Novus Business and IT Training Program

Placement & Promotion

Objective: This lesson will introduce the marketing mix, focusing on placement and promotion for small businesses.

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The Marketing Mix

• A good marketing mix has a…– Product that fulfills a customer need or

want– Price that will be attractive to the

customer and profitable to you– Placement that is easily accessible for

customers– Promotion that clearly explains the

benefits of the product and how it can be purchased.

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Placement

• Where you sell your product

– Know where your customers shop

– Different locations have different transportation costs

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Promotion

• Selling, Advertising, or Publicizing a product– Communicate to customers– Persuade them to buy

• Promotion Strategy is determined by…– Customer Behavior– Cost

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Small Business Marketing

• Promoting your product with fewer resources1. Gather Information! 2. Use low-cost marketing options:

• Customer Relationships• Social Networks• Marketing Materials• Local Media• Internet• Special Offers

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Gathering Information

• Promote the right message to the right customers.

• Ask the following questions:–Who are my customers?–Why do my customers buy from me?–What’s the best way I can communicate

with my customers?

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Customer Relationships & Social Networking

• Customer relationships– Sell your product or service– Understand customers– Communicate promotions

• Word-of-Mouth– Good product => Right Customer => Free Promotion– Poor product => Wrong Customer => Disaster

• Social Networking– Connect to customers through Facebook, Twitter, etc.– Be active! Communicate your offerings and promotions.

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Marketing Materials, Local Media, and the Internet

• CLEARLY STATE THE BENEFITS AND HOW THE CUSTOMER CAN BUY!

• Distribute marketing materials to logical places• Local Media

– Newspaper, Radio, Magazines, Television– More Expensive

• Websites:– Effective if used properly– Compare with more inexpensive marketing methods

first

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Special Offers

• Types of Special Offers:

– Discounts

– Buy 1 get 1 Free

• Good way to get new long term customers

– Can lead customers to promote for you

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Developing an Offer - Example

• Bakery– By watching and talking to her

customers, the owner learns they are…• Mostly from the local neighborhood• Primarily regulars who come in almost

every day• Newspaper readers

–What should she do to promote her bakery?