ENTREPRENEURSHIP LEVEL 2 Topic 2 : Customer

Terminologies Promotions – means that an entrepreneur can use to communicate with the customers for them to know about service or product that are offered.
It has two components : communicating products/services to the market and persuading the market ( Customers) that they need or desire his or her service or product.

Persuade
Ethical
Stakeholders
Signage
Niche market
Budget<br>

Marketing and selling Selling is the actual buying of product or service, mainly giving the customer goods and he or she pays for them
Marketing are all the means that are done to make customers buy goods.
There are techniques that can be used for marketing which are as follows ( this techniques differ in cost and difficulty):
Personal selling[ Page 73-74]
This is a costly technique as you have to hire salesperson to initially perform this technique
But in small businesses or newly venture enterprises an entrepreneur performs this technique by himself this results in various advantages as customers have the chance to personally be told how the product works and they can also ask question, it builds a strong reputation and customer base<br>

Marketing and selling techniques….. 2. Sales promotions [ Page 74-75 ]
-This are the things that encourages customers to buy goods in a short-term from businesses. Below are some of promotions that can be done:
Sales – offering goods at relatively low prices or bargains
Samples – offering of mini version of goods to potential customers
Launches – invitation of potential customers to official opening or function for your goods
Exhibitions – there are variety of exhibitions<br>

3. Publicity and public relations[ page 76 ]
Publicity is information about a company that is published by media. The entrepreneur does not have control over it because he or she does not pay for publicity.
Public relations are the means that an entrepreneur takes for the business to get good publicity. E.g. giving back to the community. Is done to build good relationship with stakeholders Marketing and selling techniques…..<br>

4. Advertising[ Page 77-80 ]
Promotion of goods or services to customers and the business pays for it.
Sources of advertisement [ n.b the sources have advantages and also disadvantages ]are the following :
Television
Radio
Flyers
Newspapers
Magazines
Websites
- Other sources include signs and billboards-posters also stationery Marketing and selling techniques…..<br>

Marketing and selling techniques….. How to design an advertisement
The advertisement should provide enough information that can be useful to potential customers. Hence it is important to follow the below checklist:
Is the product or service that I offer made very clear?
Do customers know where to find my business?
Do customers have my contact details? E.g. Contact details and email/fax or post
Have you provided clear reason for customers to respond ? E.g. discount or reward or special offer
Will customers understand benefits of the service or product?<br>

Promotional ideas for small businesses This promotional techniques are not difficult or even expensive to adopt or use.
Signage
Advertising
Print and radio ads
Trade or specialist publications
Flyers and brochures
Business cards
3. Publicity
Word of mouth
Community fairs, festivals and exhibitions<br>

Marketing plan Marketing plan is a strategy that is adopted by an entrepreneur to achieve the goals of a business, it normally includes the marketing strategy, sales forecast and expense budget to indicate a few.
When constructing a marketing plan you must be able to do the following:
Describe potential market
Describe your target market
Describe promotion strategy
Provide a marketing or promotion budget<br>

Marketing and selling techniques….. A good advertisement should also follow the AIDA principle:

Attention -it should grab attention of customers.
Interest -It should arouse interest of customers
Desire - Potential customers should want the product or service
Action – Encourage your customers to contact you/ buy / use the product or service
How can you as an entrepreneur ensure that the above principle is adhered to when designing an advertisement?
N.B STUDENTS WERE INSTRUCTED TO CONSTRUCT AN ADVERTISEMENT FOR THEIR OWN BUSINESS IDEA THAT THEY SUBMITTED IN PREVIOUS LESSONS. SOME OF THE ADS ARE BELOW<br>

Student submission [ POSTERS AND FLYERS ] One contact detail was provided, no physical address of the business, range of prices was not indicated. Overall the ad met 60% of AIDA principles The ad met all requirements of AIDA principles. Physical address was not indicated also the price range.<br>

Student submission [ RADIO AD ]<br>

Conclusion In this lesson I explained the importance of marketing for small businesses. If there are no customers, there will be no business.
In which promotions as one of the four marketing Ps has various form in which businesses can benefit when marketing the goods and services to customers.
Remember the main categories of promotion are personal selling, sales promotion, publicity and advertising.
It is highly expected of you to know the advantages and disadvantages of advertising in various media and draw up an advertisement that is in line with AIDA principles
The other important discussion was promotional techniques for small businesses.
Drafting of a marketing plan is vital and also promotional budget for small businesses for a year.<br>