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As you know, year to date, Graves Consumer Products' sales have appreciated, with a 150% increase in overall business profits across all consumer...
As you know, year to date, Graves Consumer Products' sales have appreciated, with a 150% increase in overall business profits across all consumer products. We are most proud of this achievement, but recognize this is only the beginning. Therefore, we propose the following marketing communications plan. At the same time, we seek advice as some ideas require a considerable investment in resources. For example:We wish to develop a comprehensive television and print advertising campaign. The print advertising will buy space in "Good Housekeeping" and secure the "Good Housekeeping" Seal of Approval. The estimated cost will be $25 million dollars, and this is expected to sell ONE MILLION additional units this year at a gross profit of $2.00 per unit. Although this is a sizable investment, via an aggressive pull strategy, it is expected to secure retail shelf space, while attracting 500,000 new users at a retention rate of 47%.The next idea is to offer co-operative advertising with a 2X payout if product is displayed on an end cap display. The estimated cost will be $1M, and we expect to sell TWO MILLION additional units this year at a gross profit of $2.00 per unit. Though this is a sizable investment, it will pay for itself in guaranteed sales. Co-op advertising dollars are based on wholesale product purchases. Again, it is expected to secure retail shelf space via this aggressive pull promotion strategy, while attracting 500,000 new users at a retention rate of 47%.We want to create an on-package instant coupon to promote immediate purchase for the comparison shopper at the point of sale. We will limit the on-packs to every four bottles, thus managing the cost and seeing if there is an impact to this promotion. We will trial and track this promotion in our top ten geographies (MSA’s). The estimated cost will be $3M, and it is expected to attract ONE MILLION additional units this year at a gross profit of $2.00 per unit. We also want to develop a trial size to be used as a co-promotion with new carpet installation of Dupont Premium Carpets. We will seek the implied endorsement of Dupont to position the product as a premium product and the recommended “cleaner of choice.” The estimated cost will be $2 million dollars, and it is expected to attract 200,000 additional units this year at a gross profit of $2.00 per unit. Finally, we want to develop an aggressive public relations campaign that capitalizes on eco-friendly, safe products, while touting our "Good Housekeeping" Seal of Approval. A $200,000 investment will fund such a campaign.We recommend an integrated marketing communications (IMC) campaign that will incorporate all of these elements, and we seek your approval moving forward.”
