Promotional Marketing Strategy

Promotional Marketing Strategy

Paper 4: Promotional Marketing

For this fourth assignment, continue to build off your last three papers. Please provide at least a 500-word Marketing Plan for your promotional strategy.

Based on your first three papers, determine how you will reach your customers as a business so they buy your product. As it is a requirement that you create a commercial for your product, you must include a script and a description of the production of the commercial. Include scenery, actor description, product placement, and context of why you made these selections.

Since the promotional strategy may include some pricing tactics, placement tactics, and even product differentiation (customization), you should ensure that you are building off the other three papers to align with the papers for your product.

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Promotional Marketing Strategy

Other promotional tactics should be clearly outlined, such as sales pitches, fliers, billboards, or any other infomercial selling the product. Remember to explain why you are marketing the product this way, who you expect to see the advertisement, and why the customer would be convinced to buy your product. The product’s practicality and the marketing campaign’s practicality will weigh heavily on the scoring of your project, meaning that if the product is so difficult to produce, it might be considered a not viable investment.

Finally, create an ROI analysis (Return on Investment Analysis) of your promotional plan, showing how many sales will be generated from the commercial and the marketing tactics. For example, a company called GoDaddy spent its entire marketing budget on one 30-second commercial at the Superbowl but returned $100 million in sales during the next two years. Will your plan pay off like their plan did?

Promotional marketing strategy involves the planning and execution of marketing activities aimed at increasing the awareness, desire, and purchase of a product. It includes various tactics like advertising, public relations, sales promotions, pricing strategies, and distribution channels. A well-defined promotional marketing strategy aligns with the product’s objectives, target audience, and business goals to maximize sales and brand recognition.