Hello Kevin,
I did some investigation. Following are the details -
1. Screenshot which you had shared in your question shows Promotion which you had created using /SAPAPO/MP34. I see you have created Absolute Promotion with Periodicity of 'Week' without any Cannibalization Group.
This all looks fine.
2. "Planning Version not specified" is not the error, it is just information message. I believe "Planning Version" need to be specified when you create Selection Profile. Please check your selection profile.
3. Usually, once you create the promotion(as per #1 above), you assign the objects by using button "assign multiple objects". It is used to assign CVCs to the promotion. This is an important step.
4. However If you do NOT want to use Promotion KF from /SAPAPO/MP33 then you can create promotion base using /SAPAPO/MP40. This is just an option available, you need not to use.
5. Once the objects are assigned, status of Promotion is changed from D(draft) to P (planned in future)
6. Master Forecast Profile is NOT required. As Promotion Planning is not integrated into the Statistical Forecasting process.
Hope this will give you some insight.
Thank you
Satish Waghmare