Assume that you are the vice president of marketing for a small brand. You are trying to increase market share in the Chicagoland area.

How would you plan for your brand to improve its current product strategy?

1. Budget: You have $50,000 to spend on promotions.
2. What are your recommendations on the Promotional Mix?
3. How will you allocate your money?
4. What is your rationale? Why did you select the various amounts of money to spend on each promotional element in your plan?

• Traditional advertising: paid non-personal promotion by an identified sponsor that is delivered through media channels like T.V, radio, magazines, billboards
• Personal selling: face to face presentation to a prospective buyer. It allows for an exchange of ideas and to clear up any misconceptions.
• Sales promotion: Marketing activities that are designed to get the consumer to act immediately. Options include coupons and samples, displays, shows and exhibitions, buy one get one (BOGO)
• Public relations: Programs that are designed to promote an image or gain acceptance of the company in the marketplace. Public relations can include publicity and special events.
• Social media: The use of social media such as Facebook, Twitter, Pinterest, Instagram, and various blogs to generate “buzz” about a product or company.
• E-commerce: Using the company’s website to gain orders and collect information.