week 4 course project draft

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MKTG522_-_Week_4_Course_Project_Assignment.docx

Your document should include all of the main sections of the plan with headings and subheadings where relevant. Each section should briefly describe the contents that will be included in each section. The purpose of a draft is to enable you to map out your ideas and think through how well your plan fits together. This draft will guide you to successful completion of your final report and PowerPoint. This document should be 1,000–1,500 words. Include sources and present these in APA format.

In this draft, you should include the following sections that will be in your written report:

Executive Summary (this is written last and is usually one page long)

A.  Introduction

B.  IMC Objectives (Quantify)

Identify the brand and the principle objectives of the campaign and quantify where possible:

·  Attract new customers

·  Retain existing customers

·  Branding objectives

·  Marketing and corporate objectives

C.  Market Analysis

A detailed analysis will provide the specific details for decision-making:

a)  SWOT

b)  Segmentation and Targeting

c)  Positioning

d)  Product/Service

e)  Customer Profile

f)  Marketing Channels

D.  Communications Strategy Plans

Listed here are the typical options available that form the communications strategy mix – marketers must think about how they need to match competitors or provide novelty, each strategy requires a specific objective, a media strategy, a media plan, and a budget. Each communications strategy (e.g. a traditional media campaign involving a print ad in a magazine) requires:

·  Specific Objective

·  Media strategy: Big idea, Message, Copy, Visuals

·  Media Plan: Reach and Frequency

·  Budget: How much will this cost?

a) Traditional Media

A paid for, mass-mediated, attempt to persuade, use to build brand identity, this is a big investment:

·  Television, Print and Radio

b) Internet

As advertising became more expensive and the Internet grew – online communications have become a cost effective option with the added benefit of being measurable (closed-loop marketing) – this area has become highly specialized:

·  Search engine optimization (SEO) strategy: Google AdWords

·  Online advertising: Banners, reciprocal links

·  Social media: Facebook, Twitter, YouTube, Pinterest, Instagram…

·  Website

c) Direct Marketing

Direct marketing evolved from the catalog business, which involved gathering customer information – this approach is data base driven and is used to send personalized messages either by mail, phone, email or text messages, inviting a direct response. There is an important role for direct marketing in branding as it facilitates relationship building and customer retention. This is becoming integrated into a web campaign. Direct marketing might include:

·  Post cards

·  Personalized mailings

·  Emails concerning special offers

·  Newsletters

d) Sales Promotion

Alongside traditional advertising, there are many options for communicating with customers and building positive associations with the brand – sales promotion is growing in popularity and can be incorporated into a direct marketing piece such as a postcard or email.Sales promotion is instant demand stimulation, it creates a perception of greater value through contests and samples, it compliments the longer term advertising campaign, it motivates trial use, and encourages larger purchases or stimulates a repeat purchase.  Sales promotion is helpful when launching new products and new product samples can be attached to existing brands.  Problems arise because frequent sales promotions alter price perceptions and encourage consumers to become “deal-prone”. Examples include:

·  Consumers:  Coupons, price-off, gift with purchase, contests, samples, mail sampling, newspaper sampling, on-package sampling, mobile sampling

·  Trade/Business: Training, allowances, incentives, trade shows

·  Internet: New opportunities for contests and trial subscriptions

e) Public Relations (PR)

PR is a communications function used to promote understanding between an organization and its various stakeholder groups. PR is a critical component of brand building and generates publicity for the brand, helps solidify the public’s opinion of the brand and defines the brand; seamlessly.

Public relations involves:

·  Creating publicity; buzz, viral messages

·  Building media relations

·  Corporate communication (issues management, community relations, government relations, industry relations)

·  Building employee relations

·  Maintaining financial/investor relations

·  Crisis management

·  Image building

·  PR deals with what is difficult to control; but a company can be prepared

·  PR amplifies the effects of other communications strategies

The tools of PR include:

·  Press releases

·  Feature stories

·  Company newsletters

·  Press pack

·  Interviews and press conferences

·  Sponsored events

To elaborate further on the Communications Strategy Section there are numerous options; marketers should consider a mix of the following depending on the problem being addressed – you may wish to provide additional strategies that you feel are more relevant.

E.  Communications Schedule

Using a calendar that covers the timeframe of the proposed IMC indicates when the specific elements of the communications strategy mix will occur – including:

·  Launch dates

·  Key events

F.  Budget and Evaluation

Develop a list of the planned communications strategy mix and estimate the costs of each component

G.  Conclusions

Summarize and tie the overall plan to the IMC objectives.

 
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