The promotion of a company is a very important aspect. It is crucially important for the success of a company. The promotional plan of a company is made under certain critical steps. These are as follows:
1: Situation Analysis: It includes analysis of
- Marketing environment
- Rules and laws
- PEST Analysis
- Demand and supply trends
- SWOT Analysis
- Porter's five forces analysis
2: Set Promotional Objectives
3: Describe your target Market
4: Determine marketing and promotion tactics: By setting Price, Place. Product and promotion
5: Marketing controls:
- Determine Start up costs
- Monthly budgets
- Sales figures
- Market share data
