Marketing 477 Exam 2

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4Marketing 477 Study Guide Exam #2

Promotional Plan Outline
* I. Executive Summary: Abstract of the entire plan (not an introduction) it’s a synopsis (5-10 pages) * II. Situational Analysis: There’s no order, just bullet points. It’s the information about consumers, gives an informed reason for everything that’s going to be followed 1. Companies and Product History

2. Product Evaluation
3. Consumer Evaluation
4. Competitive Evaluation
5. Other forces/trends (e.g. regulatory)
* Company and Product History: Research the advertising company has done, past advertisements/campaigns results if they could be measured and past budgets. * Example: Burger King, feat. Herb, in the ad he was Herb the Nerd because he’d never been to BK before; he was so excited for all the products BK offered. If someone saw Herb the Nerd in the local BK- you won something (This is LOUCEY). Now 20 years have past, and someone wants something similar…bad! * III. Marketing Goals:

* Simply a regurgitation (report) what the company is going to do with their strategy * This convinces the reader (client) what the promo is. IV. Budget: Detailed Explanation of proposed promotional expenditures. (How you’re going to spend their money) Money spent on media, research, creativity (to create the ads).

V. Creative Recommendations:
* A. Advertising Objectives
* “What do we hope to achieve with this promotion?” brand image, test things * B. Creative Strategy and Execution
* Actual advertising and/or promotional display, “how” (storyboards)

VI. Media Recommendations
* Media objectives (e.g. reach and frequency)
* How are they going to do it?
* Media strategies/plans (how the media objectives will be met) * Who will they reach?

VII. Other Promotion Mix Recommendations
* Sales promotion
* Public Relations
* Direct/Personal selling
* Example: How you never “See” a Starbucks ad, but they’re all around us.

VIII. Evaluation
* Effectiveness measures (surveys)
* Propose how the plan’s goals and objectives can be measure an assessed for effectiveness. (a good objective has to be measurable).

IX. Summary and Conclusions
* Find synopsis of the entire plan
* Opportunity to “pitch”
* In this final section, remind them what they’ve read and you hire us!

Promotional Advertising Objectives
V. Creative Recommendations
* Why set promotional objectives?
* Requires management at various levels of the organization to agree upon a course of action * Objectives give a number of other aspects of the promotional plan * The budget
* Creative (words, pictures, sounds)
* Media (where the ad is going to be placed) “literal” * Based on a target market- if you’re targeting towards teens, you’re not going to put your ad on the Hallmark channel. * Provides standards from which results can be measured * Objectives tell an advertiser where they want to go. But you have to know where you start and if you’re ready * Beatles quote: “ if you don’t know where you’re going any road will take you there.” Translated if you don’t set a promotional objective, any creative execution would appear to be potentially effective.

The Process of Setting Promotional Objectives
* Research (marketplace, product, customers)
* This could just be an observation of customers working at grocery store and observing the attitudes of customer’s everyday occurrence. * Establish benchmark (current conditions for a variety of things) * Taking note of things that are currently happening. * Decide on a fical point- what do you want to accomplish –Focus point? * Something you want to deal with specifically

* Write/establish your promotional objective
* “Is this how we want people to feel about us?”
** A good promotional objective should include the...
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