Creating the promotional mix for your entrepreneurial venture.
Promotional Strategy
In Unit IV, you will complete the second step in the marketing plan by creating the promotional mix for your entrepreneurial venture.
As a reminder, keep the plan realistic and feasible. You have limited resources as an entrepreneur, including financial limitations. Create a promotional mix with these limitations in mind.
The Unit IV submission should include the following section:
- Promotional Strategy
This part of the project allows you the opportunity to showcase your creativity. The promotional mix you develop for this assignment should contain a variety of both traditional and digital promotional elements. Refer to the following list of commonly used promotional elements to select those that are most anticipated to reach your targets and maximize results.
Sales Promotions:
- Discounts
- Coupons
- Samples
- Free trials
- Rebates
- Premium items
- Giveaways
- Buy-one-get-one-free offers
- Sweepstakes
- Contests
- Reward and loyalty programs
Trade Promotions:
- Trade allowances
- Advertising allowances
- Displays
- Slotting fees
- Volume discounts
Event Marketing:
- Tradeshows
- Networking events
- User conferences
Public Relations:
- Philanthropy
- Social responsibility activities
- Press releases
Advertising:
- Television
- Radio
- Direct mail and catalogs
- Outdoor
- Display ads
- Remarketing ads
- Search ads
- Native ads
- Social network ads
- Content marketing
- Influence marketing
- Geolocation
- Company websites
- Microsites
- Company social media account
- Mobile sites
- E-mail advertising
- Text (SMS)
- Blogs
- Podcasts
- Social media shares
- User reviews
- Media sharing
- Thought sharing
Assignment Instructions
For each promotional element selected for the promotional mix, provide the following information using headings and subheadings:
- Description of the promotional element
- Rationale for its inclusion in the marketing mix
- Anticipated results
- Intended target
- Provide copy if relevant
- Provide visual representation of any creative advertisement. Illustrating the creative in words is acceptable, but graphics are preferred.
- Metrics that will be used to measure effectiveness
This part of the marketing plan should be no less than three double-spaced pages, and the response should be substantive and fully address the project requirements. There should be at least one element chosen from the above categories of sales promotions, trade promotions, event marketing, and public relations. Additionally, there should be at least four elements chosen from the advertising category and at least three of these should be digital elements. In total, the promotional mix should detail eight promotional elements. Please note: You may include as many promotional elements as you would like as long as the minimum number detailed is eight elements.
Please write objectively from the third person point of view. Avoid writing in the first person voice (e.g., I and me) and second person voice (e.g., you and your). In addition to serving as an internal road map, the marketing plan may be presented to investors or financial institutions, so writing in a professional and objective voice is important.
Academic work should always be supported with credible sources. You are expected to perform extensive secondary research as you complete the various elements of this plan. You should complete this project with the same due diligence you would use to reduce risk for your own entrepreneurial venture.
Please use APA formatting and style guidelines (i.e., indentations, spacing, font, citations, references, etc.).
Please use section headings and subheadings that align with the plan requirements. This will serve as an outline to ensure you complete all requirements, and it makes a professional presentation.
Finally, please review the grading rubric so you are aware of all the grading criteria.
Requirements: 3 pages
Answer preview to Creating the promotional mix for your entrepreneurial venture.
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