PROMOTIONAL PLAN

With a distribution strategy formed, you must develop a promotion plan.

It contains a detailed strategy for reaching customers by expanding your business or marketing a
particular product. A promotion plan highlights key elements of a company's strategy and creates a clear
roadmap to help achieve business goals.

To accomplish the achievement of business goals, the promotion strategy encompasses every marketing
tool utilized in the effort of communicating with the customers. This includes:

1. Advertising. Includes the advertising budget, creative message(s), and at least the
first quarter's media schedule.

Traditional mediums used for advertising are newspapers, magazines, television

and radio programs, direct mail, billboards, posters, transit advertising, and
miscellaneous media. These means would increase your brand exposure and get the
attention of your target market, by building your customer base to increase your sales.

For example, mobile phones, provide continuous access to people on the go

although reception may vary in different markets. While surfing the internet or browsing
social media applications, there are advertisements everywhere. Another, rarely you can
see people not watching television and listening to the radio. Both television and radio
must get a message to consumers quickly. Although many people change channels or
leave the room during commercials, television does allow for demonstrations. To get
attention, advertisers have changed the volume of television commercials for years.

One of the biggest factors an organization must determine is which medium or

media provides the biggest bang for the buck, given a product’s characteristics and
target market. But do the ads pay off for companies in terms of sales? Many advertising
professionals believe many of the ads don’t. However, the ads do have a brand
awareness or public relations type of effect.

2. Packaging

Aside from protecting and keeping the product safe and enhancing usability,
packaging strengthens your brand’s identity and connects it to the customers. Packaging
is like a book that tells about your product and also your company.

3. Public Relations

A business needs to connect and build relationships with the audience. This is
how Public relations aid or improve brand promotions. Public Relations distinguish your
brand from the competition and provide ideas for the media platforms that are always
on the hunt for content for their audiences. In short, effective Public Relations would get
you steps ahead of your competitors. Sponsorship and solicitation are examples of public
relations.

  Companies also use PR to promote products and supplement their sales efforts.
PR is often perceived as more neutral and objective than other forms of promotion
because much of the information is tailored to sound as if it has been created by an
organization independent of the seller. Many companies have internal PR departments
to find and create public relations opportunities for them

4. Sales Promotion

Most businesses use short-term campaigns or sales promotions to extend

product demand and increase revenue. Sales promotions link advertising and personal
selling that boost product acceptance and support effective sales. It is important to
create catchy and effective promos to persuade more customers to buy.

  Many stores now place coupons next to products to encourage consumers to

select a particular brand and product. Promotions also include event marketing and
special incentives are given to retailers, such as extra money, in-store displays, and
prizes to market particular products and services

5. Personal Sales

The interaction between the buyer and seller during personal sales can occur in
person, by telephone, or via another technology. Whatever medium is used, developing
a relationship with the buyer is usually something the seller desires. When you interview
for internships or full-time positions and try to convince potential employers to hire you,
you are engaging in personal selling. The interview is very similar to a buyer-seller
situation. Both the buyer and seller have objectives they hope to achieve. Although
business-to-business markets utilize more personal selling, some business-to-consumer
markets do as well.
SALES POTENTIAL

Once the market has been researched and analyzed, conclusions need to be developed that
will supply a quantitative outlook concerning the potential of the business.

Sales potential results are very important for a company in determining whether to enter a
market or not depending on the estimated profitability from sales potential. It is a figure indicating the
maximum or total sales from all prospective buyers of the product

Most business plans will project revenue for up to three years, although five-year projections
are becoming increasingly popular among lenders.