Young Enterprise scheme
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. As a business we are selling a variety of candles of all shapes and sizes. We are selling handcrafted candles made by the expertise of each individual in our business. This is a good way of appealing to customers. We also make candles to suit individual needs if this includes a certain design or colour theme to suit them. In addition we buy ready-made candles and then package them ourselves using ribbons, sequins and beads. These candles look more customized and suitable as gifts for special occasions. We see what candles are well liked by our customers so then we can provide more of them. Our aim is to improve the Young Enterprise image. We will do this by making Young enterprise appealing to the students of our school by letting them know what Young enterprise is and what we do as part of it.
Our promotional objectives for the campaign are: Promotional objectives Description To make consumers aware or increase awareness of our product To do this we will have to advertise effectively. We have made leaflets, posters, brochures, and also created a website to promote our company and products. We will write the cheapest price, e.g. from 49p, the place we are going to be selling, some of the products that we will be selling and promoting it by saying ‘buy 1 get 1 half price’
To reach out to all different age groups. We will do this by making our products to suit all our customers wants and needs, no matter what age they are. Market research will show us what trends there are, and what age group like what kind of candle. So we will make a range of candles designed for everybody. To show the product is better than that of a competitor We will buy good quality materials to make our products so they will be of a higher quality and we will sell them cheaper than competitors. This will attract more customers because our products will be made of good quality materials and are cheap.
Our promotional objectives meet our business needs because in order to attract more customers we will need to make people aware of our business and what, when and where we are selling. Our advertising materials are leaflets, brochures and posters. These will attract customers and therefore they will come to our business to see what we are doing and then we will also be able to find out if our promotional campaign worked. We can do this by asking people who come to our stall, how they found out about it and if they would buy anything now they have seen what we are selling. We will also be able to see if our posters, leaflets or broachers are persuasive enough to make people want to buy our products. The more we advertise to make people aware of our business, the more customers we make, therefore our sales would increase and we will make a profit.
Our promotional objective of trying ‘to reach out to all different age groups’ helps us provide a good customer service which is one of the business’s important needs in order to be successful and have a good reputation. If we satisfy our customers by providing products for all ages and designs and styles that they want, our customers will enjoy buying from us because they will find out what they need and again our sales will go up so will our profit. But in school it will be different because we will all be categorised as teenagers so we won’t know if we are reaching out to all ages or not.
Our other promotional objective also helps meet the needs of our business. For instance, if our business needs to be the best at what it offers, we have to show that our product is better than that of a competitor through promotional activities and the production of good quality candles. If we achieve this objective then we will meet our business need. We will beat competitors and attract more customers and reach our aim of making a profit.
The appropriate promotional activities that we will have to carry out for the stall in school are putting up posters around school and in the registers so that we get as many customers as possible. Our market size will be very small as we are only going to advertise and sell in school and are not going to sell to the public. We could also go in to assemblies and take some of our products to interest students. This would make people come to our stall even if it is just to look at our products. In school we know who are customers are so it makes it easier for us to promote our product as well as our business. Telling people face to face about our stall in school is an effective way of attracting more customers.