Establishing your own business is an extraordinary project, which requires determination and great commitment on our part. In addition to using creativity and realism when determining the correct budget and business plan to bring the project to life. But there is an element, which is essential to present our business and compete with our services and products in the market, this element is Promotion. Which is why it is one of the four essential elements to establish your own business.
In the Marketing article published on www.britannica.com, the concept of promotion is defined as follows:
Promotion, the fourth element of the marketing mix, consists of several methods of communicating and influencing the customer. The main tools are the sales force, advertising, sales promotion and public relations.
A Promotional Plan is the tool that a company has to present valuable information about its business and about its strategies to increase the demand for its products and services in the market. Before establishing any promotional plan, it is necessary to carry out a market study and select the group of potential consumers. Information that will help us define our objectives and strategies, which must be implemented in the short, medium and long term. In this way, they can be periodically evaluated to determine their effectiveness.
It is worth remembering that when establishing a promotional plan, it is necessary to determine a budget, without affecting the economic resources of the business operations. Therefore, it will be necessary to evaluate the promotional resources in the market and their costs to make a more assertive decision when selecting the promotional media by which our services and products will be promoted. Some of the market strategies are: sales promotions, public relations (press conferences and sponsorships), advertising (on radio, television, social pages, etc.).
In conclusion, a Promotional Plan must present the mission of the business, its services or products, the type of clients it wants to impact, the objectives and strategies in the short, medium and long term. In addition to the budget and the group or company in charge of executing the promotional plan. In order to increase the demand for our products or services and create a very close and lasting relationship with consumers. Fortunately, today there are different social media and platforms that allow creation and innovation when promoting their services and products, obtaining greater exposure in the market. In addition to the fact that there are programs that help you measure the results of your advertising campaigns, allowing a better analysis and a more successful promotional plan. Which will bring us even closer to success, if we are wise and take advantage of all existing tools to develop and present our business.
Please do not forget to visit our YouTube channel, where you can find promotional videos, which can give you ideas for the development of your business while being part of the growth of our channel.
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Channel: Woman Presence
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References:
Grayson K. (2021). Marketing. www.britannica.com https://www.britannica.com/topic/marketing
Pedrosa.SJ. Promoción de Ventas. [Sales Promotion]. https:economipedia.com
How to create a Promotional Plan. https://promotional drives.com
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https://www.pexels.com/photo/monochrome-photo-of-woman-with-her-head-up-7121392