An Advertising and Promotion program is an important aspect of your business. The program mix which you select should announce your product/service in the most cost effective manner, producing the greatest results.
Use the pointers in Table 20 in order to plan your advertising and promotion strategy.
Table 20: Guidelines for Advertising/Promotion
|Guidelines for Advertising/Promotion|
|Determine the following:
Table 21 describes Fay’s Variety’s Advertising/Promotion plans.
Table 21: Advertising/Promotion for Fay’s Variety
|The advertising campaign for fiscal year 201x runs from August 1st to July 31st. The total cost of the program will not exceed the budgeted amount of $3000.00.
The market that Fay’s Variety has identified within our defined territory can be effectively reached through the following sources:
Fay’s Variety will publish a weekly flyer (see enclosure) that promotes weekly specials.
Local Advertisements – Newspapers
In a recent survey (Appendix 1) it was found that 71% of local residents read the Anywheretown Gazette. This is definitely a target for advertising. As well, the Anywheretown Shopper was the advertising paper of choice with 69% readership. When asked “Does newspaper advertising (such as a sale) ever motivate you to visit a merchant?”, 92% of local people said yes, clearly suggesting more advertising should be focused here, with specials.
Store Window Banners
This year we will make use of window displays especially promoting our Deli which has been identified as one of our larger drawing cards. Window signs can be done rather inexpensively and changed on a regular basis, to avoid tired looking signs and to maintain customer interest.
This year we will offer sponsorship to local children’s sports teams. The advertising on the sweaters is a good way of promoting goodwill of Fay’s Variety showing it to be an active community sponsor. We will also provide refreshments from time to time to both kids and parents at the games. Our target is parents — keep them happy!
Direct mail in this instance refers to sending or dropping off flyers to senior citizens’ centers, select areas of cottages, camp grounds, etc. It may be advantageous to attach a short personal note from the manager inviting these people to the store to do their shopping and take advantage of our fresh baked goods and fresh deli. We will also promote the conveniences of the other services we provide for personal needs (shoe repair, postage, DVD’s).
Other Store Window Displays
It may be advantageous to design a small sign that can be displayed in other merchants’ windows advertising the features of shopping at Fay’s Variety. In return, we would consider displaying signs and/or merchandise from other stores at the front of the store or at a location that is more convenient. This leaves the general public with the idea that we are actively involved in promoting local business.
There may be situations where a joint effort on advertising might make sense. For example, if the hardware store decides to run a special on B-B-Q’s, Fay’s Variety could run a feature on fresh baked buns and meats
Click on Worksheet 8.10 and list your target markets.