Friday, December 4, 2015

Promotion

When promoting this product, the objective-and-task method will be used. The book states that "The most logical budget-setting method is the objective-and-task method, whereby the company sets its promotion budget based on what it wants to accomplish with promotion. This budgeting method entails (1) defining specific promotion objectives, (2) determining the tasks needed to achieve these objectives, and (3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget." (Armstrong, Gary, Philip Kotler. Marketing: An Introduction, 10th Edition. Pearson Learning Solutions, 01/2010. VitalSource Bookshelf Online. Chapter 12)  


Ideally I would like to use celebrities and movie endorsements to use my product. This will ensure that the product is seen as premium if it is used by the right celebrity in the right movie. When seen in a major movie, the product will be further popularized and be bought solely of off curiosity for the product and novelty as well. People will want to have it just because a certain actor used it and it was in a movie. It would most likely cost millions to get this product in a movie to be used by an A-list celebrity in a feature film.  

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