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Promotion - I am part of the Young Enterprise scheme, which is a national education charity. It delivers an exciting, practical hand on business experience to young people.

Extracts from this document...

Introduction

Unit 7- Promotion I am part of the Young Enterprise scheme, which is a national education charity. It delivers an exciting, practical hand on business experience to young people. Our business is called Melting Moments and there are 10 of us in a business and we all have a specific role in the business. There is: Fatima Mamaniyat - Managing director Duty: Report overall progress of the group to all members about the business. Suraya Soni - Sales and Marketing director Duty: Promote sales and carry out market research. Halima Jogee - Sales and Marketing director Duty: Promote sales and carry out market research. Sakila Shaikh - Production manager Duty: Buy the raw materials and make sure that all the products are up to scratch. Khatija Adam - Finance director Duty: Handle money and keep everyone up to date with the budget and other finances within the business. Donia Sonkor - IT director Duty: Produce the posters, leaflets and any other promotional materials while we are campaigning our product. Fahima Seedat - Company secretary Duty: Record important dates and organise any meetings set by the managing director. Neelam Iqbal - Human Resources director Duty: sort out any complaints from customers. Asfah Akhtar - Other directors Duty: Do any addition work that needs doing and help out in each department when needed. Mehreen Aslam - Other directors Duty: Do any addition work that needs doing and help out in each department when needed. Our business objectives are: * To make a profit. Selling our products at a higher amount than all the expenses added together will do this * To have a good reputation. We will achieve this by advertising and promoting our company as much as possible to get maximum impact. We will also approach our customers in a friendly manner * To offer a good customer service. We will make sure that all our customers are satisfied with our products and if they are not, we might exchange or give a refund on them. ...read more.

Middle

From September to December we were running "Name the teddy" and "guess how many sweets" competition in order to raise the �80 for our entrance fee. Whilst running the competitions we were also promoting our business. The prizes for the competitions were brought from our budget. The amount we will spend on promoting our business through the promotion campaign will be about �10; this will come from our business budget. In June last year after a lot of group discussions and possible constraints on products that we were going to make, we decided to make candles as our chosen products. We made our first prototypes in July. We had a long candle on a base with flowers round it, a tea light holder with a tea light and a diamond candle on a base as our prototypes. In September we started making our candles for our first trade fair which was at Granary Warf on the 14th December. We had about 10 weeks to make all the products and the lettering for the trade fair. During this period, we started getting customers wanting to buy our products. We did not want to sell them at the beginning but then we saw that many students from school may not be able to attend the Granary Warf trade fair. We decided to sell some of our candles but we did not tell many people about it, as we did not want to run out of stock for our first trade fair. Our first proper sales were at granary Warf, but we did not do well as we hoped. In order to sell our products off before Christmas we had a sale in school on Tuesday 17th December in the main hall at lunch. We did quite good and made about �40. We still had some stock left but on January 29th and 30th we had another sale in school. ...read more.

Conclusion

All the information we give is correct and it is easy to understand, as it is straightforward and clear. Some customers may visibly respond to our information this way we know that our promotional campaign was successful. Before promoting our business and product we sold quite less but after promoting we sold quite a lot. The evidence to support this is that when we were selling in school the 1st time we didn't promote, as we were short on time. But when we promoted our business and product for our second sale in school we got quite a lot of customers and sold many candles. To increase sales we could promote our product a bit more and also be more persuasive to customers at the stall. The reason that some people may not buy our product is because they may not be interested in our product or they may have something similar already. Analysing the questionnaire results and face-to-face questions we will know which part of our promotional campaign we could improve so that we can increase sales. Conclusion I have found out from doing this assignment that the promotion of a business and product is one of the most important things. Without this the business may not survive. There are all sorts of things that need to be considered when planning the promotional activities. You need to make sure that you have chosen the right promotional materials and you also need to follow the legal and ethnical laws when you are promoting. You need to consider where your most customers are and then promote in that specific area. You also need to think about the time and resources that are available to you. This can vary for each business. You will also need to find out in some way if your promotional activities have been a success or not so you know what to do and what not to do next time. 1 ...read more.

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