MAR 4333-Promotion Management

MAR 4333-Promotion Management – Fall 2016PROJECT OBJECTIVEThe objective of this project is to leverage what you have learned in this class to create your own integrated marketing communications program. You should begin with a clear identification of your target audience and product position, and then demonstrate how you will use the promotional vehicles we have discussed in class to disseminate this information to your consumers.Specifically, the project is designed so you will (1) achieve an understanding of the major elements comprising the marketing communications mix; (2) fully comprehend the meaning and relevance of integrated marketing communications; (3) appreciate the complexity of designing a complete IMC plan; (4) achieve a high proficiency in locating, understanding, and using information sources for marketing communications program design, execution, and measurement; and (5) enhance your ability to communicate logically and persuasively in spoken, written, and visual language. Most importantly, this project should demonstrate your understanding of your product’s competitive set, target market and product positioning.The purpose of this exercise if for you to learn, so don’t be shy about asking questions! I am here to help!OVERALL BUDGET AND TIMINGAn IMC plan is a blueprint of the complete marketing communications program for a brand. It is a formal document that evaluates the background of the brand and presents a set of guidelines and an action program for the advertising and promotions campaign. Your plan is expected to cover one calendar year (January 2017 to December 2017).Your set budget is $50million for this year.FOCAL PRODUCTThe product selected may be a new product you come up with, or an existing product. However, you may not select a product that is already on the market with a very large existing campaign.  For example, do not select Coke Zero, Bud Light, Tide, the iPad, etc. However, you may choose a heavily-marketed product and create your campaign around a new audience the firm does not currently target.  Essentially, the work presented should be entirely your own and not a report or summary of the product’s existing campaign.GUIDELINES FOR WRITTEN REPORT (150 Points)Your report should include the elements noted below:Situation Analysis (Category/Brand/Product Overview)(10 points)You should provide basic information about the product you have selected and the industry in which it competes. This includes information about the industry and company’ssize, growth, current trends and developments, and any key factors necessary for an understanding of the setting.You may also include a SWOT analysis of your company if it is helpful in articulating your product’s current internal and external situation.Competitive Landscape (15points)Identification of the important direct and indirect competitors for the product.  For each competitor, focus should be on product positioning and how your product is different.  In other words, what is your competitive advantage? It may be helpful to introduce perceptual maps to articulate your message.Segmentation, Targeting, and Positioning(30 points)How is your agency segmenting the market? What is your target market?  You should offer a full and detailed consumer profile.  This profile should include demographic elements and well as psychographic elements. What is the consumer insight?  In other words, how will this product fulfill a current need among your target users?You may choose to conduct primary research (surveys, interviews etc.) to gain a deeper understanding of your target audience and identify key insights about their needs and behaviors as they pertain to the product you have selected. Creative Strategy Statement (25 points)This will be submitted in the form of a creative brief, similar to the ones used in our class exercises.  The creative brief template will be uploaded on Canvas after it is covered in class.  Here, you should be discussing the overall message of your campaign based upon the target market and positioning you have identified.Integrated Marketing Communications Program (50 points)Here you will identify the major elements of your IMC campaign which will help you reach your target audience and communicate to them the key message from your creative brief. For each vehicle you choose you should note the following:Rational: Why have you selected this specific program element? How will it help you reach your overall communication goals and target audience?Objective: What is the objective of this element? (i.e. drive awareness, sell product directly, creative positive brand image, etc.)Budget allocation How much of your total budget will you allocate to this promotional element?Media Vehicles: What media outlets will you use to deliver your message? See “Media Plan/Costs Section” below for details.Timing: When will program element begin and end during your annual campaign? Will it be ongoing? Remember the length of time will impact the necessary budget.Execution: Describe specifically how you will implement this portion of the campaign and provide potential examples of creative executions as necessary. For example, it is not sufficient to say you will be spend $500K on print advertising. Instead, you should list the magazines in which you will advertise, during what months, and what a potential ad would look like.Success measurement: How will you measure the effectiveness of the campaign?You should consider all vehicles we have discussed in class as potential outlets for your campaign.  However, obviously not all forms of promotional tactics are appropriate for all brand/products. Therefore, it is up to you to decide which promotional elements are most appropriate for your product and will be most effective in reaching your target audience.You must include at least five different types of promotional vehicles in your campaign, and part of your grade will be determined by how well you are delivering a consistent and unified message to your target as well as how effectively and creatively you are employing the various promotional elements we have covered.Media Plan/Costs (15 points)I have given you a budget of $50 million You will need to provide estimated costs for your programs to ensure you are within this budget.  Because media costs vary so much, I do not expect you to be exact with your costs.  I am more interested in how you are allocating your overall budget across the different media vehicles and how you are creatively spreading your message and reaching your target effectively.However, your costs need to be reasonable. As a guideline, consider that one 30-second spot on prime-time television can cost about $500K, and a one-page ad in People magazine costs approximately $250K.  Again, you are expected only to use ballpark costs, which can be obtained, in your textbook or through your own online research.  I will also post a file on Canvas called “Media Cost Estimates” which you can use as a guide. You will not be penalized for your costs estimates as long as you have done some research and set forth your best effort to give a reasonable estimate. Presentation of Written Report(5 points)You are expected to proofread your work.  This means you should not only spellcheck your final document, but also review it for any typos and to ensure clarity of the content. PRESENTATION GUIDELINES (100 points)The final presentation, 20 minutes in length, should be treated as a client presentation.  You are the Agency and your basic mission is to convince your client (the instructor) to accept your campaign proposal and approve your budget.  How you attempt to do that is an important part of the process. While substance is crucial, style is important, too. You will not be granted extra time so your team should practice in advance to ensure that you can convey all your information in this time limit.You will lose points if you go over your allotted time. This portion of the project will be graded based upon the clarity and thoughtfulness of the content, as well as your presentation style.AGENCY TEAM SELF APPRAISAL (50 points)Upon completion of the campaign plan, agency team members will be asked to submit a performance evaluation of each team member, including one’s own self-appraisal.OVERALL EVALUATION OF PROJECTSThe report will be evaluated as a single unit, with each team member receiving the same grade for the written report.  However, students within the same group may receive different grades on the presentation portion depending upon how prepared each student is and how well the information is presented.DEADLINESSuccessful marketing communications planning is dependent upon the meeting of deadlines. As noted in the syllabus, late work will not be accepted.