MKT574 Week 6 Part C - Strategic Marketing Plan

Week 6 Part C: Strategic Marketing Plan

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

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