Assignment 3: Promotional and Advertising Strategies
Due Week 9 and worth 240 points
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Select one (1) of the following categories of products to research: sports apparel, automobiles, home furnishings, or televisions. Use the Internet to research at least two (2) companies within the selected product category. Take note of the leading companies in this product group, as well as the types of marketing, pricing, and consumer-oriented promotional strategies that these leading companies within the product group use.
Write a six to eight (6-8) page paper in which you:
- Compare and contrast the promotional strategies used by two (2) different companies for a similar product within the category that you selected.
- Recommend two (2) ways in which a company within the selected product group could use marketing information to differentiate itself in the marketplace to gain an advantage over its competitors. Provide a rationale to support your recommendations.
- Propose two (2) uses for consumer-oriented promotions that could assist a company in both the short and long term for the product group that you selected. Provide a rationale for your response.
- Analyze the strategic manner in which the leading company in this product group has made its pricing decisions by using one or more of the four (4) pricing objectives. Suggest two (2) actions that other companies within the same product group may take in order to differentiate themselves and gain a competitive advantage. Provide a rationale for your response.
- Determine the most effective advertising medium for a company in the selected product category. Support your response with two (2) examples of the effectiveness of the chosen medium.
- Use at least five (5) quality
Venture Budgeting and Forecasting Paper
My venture is a online Auction website
Write a 700- to 900-word paper in APA format in which you do the following:
- Illustrate how your venture would perform by estimating the revenue and expense to calculate operating profit or loss. Include estimates of your venture’s main sources of revenue and the expenses expected in the main cost categories such as the cost of goods, sales and marketing, labor, rent, maintenance, and any other significant expenses.
- Illustrate your venture’s startup costs by estimating a preopening budget–also termed development budget–that includes startup costs such as building and construction, Web site development, preopening marketing, equipment, merchandise, preopening operations, research and development, working capital, and any other significant preopening expenses. An example of a preopening budget may be found in the materials listed on the course page for the University of Phoenix student Web site for Week Two named Kudler Opening Budget.
- Develop financial planning goals by illustrating how your venture would be initially funded by using cash on hand, debt, venture capital, or a combination of these. Use a mortgage calculator found on the Internet and calculate your loan payments. Include these expenses in your Operating Budget. Use the information below to help in your calculations:
|Building and Construction Estimation*|
|Remodeling Fees||$200 per Square Foot|
|New Building Construction Fees||$450 per Square Foot|
|*Multiply square footage of small business by fee for estimation.|
|10 Year bank Note (Debt)||7.5% Interest|
|5 Year Venture Capital Loan||15% Interest|
|Examples of Profit Split for Venture Capital Partnerships*|
|Venture Capital Investment 1||$300,000|
|Cost to Develop Business 1||$1,000,000|
|Venture Capital Profits 1||30% of Business Profits|
|Venture Capital Investment 2||$500,000|
|Cost to Develop Business 2||$2,000,000|
|Venture Capital Profits 2||25% of Business Profits|
|*Profit split is commensurate with the ratio of investment.|
your assignment as a Microsoft® Word attachment. Please remember to adhere to APA standards for formatting your paper.
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