Promotional Tools for a New Business

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Your Reading covered various promotional tools including sampling, couponing, premiums and other promotions, public relations, word of mouth, sponsorships, packaging, point of purchase (POP) promotions, signage, and personal selling. All of these promotional tools can be quite effective when selling a good or service. Using these promotional tools apply them to the following scenario as appropriate.

Read the scenario, You are the new marketing assistant at a new business, Rent a Jewel, better known as RJ’s. This business involves a vault-like building with a mall store access area in a new high end indoor shopping mall which has been incredibly busy as it is located near Washington, D.C., where the customer can pick up the jewelry they chose from the website picture. The jewelry includes watches of all shapes, sizes, and price points, jeweled handbags, and of course a typical array of jewelry from cheap to very expensive. The jewelry rental involves the customer allowing their credit card number to be held until the jewelry is returned to the store. What are the benefits to the customer? The customer can avoid having to worry about expensive jewelry in their home, or insurance or a deposit box costs to store it. As U.S. customers are dressing up less and less, their need for expensive jewelry has dissipated with the exception of special occasions and wedding jewelry. This company allows the customer to rent jewelry they would not normally own as long as they cover the cost temporarily with a credit card. When the jewelry is returned, the rental fee is charged and their credit card information deleted unless they specifically request it be held for future use. The grand opening for your company will be next month and you are busy promoting this grand opening. and then address the checklist items.

Checklist: and then address the checklist items.

  • What promotional tools will you recommend to the owner of RJ’s that will increase customer loyalty and promote the grand opening?
  • What goals do you have for these promotional tools?
  • How will personal selling be used in the company?
  • How would you continue to use these promotional tools after the grand opening to promote customer loyalty?
 
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