The Promotional Plan
The Promotional Plan MKTG 477
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This 4 page Class Notes was uploaded by Clara Kerrone on Sunday March 1, 2015. The Class Notes belongs to MKTG 477 at Washington State University taught by Dr. Darrel Muehling in Fall. Since its upload, it has received 217 views. For similar materials see Promotion Management in Marketing at Washington State University.
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Date Created: 03/01/15
The Promotional Plan Monday February 23 2015 1012 AM 10pt Q for exam 2 Give me a heading for each component of the promo plan outline and a 12 sentence description of what is in that section THE PROMOTIONAL PLAN OUTLINE l Executive Summary a Abstract of the entire plan b Sometimes the exec summary could be 1015 pages in length not just a short paragraph The entire plan could be up to 200 pages the summary is just a review of it c Stand alone document could be the only thing that the client seesreads d NOT just an introduction l Situation analysis a Research that the agency does to allow it to gain insights about all the other parts of the plan that they are going to be Creative media decisions budget etc are all decided from this a This is the ad agency doing its homework before starting i Companyproduct history past advertisements and campaigns how much money was spent on those campaigns and quothistoryquot of company when started who etc ii Product evaluation iii Consumer evaluation what does the consumer like and dislike iv Competitive evaluation who are our competitors v Other forcestrends l Marketing Goals a Marketing Tell me your target market and 4Ps Strategy Done by clientcompany Aspects of product where sold pricing etc Promotional Advertising sales promotion PR Strategy personaldirect selling Done by agencyadvertiser Budget a Detailed description of where the money is going to be going a Can be the rst thing some people look at b What are the 3 biggest expenditures for advertisers for developingexecuting a promotional strategy Media Ad productioncreativity and research Creative recommendations a Advertising Objectives what do we hope to achieve with advertising Change an attitude get people to come test drive refer me to someone else etc b Creative strategy and Executions not on exam 2 how are you going to execute it Ads on tv youtube What does it look like The words pictures sounds images etc Media recommendations a Media objectives reach how many people and frequencyhow often i How will we literaly reach our target market Where and how much a Media strategiesplans how the media objectives will be met Other promotional mix recommendations a Sales promotion more corporate money spent on this than advertising b Public relations c Directpersonal selling Evaluation a Effectiveness measures b Propose how the plans goals and objectives can be measured and assessed for effectiveness c How exactly will we be able to determine if our objectives were met Summary and conclusion a Not the abstract or full edged analysis just a synopsis of the entire plan b Opportunity to pitch the account The Process of setting promotional objectives Research marketplace product customers If you were a local store owner and were working on the oor you39re collecting data You can see who comes in your store what they like and don t like etc Research doesn t have to be quotofficialquot it can be constantly and routinely collected without even realizing it a WSU can collect data on date rape GPA before and during college dorm living etc Establish benchmarks current conditions for a variety of things a Telling Pres Floyd that 13 of freshman will be sexually assualted their freshman year tell him the GPA is 32 to get into the business school etc I Decide on a focal point what do you want to accomplish and focus on a Based on the info you ve been given decide to focus on something speci c Focus on sexual assault decide to make info yers to try and spread knowledge I Write establish your promotional objective do you just want to make people aware of the stats of sexual assault most of the promotional objectives have nothing to do with sales they are to change beliefs attitudes encourage behaviors etc 1 Create the ad with the objective in mind the ad should attempt to achieve the objective 2 Assess whether the ad has met its objective Why set promotional objectives Requires management at various levels of the organization to agree apon a course of action Objectives guide a number of other aspects of the promotional plan 0 Budget directly correlated with objective Wanting to go from 1030 awareness compared to 1090 awareness of an issue is going to cost completely different amounts 0 Creativereaching creatively the words pics and sounds lf objective is to increase brand awareness than DON T create an ad that barely shows the brand at all The brand name should be front and center constantly show people in the ad if the reach is product user etc Change brand attitude of consumer o Mediareaching literally where the consumer will see hear be exposed to the ad Identify who the target market is and place the ad accordingly lf reaching kids do a kids tv show commercial lf reaching a health junkie maybe a health network or magazine Provide standards from which results can be measured Objectives tell us where we are now where we are going and how we know whether or not we got there If you don t set a promotional objective any creative execution would appear to be potentially effective even though it isn t If you know this is what you want to accomplish you can accurately evaluate your idea A good promotional objective should include the following Benchmark starting point current status quanti ed o A level of awareness of a brand being ratio etc Goal ending point quanti ed and coinciding with the benchmark o If we start with a of brand name awareness the goal would be to change the level to Target market de ned who is it that you are hoping to in uence with your promotion Demo Psych Geo Behav 0 There should be no uncertainty on who exactly you are trying to in uence Time Period when do you hope to achieve your goal bullet 2 remember that this is being written by the agency for the advertiser This is the agency saying I am liable until normally 6 months to a year to obtain our objective Give a speci c date start time time period and end time 1 Measurement technique how will the benchmark and goal be measured and quanti ed
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