Develop a media plan for your product / service that examines: I. Identification of the Target Audience: Who are the potential buyers or consumers of your products / service? Who are the influencers? Use the segmentation variables we reviewed in class as
a guide.II. Design the Communications Message: Buyers pass through three consumer response stages cognitive, effective, and behavioral. What you say may be influenced by where the consumer is at any one time in these three stages. What is the communications message that you will use to promote your product? III. The Media Communications Mix : Your media plan will look at four of the major modes of communication (you may use others reviewed in class such as personal selling if it is a better fit to substitute for up to two of these modes):
a. Advertising: Are your advertising objectives to inform, persuade, reinforce, or remind? What advertising media mix is being used? Are you including media that your target market will see?
b. Sales promotion: What consumer promotions are being offered? Examples are samples, coupons, warranties, cross – promotions, point of purchase displays? Describe how you would present the offer?
c. Public relations and publicity: What types of public relations would you use? Would you offer a news release to newspapers or other media about your product / service? If yes what would be the subject. You may offer other types of public relations activities such as those listed in the text.
d. Direct Marketing: Will you offer direct marketing efforts? For example, direct mail, telephone calls, emails, mail order catalogs, or kiosk marketing? Would you use direct marketing through the website or internet? You may use another mode of marketing communication such as those described in the text and class such as internet marketing, personnel selling, trade shows, outdoor, please confirm your choice with me.
Promotion Budget: You need to develop a promotion mix budget for the communication plan only (not for business operations or product development) to give an approximation of cost you will spend on each promotion component. Let us know how you obtained the total budget funds that is available to spend on promotion activities that you would use in your promotion plan. Give the estimated expense of each activity and the percentage of the total budget. Arrange in an excel spreadsheet.