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Social Marketing Plan - STEP 9: Establishing Budgets and Finding Funding for New Mothers in DEBT in Greater Toronto Area - Research Paper Example

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Social Marketing Plan - STEP 9: Establishing Budgets and Finding Funding for New Mothers in DEBT in Greater Toronto Area
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Pritesh Patel 12 March Product Related Costs Creating Marketing Campaigns There will be a maximum of $2,000 in costsassociated with creating marketing campaigns to promote the social marketing plan for New Mothers in DEBT. The budget should allow for large scale promotions such as billboards and television advertising as well as smaller promotions like pamphlets or small newspaper advertisements. This amount comes from the notion that non-profits have smaller budgets due to their status.
Price Related Costs
In addition to the cost of developing the promotional material for the social marketing plan, other costs that will need to be absorbed into the budget include finding individuals to teach the informative sessions, developing and printing the course materials as well as allowing monetary room to cover potential room rental costs.
Place Related Costs
In order to alleviate some pressure in the budget, it is a worthwhile idea to check with local Toronto hospitals including the Women’s College Hospital, St. Michael’s Hospital, Sunnybrook Hospital or St. John’s Hospital Centre. By checking with these institutions, it may be possible to use a meeting room or conference room, preferably on an ob/gyn floor to allow maximum availability to new mothers. If these rooms were donated, there would be no cost for the social program as they could market the hospital where the meetings were being held.
Promotional Related Strategies
Through meeting with local Toronto business owners, promotional related strategies for this social marketing plan include setting up a program where new mothers could get coupons for attending this social program. A probable way to do this would be to award new mothers the coupons at the end of the seminar as an incentive to attend the course. These can be done as trade items and will not require a budget amount.
Educational Related Strategies
The budget would also have to allow funds to compensate a course teacher, nurse midwife or ob/gyn to briefly check in with new mothers at or around the time of their six-week postpartum appointment to discuss their spending habits. This option also allows for greater monitoring of the success of the program as women should take it shortly before the delivery of their new baby.
Through the combination of these strategies, the social marketing plan for New Mothers in DEBT would have better budget options as well as more room to allow for alternative spending measures to promote this campaign and conduct surveys to determine it’s success among new mothers.
“Do Women or Men Spend More Money?” Moneying. Web. 12 March 2012. http://moneying.com/money-management/do-women-or-men-spend-more-moeny/. Read More
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