Assignment: Promotional Tools for a New Business
The following Course Outcome is assessed in this Assignment:
AB202-5: Recommend promotional tools to encourage customer loyalty.
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 and then address the checklist items.
Scenario:
You are the new marketing assistant at a new business, Rent a Jewel, better known as RJs. This business involves a vault-like building with a mall store access area in a high end indoor shopping mall which has been incredibly busy as it is located near Washington, D.C. They are about to open a new store in London. The store grand opening will occur online while simultaneously occurring in-store in London. Customers can pick up the jewelry they choose from the companys website pictures. 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 deposit box costs to store it. As United States (U.S.) customers as well as many international 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 that 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 formal grand opening for the London location will be next month online and in-store at the London location only. You are busy promoting this grand opening for the London location, on the company website, and across the Internet.
Checklist:
What promotional tools will you recommend to the owner of RJs that will promote customer loyalty and promote the London online and in-store grand opening?
What goals do you have for the store using these promotional tools?
How will personal selling be used in the company?
How can you build on the grand opening promotion of the London location to build brand awareness and customer loyalty?
Disclaimer: This exercise may include actual companies and brand names solely for instructional purposes; this exercise is not associated with any such actual company or brand name. All trademarks remain the property of their respective owners.
