1) Promotion Plan Written Assignment
This assignment has two parts;
1) Completion of the Promotion Plan Template,
2) Summary rationale for the promotion methods and budget request.
Background
You have been asked to outline a promotion plan for a new product. You may choose and identify the name of the company, product, brand, model, and other relevant information in your paper.
Identified Need
Vehicle to transport active family of four to school, work, athletic events, shopping, and other venues. Must be cost-effective to operate, consider environmental impact, be affordable, somewhat stylish, and have good resale value in five years.
Target Market
Parents of school-age children, where both parents work to earn annual income of more than $90,000. Children are active in school, sport and church activities and family spends most non-working time together.
Task
Using the template provided, develop a one-year promotion plan that reaches this target market within one state (you may define the state). The overall objective of the plan is to achieve new product sales of $50 million. This will be a high level plan that identifies the key promotion categories and tactics so that an expense budget can be built. It will not identify details of each sales campaign within each promotion tactic.
Promotion Plan Template
This planning tool is used after the overall marketing objectives have been defined and helps an organization Identify specific tactics that will achieve results. It also allows a planning team to cross check results with promotion costs to ensure that a project is worth doing. Finally, it establishes some measure that will be used to track the success of a given project.
Promotion Plan Template
To complete the planning grid consider the following series of questions. Not all questions are relevant for each promotion:
1. Objective(s) of the promotion project (not the entire marketing plan but each specific promotion tactic)
What will be achieved?
How will success be measured?
2. Target Audience
How many people will be reached?
Where are they (geographic distribution)?
Demographic information (age, income, ethnicity, gender, income, etc.)
Behavioral information (what will motivate them to act)
3. Tactic and Positioning
Which promotion method or media will be used?
What is the feeling the promotion should create?
What action is desired from audience?
4. Cost
What cost should be budgeted for this promotion tactic?
5. Results
What quantitative results are expected from this promotion method? You may use units sold or revenue in dollars.
After completing the Promotion template that defines the key promotion activities, provide a 1-2 page summary that explains why these promotion methods are best suited to reach the desired target audience and achieve the stated goals. Envision providing this summary to senior leaders to request the total Promotion budget tallied in the planning tool.