Advertising and Promotion Strategy for Small Business Marketing

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Added on  2022/08/13

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This report provides a comprehensive analysis of advertising and promotion strategies tailored for a small business. It begins by proposing a mix of traditional advertising and promotional options, detailing the media to be used, how the advertising will reach the intended target audience, timing considerations, and associated costs. The report then delves into the strategic use of social media, specifying the chosen platforms, the rationale behind their selection for the target audience, and the cost implications. The analysis extends to include the metrics employed to determine the success of both the traditional advertising and social media campaigns, ensuring a data-driven approach to evaluating marketing effectiveness. The report incorporates a detailed action plan, budget allocation, and various metrics, such as break-even points, lead generation, sales indicators, and net profit analysis, to measure the effectiveness of the marketing efforts. Furthermore, the report explores the implementation of social media for the company, and the selection of media for the target audience. The study also discusses the various marketing tools and techniques that can be used for the marketing campaign and includes references to relevant academic sources to support the findings.
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Running head: MARKETING
ADVERTISING AND PROMOTION: A case of small business marketing
Name of the student:
Name of the university:
Author note:
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Traditional advertising mix
Media to be used- Social media marketing would be used for uploading the
information related to the launched T-shirts. As a matter of specification, mention can
be made of the Facebook, Instagram where hashtags would be used for luring the
customers towards the newly launched T-shirts. A separate page would be created in
the facebook, where the customers’ comments would be collected for the newly
launched T-shirts. Contests related to the purchase would be an effective means of
luring the children towards the brand image. These contests would enhance the brand
loyalty.
Reaching the target audience- Target segmentation would be conducted for
identifying the customers, whose needs is to be catered for increasing the sales
revenue and profit margin. The targets of millennials, Disney, Star Wars, Superheros
and Micheal Godard has been identified for expanding the customer rate. Among
these, the targets of Star Wars would be effective for providing quality T-shirts to the
children. This is because, they are passionate towards cartoon characters and like to
flaunt it in their dresses, as a status symbol. Sponsoring in the fairs and events would
be an effective means for increasing the sales revenue and profit margin.
Timing considerations- Action plans would be prepared for completing the
activities, according to their urgency.
Activities Week
1
Week
2
Week
3
Week
4
Week
5
Week
6
Week
7
Week
8
Preparing
budget
Meetings
Celebrity
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endorsement
Product
launch
premier
Social media
marketing
Evaluation
Closure
Table: Action plan for the marketing campaign of T-shirts
(Source: Created by the author)
After the creation of the action plan, meetings would be conducted for assessing its
feasibility in terms of placement and positioning of the T-shirts to the customers.
Measurements through the means of IPECC (Initiating, Planning, Executing, Controlling and
Closing) would be effective in terms of mapping the journey of the T-shirts according on a
long term benefit planning. In this context, goals are crucial in terms of improving the focus
on producing effective quality T-shirts for the children. In the initial stage, short term goals
are required for stabilizing the position in the competitive ambience of the market.
Cost conditions- This aspect includes budget, which enhances the awareness of the
personnel regarding the expense behind the marketing activities. This process needs
the involvement of the HR manager, Senior Operations manager, CEO, board panel,
the employees and the head of the departments.
Activities Cost ($)
Brochures, leaflets 10,000
Advertising campaigns 20,000
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MARKETING
Training 30,000
Market research 50,000
Creative/design software 1,00,000
Total 210,000
Metrics for determining the success of the advertising efforts-
a) Breakeven point- This aspect would be effective for achieving financial
flexibility in terms of sustaining the costs and enhancing the profits, through
efficient profit margins in the slower growth periods.
b) Leads generated and converted- Email marketing would be beneficial for
controlling the sources of the leads, which would enhance the security of the
information and cash devoted towards marketing of the T-shirts. This process
would be effective for improvising on the parameter of public relations, indicative
of the productive labour from the suppliers.
c) Sales indicator- Sales demand forecasting would be a logical and planned action
towards maintaining the conditions regarding sales uprising, demand and supply.
Volume and frequency of the sales is also to be considered in terms of
determining the prices of the T-shirts and estimating the instabilities, which can
act as an obstacle in the process of marketing campaigns. This process would also
be effective in terms of determining the prices of the T-shirts. If the demand is
high, then the prices would automatically decrease. In this context, it would be
easy for expanding the customer rate.
d) Net income and ratio/profit- Slow profits can have a low bottom line for the
newly launched T-shirts. This can result in customer turnover, providing higher
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MARKETING
competitive advantage for the contemporary brands to flourish their marketing
position in the competitive ambience of the market. Therefore, social media
advertisements installed with privacy cookies and policies would be effective for
expanding customer rates.
e) Evaluation and audits- These are the crucial aspects, which helps in measuring
the feasibility of the strategies towards positioning the T-shirts in the markets.
Audits would be effective for preparing the annual reports in terms of mapping the
journey of the T-shirts on a long terms planning. Maintaining consistency in the
execution of the evaluation would result in the upgradation of the standards and
quality of the T-shirts. Involving journey mapping is fruitful for assessing the
areas in which improvisations are needed for achieving higher customer
satisfaction.
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MARKETING
Bibliography
Andrews, J. C., & Shimp, T. A. (2017). Advertising, promotion, and other aspects of
integrated marketing communications. Nelson Education.
Cui, R., Gallino, S., Moreno, A., & Zhang, D. J. (2018). The operational value of social
media information. Production and Operations Management, 27(10), 1749-1769.
Hackley, C., & Hackley, R. A. (2017). Advertising and promotion. Sage.
Juska, J. M. (2017). Integrated marketing communication: advertising and promotion in a
digital world. Routledge.
Kumar, V., Choi, J. B., & Greene, M. (2017). Synergistic effects of social media and
traditional marketing on brand sales: capturing the time-varying effects. Journal of
the Academy of Marketing Science, 45(2), 268-288.
Thornhill, M., Xie, K., & Lee, Y. J. (2017). Social media advertising in a competitive
market. Journal of Hospitality and Tourism Technology. 9(4), pp200-250
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