CANADIAN TIRE CORPORATION: PROJECT CRIMSON
INTRODUCTION
The Crimson Affinity Program is an innovative way to capture new and current customers of Canadian Tire Corporation (CTC). To truly speak the language of our prospective target market, CTC must pinpoint exactly what they are looking for. In order to generate this higher return on investment, we have the perfect solution. Our omnichannel marketing plan provides one seamless experience for customers.
MARKET RESEARCH: INTRODUCING PROJECT CRIMSON
To begin, for the purpose of market research, surveys will be distributed all across Canada, with a daily chance to win $50 to Crimson Affinity Stores. Millennials born between 1984 to 2004 are eligible to complete the survey and enter for a chance to win a gift card. Spanning 10 days, 100 …show more content…
*http://www.hartentertainment.com/catalog/money-machines/money-machine/
$1,195 per daily rental* x 7 days x 50 Malls
=$418,250.00
Grab N’ Win Canadian Tire Money given out
*the bills grabbed can be controlled by changing the machine settings
*the average of Canadian Tire bills included are 10¢, 25¢, 50¢, $1, $2 is 0.50
*150 participants, assuming one participant plays every 2-2.5 minutes in the 6 hours
10 bills grabbed* x 0.50 in value* x 150 participants* x 50 malls x 7 days
=$262,500.00
Grab N’ Win Employees’ Wages
*assuming minimum wage
6 hours x 4 employees x 50 malls x 7days x $14* hourly wage
=$117,600
Promotional Video
*https://onemarketmedia.com/2010/03/03/what-does-a-web-video-cost-25-factors-with-prices-that-affect-video-production-costs/
Storyboard: $60/hour x 5 hours = $500
Editing: $70/hour x 2 hours (1 hour per 1 minute of finished video = 2 hours for 2 min promotional video) x 1 video=$140
Camera/equipment: 6 hours x 5 malls x $200 per hour=$6000
Crew: $35/hour x 3 crew member x 6 hours x 5 malls=$3150
TOTAL=$9,790*
Cost of future prizes for Earn with Friends
Can be taken from the unused part of budget (approximately 660,000)
TOTAL BUDGET USED
INTRODUCTION
The Crimson Affinity Program is an innovative way to capture new and current customers of Canadian Tire Corporation (CTC). To truly speak the language of our prospective target market, CTC must pinpoint exactly what they are looking for. In order to generate this higher return on investment, we have the perfect solution. Our omnichannel marketing plan provides one seamless experience for customers.
MARKET RESEARCH: INTRODUCING PROJECT CRIMSON
To begin, for the purpose of market research, surveys will be distributed all across Canada, with a daily chance to win $50 to Crimson Affinity Stores. Millennials born between 1984 to 2004 are eligible to complete the survey and enter for a chance to win a gift card. Spanning 10 days, 100 …show more content…
*http://www.hartentertainment.com/catalog/money-machines/money-machine/
$1,195 per daily rental* x 7 days x 50 Malls
=$418,250.00
Grab N’ Win Canadian Tire Money given out
*the bills grabbed can be controlled by changing the machine settings
*the average of Canadian Tire bills included are 10¢, 25¢, 50¢, $1, $2 is 0.50
*150 participants, assuming one participant plays every 2-2.5 minutes in the 6 hours
10 bills grabbed* x 0.50 in value* x 150 participants* x 50 malls x 7 days
=$262,500.00
Grab N’ Win Employees’ Wages
*assuming minimum wage
6 hours x 4 employees x 50 malls x 7days x $14* hourly wage
=$117,600
Promotional Video
*https://onemarketmedia.com/2010/03/03/what-does-a-web-video-cost-25-factors-with-prices-that-affect-video-production-costs/
Storyboard: $60/hour x 5 hours = $500
Editing: $70/hour x 2 hours (1 hour per 1 minute of finished video = 2 hours for 2 min promotional video) x 1 video=$140
Camera/equipment: 6 hours x 5 malls x $200 per hour=$6000
Crew: $35/hour x 3 crew member x 6 hours x 5 malls=$3150
TOTAL=$9,790*
Cost of future prizes for Earn with Friends
Can be taken from the unused part of budget (approximately 660,000)
TOTAL BUDGET USED