Module 06 Course Project - Final Marketing Plan

Action Program, Financial Projections and Budget

Advanced Principles of Marketing

Jeff Rover

12/09/17

Action Program

Introduction

This section spells out the specific activities the company will take part in so as to ensure that their products are promoted. The action program states what will be done, when it will be done, who will do it and how much that activity will cost. In this case a trade show will be part of the company’s action program. A trade show will give the company a chance to achieve its exhibiting goals and to maximize the returns on investment. The company needs to identify an event that will reach the potential buyers who are also the target audience and they should for a majority of the audiences. This information can be obtained from the current customers by learning from them about the events they attend, and additional information can also be obtained from professional organizations and colleagues in the industry.

Objectives of the trade show

A trade show targeting potential customers generally aims at maximizing the returns on investment and achieving the exhibiting goals. Some of the exhibiting goals for this trade show are to secure publicity, generate leads, increase the number of product sales, and to take the image and awareness initiatives. It is all about making the public aware of the existence of the company and its products and if possible to get new customers being aware and preferring the company’s products.

Planning for the trade show

The selected show will be attended by the target prospects that will also from the majority of attendants. All the exhibits, displays and awareness will be done by selected company employees who have had vast experience in the company and are aware of the company’s products therefore can explain it to customers. The tradeshow marketing and sales initiatives that will be used in the show include brochures, banners, booth graphics, advertisements and sales representations. The selected employees will have to come up with the exhibit designs and graphics that attract people and instantly convey the brands message. This will start from the image portrayed by the exhibition stand starting from lighting, booth accessories, table covers to the booth flooring.

A trade show marketing plan is important to ensure that the show is effective at meeting its objectives. This may involve the preshow marketing where one has to aggressively sell prospects before they arrive, at show marketing which involve fully engaging prospects during the show and post show marketing which involves following up with prospects after the sales to generate additional sales. Participants should try and reserve a booth location in the exhibition hall and also confirm access to electrical outlets and other facilities that may be need for the display.

Cost of the tradeshow

It is important o calculate and come up with the costs of the entire exhibition process. Some of the activities that would be costly include travel arrangements for the staff, exhibition booth, materials, and other supplies. For an effective exhibition then the marketing collaterals such as the sales literature, product sheets, business cards and promotional materials must be budgeted for. Other facilities that will help promote sales such as the audio visual rental equipments, sound systems and mobile technology that also need to be rented. The budget should also contain promotion items, literature special displays and other marketing tools.

Financial Projections and Budgets

Sales Revenue Forecast

After a successful exhibition it is expected that the sales volume increases in the month by approximately a unit equal to the number of prospects who attended the show.

Expense forecast

The marketing cost that will be incurred during the exhibition will form part of the expenses that shall result from the plan. Promotions for the products should not go beyond the amount we can recover during the show basing on our intended audience. Cost for the materials and supplies should not exceed half the company’s profit in the last month.

Break Even Analysis

There is need of coming up with a strategy that will ensure that the promotions and marketing expenses come back to the company but not inform of profits. Such strategies include selling of some of the products alongside the promotions and ensuring that there is enough effort at attracting as many customers as possible before and immediately after the show.

References

Alkaraan, F. and Northcott, D. (2006). Strategic Capital Investment Decision-Making: A Role for Emergent Analysis Tools? A Study of Practice in Large UK Manufacturing Companies, British Accounting Review, vol. 38, pp. 149-173.

Dekker, H. (2003) ‘Value Chain Analysis in Interfirm Relationships’; A Field Study, Journal of Management Accounting Research, vol. 14, pp. 1-23

Kottler, P., & Keller, K. L. (2003). Marketing management. Analyse, Planung, Umsetzung und.