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This is a part of a group paper. Which is a marketing plan for a new salad bar at Arby’s. I need to create a budget for the marketing plan.
Promotional strategy: The target audience we identified in our other paper was corporate employees in a hurry, those individuals wanting to eat healthier i.e. stay at home moms, people with new years resolutions, and one other (cant remember off the top of my head). I plan to use statistics and information already published on the web to collect customer preferences so that should not affect the budget. For advertising purposes, I was going to suggest coupons mailed to the general public, billboards located near downtown areas where clusters of businesses are located, morning radio advertisements to target parents driving children to school, and commercials on childrens and food networks. I also planned on trying a money back guarantee for an introductory period to attract new customers. I also thought about implementing a customer loyalty program to target the corporate employees out for lunch. I don’t know the exact details Im going to use yet but maybe every 10th salad bar would be free? Something along those lines anyway. Those last 2 fall into the second bullet (Sales promotion), which I also have, but it could affect the budget having to allot for those costs so I wanted to let you know. Hopefully this is what you were looking for. If you need any other information, please let me know.
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