Business Process Overview
- Create Promotion: Define the promotion details and objectives.
- Analyse Previous Performance: Review past promotion results and performance metrics.
- Compare Scenarios: Assess different promotional scenarios and their potential outcomes.
- Promotion Allocation: Distribute the promotion resources effectively.
- Submit for Approval: Finalize and submit the promotion for managerial approval.
This process involves creating a promotion, analyzing past performance, comparing various scenarios, allocating the promotion, and submitting it for approval. By following this structured approach, companies can ensure their promotions are effective, data-driven, and aligned with business objectives. Each step is essential to maximize the impact and success of the promotional efforts.
1. Create Promotion
This step involves defining the promotion details and objectives.
- Identify the target customer segment.
- Define the promotion type and mechanics.
- Set clear objectives for the promotion.
- Determine the duration and timing.
- Enter the promotion details into the system.
2. Analyse Previous Performance
This step focuses on reviewing past promotion results and performance metrics.
- Gather data from previous promotions.
- Analyze key performance indicators (KPIs).
- Identify successful elements and areas for improvement.
- Compare past promotions to current market conditions.
- Document insights to inform the new promotion
3. Compare Scenarios
This step involves assessing different promotional scenarios and their potential outcomes.
- Create multiple promotional scenarios.
- Model potential outcomes using data analytics.
- Compare the scenarios based on projected results.
- Assess the risks and benefits of each scenario.
- Select the most promising scenario for implementation.
4. Promotion Allocation
This step focuses on distributing the promotion resources effectively.
- Identify available resources and budget.
- Allocate resources to various promotional channels.
- Plan the distribution strategy for the promotion.
- Coordinate with relevant departments (e.g., sales, marketing).
- Confirm resource allocation and readiness.
5. Submit for Approval
This step requires finalizing and submitting the promotion for managerial approval.
- Review the promotion plan and details.
- Compile all necessary documentation and insights.
- Submit the promotion plan to the approval authority.
- Address any feedback or required adjustments.
- Obtain final approval and schedule the promotion launch.