LEARNING OUTCOMES
   • Define promotion, using examples of different advertising 
    strategies. 
   • Prepare a list of suitable ways to promote the product or service 
    of the new venture. 
   • Provide suitable examples of the promotion of the product or 
    service of the new venture
             INTRODUCTION 
    • As we discussed the importance of research, types of research (Primary 
    and secondary) and other various ways to conduct it. Though the main 
    important part for previous lesson was questionnaires. Now we have to 
    use promotion as to test the results of the questionnaires that was 
    conducted which brings us to the topic of today which is determining and 
    implementing of suitable ways to promote the products or service of a new 
    venture.
    • Marketing is a challenge for small businesses, most of entrepreneurs 
    neglect it because they think is expensive and difficult.
    • In this chapter we will discuss techniques that are also relatively cheap to 
    market for small business.
               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
          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):
    1. 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
     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