Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring

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Strategic Marketing Plan

Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring

(Due in Wk 6)

Current and New Target Markets

Determine two current and two new markets for your strategy and describe how you will provide value to each target market.

 

Marketing Mix for New Target Markets

Determine adaptions for each of the new target market.

· Products

· Price

· Distribution

· Traditional Promotion

· Online Promotion

Marketing Implementation

Create the implementation for your marketing plan. Describe how you will organize and implement the plan, such as whether it will be organized by market, geography, and who is responsible for marketing decisions.

Marketing Communication Channels

Evaluate the marketing communication channels you will use to reach selected audiences. Include Internet and traditional communication channels to convey key messages. Describe the advantages and disadvantages of each channel you select. Insert or remove rows as needed.

Channel Target Market Advantages Disadvantages
Example: Direct mail Middle class residential Can include coupons Expense and low return rate for given product
       
       
       
       
       
       

 

Strategic Actions

Develop specific activities required to implement the marketing plan. Identify the person or role who will be responsible for each action, when it will be complete, and what standard or metric indicate that the activity is complete. Insert or remove rows as needed.

Action Date for Completion Person/Role Responsible Standard/Metric
Example: Design flyer for direct mail campaign 1/1/2021 J. Smith, graphic designer Approval by senior marketing team and legal
       
       
       
       
       
       

 

Monitoring

Develop the measurement to identify how you know you have been successful for each strategic action. Specify the measures to track performance against goals. Identify standard reports from your online and traditional marketing efforts. Insert or remove rows as needed.

Action Target Person Responsible Inter-measurement
Example: Direct mail flyer 1100 new inquiries Western regional manager 500 new inquiries first month of campaign
       
       
       
       
       
       

 

 

Copyright 2020 by University of Phoenix. All rights reserved.

Copyright 2020 by University of Phoenix. All rights reserved.