MKT3063 AS1 E-PORTFOLIO
5. ACTION
5.1 ACTION PLAN - BUDGET, RESOURCES & SCHEDULING
An action plan (Figure 2.0) (Adapted from PR Smith, 2022) is a critical aspect of the SOSTAC framework. Understanding the allocation of resources is important to ensuring that the campaign is completed on time and within budget (Broadhurst, 2022).
Figure 2.0 - Page 1
Figure 2.0 - Page 2
Figure 2.0 - Page 5
Figure 2.0 - Page 1
5.2 MARKETING ASSET - VR FASHION SHOW INVITATION
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This marketing asset depicts an invitation to a virtual reality fashion show for Balenciaga. The invitation would be presented across social media channels, including Instagram and Tiktok in order to increase sign ups to access the virtual platform. The catwalk will feature digital avatar models representing diversity in size, age, gender and race, appealing to the consumer expectation of brand transparency and authenticity. As objective 1 provides the time parameters of increasing sales conversion rate by 5% within 6 months, it is recommended that Balenciaga focuses on hosting only 1 fashion show within the set time scale to ensure feasibility.
5.3 MARKETING ASSET - DIRECT EMAIL SIGN UP PAGE
This marketing asset illustrates an email template that will be sent directly to Gen Z and millennial consumers to promote the new bespoke tailoring service at Balenciaga. Direct email is an effective tactical tool to utilise because it allows high control, reach and CPM (PR Smith, 2022). To effectively implement this tactic, the action involves investing in the services of an email marketing agency to optimise efficiency and access to full creative design functions. Balenciaga spent under $100 million dollars in digital and print advertising last year (MediaRadar, 2023). Therefore, the size of the organisation and previous advertising expenditure of Balenciaga indicates that the 'Technology & Tailoring' campaign would be within the marketing budget.