🎓 Definition

Promotion planning refers to the process of developing and implementing strategies to increase sales and awareness of a product or brand. This can include various types of promotions, such as discounts, coupons, sales, and special events.

Planning ahead will allow Merchandise, Supply Chain and Marketing to gain alignment. Many successful retailers build out and align their promotional plan for the entire year, locking in items in the promotional flyer as soon as 8 weeks out.

💡The process of promotion planning typically includes several key steps:
  1. Setting promotion objectives: Determine what the promotion aims to achieve, such as increasing sales, driving traffic to the store, or raising awareness of a new product.
  2. Identifying target audience: Identify the specific consumers that the promotion will be aimed at.
  3. Choosing a promotion mix: Select the type of promotion or promotions that will be used to achieve the objectives. This may include discounts, coupons, sales, or special events.
  4. Developing the promotion: Create the details of the promotion, such as the offer, the mechanics, and the communication plan.
  5. Implementing the promotion: Execute the promotion, which may include printing and distributing coupons, advertising the sale, or setting up displays.
  6. Measuring effectiveness: Evaluate the success of the promotion by measuring its impact on sales, traffic, and other key metrics.

❓What is Promotion Planning used for?
  • By planning promotions in advance, Retailers can ensure that they have enough inventory, staff, and marketing materials to support the promotion.
  • Planning promotions ahead of time allows Retailers to carefully consider the target audience, promotion mix, and communication plan, which can increase the effectiveness of the promotion.
  • Retailers can also better manage their budgets and allocate resources more effectively.
  • Allowing Retailers to coordinate with Manufacturers to ensure that everyone is on the same page and working towards the same goals.
  • Advance planning allows Retailers to be more flexible in their promotional strategies, as they can adjust or cancel promotions if necessary.
  • Better idea of the impact on their sales and can plan accordingly.
  • Retailers can create a cohesive promotional strategy that aligns with their overall business goals and objectives.