Marketing homework help. Instructions and Requirements for Preparation of IMC Promotional Plan & Presentation
Perform the following activities:
• Identify a product, service or idea that you would like as the focus of your plan.
• Conduct a Situation Analysis
• Establish Objectives for overall program and for each element.
• Develop a Promotion Strategy based on the various aspects of Integrated Marketing Communication presented in the course.
• Establish a budget based on your promotional plan.
• Define how the plan will be coordinated among the various IMC elements.
• Establish criteria for measuring the success of the promotion plan.
• Final written plan due as per the schedule
• Present the plan to the class as per schedule
Possible Work Outline for IMC Promotional Plan Project and Presentation:
• Conduct Situation Analysis
• Characterize the product, including the physical product, related service and other intangibles; the position of the product in the market/industry.
• Evaluate Demand, including Total Market Opportunity Value (total available market revenue for your product and all other competitors within your target market)
• Consumer needs assessment – identify the product in terms of filling target market(s) need(s).
o Cultural and social influences – identify the cultural and social aspects of the market place that might influence your choice of marketing communication alternatives.
o Product category and brand attitudes – identify the overall product category in which you are marketing your product and critical aspects of brand attitudes within your market. Explain how your promotion plan will address the attitudes typical in your target market(s).
• Definition and identification of target markets
o Segmentation – identify the distinct segment populations that might be attracted to your product.
o Targeting of selected segments – explain why you have selected the prospective segment(s). Characterize your target market(s) in terms of their demographic, psychographic and behavioral characteristics.
o Positioning – how will your product be positioned within the market relative to the competition and within the market category.
o Individual differences among potential customers – identify how your plan will address individual differences within the target market(s).
• Consumer decision-making processes – identify the predominant decision process within your target market(s) as to their cognitive, affective or behavioral characteristics and explain how you arrive at your conclusions.
• Competitive assessment – who are the competitors and what are their respective estimated market shares. Explain their strengths and weaknesses and how you intend to differentiate your product through your promotion plan.
• Legal Considerations – what kind, if any, legal restrictions in your promotion plan will you face (regulations affecting your message strategy and approach).
• Internal organizational considerations: Strengths & weaknesses.
o Personnel skill levels (what kind of people do you need to make this work)
o Use of outside resources – what other professional resources will you need to execute your plan.
o Monetary resources and priorities – what do you expect to spend to achieve your marketing goals and how will these resources be distributed among the IMC components you intend to use.
• Establish objectives for the overall promotional program and for each element of the same. Each objective must meet the following criteria:
o Doable but challenging, given available tools.
o Specific to an identified target market.
o Results can be measured
o Time dependent or controlled.
• Develop a Marketing Strategy using distinct IMC components.
o Advertising – explain why you feel advertising is a necessary component of your strategy based on principles earned in class.
o Analysis of media resources – describe why, among the various alternative advertising media you have elected to use or not use them.
o Message determination – what is the underlying philosophy behind your message and how does in tie to the Consumer Decision-Making Process for your target market(s).
(continued)
o Personal selling – explain your approach and why this might be or not be a component of your IMC plan
Analysis of resources – if electing to use Personal Selling, what is the profile of your typical representative (education, training, etc.)
Selection, motivation, deployment, compensation and evaluation.
• Stimulation of reseller support – explain methods of sales promotion you intend to use if your plan involves a reseller scenario.
o Analysis of reseller resources – type of reseller and criteria for success (agent/distributor resources, experience base, criteria for selection).
o Improvement and augmentation of performance (criteria).
• Consumer sales promotion – explain the Sales Promotion components of your IMC plan.
o Choice of types – explain why you chose the different sales promotion elements you did and how they tie in to your overall IMC plan.
o Packaging as promotion – what will be the main criteria for packaging your product and why.
• Supplemental communications (social networking, publicity, sponsorship marketing).
o Assessment of any relevant publics – explain who should be targeted/informed and why.
o Determination of media and message – how will you establish/issue/distribute messages that will reinforce your IMC plan.
• Explain how the respective program elements will be integrated to achieve synergy among the various elements.
• Determine dollar appropriation: In total to the various promotional elements
• Coordination and integration of efforts – identify the timing of the various elements of your IMC plan and how they will work together to accomplish your promotion goals.
o Achievement of proper balance between program elements – how well does your plan address your goals?
o Scheduling of execution – provide a schedule of execution.
o Utilization of personnel and outside services
– within the execution schedule, identify the employment of any internal or external resources.
o Dollar-appropriation revision – reconfirm the distribution of your resources to achieve the objectives of your overall plan.
• Measurement of effectiveness for the program and for each program element – what will be the measurement criteria you will use to determine success of your plan.
An individual “hardcopy plan” (minimum ten pages including drawings, maps, graphs, tables, figures, examples, charts, and appendices) is due before the last class meeting. This is to be considered a report written for someone with little knowledge of IMC. Plans must be written and typed in modified APA style format. For every two misspellings or typos on a final plan, one point may be deducted with a maximum of 10 points taken off for such errors. Use the text and any relevant handouts for guidance. Often, the difference between a good plan and a poor one is only in the number of examples, photos, maps, drawings, etc. used. Be sure to include all observations that you can tie to the concepts in the textbook. You may include any recommendations and suggestions in your plan and presentation.
You will present your findings to the class in a presentation (5 minutes) on your individual plan due before the end of the semester. Please use the text and handouts and instructions for guidance in your oral presentation. All reports must be submitted and individual presentations are due at the beginning minute of the class meeting noted on the syllabus. There are no exceptions. Often, the report or project may be viewed as “incomplete” per the planning specified by you initially in your project. This does not constitute a reason for failure to write a plan.
OUTLINE FOR PRESENTATION (Adapt to your product/target market)
• Introduction of product and summary of choice.
• Situational Analysis – describe market, TMO, targeted segment(s), customer profile, strategic positioning.
• Goals and Objectives
o Strategy – Summarize all components of your plan
o Objectives – identify objective(s) for each plan component
o Tasks – identify the specific tactics, tasks and timing of your plan execution.
o Costs – explain the employment of your financial resources and the anticipated return against expenditures. (repeat for each objective)
• Implementation Detail: Schedule of tasks, who implements, information necessary for implementation PRESENTATIONS SHOULD BE 5 MINUTES IN DURATION.
