MKT500 Part C Abc Marketing Plan Change To Your Business Nam

Mkt500part C Abc Marketing Plan Change To Your Name Of Business Here

Explain how you will use the feedback you received on Part B of your marketing plan to improve your plan. Do not just list the feedback. Next, re-introduce your company you shared in Part A/B. Lastly, review what you will share; pricing and distribution strategy; integrated marketing communications; sales promotion, and personal selling plan; competitive analysis; online and direct marketing plan; and social responsibility/cause related marketing plan.

Write an introduction here. Minimum of three sentences. Develop the company’s pricing and distribution strategy. Suggestion: use elements from Discussion Week 7 to help you with this section. Pricing Strategy Text starts here (pricing strategy should be in comparison to your competition – example, do you plan to do a penetration or skimming strategy? Relate this to your readings and learnings from textbook, page ). Distribution Strategy Text starts here (discuss how customers will buy. Are you using direct or indirect channels? Are you using intensive, selective, or exclusive distribution? What is your logistics and supply chain management strategy (i.e., who are your vendors and how will you interact with them, will you use wholesalers, will you have dealers/retailers)? Do not confuse the way you market to a customer as a distribution channel. Distribution is how a customer will buy, i.e., the path to purchase; it is not advertising. Distribution strategy is your route to market. Are you online, brick-and-mortar, reselling to retailers, using wholesalers, what is your supply chain management, vendors?

Develop your integrated marketing communications plan most relevant for your product / service and audience. This section has many points, be thorough. Message Strategy Develop your message strategy. How do you plan to be consistent with your traditional and social media choices? Media Strategy Develop your media strategy. What are your media choices and how will you use them? What is your rationale for your choices and why are they relevant to your target market. Public Relations, Sales Promotion, and Personal Selling Plan Write an introduction here. Minimum of three sentences. Develop your public relations, sales promotion, and personal selling plan most relevant for your product / service and audience. Introduction of this section here; minimum three sentences. Sales Promotion Plan Text here. Most familiar uses of sales promotions are couponing, rebates, loyalty programs, tier pricing, etc. Personal Selling Plan Text here. Will you have outside sales representatives, inside sales representatives, telemarketing, customer service, live chats? Include any direct communication plans you will have. Online and Direct Marketing Plan Develop your online and direct marketing plan most relevant for your product / service and audience. How will these media tools be used to influence your target audience? Digital Marketing Add your text here to talk about your use of digital marketing such as social media and your website, the purpose of your website and how it will deliver the customer experience to support your brand. This is a good section to use references to speak to the validity and choice of your social media choices (i.e., use an academic resource that shares their research on demographics and metrics of the use of Facebook. For example, Facebook has xxx number of followers that are between the age xx and xx with income level of xx –xx, and like to share xxxx --- then cite/reference the source). Advertising Add your text here to discuss your online advertising. Please make sure to distinguish between Pay Per Click and Display advertising and your rationale for these choices. Search Engine Optimization Add your text here to discuss search engine optimization and if this adds value to the marketing of your hypothetical business. Direct Marketing Add your plan to use direct marketing to communicate the value of your business to your targeted customers. Social Responsibility Plan Develop your social responsibility / cause related marketing plan most relevant for your product / service and audience. See pages. What is your contribution to the community? Conclusion Summarize the plan to this point (minimum of three sentences) and you should not include any new thoughts (just summary). Sources Use three (3) credible, relevant, and appropriate resources as marketing research to determine the feasibility of your product / service. In order to receive most points as exemplary, you must meet the required number of credible, relevant, and appropriate references. These resources should be industry specific, relate to your chosen product / service, and be published in the last 5 years. A good way to incorporate is by using Journal of Marketing, as an example, for your theories and consumer behavior observations. SWS Guidelines: (delete this from your paper) This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course and . © 2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. Feedback for Part B You adequately described the feedback you received. You sufficiently explained how feedback will be used to improve your marketing plan. This shows some understanding of how to gather information on your hypothetical business and use it to improve your marketing plan. You re-introduced your hypothetical business. You did not introduce the contents of the remainder of your marketing plan. Brand Strategy: You did not provide all the executional elements that support your hypothetical brand. These include the brand name – why does this work? What does it mean to your consumer? Brand logo – what is it, why does it work? Your slogan, should be short and memorable and clearly communicate to your consumer. Brand extension – what is a natural fit to grow your brand and company? All these executional elements need to be designed to support your brand. This was not clearly explained and all these elements were not provided. Target Market: Your target markets are too broad. You only used one or two bases of segmentation to describe your target audiences. Remember that demographic, geographic, psychographic and behavioral bases make up the target audience definition. This needs to be much more defined with a thorough rationale for your targets. These bases of segmentation are used for both your primary and secondary target audience and should create a unique target audience definition for both. You cannot communicate effectively with your target consumer if you do not know them very well. Positioning Statement and Perceptual Map: You are missing the positioning statement. No perceptual map was provided. There is no statement that depicts your position in terms of who you are talking to, who you are better than and why you are better. Consumer Behavior: You are missing tying in consumer behavior with brand name, slogan and brand extension. The brand and brand elements are designed to encourage the first step in the buying process. It is not clear that this connection is understood. There is a reason that a marketer uses all these elements to build their brand with their target customer. Are you sure that you understand this process? References and Citations: Your paper used three (3) academic, peer reviewed references as quantitative marketing research to determine the feasibility of your product / service. In order to receive most points, you must submit four (4) or more. You showed a clear understanding of academic, peer reviewed references. Most of your APA or SWS formatting for your references is correct. Mechanics: Please use the template.