Download Develop Statement of Promotion Problems and Objectives - Project | MKTG 363 and more Study Guides, Projects, Research Advertising and Sales Promotion in PDF only on Docsity! MINI-PROJECT 1 (MP1) OBJECTIVES Develop statement of promotion problem and objective. (30 points) a. State the nature of the problem that promotion activities will be used to solve. Stick with problems that can be quantified if at all possible. b. Describe the product/business and perform a SWOT analysis. (Give some background/history as well as any information that helps the reader to understand what led to the problem and what some opportunities are that could be capitalized on.) c. Estimate the resources available for solving the particular promotion problem you have identified. In most cases you are specifying dollar figures but, especially for non-businesses and non-profit organizations, you may also want to discuss non-monetary resources such as people and time that can be used to solve problems. You will have to estimate these figures and revise them as the semester goes on. It is okay to come up with a range of figures rather than specifying an exact amount. Keep in mind that this does NOT refer to the budget for running the entire organization and may not even be the entire promotion budget but is limited to the resources that could be used to solve the particular problem you are focusing on. Also, clients may be reluctant to talk about their budgets with you. That's why it is up to YOU as the consultant to figure out the type and amount of resources YOU think the client has available and could be used to solve the problem. The point is for you to make sure any plan you come up with is realistic, e.g., you don't want to come up with a million dollar plan when the client can only spend $1,000 on the problem. d. State the promotion objective being sure to separately specify the goal, benchmark, and time frame. These must be quantified! (See examples of some objectives.) e. Discuss a way that the success of the promotion could be evaluated. Make sure that the way you suggest the campaign be evaluated is consistent with your stated goal and objective. Keep in mind that if the problem is "attitudinal" then it is much more difficult to evaluate. Also, if the evaluation process costs money and/or substantial amounts of time then you should include it in the budget.
