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Target market

lnaghten — 2024-04-26 14:23:26 UTC

His target market for their business would be large companies and sponsors. The reason that Baily and his team want to attract large or even small companies, is because they can help spread the word of their business as well as gain new customers and investors depending on how they approach the marketing. Another reason they will want to increase their sponsors is because it can generate more profits from races and create brand deals for Bailey in the future. This will help the business grow and prosper overall.

Promotional plan and method

lnaghten — 2024-04-26 14:39:07 UTC

When starting a promotional plan we need to make sure that we know what promotional method we are going for. I believe that Bailey should go for sponsorships, this is because having sponsorships provide more money for the business to use to make more sponsorships and gain investors later down the line. But it also spreads the word through the business we are going to work with. Next we have to set realistic promotional goals, this is important for the business because having these goals makes it much easier to get better. Having a goal can also help give a sense of purpose and something to work towards. As Bailey’s company is on the smaller side i believe that we should go with a goal of being on the podium in his next few competitions, this is because this will intrigue investors as if they see someone doing well they might feel interested in sponsoring Bailey in his racing journey. This will require a lot of training which will be costly. The most that his training should be will be in the ballpark of £1.5k - £4k, this is because of the cost to maintain his car and keep it fueled for training. We will need to measure him on a weekly basis to see if there is any improvement. The best way for us to record and tweak his training rescheme is that we record every time he races and make sure that we have had him exercise to keep in shape to drive. And finally we need to set a budget for his training and promotion of the business overall to make sure that we aren’t going overloading the advertising and his training, this is to ensure he is still having fun and enjoying what he is doing.I would say somewhere between £3.5k - £5k.

An assessment of the extent to which the proposed promotional plan meets both business and consumer needs.

lnaghten — 2024-04-26 14:48:46 UTC

When looking at the proposed promotional plan I believe that this meets the businesses requirements to a large extent. I believe this because the campaign is helping the business become more vocal across the UK which is rather important due to them looking for investors and sponsors. And having the ability to market himself and see him grow is what sponsors want to see in their investment, thus making Bailey much better than he already is but still letting him be a kid. I also believe that this meets the customers needs to a medium extent. This is because for this company to grow we are going to need to see Bailey grow, marketing doesn’t help in making bailey better but it attracts possible sponsors for bailey. However it still meets some requirements for the customers as it is informing of what Baily is going to be doing next and a bit about him, and everyone can get behind a kid trying to make his dreams real.

An overview of any ethical and legal requirements linked to your campaign.

lnaghten — 2024-04-26 15:18:29 UTC

When looking at this business at a legal standpoint there is nothing to really point out. They have legally resteried themselves with the government and have all of their documents needed to have Bailey as their driver. This makes marketing much easier as it allows us to market a real business with data to our disposal to determine what the best strategy for marketing Bialy James Racing LTD.
Looking at the business ethically there is nothing that says they have done something in the past to question ethics. With working with the promotional plan i would say that it is ethical as it doesn’t overstimulate Bailey but still get maximum efficiency with it.