Academic Master

Technology

 Advertising in an Online World

In this simulation, you continue in your role of Senior Vice President for Marketing at Enhanced Analytics, Inc., a provider of marketing and consulting services, with headquarters in Austin, Texas. In this role, you report directly to the CEO of the company and are responsible for decision-making and marketing strategy. You oversee a department with 25 employees at the company.

1. A Breakdown of the Various Advertising Options Available

Interdenominational Chapel in Greenville (ICG), South Carolina, has multiple options for advertising. Being the Senior Vice President for Marketing, Enhanced Analytics, Inc. Austin, Texas, I want to secure the interest of ICG, which is our new client. Through advertising activities, organizations make people aware of their products and services; however, it is vital to select the best advertising option. According to the American Marketing Association (AMA), the scope of marketing is extensive which also includes promotional activities which make people aware of company offerings (American Marketing Association, 2017). According to the information provided by ICG, they want to invest $12K in the first year on advertising. The best options in newspapers seem to be “The Post and Courier Greenville, 1 N. Main St., Greenville, SC 29601. (Post and Courier, 2021)”

Similarly, as proposed by ICG, it can advertise in religious radio channels which include “HIS Radio, 2420 Wade Hampton Blvd. Greenville, SC 29615” (HIS Radio, 2021). USPS offers stamps at the rate of $0.55; therefore it might be an option to send promotional material. Apart from the conventional advertising options, ICG might use online platforms like Facebook, Google, and YouTube. The company might use geographically targeted advertising campaigns on such online platforms. Moreover, ICG might also target people of specific age groups. In this way, online advertising might be more useful as compared to conventional media. It is recommended that ICG utilize the half of annual advertising budget on online platforms, including social media. The remaining amount might be equally divided amongst print and electronic media.

2. 3-Year Strategy

  Sr. No. Year Total Annual Budget Online Advertising Print Media Advertising Radio Advertising
1 Year 1 $12,000 $6,000 $3,000 $3,000
2 Year 2  $18,000 $9,000 $4,500 $4,500
3 Year 3 $30,000 $15,000 $7,500 $7,500
4 Year 4 $50,000 $25,000 $12,500 $12,500
5 Year 5 $50,000 $25,000 $12,500 $12,500

1) Year 1

The advertising budget for the first year is $12,000, which seems small given the early years of the start of operations of our client organization. My research has found that online advertising might be the best option in the first year, so the entity should allocate $6,000 for digital marketing. The reaming amount of $6,000 might be divided between print and electronic media.

2) Year 2

The advertising budget for the second year is $18,000, which seems diminutive given the early years of the start of operations. Online advertising might be the best option this year, so the entity should allocate $9,000 for social media marketing. The reaming amount of $9,000 might be divided between print and electronic media.

 3) Year 3

The advertising budget for the third year is $30,000, which seems ok given the early years of the company. Online advertising might be the best option this year, so the entity should allocate $15,000 for digital marketing. The reaming amount of $15,000 might be divided between print and electronic media.

4) Year 4

The advertising budget for the fourth year is $50,000, which seems ok given the early years of the company. Online advertising might be the best option this year, so the entity should allocate $25,000 for digital marketing. The reaming amount of $25,000 might be divided between print and electronic media.

 5) Year 5

The advertising budget for the fifth year is $50,000, which seems ok given the early years of the company. Online advertising might be the best option this year, so the entity should allocate $25,000 for digital marketing. The reaming amount of $25,000 might be divided between print and electronic media.

 3. Notes Section 

The modern advertising world is highly dynamic and the executives of our client organization need to strategically and tactically manage and monitor the situation constantly. They must be aware that social media marketing has gained enormous popularity. The executives who would not modernize their knowledge and skills in online advertising might suffer considerably. Similarly, for better evaluation of the result, they might use balanced scorecards in place of old measures (Kaplan & Norton, 1992). Equally important is the strategy revision if the situation warrants it.

References

American Marketing Association. (2017). what is marketing? -The definition of marketing. American Marketing Association. https://www.ama.org/the-definition-of-marketing-what-is-marketing/

HIS Radio. (2021, April 15). Contact Us- His Radio. www.hisradio.com. https://www.hisradio.com/contact/

Kaplan, R. S., & Norton, D. P. (1992, February). The balanced scorecard—measures that drive performance. Harvard Business Review. https://hbr.org/1992/01/the-balanced-scorecard-measures-that-drive-performance-2

Post and Courier. (2021, April 15). Greenville Area News. Post and Courier. https://www.postandcourier.com/greenville/?tpcc=gvilledisplay&gclid=Cj0KCQjwpdqDBhCSARIsAEUJ0hN6m4rNd2qKLWbo-icE-FBgRDogBNo0rA6e0qQA7764G9WLtyG_lNoaAnQBEALw_wcB

SEARCH

Top-right-side-AD-min
WHY US?

Calculate Your Order




Standard price

$310

SAVE ON YOUR FIRST ORDER!

$263.5

YOU MAY ALSO LIKE

Pop-up Message