For this week’s discussion, please respond to the following:
1. Identify the marketing vehicles you will use at your NAB Company. Describe each method of advertisement and explain why it is a good tool to reach your target market.
· Check out Chapter 10: Marketing Strategy to learn more.
· You will use this week’s information in Assignment 2 – Question 4.
To help you get started see the example
To address this week’s discussion, first list all the marketing vehicles (ways to promote your product) you will use to reach your customers, then briefly describe each, clarifying why the tool was chosen and why it is a good way to reach your target market. Number these or use subheadings for each.
- If you advertise, where
- If you do promotions, describe how
- If you send a newsletter, to what mailing list
- If you are doing trade shows, which one and how frequently
- If you are advertising on TV, which channels and how often.
· Check Chapter 10 for information on marketing strategy and pages 162 and 163 for a description of marketing vehicles (see attachment) you can use to promote your product.
Use this worksheet to outline your marketing schedule, listing each type of marketing vehicle, the frequency with which you use it, and what it costs you annually. This is the basis of your marketing budget and will be used in the Financials section of your business plan.
|VEHICLE SPECIFICS||FREQUENCY||COST PER YEAR|
|Social Media Specialists|
|Print (newspaper, etc.)|
|Television and Radio|
|Maintenance and Hosting|
|Fees and Setup|
|Public Relations Activities/Materials|
Often the best marketing vehicles are not the most obvious or the most expensive. A large ad in a specialty publication may prove far more effective and less expensive than a small one in a general newspaper. Building a presence on a social media site targeted to a specific audience can bring better results than being on the most popular social media sites.
You may want to consult the Standard Rate and Data Service to find names and advertising rates of specialty and general publications. To find information on trade shows, look online for trade organizations in your industry.