Program planning, objectives, budgets and measuring success!
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Program planning, objectives, budgets and measuring success!
Program planning, objectives, budgets and measuring success!
Curated by Mike Kirkwood
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Promotion Plan - SmallBusinessNotes.com

Promotion Plan - SmallBusinessNotes.com | Program planning, objectives, budgets and measuring success! | Scoop.it
How to get the word out on your business
Mike Kirkwood's insight:

I feel that some businesses jump into promotion because they think they have to. They fall short of realizing that without clear objectives to why? They have no clue to how they will effectively promote. I feel this to be true especially with small to medium sized businesses. Promotion is more than just awareness, it’s about delivering brand value. It’s about communicating that value to consumers in a manner that identifies what your brand is about and how you want your brand to be perceived. Promotion should aid in the building of brand equity but without measurement how will brand ever know how successful their efforts are. In today's market place who can afford to throw money away on immeasurable activities that reap no measurable success.

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Will Costello's curator insight, August 22, 2013 11:50 PM

This article discusses the development of a sufficient and effective promotion plan for a new product. Promotion is one of the major driving forces when it comes to the 4 P’s of marketing. Through the article there are various strategies and forms of product promotion, these include effective research, keeping creative and always keeping your customers in mind. When devising a promotion plan, it is always a good idea to keep in mind the companies image and work around what would complement the brand.  This helps not only create brand awareness, but can also create an emotional attachment to the brand. An example of this is the Tui’s advertisements, where humor is used to complement a product that is made for leisure and socializing.

Danielle Petersen's comment, September 24, 2013 12:32 AM
@DavidShin I agree that a budget is a very crucial point in any promotional program, you have to be very cautious to not exceed the budget that you have set out and ensure that yes, the objectives you have set out are able to be achieved with such a budget.
I think the article you chose was very insightful and covered a range of factors to consider when creating a promotion plan.
The article has highlighted the following as the most important aspects of the plan itself;
Advertising
Marketing Collateral
Promotional Activities
Public Speaking and Conferences
Publications
Media Relations Campaigns
It is important to not that all of the aspects individually create the plan as a whole, they are not complete without one another.
Lily Tran's comment, September 25, 2013 6:31 AM
@David Shin- I think you are right in that being precise with the financial side of things is crucial to ensure the success of the business. By underestimating the costs of production will see the company losing track of expenditure very fast and will run the company down. Between underestimating and overestimating costs, overestimating would be better than underestimating. To have a successful brand, a business plan must be carefully designed and planned. It is true that research must be thoroughly conducted in order to select appropriate and cohesive marketing campaign such as what to use as advertising will depend on the target audience. I think David has summarised the article well and goals should be placed in order to meet the various milestones.
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IMCrazy: Establishing Objectives and Budgeting for the Promotional Program

IMCrazy: Establishing Objectives and Budgeting for the Promotional Program | Program planning, objectives, budgets and measuring success! | Scoop.it
Mike Kirkwood's insight:

Without proper strategy and an approach to promotion how can a brand or firms vision be realised. Program planning and objectives must reside within the boundries of buget constraint and live within line with objectives. Without objectives and milestones how can the delivered value be recognised and measured by brands.

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Manasi Ambavane's comment, August 22, 2013 10:56 PM
Yes Renay i agree with your point like advertising is really important for the brand as to get awareness of the product. All consumers should be aware of the products and services launched in the market. In article it states that marketer should have objectives of share, profits etc.
Aleisha Snell's comment, August 23, 2013 12:09 AM
All businesses have expenses they need to allocate within the company. A major expense that's evident is the marketing and advertising expense. This can be in a companies favour however also it can be in a negative light. If they allocate to much money to marketing and it doesn't generate the right response then it is a negative aspect for the business. Although, if they generate a lot of sales from the amount of money spent than it can be positive. Businesses need to be logical and strategic when allocating a budget as they need to be able to break even as well as maintaining a consistent level of consumers that are in their target group.
Duncan Robertson's comment, September 23, 2013 9:18 PM
I agree with Andre's insight: by developing all the objectives, analysing budgets and adjusting the promotional plan will create a road of success to your business. As Andre states: ''The primary role of IMC is to communicate the brands knowledge and interest, favourable attitudes and image and purchase intentions.'