What are malls promotion statergies?

Question

What are malls promotion statergies?

Answer 1

The "When" of Your Promotional Strategy

There are four major intervals for promoting your business. The first is preening promotion. It is very important for a new business to generate customer interest before your business opens its doors. You want your target market to be anxious for your business to open.

Some businesses do "teaser" advertising. A teaser ad may be, "the countdown has begun; there are only 60 days until Company of Miami opens." This business may do teaser advertising by erecting a sign where the business will be located indicating, ". Company of Miami A new approach to Aerial Photography will be located on this site!"

Toys 'R' Us announced in March that it would start construction of a new store in July and be open to the public in October. The announcement did not cost any money because the local newspaper ran a story about the popular store coming to town. The preopening promotion not only got every child's attention, it prompted children to save their money for the grand opening sale. The promotional strategy helped direct a large portion of the target market's attention and money away from Toys'R'Us's competition.

Grand opening and preening promotion are very important because you will need to generate as much sales as possible when you open your business. The sooner you sell your products and services, the greater your ability to meet your financial obligations and produce a positive cash flow.

Your business will also need to provide ongoing promotions. Your existing customers will need to be kept informed about developments in your business. You will also need to let potential customers learn about your business and its sizzle. Most new businesses tend to have a token grand opening promotion and do little after that. You need to develop an ongoing promotional program that will keep your business in your target market's minds. The old adage, "If you build a better mousetrap, the world will beat a path to your door," does not apply in today's marketplace. If the world doesn't know about your mousetrap's advantages and the market doesn't know where your door is, then you will not sell a single mousetrap.

There may also be occasions when you should have special promotions. If you plan to have a twoforone sale or a midnight madness sale, or add a new product or service, then you need to have a special promotion to notify your target market.

Your promotional strategy must include a timetable that reflects when you plan to do various promotional events. Your schedule will help you identify when you will need to offset slow periods with special promotions. The schedule will also provide a basis for projecting the timing of promotionrelated expenses.

The "Where" of Your Promotional Strategy

Your promotional strategy will only be effective if its message gets to your target audience at the appropriate time. The "where" of promotional strategy involves the media you use to communicate with your target market. There are numerous avenues or media available for promoting your business. The key is to know which media will produce the best results. The media to be used will depend on to whom you want to direct your message, the nature of the message, and when it needs to be presented.

Each type of media has advantages and disadvantages. Television offers color, movement, sound, and broad geographic coverage. Radio offers a means to get to a large number of people at various times of the day and night. Newspapers offer daily coverage to a large percentage of an area's households. Direct mail permits you to send your message to a specific group of people. Billboards take advantage of a captive audience while people are in their automobiles.

There is no one best medium for all businesses. There is no one best medium for every type of message. If you were to open a retail sailboat outlet, then it may be worth your while to do television advertising. After all, you are not selling sailboats; you are offering excitement, freedom, and fun. Television can capture the sizzle of your product or service. You may want to do occasional newspaper ads that provide pictures of your products and feature special promotions. Also consider using direct mail to people who live in neighborhoods with homes valued above $100,000. These people may fit your customer profile and probably have enough disposable income to afford your product.

Other businesses may find radio, billboard, and newspaper advertising to be more beneficial. Restaurants air radio ads during the morning rush hour to encourage drivers to try their businessperson's lunch special that day. The locations of billboards on major thoroughfares may also promote the restaurant's steak and seafood menu. That restaurant also may include an ad in Friday's newspaper that includes a coupon for a 20 percent discount or a free dessert.

When asked which medium is the best, the answer can only be, "The one that does the best job of attracting customers per dollar cost." Your promotion budget also influences media selection. You want to get the best return per dollar invested in promotion. One medium may cost less than another, but you need to determine which one will do the most effective job of getting your message to your target market. businesses frequently evaluate media in terms of the cost of reaching each 1000 potential customers. This process serves as a good basis for comparing the media and for choosing the right radio station, television channel, etc. The Standard Rate and Data Guide may be helpful. It provides market information and media costs.

Answer 2

I think a mall can promote itself by advertisements in papers and these days gain lots of recognition by inviting celebs to their mall, e.g. just before the release of a certain movie. I remember the cast of Bas ek pal visited some mall in New Delhi, that must have gathered a lot of crowd.