Sports Marketing and Media: Milestone 4 Financial forecast and Executive Summary - Assignment Example

Financial forecast for marketing plan Executive Summary The following reports indicate the financial forecasting for the market plan of Adidas Group. Determination of the appropriate cost for each element used in marketing is crucial for the marketing function. In the report method or adjusting the budget for marketing has been discussed, this is to ensure the marketing cost is kept under control.Financial forecast for marketing plan Marketing of all Adidas products demands a workable marketing plan.

For instance, the year 2016 advertisement is considered to be the most efficient tool in the marketing process. This is because of its capability to reach billions of global population. Advertisement will include billboards, posts in magazines and international television channel. The cost will be high in the first quarter than the other quarter, because in the first quarter demand for Adidas products are normally low. Therefore, the advertisement will try to buffer demand. Training of the marketing team is essential; because it is from them that they can convince a sports club like Arsenal to enter into a business contract for outfit supplies.

Therefore, the team should have selling points that will eventually create sense to the possible clients. The use of online platform when it comes to marketing cannot be ignored. Facebook, Twitter and other social media platform can still be used to reach the millions of users. A team dedicated to work tirelessly in posting information concerning new products using online platform should be in place. To enhance customer service level which is part of marketing the online marketing team should respond to consumers’ queries within the shortest time possible.

Adidas is a multinational firm that cannot afford to downgrade its service level by taking long to respond. The fund allocated for online marketing increases as the year progresses. Reason for this, can be linked to the growing demand that is witnessed as the year progresses. There is a need to employee or hire new staffs who will handle the increased customer base. Adoption of the marketing plan will incur the management of Adidas considerable amount (2,680,000), but in the long run the demand for its products will surpass that of its competitors the likes of Nike, Puma et cetera.

Marketing is viewed by professional marketers as a component that creates a “gap” to be filled by sales. Therefore, the bigger the gap the profitable an organization will be in the future. However, the cost incurred in marketing should be controlled to avoid over financing thus eating too much of a firm income. In future if Adidas makes profit that is above 18% then the budget for marketing by 3% and if loss is experienced, then the previous adjustment should be reduced by 50%Gantt Chart for the First Quarter Marketing PlanActivities 1-4 WEEKS5-8 WEEKS9-12 WEEKSAdvertisement  Corporate promotion Marketing training  Sales promotion  Public relation   Online platform   Gantt Chart for the Second Quarter Marketing PlanActivities 1-4 WEEKS5-8 WEEKS9-12 WEEKSAdvertisement   Corporate promotion  Marketing training   Sales promotion   Public relation   Online platform   Gantt Chart for the Third Quarter Marketing PlanActivities 1-4 WEEKS5-8 WEEKS9-12 WEEKSAdvertisement  Corporate promotion Marketing training  Sales promotion   Public relation   Online platform   Gantt Chart for the Third Quarter Marketing PlanActivities 1-4 WEEKS5-8 WEEKS9-12 WEEKSAdvertisement  Corporate promotion Marketing training  Sales promotion   Public relation   Online platform   References(n.d.).

Retrieved June 14, 2015, from http://www.adidas-group.com/media/filer_public/b6/97/b6971cb1-03c5-4f75-a2be-97f7d383de2d/en_q1_2015.pdfEquities. (n.d.). Retrieved June 14, 2015, from http://markets.ft.com/research/Markets/Tearsheets/Forecasts?s=ADSX.N:GERAdidas AG ADS. (n.d.). Retrieved June 14, 2015, from http://www.marketwatch.com/investing/stock/ADDYY/financials