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Promotional Plan Paper

1340 Words6 Pages

After doing a budget allocation and timeline for my one-year promotional plan on my product, the third thing I would like to mention in my promotional plan is that what are some of the reasons why I have allocated my budget to a specific promotion mix more than the other element. In my promotional plan table, the categories I highly spend more on to promote my product was TV, Facebook, YouTube, and blogs. The reason, I decided to spend more of my budget on TV and YouTube is because TV and YouTube have the capability to reach many people at once even though TV and YouTube advertising are the most expensive way to promote (Solomon, et al., 420). Looking at my budget for each month, I think it might be best to spend more on TV promotion about …show more content…

In order for my company to communicate more effectively with different target audiences I am more likely to use sales promotion because sales promotion can highlight short term price reduction or rebate where we inspire people to choose a brand at least during the deal period. My sales promotion is most likely to use coupons, price deals, rebates and refunds, and special/bonus packs (Solomon et al., 430). The biggest promotion is where we will be able to have new consumers of all ages to come in for a little exhibition or booth where they will be able to try different style of Nike …show more content…

After I have chosen advertising media, I created a media schedule which will help my company to see which exact media to use and when to use it. For my company, the best time I believe to reach my target audience in the months just before summer start because many people tend to have a lot of free time to take sports during the summer vacation in that I will able to get a lot of athletic people to buy Nike sport shoes in which they can feel comfortable playing their sports. Also, the most effective media for my company will be TV because during the summer many people have enough time to watch sports such as soccer in which I think it will be best to give a 30-second TV ad about the Nike shoes. Furthermore, promoting my product on TV for 30-second I assumed my product will reach about 130 million people who I think will be touched by message during the summer (kruschewsky). Moreover, I assume that the frequency of my promotion is going to be about average of 6 that each person will get touched by my company message even though I know this average frequency number is not that high for my company to be successful. However, for each company, high levels of frequency are very important for products because they play a big role in a company’s success (Solomon et al.,

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