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Promotion Planning And Techniques
COMPONENT ELEMENTS OF PROMOTIONAL PLANS
Promotional plans should specify which promotion elements are to be used and how company resources
are to be allocated among the promotion mix. It determines the promotion mix and provides for the
coordination of the elements of the mix with each other and the overall marketing strategy.
ADVERTISING PLAN: A firm’s advertising plan should include the advertising target, objectives,
strategy, appeal, copy theme, media schedule, budget and methods for measuring advertising results.
PUBLICITY PLAN: The publicity plan should include the publicity target, objectives, schedule of
company products and events with news value, media possibilities, budget and means of measuring the
results of publicity.
PERSONAL SELLING PLAN: This includes sales targets, objectives, strategies, major appeals, budget
and methods of measuring personal selling results should be included in the personal selling plan.
SALES PROMOTION PLAN: It encompasses sales promotion targets, objectives, strategies, schedule
of events. Budget and methods of measuring the results of sales promotion efforts are essential parts of
the plan.
PROMOTION TARGET DETERMINATION
Market segmentation is the process of viewing a large heterogeneous market as a group of smaller,
homogeneous markets brought about by differing product preferences among consumer groups.
The company can identify the group of consumers who are his most promising prospects and concentrate
his promotional efforts on them. Instead of attempting to do a promotional mix, which is aimed at
covering the entire market, a company can identify segments and direct its promotional effort at those
targets. Promotional target markets are usually used for three basic reasons.
- ACHIEVEMENT OF SHORTER PRODUCTION RUN: Production runs does not have
to be long as the company will focus on the target market and this makes easy product
adjustments. Products can be adapted to identified targets. - MARKETING COST PRODUCTION: Cost-reducing techniques in the marketing process,
such as self-service retailing have made it possible for manufacturers to offer a wider
variety of products to get finer adjustment of product features to the needs and wants of
target groups. - CUSTOMERS SATISFACTION: A rising level of discretionary buying power and its more
widespread distributions have made customers more choice-conscious. Consumers are able
to spend more money in order to get products that satisfy their personal desires.