Foundations of Marketing 7th Edition by William Pride,Ferrell

Exercise 20

A vital component of a successful marketing strategy is the company's plan for communication to its stakeholders. One segment of the communication plan is included in the marketing mix as the promotional element. A clear understanding of the role that promotion plays, as well as the various methods of promotion, is important in developing the promotional plan. The following questions should assist you in relating the information in this chapter to several decisions in your marketing plan.
What role should word-of-mouth communications, buzz marketing, or product placement play in your promotional plan?
The information obtained from these questions should assist you in developing various aspects of your marketing plan found in the "Interactive Marketing Plan" exercise at www.cengagebrain.com.