This week’s discussion is worth 56 points.
This Week’s Discussion Post
For this week’s discussion, please respond to the following:
- Complete the Marketing Vehicles Table, identifying the marketing vehicles you will use to reach your customers.
- Be sure to include the cost of each marketing vehicle.
- Add any additional notes under the table.
- Delete the italicized examples.
| Marketing Vehicle | Frequency | Cost/Month |
|---|---|---|
| Example 1 | 2–3 times per week | $600 per month |
| Example 2 TV Stations: Local Station, WTC | 1 time per week | $1,000 per month |
| Example 3 Free Samples | 2 events | $500 per month |
- Copy and paste the Marketing Vehicles Table into the discussion area.
- Complete the Setup worksheet in the Business Plan Financials Excel Template according to the instructions in the guidelines.
- Input the marketing vehicles’ costs into the appropriate areas of the Marketing Budget worksheet in the Business Plan Financials Excel Template.
- Attach the entire Business Plan Financials Excel Template to the discussion thread before clicking Submit.
Post at least one substantive comment to another student’s post.
Notes
- Textbook Chapter 10, “Marketing Plan & Sales Strategy,” pages 163–194, provides additional detail about this topic.
- You will use the:
- Marketing vehicles information from this post in your Week 5 assignment, Marketing Plan and Budget.
- Information from the Setup and Marketing Budget worksheets in Section 2 of your Week 5 assignment.
- If you are new to Excel, you may want to view these LinkedIn Learning courses on working with Excel. These courses focus on performing data entry in Excel.
- You may also find these LinkedIn Learning courses on how to interpret a business’s financials useful:
- You may also find Stephanie Morrow’s article on how to set up a marketing budget, Cost of Marketing: What Is the Average Budget?, helpful to complete this discussion and your Week 5 assignment.
Requirements: as long as it takes
Answer preview
The business will significantly focus on selling its products in cash, especially to individual customers. However, the business will sell 25% of its product on credit, especially to groups and organizations through clearly agreed payment terms. The payment period for goods sold on credit should not exceed two weeks (15 days), but in special instances, the business will sell at credit within 30 days at premium prices seeking to maintain a steady cash flow.
The business will provide benefits to its salaried/full-time employees at an average cost of $3500 per year for each employee. The most significant benefits include medical insurance, paid time off, free food, and fitness parks (Miner, 2020, November 27). For the hourly/part-time employees, each employee’s average cost of benefits per year is estimated at $1000. The most significant benefits include medical insurance, subsidized foods, and fitness perks. The employee benefits are estimated to increase at an average cost of 6% per year.
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