Question
Please create a marketing budget. Use a total of $30,000,000.00 and break it down to be similar to the below. Use this as an EXAMPLE
Please create a marketing budget. Use a total of $30,000,000.00 and break it down to be similar to the below.
Use this as an EXAMPLE ONLY. DO NOT COPY:
Coke Zero Sugar Energy will launch in January 2019. We will use established distribution channels from the bottling companies to deliver Coke Zero Sugar Energy Drink to large retailers, vending machine, gas stations and specialty stores. Advertisements on television and social media will begin as soon as the product is launched. We will focus the majority of our television ads to the first quarter. We will advertise in January, February, and March on the major networks; ABC, CBS, NBC, and Fox. We will also run a 30 second commercial during the Super Bowl. In February we will direct mail a coupon for a free product. In the 2nd we will hand out samples in grocery stores to reach the remainder of customers that we were unable to reach through television ads and direct mail. In the 3rd Quarter we will review current sales and the effectiveness of our distribution channels. Collect feedback from retailer and specialty stores regarding customer satisfaction. Review the feedback from our online campaign efforts. Take recommendations and adjust market strategy accordingly.
Budget
Promotional Tool | Budget |
Advertising | $27,000,000 |
Sales Promotion | $5,500,000 |
Public Relations | $2,000,000 |
Direct and Digital Marketing | $13,000,000 |
Event Marketing | $2,500,000 |
Total: | $50,000,000 |
We will focus on the percentage-of-sales method when setting our budget. Coke Zero Sugar Energy drink has set a first-year retail sales goal of $2 billion. Coca-Cola is a well-known name with a strong customer base and brand recognition. Since this is a new product we will spend the majority of our $50 million budget on advertising and direct and digital marketing. The drink will launch at the
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