A department store sells sport shirts in three sizes (small, medium, and large), three patterns (plaid, print, and stripe), and two sleeve lengths (long and short). the accompanying tables give the pr
September 2, 2020
Chapter 1: Attitude, Goal Setting, and Life Management MindTools. (2016). The full toolkit. Available at https://www.mindtools.com/fulltoolkit.htm…
September 2, 2020
Show all

Week 6: Communicating Value via Promotion! – You Decide Help Print This Page Defining a Communication Plan Instructions:

Help Print This Page Defining a Communication PlanInstructions:In this scenario-based activity, you will need to review the scenario presented to you, your role in the process, and then read the viewpoints of the key employees that have been assigned to help you with this activity. Be sure to view the grading rubric at the bottom prior to proceeding to the activity. Your completed paper will be submitted to the Drop Box. Scenario Scenario SummaryContinuing with Graves Enterprises and its floor care products from Week TWO, both business units are doing well. They have been focused on expansion and have developed new users of their products. While the decision to expand is part of the charter of a company, the strategic moves the company makes have implications across the three key functions — finance, marketing, and operations. With this is mind, you want to focus more efforts now in developing the consumer products area, recognizing that integrated marketing communications (IMC) will be central to its success. Next week, you are expected to share a promotional plan with your CEO in time for the quarterly Board meeting. The CEO is interested in the marketing communications plan, but is most interested in the impact this is expected to make on the business and its profits.This is the focus of this exercise.Your Role/Assignment As Vice President of Marketing, you ask to meet with your Marketing Director of Consumer Products in order to gather more information. After your meeting, you will need to summarize your findings by creating a written report. CHARACTERS Graves EnterprisesGraves Enterprises Central CharactersJoshua Edwards Marketing Director, Consumer Products Rena Morales Marketing Director, Commercial ProductsAbbey BuzweldaFinancial Analyst K E Y P L A Y E R S Joshua Edwards, Marketing Director: Consumer Products“As you know, year to date, Graves Consumer Products’ sales have appreciated, with a 150% increase in overall business profits across all consumer products. We are most proud of this achievement, but recognize this is only the beginning. Therefore, we propose the following marketing communications plan. At the same time, we seek advice as some ideas require a considerable investment in resources. For example:We wish to develop a comprehensive television and print advertising campaign. The print advertising will buy space in “Good Housekeeping” and secure the “Good Housekeeping” Seal of Approval. The estimated cost will be $25 million dollars, and this is expected to sell ONE MILLION additional units this year at a gross profit of $2.00 per unit. Although this is a sizable investment, via an aggressive pull strategy, it is expected to secure retail shelf space, while attracting 500,000 new users at a retention rate of 47%.The next idea is to offer co-operative advertising with a 2X payout if product is displayed on an end cap display. The estimated cost will be $1M, and we expect to sell TWO MILLION additional units this year at a gross profit of $2.00 per unit. Though this is a sizable investment, it will pay for itself in guaranteed sales. Co-op advertising dollars are based on wholesale product purchases. Again, it is expected to secure retail shelf space via this aggressive pull promotion strategy, while attracting 500,000 new users at a retention rate of 47%.We want to create an on-package instant coupon to promote immediate purchase for the comparison shopper at the point of sale. We will limit the on-packs to every four bottles, thus managing the cost and seeing if there is an impact to this promotion. We will trial and track this promotion in our top ten geographies (MSA’s). The estimated cost will be $3M, and it is expected to attract ONE MILLION additional units this year at a gross profit of $2.00 per unit. We also want to develop a trial size to be used as a co-promotion with new carpet installation of Dupont Premium Carpets. We will seek the implied endorsement of Dupont to position the product as a premium product and the recommended “cleaner of choice.” The estimated cost will be $2 million dollars, and it is expected to attract 200,000 additional units this year at a gross profit of $2.00 per unit. Finally, we want to develop an aggressive public relations campaign that capitalizes on eco-friendly, safe products, while touting our “Good Housekeeping” Seal of Approval. A $200,000 investment will fund such a campaign.We recommend an integrated marketing communications (IMC) campaign that will incorporate all of these elements, and we seek your approval moving forward.”Rena Morales, Marketing Director: Commercial ProductsAfter the meeting with the Marketing Director of Consumer Products, you received a call from Rena Morales, Marketing Director: Commercial Products. “In talking with Joshua, I understand that his plan has great potential in the consumer market. However, I have concerns about the impact this will have on our cash cow, the commercial products. Given the recent budget constraints, I am questioning if this is the right investment. I appreciate that consumer products is in keeping with the future direction of the company. However, I am concerned that reducing our promotional efforts in the commercial markets will deeply erode this value business. ”Abby Buzwelda, Financial AnalystYou decide to contact Abby Buzwelda, Financial Analyst, requesting an independent review of the impact on both business units, as a whole. Her analysis shows a breakeven for the consumer products at Year TWO if the entire campaign is conducted. The report further shows that there may be media cost savings leveraging the campaigns for both business groups, targeting advertising agency fees, media buying costs, and production expenses. However, it would require both business groups to utilize a single advertising and media buying agency. Currently, they use independent agencies. Y O U D E C I D E Activity Read the YOU DECIDE scenario and using the simulation information, prepare a 2 to 3 page report (at least 300 words per page). Please ensure use of APA format (see Doc Sharing ). Discuss the development of an integrated and cost effective marketing communications campaign. In your paper, which is double-spaced, be sure to answer and/or do the following:1. Given what you read, what questions and concerns do you have for the Marketing Director of Consumer Products? 2. Which of the proposed approaches would you support? Which ones would you not support?3. As a result of this YOU DECIDE exercise, what did you personally learn about communication planning and product sales? Submit your assignment to the Drop Box located on the silver tab at the top of this page. For instructions on how to use the Drop Box, please click here. You Decide Assignment – Grading Rubric Breakout Rating Basis Points Possible Points Awarded Superior Content and Subject: Easily identifiable, clear. Meets or exceeds page or word length requirement. Structure: Apparent, understandable, and applicable. Exellent flow and well-structured.Examples/Sources: Examples were used. Integration of external sources occurred. Analysis: Interesting and novel. Provides different perspectives; demonstrates critical thinking and critical analysis at a high level. Mechanics: Excellent APA format. Virtually devoid of errors in grammar, syntax, punctuation, and spelling. 47-50Achieving Content and Subject: Overall concrete, but may be slightly unclear. Meets or exceeds page or word length requirement. Structure: Generally clear and appropriate.Examples/Sources: Examples were used to support most points.Analysis: Evidence relates to the content. Evidence may lack some clarity. Critical analysis and critical thinking is apparent.Mechanics: APA format above average. Good sentence structure (syntax), grammar, punctuation, and spelling, with minor errors. 43-46Average Content and Subject: Fairly easy to read and understand, but the paper meanders from the topic or lacks cohesion/content. Meets page or word length requirement.Structure: Overall good, with minor shortfalls. Examples/Sources: Examples used to support most points. Arguments sometimes lack supporting evidence and some critical analysis. Limited external source use to support paper.Analysis: Cited references appear intermittently, with some critical thinking, but with minimal or no analysis or further discussion by the adult learner.Mechanics: APA format may contain intermittent problems. Sentence structure may have some errors relative to syntax, grammar, punctuation, and spelling. 40-42Below Average Content and Subject: Often unstructured and vague. Content not totally applicable to the paper’s requirements.Structure: Mostly unclear and difficult to visualize. Examples/Sources: Very few examples used to support points. Minimal, if any, citations.Analysis: External references not used or very limited with no analysis or further discussion by the adult learner that demonstrates their critical thinking/analysis.Mechanics: APA format not followed. Numerous mistakes in sentences, paragraph formatting, spelling, and grammar that subtract from the content of the paper. The writing errors suggest minimal likelihood that this paper was proofread for errors prior to submission. Writing is not at a graduate level. <40APA Grading Missing Title PageIncorrect MarginsIncorrect Header/FooterMissing AbstractMissing References PageIncorrectly Formatted ReferencesSpelling and Grammar -5 points-1 point-1 point-5 points-5 points-1 point-1 point for each occurrence

 

Connect with a professional writer in 5 simple steps

Please provide as many details about your writing struggle as possible

Academic level of your paper

Type of Paper

When is it due?

How many pages is this assigment?

“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”

The post Week 6: Communicating Value via Promotion! – You Decide Help Print This Page Defining a Communication Plan Instructions: appeared first on Graduate Paper Help.

Looking for a Similar Assignment? Let us take care of your classwork while you enjoy your free time! All papers are written from scratch and are 100% Original.