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A request for proposal (RFP) is written when a business needs a marketing, advertising, or public relations project completed by a third party. Prospective vendors respond with a written marketing proposal, including how the project will be completed, how long it will take and how much it will cost. The marketing proposal should also include an executive summary, suggested tactics, a review of competitors, a detailed analysis of the target audience, a project budget, and a timeline. The company that generated the RFP reviews all proposals and chooses the top two or three submissions for further review.
When a business needs a marketing, advertising, or public relations project completed by a third party, a request for quotations, called a request for proposal (RFP), is written. The RFP is then delivered to prospective vendors. The RFP includes detailed information on what needs to be done and why. Companies or individuals who want to win the job respond to the RFP with a written marketing proposal. This proposal includes how the project will be completed, how long it will take and how much it will cost.
Marketing proposals are usually written by advertising and marketing agencies, PR firms, design firms, or people working in these marketing fields. The people writing these proposals must ensure that the proposals are complete and error-free in order to be considered for the work requested in the RFP. Sometimes there is no RFP. A proposal can be the result of a marketing agency or an individual suggesting or presenting an idea to a potential client.
When an RFQ is provided, it usually requires that the proposal be delivered within a certain time frame. The marketing proposal usually begins with an executive summary which is a description of the current situation or problem that necessitates the project requested in the RFP. The executive summary continues with suggested tactics that will fix the problem. These tactics can include email, online, print, radio and television advertisements, print letters, brochures, websites and surveys, and more. The executive summary should also state how these tactics will follow through with the client’s overall marketing plan and business plan.
The marketing proposal should also include details to help demonstrate that the proposed tactics will be successful. A key element is a review of what the RFP company’s main competitors are doing to promote a product or service similar to the one listed in the RFP. A detailed analysis of the target audience, the people who will benefit from using the product or service, is also an essential part of the proposal.
Finally, a list of estimated costs, called the project budget, and a detailed schedule, called the timeline, conclude the marketing proposal. The timeline can include dates for each stage of the project if the client has provided a specific deadline. General information, such as “two weeks,” can be used if no specific project completion date was listed in the RFP.
Once the marketing proposal deadline has passed, the company that generated the RFP reviews all proposals. A winner can be announced or the company can choose the top two or three submissions for further review. The authors of these lead proposals may be interviewed by telephone or be asked to complete a live presentation before projected marketing is awarded.
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