Question

Topic: Strategy

Launching A Product In Manhattan

Posted by Anonymous on 1/3/2012 at 2:15 PM ET 500 Points
Hi,

If you were launching an over-the-counter pharmacy product through the pharmacy retail channels in the Manhattan area. With a budget of 200,000 to spend on adverting and promotion. How would you divide the funds amongst the different media outlets in % terms to help drive the product off the retailer's shelf

Ian
To continue reading this question and the solution, sign up ... it's free!
SUBSCRIBE
Or, SIGN IN

RESPONSES

  • Posted by Tracey on 1/3/2012 at 2:21 PM Accepted
    Wow, that's tough, hard to get much reach with $200k to be honest. Is it a specialty product, or are you trying to reach a larger audience?

    If it's not a real niche product I would suggest using the budget for online advertising, focusing on the outlets that get you the most reach for your target audience. 200k won't go far enough in print (maybe 1 full-page insertion).
  • Posted by Andy Fracica, MBA on 1/3/2012 at 3:03 PM Accepted
    $200,000 doesn't buy a lot in a small market let alone the top market in the country.

    With a budget that small, you really might want to consider using Buzz marketing techniques. You need to get people talking about your product. Maybe you can stage some sort of publicity stunt outside the pharmacy that could potentially get picked up on the local channels WPIX, WNBC, WABC, WCBS that would get people talking about your product.

    I hope this helps,

    Andy Fracica
  • Posted by Tracey on 1/3/2012 at 6:40 PM Member
    Oh, one other medium to consider for good reach in the NYC market is a regional FSI. News America or Smart Source should be able to give you some data on the level of sales lift you can expect - but of course you have to fund the coupon on top of the insertion + creative production. You might also want to consider funding a promotion at the store, though your options may be limited depending on their volume hurdle rates.
  • Posted on 1/3/2012 at 10:27 PM Accepted
    It sort of depends on what you expect to accomplish and what success looks like for you. Your budget is fine if your sales goal is not terribly ambitious. A few spots on local cable tv is probably going to get you as much bang for your buck as anything else in Manhattan, but you'll get plenty of spill-out into the other boroughs as well. Do you not want to promote the product in the other boroughs?
BACK TO TOP

Post a Comment

Related Discussions

Community Info

Top 25 Experts
(Strategy)