Discussion Thread: Promotional Mix, Budgeting for IMC, and Market Segment
This is a graded discussion: 100 points are possible
due Jan 26
This module we will review concepts related to the promotional mix, budgeting for IMC and market segmentation. Each prompt for this module will explore various aspects of these concepts and help you identify, define, discuss and describe the importance of these concepts as they relate to IMC campaign development. This module will also help you as you begin planning for your research assignment and research project.
Question 1 – Ch. 1. Belch and Belch provide definitions for each element within the promotional mix (advertising, direct marketing, digital/internet marketing, sales promotion, publicity/public relations, personal selling). Please paraphrase and cite each definition. Then explain, compare, and contrast each element with each other. Where do the elements overlap? How do they differ? If it’s easier, after you paraphrase each element, feel free to make your own chart to explain where these elements overlap, and how they differ. If you make a chart, please make sure you explain how it works so it is easy to follow.
Question 2 – Ch. 1. Let’s say, hypothetically, a local car dealer has reached out to you and asked “What should I expect to spend on marketing this next quarter? I know paid media includes television, radio, magazines, newspapers, outdoor, direct mail, in-store media, online banner ads, videos, paid search, and social media ads. How much does each tactic cost, and how much should I expect to spend if I implement each option?”. Break down the numbers and give the car dealer a good estimate. Be sure to include a brief descriiption for each implemented tactic (i.e. Outdoor advertisement- any advertisement people see outside of their home- example: 1 Large Billboard Bulletin costs approximately $2000 1 month in Louisville, Ky). Please make sure the information is organized in a way that is easy to read.
(ps- I know the numbers here will vary greatly. I am not expecting you to be a bean counter. No. Instead, the purpose of this question is designed to encourage you to explore the world of paid media, and to identify how much each tactic might cost. You will probably need to contact various distributors for these estimates. It’s good practice to know how much things cost in your local area. This is a step in that direction).
Question 3 – Ch. 2. Figure 2-4 provides some bases for Market Segmentation, including segmentation variables and typical breakdown examples. Use this figure as a guide to develop your own market segmentation analysis of your hometown. It might prove useful if you place this information in a chart. Once you have answered questions related to each segmentation variable, please select a digital ad and use the research you collected for this question to identify who the ad is supposedly targeting. Use information from the selected ad and your research to justify your answer.
TEXTBOOK: Advertising and Promotion (Looseleaf) 12TH 21
Author: Belch, George
Edition/Copyright: 12TH 21
Publisher: McGraw-Hill Publishing Company