The project is progressing well, and you have now been asked if there is enough time and budget to create and distribute a new marketing mailing. This mailing will be focused on a new international marketplace, so the existing materials cannot be used as is. The materials will need to be translated (external resource), have different graphics applied, and use different colors. The cost for mailing internationally is twice the cost of the domestic mailing, and the volume is 200,000–250,000 addresses. A mailing list will be purchased for this mailing because it is a new market for the company.

You need to determine the costs of this mailing (internal and external). You also need to determine the resource requirements and identify any conflicts. Jennifer and you have a working session later this week to pull together the information.

In preparation for the meeting, create a worksheet (in Excel or another spreadsheet tool) that you can use to create the budget for the new mailing.
Pre populate the worksheet with the components of the estimate, and provide directions to Jennifer in a procedures document (in Word) on how to create a three-point estimate for the resulting budget.
Be sure to also include the internal costs.
Also, create a schedule that identifies the deliverables, activities, and resources to produce this mailing.
Using the project schedule you created as a group, identify the resources you will use and what conflicts that may form (in Word).
Justify your choices.

Solution and Explanation:

There are many cost components which needs to be considered, external as well as internal.

1. since our existing material cannot be used we have to get the new material designed in the language of the target country(external Cost)

2. After the marketing material have been designed from external agency, 200,000 to 250,000 pieces needs to be printed.

3. since it is a new international market, we do not have mailing address of the target audience, hence we need to purchase the mailing address from some external marketing agency.(external Cost).

4. since we have to mail these marketing material to international destination the cost of mailing would be high and we have to get the quotation from postal services for mailing high volume of material.

following is the template of cost estimation of external costs, during the meeting with Jennifer we need to discuss and find out estimated cost of each line item in the below template to get the estimated budget to create and distribute new marketing mailing.

We also need to consider the internal costs such as time invested of packing the Printed material, labeling the material and coordinating with the postal company for mailing these material.

Sno      Particular                                                             Qnty             total cost

1  Designing New Material in different language  1             0

2  Cost of printing each material                     250000      0

3  Cost of purchasing mailing

address from marketing agency                              1             0

4  Postal charges of mailing each material  250000             0

Total Cost                                                                                              0