Week 4 Discussion – Marketing Strategy
1 Unread reply1 Reply
Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
For this week’s discussion, you will complete the marketing vehicles table and the company information and marketing expenses worksheet in the Company Financials Excel Template Download Company Financials Excel Template. You will include the table in the discussion window and attach the Excel.
Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
How can you best promote what you are selling to your target market? Identify the marketing vehicles you will use to reach your customers and record your answers in the Marketing Vehicles Table.
Be sure to include the cost of each marketing vehicle.
Copy the table and paste the content into the discussion window.
Marketing Vehicles Table
Marketing Vehicle
Frequency
Cost/Month
Example 1
Social Media: Facebook and Instagram
2–3 times per week
$600 per month
Example 2
TV Stations: Local Station, WTC
1 time per week
$1,000 per month
Example 3
Free Samples
2 events
$500 per month
Website
$2000(one time cost)
2. Complete the Company Financials Excel Template
Download the Company Financials Excel Template below.
Company Financials Excel Template Download Company Financials Excel Template.
In the Company Financials Excel Template select the company information tab/worksheet and complete the information.
See the instructions tab in the Company Financials Excel Template for specific guidelines on how to complete the Excel document.
In the Company Financials Excel Template select the Marketing Expense tab/worksheet and complete the information.
Enter the marketing costs from the marketing vehicle table into the appropriate areas of the Marketing Budget worksheet.
Only the costs from the table should be reflected in the marketing budget worksheet in the Excel document. The information in the table and marketing budget worksheet must align.
Attach the entire Company Financials Excel Template to the discussion thread before selecting Submit.
Click on Insert/Document in the discussion menu to attach your document.
Notes
Textbook Chapter 10, “Marketing Plan & Sales Strategy,” pages 163–194, provides additional detail about this topic.
You will use the:
Marketing vehicles information from this post in your Week 5 assignment, Marketing Plan.
You may also find Stephanie Morrow’s article on how to set up a marketing budget, Cost of Marketing: What Is the Average Budget?Links to an external site., helpful to complete this discussion and your Week 5 assignment.
