A strategic promotional plan for Live Truth Live Catholic
Live Truth Live Catholic (LTLC) is a Catholic book and gift store located in East Legon, Accra, and has been operating since March 2019. At LTLC, they have an extensive product range such as religious books, rosaries, jewelry, CDs/DVDs, sacramentals, Holy water, and clerical shirts among several other products. The management of LTLC expressed that they have a low customer base. A needs assessment showed that their promotional efforts have proved ineffective, resulting in low customer acquisition and retention because their current promotional strategy is not appropriate for the type of market that they operate in. Their promotional strategy is only reaching 0.07% of their potential customers because it is not targeted correctly. Literature suggests that when developing effective promotional plans or strategies, businesses have to consider the characteristics of their target audience, factor in their promotional goals or objectives, and identify the tasks that are essential in achieving these objectives. The proposed solution uses elements of the promotion mix to develop a customized promotional strategy that comprises of advertising, direct marketing and sales promotion. To carry out these strategies, LTLC has to consider the stages a consumer will go through before they decide to make a purchase at their shop through the use of the AIDA model: attention, interest, desire, and action. Each element of the promotion mix can be used to achieve one or more stages in the AIDA model.
Applied project submitted to the Department of Business Administration, Ashesi University, in partial fulfillment of Bachelor of Science degree in Business Administration, May 2020
marketing, SME, specialty retail, promotional plan, social media