Retailers spend big money to convey messages about their products and their prices to their customers. However, if the customers understand the marketing messages differently as what the retailer has intended, then big money may be wasted…
Know what you want to achieve with your marketing messages
The main reasons why retailers want to communicate with consumers are to inform potential consumers about the attributes of their products. At the same time they want to persuade them to buy the product, and to remind them to continue buying it.
The marketing massage must reach consumers amidst messages of competing retailers. The message must be heard in online communities that usually champion Joe public concerns with their critics and praises about the products. Retailers should therefore have a promotion plan to enjoy an competitive advantage…
Plan your marketing messages
Without planning their marketing message, the best-conceived products, at the most attractive prices, will often gather dust on retailers’ shelves. The following steps need to be followed when doing your promotion planning:
- Situation analyses – also known as the SWOT analyses. Retailers need to identify their internal strengths and weaknesses to address the external threats and opportunities in the markets.
- Formulation the promotion objectives. Retailers should describe their target market as well as their promotional objectives.
- Preparing the promotional budget. How much money will the retailers need to achieve their promotional objectives?
- Manage promotional elements. What will the content of the message be, what medium will be used (e.g. press, TV or online), who will receive the message, and how effective will the feedback be?
- Coordination and integration of promotional decisions. Who is going to do what, when and where?
- Measurement of promotional effectiveness. Have the promotional decisions achieved their objectives?
- Evaluation and follow-up. Continuous feedback about the effectiveness of the promotion decisions is needed to take corrective measures.
The development and implementation of a marketing plan give structure to a retailer’s management tasks. It also brings a retailer closer to its customers and in contact with a dynamic retail market.
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