Free Promotional Plan Essay Sample
Advertising and promotion are a constant mystery to those who formulate, develop and sponsor them. An advert may generate a record volume of business revenue from a product, yet it may receive mediocre response in other market situations. This means that the results of promotion are significantly affected by the understanding of that has about their customers. A promotion plan encompasses all the segments of communication between the dealer and potential consumers. It should address key prerequisites in advertising, sales methods and all other promotional activities. For instance, it might highlight a plan on how billboard promotions are coordinated to draw the most attention from potential customers. However, promotions may vary depending on the nature of business. With this in mind, three basic components make a good promotional plan: advertising, personal selling and sales promotion. Advertising includes general mass media adverts such as newspaper and TV. Personal selling involves the exact exchange of products and services with customers while sales promotion entails a composite of activities that surround an organization's promotion mix. This paper aims at discussing all the essentials of product promotion with a keen focus on the selected CCTV cameras.
A situational analysis marks the current trends in the area of the product under review. The two CCTV products under review are the CCC1390H Series and IX30 Sarix TM Series. These are security cameras dependably built for reliable operation to suit emerging technology standpoints. The current market requires the best surveillance products with designs that address key security issues. Technically, the two cameras are high resolution and high definition digital imaging devices with leading industry image quality and high performance. The CCC1390H Series is built with cutting edge technology that enables it to produce superior images under a wide range of lighting conditions. Its compact size makes it quick and easy to install for fixed applications (PRODUCT SPECIFICATION:CCC1390H Series, 2006:1). On the other hand, the IX30 Series Sarix TM is a network camera packed with enough megapixels for high resolution applications. It uses open IP standards to integrate emerging network technologies and demanding security applications. Its advanced video technology and processing power makes it stand out to be noticed among the rest. In fact, it integrates web capabilities for remote setup and administration (PRODUCT SPECIFICATION:IX30 Series , 2010:1). It is therefore designed to be compatible with contemporary security technologies.
A promotion plan aims at achieving several objectives that are geared towards product growth. It aims at acquainting customers with products to be introduced to the market. The plan capitalizes on the seasonal aspect of a product throughout its life cycle. Moreover, a promotion may be crafted to change, improve or establish the image of a company. It emphasizes the quality of the product or service being launched an inform customers of special incentives tied to the same. Most importantly, a promotion should stimulate sales if the right promotion mix is created and implemented (Rue, 2003:188). In this light therefore, the two mentioned CCTV cameras stand a chance to generate sales through a product promotion. Initial incentives for early adopters may be subsidized installation costs, free technical support and discounted prices. This way, the initial entry of the product can be a successful sales trigger. The plan is to inform customers of these special offers on the products and to introduce them to new customers. The targeted promotion-mix aims at promoting sales through online and offline advertising, personal selling and creating ties with other supplier promotions. The main objective of this is to blend the basic ingredients of product promotion; precisely advertising, personal selling and sales promotion.
Every sales promotion is primarily targeted at a specific audience. These comprise of potential and current consumers of the product being launched. Market segmentation enables product developers to tailor their products to suit specific market sections. A marketing research is essential for any marketing activity in order to sort out and categorize customers. The resulting promotion campaign should then reinforce these categories with a keen focus on targeted groups (Hackley, 2009:79). The value of segmentation is that it makes marketing efforts appear cost-effective to organizations. It reduces the amount of expense which would otherwise be directed to undesired and uninterested groups of consumers. To reduce risks of loss of revenue, the target group should be chosen keenly so as to direct the budget to the correct market segment. The promotion campaign for the CCTV cameras is aimed at reaching security managers in various corporate organizations. Most importantly, those that are currently using analogue surveillance would find it appropriate to upgrade to digital surveillance systems with the CCC1390H Series and IX30 Sarix TM Series. The two could also be deployed as complements to the analogue systems. The channels required to reach this audience are system integrators, security consultants and surveillance partners.
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This answers questions related to the amount of money to be spent on the promotion, the timeline, the areas in which it will be spent and what it should be spent on. A promotion budget includes costs of advertising, giveaways and other promotional incentives. A master budget is prepared and then broken down to individual separate budgets. This allows for easy monitoring of actual costs and results. It is worth noting that the major share of a promotions budget goes into advertising. Each product may require its own advertising strategy which should be accounted for in the marketing budget. In this campaign, 2-3% of gross revenue is supposed to go into advertising. Other issues may however affect how much a company spends on this. For instance, established businesses may spend less or more depending on their corporate stand.
Strategies and Timelines
There are numerous promotional strategies that can be implemented for new product releases. A complete campaign is crucial besides these strategies. Media releases are a great way to disseminate information new products. The media reaches the widest number of customers hence it is more likely to result in improved sales if used as a strategy. However, the message conveyed must be appealing and interesting to consumers so that they can grow enthusiastic about the product in review (Citty & Baker, 2008:95). Promotional events are also appropriate strategies for a marketing mix.
During an event, customers should be made to feel important such that they leave with a favourable impression that will make them come back for more products or services. Sales pitches can also be used for marketing and should not only consist of the product itself, but likeable and memorable salespeople also. Client follow-ups are important after a sales pitch activity to establish contact with them in case they wish to order for more products. It also sets the pace for professional talks that show the customers that they are important to the business.
While formulating these strategies, proper timing is critical. The time set for the promotion period should take into account the seasonal nature of a product. This way the set timelines should ensure that the business makes the most sales during the peak seasons. Past performance should be analysed so that improvements can be made on the current promotional mix. The continuity of the conveyed message should be crafted to fit in the timeline and the choice of promotional strategy. Timing is everything, even in the promotion business. Missing deadlines could result to immense losses and failure to meet targets.
In a promotion, the way the promotion activity is to be communicated and which items should be communicated to the target group is important. This gives the marketers an insight of the likely value perceived by the consumers about the product. For instance, a client may consider whether it would be prudent for them to buy a newly introduced camera product at a discount on the market price. In such an offer, the question to ask ourselves is: does the client consider buying an unfamiliar product a risk? A comprehensive evaluation assesses such factors prior to the actual launching of a product promotion. Focus groups and user panels may be used to achieve this. These are requested to aid in evaluating various promotions and give feedback on the best one to the firm. A sales promotion portfolio may also be prepared and presented to select consumers in person and their responses analysed. To test consumer behaviour, trial and repeat purchases are used for market experimenting. In such evaluation, the device being promoted is the only one being tested.
A sales promotion plan outlines the requirements for a business to advertise, lure customers and sell products and services. A successful marketing campaign cannot even be launched without a promotion plan in place. Thorough research on the target market and prevailing competition is important for a marketing strategy. Budgeting properly for the promotion and a timeline of events ensures targets on ROI (return on investment) are met accordingly and timely. Therefore, a sales promotion plan should include all the necessary tools required by a marketer for successful marketing communication. Different aspects of a promotion can be integrated to deliver a unique campaign that appeals to customers and translates into increased revenue for a company.