Question:

Scenario: You are the Marketing Manager for Anna's Boutique. The company wants to make the transition from their traditional retail operation into an effective and exclusive online commerce operation. On paper, this looks to be a logical, strategic decision to make, however, if it is not done correctly not only is Anna's Boutique's market share and prots at risk, but the whole organization's existence is at risk. In addition to managing risk and hitting needed sales goals, you will need to inform and persuade your current and future customers to make their purchases online by putting a significant focus on education and awareness. Your total yearly marketing budget will be up to $72,000. You have been asked to spend up to 75% of the $72,000 during the first 3 months of the fiscal year to help publicize the launch and to use the remaining 25% for maintenance marketing over the last 9 months. Finally, the Senior Team has asked you to incorporate the use of Google AdWords in the marketing budget. After a meeting with your supervisor to review the project, you come away with notes to help get you started: - Be aware of the big messaging challenge of moving the buying channel from traditional retail to online and work to mitigate this risk. - Remember, there are never enough dollars in a marketing budget, so priorities and limits become the norm as you seek to implement a risky strategy. - Keep in mind what time of the year (seasonf month) will you launch. - Be sure to make clear whether the marketing dollars were spent for the rst 3 months or the last 9 months of the year. There needs to be marketing dollars spent year-round. - Remember, when you are allocating marketing dollars, you are required to include Goo gle AdWords in the budget. Instructions 1. Watch the video provided in the assignment for an overview of the scenario. 0 Be sure to download the budget spreadsheet template found in the video or assignment. 2. Open a fresh Microsoft Word document and create a heading (e.g., Preparatory Questions) and record your answers to the questions below. These questions will help you prepare for building your budget for Anna's Boutique. 0 Develop 3 major goals for this launch. What Key Performance Indicators (KPIs) will you follow? Provide specics where possible