Instructions
Please see the End of Chapter Question below. To answer this question, be sure to review the referenced article, if one is referenced, and the related part of the text. You are to answer this question in 175-200 words without the use of AI tools. As part of your answer, please cite a reference to an article or blog post supporting your position. This article or blog post must be different from the one cited by the instructor in their question and cannot be the textbook.
Question1
Why is the concept of Integrated Marketing Communications so important?
Importance of Integrated Marketing Communications
Question2
When should you use an institutional style advertisement?
Product Advertisement vs Institutional Advertisement: What You Need to Know
Question
What is marketing?
What is Marketing? - The Definition of Marketing
——————————————————————
Marketing Plan
Introduction
In the previous assignments, a market opportunity and specific segment to exploit have been identified. For the specific segment, the characteristics of the segment and their preferences have been identified. The time has come to show how to use the 4P’s of marketing to effectively reach and capture this market. This paper will show how the various elements associated with product, price, place, and promotion will be used to draw in consumers and convert them to customers.
Deliverables
Product
- A description of the benefits you will provide the target segment that fit with those listed in the Buyer Behavior assignment. You want to relate these to the specific features that will be included with your product or service.
- A discussion of the branding strategy that will be used. This strategy must align with that used by the company.
Price
- The basis of pricing decisions, i.e., maximizing sales, profits, market share, etc.
- A description of the economics associated with this pricing strategy. This includes the calculation of a breakeven point in units for the strategy.
- Proposed pricing adjustments and a description of how they will help meet the goals of the plan.
Place
- Planned distribution strategy, e.g., Direct to Consumer, Business to Consumer, or Business to Business.
- A discussion of how channel partners will be selected and the roles they are expected to play in the distribution of the product.
Promotion
- A discussion of how the AIDA model can be used as a stand-in for the sales funnel.
- A discussion of the advertising campaign that will be used as part of the promotion. This will include the various messages you wish to convey and the way they will be conveyed.
- A discussion of how public relations elements will be leveraged as part of the promotions plan.
- A discussion of how sales promotions will be used to meet the planned objectives.
- If applicable, the role of personal selling in reaching the sales objectives set.
The above should be discussed within the timeline set for this plan to take place, i.e., awareness advertising is expected to start at Time-X and last Y months, or price reductions will take place Z months after introduction to account for changes in the market.
You must use third-party sources when preparing your paper and ensure it includes a reference section at the end.
Format this assignment with 1 inch margins on all sides, 10-12 pages double-spaced, with 12 point fonts
——————————————————————
After you are done I will begin the test and send you the five questions as the last time..