urgent 2

Urgent 1–7 hours

MKT/574 v1

Don't use plagiarized sources. Get Your Custom Essay on
urgent 2
Just from $13/Page
Order Essay

Strategic Marketing Plan

MKT/574 v1

Page 2 of 2

Strategic Marketing Plan

Part A:

Environmental Analysis

and

SWOT Analysis

(Due in Wk 2)

Company Description

Describe the company you are designing the plan for. Include:

· Mission Statement

· Vision Statement

· Product line description

· Company information, such as the size of the company

Environmental Analysis

Analyze the forces that affect the company and marketing efforts.

Competitive Forces

Analyze the company’s key competitors. You may choose to use a BCG Matrix or attribute checklist to compare your company against its competitors. Describe any strategic moves the competition has recently made. Estimate your market share. Identify key competitive advantages against your competitors.

Economic Forces

Analyze the economic environment in the areas affecting your business. Consider differences within your industry and the economic impact on suppliers.

Political Forces

Analyze relevant political forces. Examples may include an election year or a law to drastically reduce or eliminate plastic waste in your county.

Legal, Regulatory, and Ethical Issues

Analyze the legal, regulatory, and ethical issues that may affect your business. Considerations may include local laws such as a ban on the use of plastic bags, the ability to post billboards, or a possible increased regulation on direct mail.

Technological Forces

Analyze whether your company will be affected by emerging technologies or trends in hardware and software industries

Social Forces

Analyze social trends and how they may affect your business. Considerations may include if your business will be affected by demographic trends, a growing dependence on computers, or whether interest in your product might be affected by growing preferences in the way things are done or changing social values.

Current Target Markets

Define the company’s current target markets. Describe the demographic, geographic, psychographic, and product usage of these targets.

Review Current Marketing

Review the company’s current marketing tactics. Consider how people find out about the product, how they get information about the product or service, what might be involved in the buying process, and what money is available for marketing. If your company is a start-up, describe your competitors’ current marketing.

SWOT Analysis

Assess your company’s strengths, weaknesses, threats, opportunities, and then evaluate how to address these in your marketing plan.

Strengths

Assess your company’s competitive advantage. Consider core competencies, assets, location, practices, etc. that are distinct in the way the organization meets the needs of its customers.

Weaknesses

Assess what limits the company may have in its current marketing strategy. Consider if there is a company weakness that needs to be addressed through Public Relations or Marketing.

Opportunities

Assess the opportunities you see based on trends or environmental conditions.

Threats

Assess the threats or limitations that may interfere with the company’s ability to meet its objectives or interfere with marketing plans.

Strengths to Opportunities & Converting Weaknesses and Threats

Convert weaknesses and threats to strengths, then strengths to opportunities in the marketing plan. Consider the implications for addressing supplier relationships, implementing new technologies, or changing the product line or addressing new markets.

Marketing Objectives

Establish marketing objectives based on the results from the SWOT analysis. Marketing objectives must align with corporate objectives, modified by the company’s resources. Objectives should include a date for the completion of the objective and the way in which success will be measured. For example: The company will expand its marketing efforts to include a new market segment of 21- to 29-year-olds. This will entail the development of a customized product by June 2020 that will address the specific psychographic and technological needs of this age group. This strategy is expected to attain a 20% growth in overall sales by January 2020. Customer loyalty (willingness to recommend the product) will increase by 30%.

Part B: Marketing

Data

Analysis

(Due in Wk 4)

Internal Data

Evaluate internal sources of information available to you inside the organization and what information you will receive from each source. Identify 3-6 sources of internal data. Insert or remove rows as needed.

Source

What it Measures

Data

Potential Usage

Example: Sales data

Monthly sales by specific product

Average sales that month in US dollars for each of 10 products. Data can be segmented by business and consumer markets.

Can be used for trend analysis, projections, and to measure effectiveness of promotions.

Secondary Data

Evaluate secondary data sources and the specific information you need from each source. Insert or remove rows as needed.

Source

What it Measures

Data

Potential Usage

Example: U.S. Census Bureau

Income over the last 4 years by family structure

Household structures with the highest income capacity

Market Share Analysis

Customer Segments

Primary Data

Evaluate primary data needs to create and evaluate the marketing plan. Insert or remove rows as needed.

Source

What it Measures

Potential Usage

Data

Example: Focus group

Product usage, motives, identify group level satisfaction, decision process, etc.

Qualitative

Identify different reactions of market segments to product. Identify marketing opportunities, product/service flaws and opportunities

Customer Relationship Management

Establish customer touchpoints and develop appropriate CRM events for customer acquisition, retention, and profitability. Insert or remove rows as needed.

Data

CRM Touchpoint

Purpose & CRM Objective

Potential Data Usage

Example: Customer profile information on website

Starts the account for visitors: name, geography, email address (Customer acquisition)

Presale: geographic location; customer id, source of reference

Email address

Post sales: address, product purchased, quantity, price.

Track new and returning customer counts, total period purchases by customer ID, geographic sales data. Can be used for loyalty rewards, retention, and targeted marketing.

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

(Due in Wk 6)

New Customer Segments

Determine any new customer segments for your strategy and describe how you will provide value to each segment.

Marketing Mix for New Customer Segments

Determine adaptions for each new customer segment.

· 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.

PHIL1100 Assignment 3, due August 9 before 11:59 pm

Late penalty is 5% per day unless there is a documented medical excuse.

Do not use any sources for this assignment except the assigned readings, my lecture notes, and

my video recordings on Moodle. Your answers should be stated in your own words and

supported by brief quotations from the readings. Cite the readings in text (Author’s last name,

and page number). You may also quote from lecture notes or video recording. Once again,

references should be in text (Smolkin, lecture notes) or (Smolkin, Video Recording). Remember,

do not use the internet or other external sources for this assignment. I want you to answer the

questions by doing the assigned readings, and use my lecture materials for extra help.

I, Name:_________________Student #________________, certify that the answers to this

assignment are my own. I certify that I did not share my answers with others, or take help from

anyone else. I also certify that I did not use any other sources other than the assigned reading,

the lecture notes, and video recordings provided in this course. I affirm that I did not use the

internet to help answer any of these questions. I acknowledge that violating any of the above will

result in an automatic score of “0” and that there will be no chance to redo the assignment or

replace it with some other assignment.

Answer one of the following questions.

Answer the questions directly. Do not provide an introduction or conclusion. Each question

should be answered in approximately, 10 – 12 paragraphs.

1. According to Kagan, what makes death bad for the one who dies? Consider two major
objections to this view that Kagan discusses. Explain how he responds to each of these

objections. Raise one other challenge to his view of what makes death bad for the one

who dies. According to Kagan, would immortality be desirable? Explain his argument

for his view? Explain the memory loss/evolving personality argument for how

immortality could be desirable. Explain Kagan’s response to that argument. Discuss one

important problem for Kagan’s response. In the final analysis, do you think an immortal

life under ideal conditions could be desirable? Why or why not?

2. What is Kagan’s view on whether it is appropriate to fear death? Explain his argument
for his view. Discuss an important problem for Kagan’s argument? How might Kagan

best reply to that problem? What emotions does Kagan think are appropriate when

thinking about one’s death? Explain. According to Kagan, how should the fact that you

will die affect how you should lead your life? Do you agree with Kagan, if not, why not,

and if so, how might you hope to implement those insights into your own life?

Achiever Essays
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

Live Chat+1(978) 822-0999EmailWhatsApp

Order your essay today and save 20% with the discount code RESEARCH