i have created an arcade business in alexandra palace and im a small business at the moment. it says i have to do these things

Discuss the main ways in which a business can promote and advertise its products and services. Also discuss how legal constraints can affect how it does this. Use examples to illustrate your discussion.

Select the sales and advertising promotion methods which you feel are most appropriate for your business. Explain how you plan to use them and why they are the most appropriate for your business. You can also use the findings from your target market and competitor research to justify your choice of promotions.

Draft a couple of examples of the promotional materials you will use. For example, design a poster, newspaper advert or a business card promoting your business.

Research the possible costs of promoting your business. For example, how much will it cost to place an advert on the side of a local bus, produce 5000 flyers, 200 business cards, or a radio advert? You should include some proof that you have carried out this research eg a table of costs or promotional information from a leaflet printing business. You can use www.trade-print.com to find information on the cost of printing leaflets.

Create a budget table showing the cost of each of the individual forms promotion that you have chosen to use and the total cost of your marketing campaign.

Evaluate the possible effects that the cost of your marketing campaign and its success would have upon the finances of your business.

  1. Alam
    Weather you are a new business or an established business we have found that the following approach works best in preparation of a marketing plan. It is called SOSTAC ( SOSTACĀ® is a registered trade mark of PR Smith. More information at www.prsmith.org.) which stands for Situation, Objectives, Strategy, Tactics, Action, Control this is an integrated approach to planning. The plan asks specific questions 1. where are you now? (Situation) 2. where do you want to go? (Objectives) 3. How are you going to get there? (Strategy) 4. How are you going to get there (Tactics) 5. How are you going to get the plan to work? (Action) 6. How are you going to ensure arrival? (Control) This will assist you in developing an appropriate plan but will also allow you to take into consideration the whole organisation, your financial situation, legal etc. This is quite a comprehensive tool and can be used for small or large marketing plans. I have included a number of resources which should assist you.

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