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Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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Topic:

Pitch Project – Colorful Living Initiative

Essay Instructions:

You are the Real Simple Magazine team • RSM needs to generate more revenue as part of Meredith Corporation* • You are pitching Benjamin Moore Paint to win the account • BMP needs an integrated marketing partner

Help BMP in their branding • Think of the greatest opportunities and threats (remember your SWOT’s) and build a campaign around them/it • Convince BMP that you will help: • generate demand • drive consumer affinity • increase customer lifetime value

Financials – Connect Strategy to Cost Must monetize ideas •Expectations on sales, costs, scale •Investigate and estimate •Examples • Create an APP – how much will it cost? • Run an event – where, how big, how long, how much? • Ads – reach, frequency, cost

Essay Sample Content Preview:



Pitch Project – Colorful Living Initiative

Your Name

Subject and Section

Professor’s Name

Date

Campaign Overview

The "Color Your Life" campaign by Real Simple Magazine (RSM) for Benjamin Moore Paint (BMP) is designed to engage consumers through a blend of digital innovation and interactive experiences. The campaign will be centered around a custom-designed app, a flagship event, and targeted advertising, each element aiming to create a buzz around BMP’s products and ultimately drive sales.

1 "Color Your Life" App Development

1 Objective: To develop an interactive app that allows users to virtually apply BMP paints to their home spaces, offering a realistic view of the final result.

2 Cost Estimation: Based on similar app development projects, like the IKEA Place app, we estimate the development cost to be around $250,000 to $350,000. This cost includes design, development, testing, and initial marketing.

3 Sales Projection: The app is expected to increase BMP’s sales by facilitating easier color selection and reducing purchase hesitation. We project a 10-15% increase in sales through direct app referrals within the first year.

2 Flagship Event: BMP Home Makeover Experience

4 Objective: A live event showcasing BMP’s range in an experiential setting, allowing attendees to participate in workshops and see the paint in action.

5 Location and Scale: Targeting a major city like New York, the event will span over a weekend and is expected to attract around 5,000 attendees.

6 Cost Estimation: Based on similar events in the industry, like the annual Home Depot DIY workshops, the estimated cost is around $100,000, including venue hire, setup, staffing, and marketing.


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