Tag: strategic marketing plan

Strategic marketing plan

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You are asked to develop a strategic marketing plan for a real existing company of your choice stating clearly your chosen company’s background and the market where it operates. Your plan should include an assessment of the attractiveness of the chosen market segments and an actionable marketing strategy, matching the positioning and targeting strategy identified for these segments. You must also demonstrate alignment with one or more of the United Nations Sustainable Development Goals (UN SDGs).
Each one of the groups needs to choose from the following products/services as their subject for the marketing plan:
1. Fashion: Create a marketing plan for a fashion house using only sustainable products such as plant-based or made from upcycled and/or recycled materials like plastics or fabrics.
2. Healthy Living: Create a marketing plan related to sports equipment, fitness apparel, skincare, hydration or a food supplement.
3. Technology: Create a marketing plan for a technology that improves the quality of life like wearable tech.
4. Food & Leisure: Create a marketing plan for the Scottish tourism industry, encouraging sustainable tourism, consider eating locally with locally sourced produce, improve visitor attractions, discuss the impact on the environment.
5. Sustainable Transportation: Create a marketing plan for electric vehicles, for local government initiatives to convert the existing modes of transportation, address the concerns and challenges that a population has over the costs, charging range or charger availability.
6. Any other product/service: For any alternative products/services please inform and gain permission from your Tutor or the Module Leader.
Instructions:
• Template: The strategic marketing plan should make use of appropriate tools and frameworks and include relevant elements from the following template:
CoverPage (excluded from the word count) should include the Module name and number (BU52008 Marketing Management & Strategy, Student names and ID numbers, Group number, Title of the assignment (Strategic Marketing Plan) and the Final word count.
Table of Contents (excluded from the word count) should include the full list of sections within the report (including any appendices and reference lists), the page number on which each section begins, a List of Illustrations (if applicable), a List of Figures (if applicable), List of Tables (if applicable).
Executive Summary which is a short overview of the finished report.
Brief Background, with reference to the chosen company’s background and the market where it operates.
Environmental/Situational Analysis (e.g. using PESTLE, Porter’s 5 Forces, Competitor analysis, Customer analysis, Internal audit/SWOT as appropriate).
Aims and Objectives (must be SMART).
Target Audience (you should segment and define your target audience and discuss whether/why they are an attractive market segment).
Marketing Strategy – Recommended competitive positioning and marketing mix for acquiring and retaining the target market.

Strategic marketing plan

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You are asked to develop a strategic marketing plan for a real existing company of your choice stating clearly your chosen company’s background and the market where it operates. Your plan should include an assessment of the attractiveness of the chosen market segments and an actionable marketing strategy, matching the positioning and targeting strategy identified for these segments. You must also demonstrate alignment with one or more of the United Nations Sustainable Development Goals (UN SDGs).
Each one of the groups needs to choose from the following products/services as their subject for the marketing plan:
1. Fashion: Create a marketing plan for a fashion house using only sustainable products such as plant-based or made from upcycled and/or recycled materials like plastics or fabrics.
2. Healthy Living: Create a marketing plan related to sports equipment, fitness apparel, skincare, hydration or a food supplement.
3. Technology: Create a marketing plan for a technology that improves the quality of life like wearable tech.
4. Food & Leisure: Create a marketing plan for the Scottish tourism industry, encouraging sustainable tourism, consider eating locally with locally sourced produce, improve visitor attractions, discuss the impact on the environment.
5. Sustainable Transportation: Create a marketing plan for electric vehicles, for local government initiatives to convert the existing modes of transportation, address the concerns and challenges that a population has over the costs, charging range or charger availability.
6. Any other product/service: For any alternative products/services please inform and gain permission from your Tutor or the Module Leader.
Instructions:
• Template: The strategic marketing plan should make use of appropriate tools and frameworks and include relevant elements from the following template:
CoverPage (excluded from the word count) should include the Module name and number (BU52008 Marketing Management & Strategy, Student names and ID numbers, Group number, Title of the assignment (Strategic Marketing Plan) and the Final word count.
Table of Contents (excluded from the word count) should include the full list of sections within the report (including any appendices and reference lists), the page number on which each section begins, a List of Illustrations (if applicable), a List of Figures (if applicable), List of Tables (if applicable).
Executive Summary which is a short overview of the finished report.
Brief Background, with reference to the chosen company’s background and the market where it operates.
Environmental/Situational Analysis (e.g. using PESTLE, Porter’s 5 Forces, Competitor analysis, Customer analysis, Internal audit/SWOT as appropriate).
Aims and Objectives (must be SMART).
Target Audience (you should segment and define your target audience and discuss whether/why they are an attractive market segment).
Marketing Strategy – Recommended competitive positioning and marketing mix for acquiring and retaining the target market.

Strategic Marketing Plan

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Analyze marketing decision support systems and their impact upon marketing management systems Analyze the appropriate marketing strategies to apply at each stage of the product life cycle Assess the key factors, such as demographic, economic, natural, technological, political, and cultural developments, that affect marketing strategies Assess the major influences in current consumer and organizational buying decisions Construct a strategic marketing plan

 

This assignment entails the development of a comprehensive strategic marketing plan for a new product or service that is ready to go to market. A project template that allows you to organize your work in increments and see how the sections come together to produce a comprehensive plan is provided.

Product or Service

This assignment requires the application of concepts learned to build a strategic marketing plan for a new product or service that is ready to go to market. You will not be allowed to mimic plans or ideas from larger or already in-place campaigns. You must develop the business concept in its entirety.

Describe the new product or service.
Discuss the qualities that make this product or service new to the marketplace and the rationale for your decision to pursue the concept. Be sure to pick a product or service that is ready to go to market. If you are developing a new product, assume that the development phase is over and that you are ready to launch the product into the marketplace.
Objectives and Mission Statement

Create a mission statement. State your short-term (1 year) marketing objectives. Assume that the product or service is ready to launch at the beginning of the year (planning and testing have been completed).

Marketing objectives include goals for sales, profits, and market share (as examples).
Objectives need to be quantifiable. Use SMART—simple, measurable, achievable, relevant, and time-specific—in formulating your objectives. An objective with a 100% goal is not acceptable.
Target Market

Identify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you is the U.S. Census Bureau’s American Fact Finder. Consider the size of the market and its purchasing power. Research is required to back up your selection and to provide statistics to show that it is a viable market.

Competition

Analyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends or forecasts in the industry? How does your product or service fit in? Business Source Complete in the Library is a good tool for this section; it may be accessed under “Find Articles & eBooks.”

Product or Service Features

Provide a brief overview of the product or service.

State the features of your product or service. Show how it is innovative and different. It may be unique because of the area in which you plan to market it.
Discuss legal and ethical implications that could affect the marketing process. This will require research.
Core Strategy

Discuss your core strategy, and make sure to connect it to your mission and objectives. Include a discussion on product or service positioning.

Marketing Mix: Communications and Promotion

The marketing mix is the set of decisions about communications and promotion, price, channels of distribution, and customer relationship management (CRM). An integrated marketing communications (IMC) approach delivers a clear and consistent message to your consumers and is connected to your core strategy.

Discuss the aspects of the IMC. (The elements of the communication mix include advertising, direct marketing, sales promotion, publicity or public relations, and personal selling.) Define each, and discuss the pros and cons of the individual elements.
Provide a detailed description of your IMC approach. Explain your rationale for choosing or rejecting the specific elements (include applications to the earlier research section). What changes do you expect to make as the product or service matures?
Describe the message that you wish to communicate based on your core strategy. Explain your rationale for the message. Formulate how you will communicate with your target market. Be specific. How will the Internet be used in your IMC approach?

Strategic Marketing Plan

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Download https://portal.phoenix.edu/api/contentservices/rest/contentresolver/02-DOCUMENT-5e4e8c18dd7db1303bc492bc
Many digital and social media sites are widely used in marketing strategies.

Create a 10- to 15-slide presentation with detailed speaker notes and visual elements.

Complete the following in your presentation

Identify a company that could benefit from better use of social media.
Analyze at least 10 digital and social media channels and describe the strengths and weaknesses of each of these as a marketing tool for this company.
Design an online strategy that maximizes the use of some or all of the digital and social media channels, as appropriate, based on your analysis.
Determine key performance indicators to measure the success of the online strategy.

Phase 2 Discussion Board

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Within the Discussion Board area, write 600–800 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

As you close your weekly meeting with Deborah, she says, “There are some very good ideas here. I would like to see you continue with a global marketing plan. We need more concrete analysis and data for the presentation. Get your team to work.”

After your meeting with Deborah, you briefly meet with your team to discuss moving toward a more formal analysis.

“Tiffany and Mike, we need to provide a more detailed analysis,” you explain. “You’ve done a great job so far looking at what resources we need and potential countries, but we need to really dig deeper on this.”

Tiffany nods her head in agreement. “Definitely,” she says. “We need to look at some internal variables as well as political, environmental, sociocultural, and technological environments of the countries that we are considering.”

Mike interjects, “Well, that’s something we should consider, but it’s not the only way to analyze this type of project. This is such a big decision, and we need to give as much information as we can.”

You reply, “Great point, Mike. We should look at this from a couple of different angles.”

You go back to your office to update the project schedule with Deborah’s instructions. You review the activities and note the project remains on schedule.

The next task in your strategic marketing plan is to determine the tools that are needed to conduct an analysis of the industry and competitors. Complete the following:

What are the best tools to use in this situation?

Provide a brief summary of at least 2 of these tools.

Why do you think these are the best ways to analyze the market?
How will you use these tools in your plan?

The materials found in the M.U.S.E. may help you with this assignment, such as the audio file Implementing a Global Strategy. This file provides real-world experience that may help you with this assignment.

Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:

What did you learn from your classmate’s posting?
What additional questions do you have after reading the posting?
What clarification do you need regarding the posting?
What differences or similarities do you see between your posting and other classmates’ postings?

For assistance with your assignment, please use your text, Web resources, and all course materials.