Option #1 Promotional PlanFor Option #1, you will provide a

Option #1: Promotional PlanFor Option #1, you will provide a promotional plan that communicates the business’s benefits based upon needs of buyer. The plan must be logical and convincing plan, with a strategy to communicate the company’s benefits in such a way that it will persuade buyers or clients about the worth of your business’s product or service.The success of a small business is based on its ability to communicate and to meet the needs of its target market. One of the most important ways to do this is with a promotional plan. In the past, promotional plans were seen as short-term ways to boost revenues and market share. Current research has shown that promotion is a direct link to customer loyalty and retention. For this reason, small businesses should produce a promotional plan.The objective of the promotional plan assignment is to gain experience applying a promotional strategy to help a firm gain competitive advantage. This assignment will help you apply and integrate all of the course objectives for MKG425. The promotional plan assignment will be completed in sections (these will be Portfolio Milestones that are due throughout the course. See below for a list of these deliverables.) Preliminary Deliverables (Portfolio Milestones) for Option #1these deliverables/milestones must EACH be on a separate piece of paper, not included in the page count of the portfolio!!!!!!!!!!!! The following pieces of the plan will be due throughout the course for those of you who chose to complete Portfolio Project Option #1.Module 2 Milestone: Identifying the organization and plan for Portfolio ProjectBegin researching a small business of interest for the Portfolio ProjectEvaluate the business and its needsExamine the difference between a Promotional Plan and a Public Relations PlanIdentify which plan is most crucial for the success of the small businessIdentification of the promotional activity or public relations used in the plan.Module 4 Milestone: Branding the organizationCommunicating the importance and objectives of the organizationDevelop a statement for the Portfolio Project based on the image of the organization (brand)Module 6 Milestone- Identify Target Market and NeedsIdentify the specific individuals in need of your business’s product or serviceDiscuss decision criteria and the people involved in the decision-making processMatch the business’s objectives with the customer’s needs and wantsDetermine the financial implications of the plan PAPER DIRECTIONS —-Be 8 -12 pages in length, not including the cover page and reference page.Support your answers with at least three scholarly journal articles (at least one of which is peer-reviewed).Be sure to follow APA Requirements. Your paper must include an introduction, a body with at least two fully developed paragraphs, and a conclusion.Your paper must be well written using excellent grammar and style techniques. Be concise. Be logical. You are being graded in part on the quality of your writing.