Action Programs and Budget
Each strategy identified requires certain tasks to be completed. Moreover, each task must be designated to certain members of the staff. Finally, the cost of each task must be stated and the total cost must be determined in order to come up with a marketing budget for Far Horizon
Prepare the wordings for a brochure that highlights the feature, benefits, and advantages of the Far Horizon Convention Center.
A member of Far Horizon’s marketing staff should prepare the wordings for the brochure and work together with the designer to ensure that the brochure contains all pertinent information about Far Horizon. Layout and design the brochure A graphic designer must work on this task. He must work together with a member of the marketing stuff t ensure that the theme of the design coincides with that of Far Horizon’s goals and objectives.
Distribute brochures to business organizations in the community and in the state. A member of the marketing staff must get in touch with the organizations so that they can be informed of the existence of Far Horizon. He can send the brochure as well to introduce Far Horizon to the said organizations and their members.
The estimated cost for this strategy is $1200. This includes the layout, design, and printing of the brochures. Distribution costs are likewise included in the said figure
Far Horizon is a newly built convention center that aims to serve as a complete venue for special events, gatherings, and functions of both individual and organizational clients. This marketing plan aims to provide Far Horizon with a guide as to what strategies it must carry out in order to accomplish its goals and objectives.
In this marketing plan, an overview of the company and its products and services are discussed. Also, this marketing plan highlights the marketing goals and objectives of the firm. Moreover, the strategies of the firm in terms of the 4 segments of the marketing mix are discussed. A timeline, budget, and specific tasks and designation of such tasks are also discussed. Finally, the measures by which the effectiveness of such marketing plan are discussed as well.
Come up with the basic rates and rental fees for all facilities of the convention center A member of the marketing staff must work together with a sales and finance staff member to ensure that the rates will coincide with Far Horizon’s cost-plus pricing strategy.
This task is allotted 3-4 weeks.
Develop discounts and promos for early birds and early reservations This task requires coordination between the sales and marketing staff. This task is allotted 4-5 weeks after the rates are finalized. Promote the customized pricing scheme through promotional flyers. The marketing staff must come up with flyers that discuss how such pricing scheme is advantageous to potential clients. Such information should also be included in other promotional materials such as the brochure.
This task is allotted 6-8 weeks once the rates and discounts are finalized. The estimated cost for this strategy is $400. All the information to be gathered by staff members. Their salaries are taken to be part of compensation expenses of the company. The cost for the flyers are inculcated in the cost of the promotional materials which are under another strategy segment.