Marketing Final Project

As long as we are selling our product we feel that we

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Unformatted text preview: e an approximate time line and budget for each element of the marketing mix: As a large corporation in Proctor and Gamble, we have an abundance of resources, particularly fiscally, which allows us to be more liberal with our spending on promotion. We are confident that this product will be effective in our target market and will prove to be financially beneficial if the audience is well informed of the advantages associated with using Tide Triple Threat. For this reason, we have decided to dedicate 15% (variable number) of our sales revenue to the promotion of our product. In addition to our promotional budget, we would also like to allocate a certain percentage of our sales to R&D, in order to research emerging technologies that could potentially improve the effectiveness of our product, or manners in which we could reduce costs and gain an advantage on our competitors in that aspect, along with our superior quality. · Late April – Begin contract negotiations for advertisements for Tide Triple Threat with magazines primarily marketed toward mothers · Late April – Complete interview process for Ambassadors at college campuses for Tide Triple Threat; Inform them of their responsibilities for the summer and fall semesters · Mid May – Finalize contract negotiations with magazines; Ensure that advertisements are present in the next edition of selected magazines · May – Begin placing product in selective markets around the country · June – Ambassadors begin heavy promotion of the product around respective campuses as incoming summer freshmen arrive on campus · July – Begin trial pricing for product and heavy advertisement on and around college campuses via orientation programs sent to the student’s home, billboards, and school newspapers · August – Maintain trial pricing and increase promotions around campus as all incoming freshmen are present on campus · October – Cea...
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