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MKT 500 Final Project Milestone Eight Marketing Strategy—Pr.docx
- 1. MKT 500 Final Project Milestone Eight: Marketing Strategy— Promotion Guidelines and Rubric Overview: Your marketing plan should demonstrate a promotional approach that embraces the integrated marketing communications (IMC) as we have been reading about and studying in this class. This includes a clearly stated message that is consistently communicated to your stakeholders. This milestone is due in Module Eight. Your promotional effort should: tising, public relations, sales promotion, direct marketing, and personal selling. You should include the internet and social media, too, as appropriate to your promotional effort. approach. Outline this in terms of measurable tasks that you want to accomplish. What is the advertising goal to which you will measure success for your advertising expenditures? This is a complete description of your proposed promotion plan. omotional activities that you envision as essential to ensure an integrated approach to promoting your product or your service. Describe your execution (i.e., your rollout plan) in accordance with the following format for any and all expenditures (the
- 2. dollar figures will go into the IMC promotion budget). For example: 1) Weekly 1/4-page ads in the Sunday Ledger @ $5,100 for each edition. Ads run each Sunday for two months, followed by publication during alternate weeks through Week 52. Total Cost: $153,000. 2) Thirty-second radio spots on WBAL-AM, with two ads during morning drive time and one during evening drive time; ads to run five days each week for first month and alternate every other week for five months; ads to run once each morning every other day during months six through 12. Total Cost: $117,451. Consider what constitutes the most appropriate promotional mix of advertising, sales promotion, public relations, direct marketing, and personal selling that gains you the most “bang for the buck.” Who is your target market and what do you see as the cost per customer to reach them and to have them contract with you (i.e., purchase) your product or service? For instance, if you choose social media, which platforms will you select and why? How will you post relevant and interesting content? Videos? Sponsored content? Explain exactly what you will do, when—during the week/year—you will do it, and why. If you plan to use personal selling or direct marketing and have previously discussed these in your distribution section, reference that here and be sure you have fully covered the communication aspects of these tools.
- 3. You must show a clear understanding of what you want your IMC promotional strategy to do for you in terms of measurable outcomes. Ensure your IMC approach makes sense, given that you could easily spend millions of dollars (in theory) to promote your product or service. When all is done, your IMC strategy will provide an executable promotional plan that indicates the what, where, when, and how much. Rubric Guidelines for Submission: Your paper must be submitted as a 3- to 6-page Microsoft Word document with double spacing, 12- point Times New Roman font, one-inch margins, and APA formatting. Incorporate at least two scholarly resources. Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value IMC: Promotional Plan Recommends specific IMC activities and detailed action items, along with a plan for accomplishing each of those objectives Recommends IMC activities and detailed action items, along with
- 4. a plan for accomplishing each of those objectives, but the items or the plan for accomplishing them are not clearly articulated Does not recommend IMC activities and detailed action items or a plan for accomplishing each of those objectives 30 IMC: Promotional Mix Considers what constitutes the most appropriate promotional mix of advertising, sales promotion, public relations, direct marketing, and personal selling Considers what constitutes the most appropriate promotional mix of advertising, sales promotion, public relations, direct marketing, and personal selling; however, some activities are missing or not clearly articulated Does not address the most appropriate promotional mix of advertising, sales promotion, public relations, direct marketing, and personal selling 30
- 5. Marketing Strategy: Relation Describes how the product marketing strategy specifically relates to the company’s strategic focus, culture, and current business processes Describes how the product marketing strategy relates to the company’s strategic focus, culture, and current business processes, but description is cursory or missing key components Does not describe how the product marketing strategy specifically relates to the company’s strategic focus, culture, and current business processes 20 Application of Marketing Principles All marketing principles are applied correctly and authentically Most marketing principles are applied correctly and
- 6. authentically Marketing principles are applied incorrectly or not authentically 10 Incorporation of Scholarly Sources Incorporates at least two properly cited, scholarly resources that reflect depth of research Incorporates at least one properly cited, scholarly resource Does not incorporate any properly cited, scholarly resources 5 Mechanics Errors of grammar, organization, and style are marginal and rarely interrupt the flow Errors of grammar, organization, and style are limited enough that the paper is still able to be understood Errors of grammar, organization, and style make the paper
- 7. difficult to understand 5 Total 100% Question 1Sales PersonIntelligenceExtroversion$ Sales/Week1892126252932427003912131004122233150511527 31756100183100798192700810516247591122336251010928352 51113020322512104253450131042024251411126302515972836 25161152927501711325315018882326001910819252520101162 650 Question 2heightweightsatgmatsalary72.00175.001450.00730.00200000.0 064.00125.001200.00630.00100000.0065.00165.001170.00620.0 085000.0067.00100.001350.00650.00150000.0075.00168.00122 0.00640.00100000.0061.00118.001340.00720.0085000.0067.001 85.001300.00680.00100000.0070.00160.001360.00720.0050000 0.0073.00195.001200.00650.00300000.0067.00142.001370.0065 0.00150000.0074.00175.001350.00720.00200000.0070.00150.00 1220.00660.00425000.0069.00155.001440.00790.00125000.007 4.00185.001200.00680.00150000.0066.00125.001400.00670.001 20000.0070.00160.001480.00720.00350000.0063.00140.001460. 00730.00200000.0074.00195.001560.00700.00200000.0073.001 65.001290.00720.00300000.0072.00185.001160.00680.0025000 0.0072.00200.001270.00680.0050000.0063.00115.001400.00670 .0075000.0075.00190.001250.00700.00200000.0074.00195.0012 40.00670.00200000.0066.00124.001100.00630.0080000.0071.00 165.001340.00700.00100000.0065.00138.001320.00670.002250 00.0073.00170.001100.00650.00170000.0067.00122.001380.006 80.00175000.0072.00170.001000.00600.00300000.0070.00155.0 01300.00730.00200000.0070.50185.001140.00690.00250000.00 70.00190.001300.00690.00125000.0070.00156.001450.00760.00
- 10. .972.136860.7337- 43.686.0999810.1357596.665.520711.3468751.412.513085.7451 2.885.125498.0809452.476.176511.4716710.93.948255.3026292 .725.27886.8068367.461.990725.1921510.96.4703910.4509628. 376.3896310.4061609.694.535395.7201281.113.920859.685679 2.161.359453.1703343.886.4695210.7416645.536.7672211.0022 633.875.29410.0941693.544.8649.7121664.895.7344411.922686 4.942.631746.1496576.464.2087410.2859841.35.108699.736269 1.472.01615.0815462.94.11624.7868219.663.203475.9175415.5 71.96524.0777404.538.6979213.6441800.657.050659.9138495.7 54.586239.7792688.274.917416.3876334.367.0894913.4635897 4.777274.6437106.147.2049613.5573927.127.7969212.0858682. 150.472440.9041178.852.39629.3071883.115.087410.4219745.3 42.853617.6922680.233.748026.2279432.727.2167611.9934715. 644.418627.8028520.015.162396.4206296.71.0391-1.2589- 128.14.432482.8593- 20.342.40885.3087477.397.100728.3304324.611.105583.170728 7.363.473816.4331445.564.2302312.69861130.883.910417.0354 82.822.54242.9536179.576.069478.8234516.934.2222610.59618 75.27.5048214.88191018.15.789367.7333382.24.730016.488835 7.14 Linear regression and Multiple Regression assignment · Download R Deducer from the link below http://www.deducer.org/pmwiki/index.php?n=Main.Downloadin gAndInstallingDeducer · Use the data set provided on blackboard to answer the following questions. Each tab on the file will correspond to a question. 1. Is intelligence and/or extroversion predictive of the dollar vales of sales per week for the following sales personnel? 2. Which variables or what combination of variables is most predictive of salary?
- 11. 3. Which variables or what combination of variables is most predictive of food score? 4. Is class rank (freshman, sophomore, junior, and senior) predictive of GPA? Remember that class rank is ordinal. 5. Is the DIFFERENCE between your own price of an item and your competitor’s predictive of the sales numbers?