This week you will finish your short marketing plan that you have been working towards in the last few weeks by addressing your promotion, advertising, and budget. Address the Marketing sections below in a minimum of a 2-page Word document using APA format and citation style (include a title and reference page). Promotion Section: Describe how you will promote your product based on your target market and place (distribution) that you previously determined. How will your customers know what you are offering? Why will they choose you over your competitors? What are your core competencies? How will you build relationships with your customers? Advertising Section: If you choose to advertise, how much will you spend on advertising? Do a little research and determine the rates for what you want to use as your advertising media (for example, newspaper ads, TV ads, brochures, etc.) Will you be doing any advertising that does not cost money? For example, will you join the local Rotary or do volunteer work? Will you talk about your business at your son’s Little League games? Will you drive a car with your business name on it? There are many ideas that are no or low cost. Which ones might you use? Budget Section: Please list in table form how much you plan to spend on marketing over the next 3 months. Be specific about what you will buy, and how much each form of advertising will cost over those 3 months. Describe how you will measure the success of each marketing effort. Be specific. Using a Word document, insert your revised marketing concepts from last unit after reading your instructor’s feedback. Then add this week’s Assignment concerning promotion, advertising, and budget. Submit the completed Assignment in APA format and citation style (plus a title and references page) to the Unit 8 Assignment Dropbox before the end of the unit.
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