Assignment Details
This assignment builds upon your work in Units 1, 2, 3, and 4.
You have compiled all of the data for the board of directors and the chief marketing officer (CMO), and they have asked that you report it to the shareholders as a marketing plan. Your marketing plan will outline where the business is, its desired destination (objectives), and the conditions it will face in its efforts to reach that destination. The plan helps to integrate activities, schedule resources, specify responsibilities, and provide the means for measuring progress. Understanding the market situation reveals a set of key issues that needs to be addressed to reach the desired destination. Situation analysis and identification of key performance issues are critical inputs to the marketing plan. To construct a realistic plan, managers need to estimate what the total market demand might be (Hollensen, 2019).
You are to create a marketing plan of your chosen company that enhances organizational efficiency and effectiveness through the application of ACBSP key business domains of accounting, finance, statistics, economics that outlines where the business is, its desired destination (objectives), and conditions it will face in efforts to reach that destination, how to integrate activities, schedule resources, specify responsibilities, and provide a means of measuring progress.
Using the research you have from the discussions and assignments in Units 1, 2, 3, and 4 and six outside sources, create your marketing plan with the following framework:
- Title
- Executive summary
- Purpose of the report
- The problem it is addressing
- Problem analysis
- Results of analysis
- Recommendations
- Introduction
- Your key business objectives
- Your strategy for achieving those objectives
- Situational analysis
- Target market
- Competitors
- Business challenges
- The company’s competitive differentiators
- Marketing objectives and goals
- Increase brand awareness
- Increase market share
- Improve ROI (return on investment)
- Attract new customers
- Retain current customers
- Marketing strategies and programs
- Target audience
- Segmentation
- PEST analysis
- SWOT analysis
- Completive analysis
- Budgets
- Content marketing
- Paid advertising
- Public relations (PR). search engine optimization (SEO), and influencer marketing
- Relationship management, business-to-business (B2B), and business-to-consumer (B2C)
- Events
- Implementation and control
- Identify the goal for each segment
- Strategy to achieve the goal
- Conclusion