ASSIGNMENT: CLIENT'S REQUEST FOR PROPOSAL
DESCRIPTION:
Your team is a client (company commissioning work), and you will create a request for proposal (RFP), which will be given to an agency to develop a media plan pitch. Your RFP should be very comprehensive and should include all the necessary information for an agency to understand your business and marketing objectives. The agency will use your RFP to create an integrated media plan recommendation.
ASSIGNMENT TASKS:
1. Form a team with 2-3 students. ensure that everybody is contributing fully. Your work will be evaluated individually, and all team members should have equal roles presenting during the session.
2. Decide on the brand or product you will represent. It should be well-known, so that the other students could relate to it.
3. RFP must include the following sections:
a. ABOUT YOUR COMPANY: Describe your brand/product
b. BUSINESS CHALLENGE: Describe what your business is currently going through and why they need the new media plan. (Examples of business challenge could be: decreasing sales, expanding into a new market, launching a new product, etc.)
c. COMPETITION: Describe your competition and how they engage their customers.
d. BUSINESS OBJECTIVES: Describe your larger business objectives that the executive suite is focused on achieving in the coming year(s). Be as specific as possible. (Examples of business objectives could include: Achieving $100M in revenue, growing faster than the market, strategic expansion into adjacent spaces, etc.)
e. MARKETING STRATEGIES: Describe market strategies that your organization has in place to achieve business objectives. (Examples of marketing strategies could include: Leverage established brand equity and customer base to expand into adjacent spaces, target a new customer segment - 21-28-year-olds, reposition the brand as a technology leader in artificial intelligence, etc.)
f. CUSTOMER TARGET SEGMENT: describe to the agency the customer you are planning to target: demographic, psychographic, behavioral profile.
g. EXCLUSIONS: please let the agency know if there are any specific items, objectives, which should be excluded from the media plan. The agency will not be successful in achieving all of your objectives, so it is critical to inform what should not be their focus.
h. AGENCY ASK: be very specific in asking the agency what they should deliver with their integrated media plan. Your ask to the agency should include the following (you should just provide questions for the agency to answer with their proposal. DO NOT ANSWER THESE QUESTIONS):
i. Develop an integrated media plan to overcome our company's business challenges and achieve our marketing objectives
ii. Review our suggested customer target segment profile and see if you could uncover additional insights about their behavior, which could be leveraged in the media channel selection.
iii. 2020 Media plan should include:
1. Creative vs. media budget (investment) suggestion
2. Media budget by channel by month for 2020
3. Media channels recommended. Please be very specific and provide a written explanation why your suggested media channels are the best fit for this our organization
a. Ensure that you directly tie the media selection to customer target segments, business and marketing objectives.
4. How our competition is engaging customers and how we will be different?
5. How you will measure media plan's success by media channel. Media plan should be based on maximized ROI.
iv. Your integrated media plan should convince us to select your recommended approach, so please be creative, persuasive, and challenge our thinking.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.