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Explain the budgeting strategy you plan to use for the retailer’s IMC plan

Explain the budgeting strategy you plan to use for the retailer’s IMC plan. Integrated Marketing Communications (IMC) Plan you will submit your promotional plan. You have been hard at work developing the University Boutique’s new image through publicity and special events (fashion show). Now it is time for you to complete the retailer’s entire integrated marketing communications (IMC) plan for the next three months (July, August, and September). This IMC plan must reflect the incorporation of feedback gained throughout the course. This last component of the final project is divided into six sections: (1) Introduction, (2) Integrated Marketing Communications (IMC) Objectives, (3) Media and Promotional Plan, (4) Media Selection Rationale and Media Schedule, (5) Conclusion, and (6) Appendix. The answers provided in each section should be at least 10 to 12 sentences in length and written in paragraph form using the headings provided.

(1) Introduction

The introduction should include an executive summary that provides a brief overview of your promotional strategy for the University Boutique. Also, discuss the theme of your IMC plan and the idea that connects all aspects of your promotion mix (what are the main benefits of the retailer and their merchandise that you plan to highlight?).

The following topics should be discussed in this section:

  •  University Boutique’s Target Market: Explain what type of consumer (e.g., age, lifestyle, fashion taste, occupation, income) you believe the retailer should target
  •  University Boutique’s Budgeting Strategy: Explain the budgeting strategy you plan to use for the retailer’s IMC plan
    (2) IntegratedMarketingCommunicationsObjectives
    What do you hope to accomplish through the IMC plan for the University Boutique?
    Objectives should be detailed and precise. You must provide at least four IMC objectives using complete sentences. Example objectives include:
  •   Generating awareness
  •   Creating (more) favorable attitudes
  •   Creating a brand (company, organization, or service) image
  •   Developing new customers
  •   Increasing merchandise sales
    (3) Media Plan/Promotional Plan
    Include written justification for each promotional activity incorporated into the IMC plan. Explain why the chosen promotional activities would be effective and the potential market you hope to reach with each ad/sales promotion. You must address the following:
  •   Print advertisements
  •   Special event—fashion show
  •   In-store sales and promotions
  •   Fashion show press release
  •   Radio commercial
    (4) MediaSchedule
    Plan a media schedule for three months (July, August, and September). Each month should include a detailed account of when each promotion would occur, running time of advertisements, and any other important information concerning your promotion schedule. Using each promotional activity that you have already developed (e.g., two print ads, radio commercial, fashion show, news release, and in-store promotions), plan a three-month media schedule of when each activity will occur.
    Requirements for media schedule:
  •   Each month must have at least three promotional activities (this includes the in-store promotion).
  •   Each month must include at least one in-store promotion (e.g., sale or special event).
    Note: You may repeat the same activities throughout each month.
    (5) Conclusion
    What are the anticipated outcomes for this IMC plan? What do you expect to happen for the University Boutique as a result of the IMC plan? (6) Appendix
    This is the final section of your IMC plan, which will include all the promotional activities you have completed thus far as the retailer’s advertising and promotion manager. The following items should be included in the appendix: University Boutique’s radio commercial script, two print advertisements, and fashion show news release).
    Note: All the items that are required for inclusion in the appendix have already been created by you. These items were a part of the final project components from Modules Four and Five. Therefore, you should make any necessary changes and resubmit what you have already developed.

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Explain the budgeting strategy you plan to use for the retailer’s IMC plan

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