There are big changes happening at Garrett's Insurance. As Associate Director of Marketing Finance for the company, you have been tasked with helping to build out a new media program focused on "young singles" between the ages of 26 and 35. They plan to launch this program in July of the fiscal year. They have a budget of $223,000. Simultaneously, the company is downsizing, and you have been asked to reduce marketing costs by 12%. As an additional request, your boss has asked you to come up with a budget that eliminates television advertising. However, after a previous high-level meeting with stakeholders, you know your boss's boss is a big fan of television advertising, just in case, you will build a second budget that includes it.

Here are my proposed budgets:

Standard Budget 1 = $196,300 Justification Budget 2 = $196,300 with TV TV $152,000 Broadcast & Cable 16 weeks $ 62,500.00 Terrestial Radio $87,000 Radio, web, and outdoor 16 weeks S 35,000.00 advertisements will have the $109,000 highest rate of return. These media 8,900.00 Outdoor- Billboards/Benches channels can shed more detail on S 45,500.00 the companies products. S 34,800.00 Local PreRoll- $32,000 Banners-Mobile 16 weeks 21,100.00 S 11,500.00 Pandora $25,000 16 weeks S 7,700.00 S 4,600.00 Facebook $5,000 Promoted Posts 24 weeks S 5,000.00 S 4,000.00 Twitter Promoted $5,000 Posts 24 weeks 5,000.00 4,000.00 SMS/Text Messaging $5,000 1000 Messages S 5,000.00 S 4,000.00 Google Adwords $25,000 26 weeks S 25,000.00 S 25,000.00 Email Marketing $45,000 Email promotions will be pushed because they offer the highest rate S 35,000.00 of return. 25,000.00 Competitive Research $12,000 Similar funding will keep marketing team up to date with recent trends S 12,000.00 and strategies used. S 12,000.00 Total $196,300 $196,300