Question

Short Essay

Collect promotional materials from a small business in your area. These can include coupons, loyalty programs, special tie-ins, special events,, advertisements, or any other promotional materials. Using these materials, answer the following questions:

1) What is the owner trying to achieve with these promotions? What are the goals and objectives of each? If you take the various promotions as a portfolio, what overall goal do they have?

2) What incentives (for the customer) are embedded in the promotion materials?

3) What business image or business characteristics do these promotions convey or imply?

4) Assuming limited funds, how would you improve the promotions for this business? Be sure to tie your ideas to specific goals.

Answer 1

Promotional materials include coupons,loyalty programs,advertisements,special tie-ins,special events etc.Basic need for promotion is to market items to a wide area and spread the purpose of using this item in the society.

1.Objectives of Promotion:

a.To make a product more popular

b.Stay ahead of competitors

c.Spread the trend updates.

d.Provide brand value.

e.Increase in customers.

2.Data collection from customers is an excellent way to know the customer ,therefore by collecting data from thousands of customers by using the right strategy will help in setting the trends and patterns .So, after knowing a customer better we can release new promotions which are more close with the customer.Also when some offers are available for a limited period of time customers will talk about it with other people around them which will draw more number of customers for the product.

3.Branding is the one thing towards which each promotion is working for.Creating a brand value among customers will increase the amount of product marketed .By launching more promotions the brand is gaining chances of getting into peoples' mind.

4.If the funds are limited what they'll do is ,they try to reduce the social media and television advertisements which are the costliest way of promotions.Improving the publicity of product by producing good quality item can gain the favor of the customers ,about which they will tell to their acquaintances and increase its selling rate.