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Effective Promotion Strategies for General Cable Company

Apr 29, 2023 | 0 comments

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Apr 29, 2023 | Essays | 0 comments

The promotional action plan for General Cable Company will allow the company to put into action the vision through completion of the marketing plan of the company. The provided action plan will encourage the company to monitor the promotional strategy results to keep management improving the company. General Cable Company adopted five different promotion items which include;

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Action item 1

Action item Send brief survey to all the company’s important customers.
description               This will be done by directly contacting these people either by ordinary mail or email. This will be made simple from the existing company’s database of addresses and names. Email or direct mail will be sent to the important customers with new products and service new updates that the company offers. Small prize and gifts will be offered in customers who brought referrals.
The company will also make a products and services list linked together, so that when a customer contacts the company, they purchase more than one item.
objective To make an assessment of customer satisfaction of all the company’s customers who spent more than $1000 every year and averagely get them to increase their annual totals by 30%.
Target market The existing customers of the company who have spent  more than $ 1000 with the company
budget This promotion is expected to run for six months and the estimated budget is $4800
metric The evaluation of the project will be done according to timelines. The promotional plan will run for about six months with stated guidelines on how the company should complete its items. The interest on the renewed interest on the company’s new products, preference over our competitors and response to our mails will form the criteria for the company’s success. The expected outcome is an increase by 20% of our normal sales from the same customers.

                                                                        Action 2

Action item Conducting seasonal of special sales with prizes, gifts and discounts.
description The General Cable Company will conduct a special sales seasons by inviting potential clients and existing clients. The invitation will encourage them to come with a friend. Special deals will be offered alongside the normal services and products of the company. This is the period whereby the company will dispose some of their products at low prices to attract more customers
objective To increase sales and create customer loyalty.
Target market Local users of our products, wholesalers and retailers. Approximately the company expects 1000 more clients
budget $20,000 for prizes, gifts and staff motivation
metric The company expects to reduce its stocks by 40% through sales and create additional clients through disposal of their products. The customer’s data base is also expected to rise by 10%.

                                                            Action 3

Action item Conducting a one week trade show incorporating general hardware stores and dealers
Description The company will plan to organize one splashy big international trade show where the company will display the new products in addition to the existing products of the company. Advertisements will be done in advance by inviting suppliers, customers, clients and other contacts to attend the show. During the trade show event, fliers, catalogs and banners with the full description of the company’s products and services will be given to people.
            Objective To launch a new refined copper cables expect to be known by a number of wholesale suppliers.
Target market The target customers include the whole sale buyers, retail customers and other whole sale dealers.
Budget The estimated budget is $3000 giving consideration to the amount of displays , attendance and the high traffic area of the venue
Metric Evaluation of the trade show will be done by the number of potential customers in attendance, the quantity of the fine copper cable sold and the number of clients who signed contract deals to market during promotion times. Getting a cut off discount on a certain amount of purchase the items in the near future. The expected number of attendees is 800 people with sale quantified in $100,000.

                                                                        Action 4

Action item Conducting one year in internet marketing
description This promotional strategy will use the internet in delivering the companies promotional and marketing messages to consumers. The platforms that will be used include social media marketing, search engine marketing, email marketing and different forms of display marketing. The display advertising that the company will also employ include the frame ads, web banner, pop ups or pop under, floating ads, expanding ads, interstitial ads, text ads and trick banners
objectives To reach out to the potential markets of the internet users internationally, increase awareness of the company’s brand and increase the customer base.
Target market The online merchants, general hardware dealers in other countries and different organizations and governments
Budget $10,000
Metric To assess the viability of the promotional plan, the number of clicks on out online adverts will be sampled. Online contacts through our contacts in the adverts will also be evaluated in addition to the quantity of orders purchased online through the internet promotion. The expected advert reach out are 3,000,000 million people per month through the sponsored adverts.

                                                                        Action 5

Action item Half page international Business Magazines advertisements in quarterly and semi annually issues distributed in different countries and regions
Description The potential and identified magazines are the Forbes magazine, Harvard Business Review and the Washington Business Magazine. With their millions of copies produced and over three million subscribers with an estimated triple of readership, this magazine advertisement will be strategically placed at the top of all business adverts. This advert will the most distributed in this financial year.
Objectives To promote company brand awareness and products and services to the middle class to upper economic class people
Target market Readers interested in our hardware products, looking to install some appliances in their companies or looking to replace or repair their organizations facilities using our products and services. Most of these organizations and individuals have a subscription to these business magazines.
Budget $115,000
Metric For one year, the goal is to install power cables to companies and different organizations across different regions within the country and even internationally. Additional interests from potential clients from other regions will show the company of the worth of the magazine advert.


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