Fashion 6.05

1. Fashion 6.05 Promotional Plan

2. Promotional Plan • A written document that details a company’s promotional efforts for a certain period of time

3. Promotional Plan Contents • Store and customer description • Business type • Location • Hours of operation • Type of merchandise • Customer demographics

4. Promotional Plan Goals and objectives • Example: to sell specific merchandise; increase sales in general; increase market share • Should be Specific, Measureable, Attainable, Realistic, Time Bound • ***to increase by 15% during Mother’s Day sale

5. 3. Major theme *** • Back to school • Mother’s Day • Prom • “Support Our Troops”

6. 4. Promotional Mix Decision • Use of Calendar of events • Overall plan of action • Guides promotional budget • Relates promotions to special events

7. b). Specific Activities*** • Advertising • Personal Selling • Publicity, Public relations • Sales promotions

8. c). Media Mix Selection • ***the right blend of media used to communicate the message of a planned promotion • Try to reach the most people • ***Newspaper is primary medium used for local retail advertising • Radio is almost always used

9. 5. Assignment of Responsibilities • People / department responsible • Division of labor (type, size and location of stores)

10. 6. Promotional Budget • Based on anticipated annual sales*** • Sometimes based on last years sales • State the total budget • Itemize each expense

11. Calculating Promotional Budget • Manufacturers budget 5-8% for promotions • Retailers budget 1-4% for promotions • You do the math . . . . *** • If a retailer budgets 3% of expected sales of $1,562,766 for promotion, how much is it? • Take $1,562,766 x .03 = _____________________