Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring
New Target Markets
Determine any 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 new target market.
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- Traditional Promotion
- Online Promotion
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.
|Example: Direct mail||Middle class residential||Can include coupons||Expense and low return rate for given product|
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|
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.
|Example: Direct mail flyer||1100 new inquiries||Western regional manager||500 new inquiries first month of campaign|
For the marketing plan assignment week 6, you are developing Part C of the marketing plan (read Very Important Note). Be sure you include detailed research, information, and analysis to present the requirements of the assignment (please, see the rubric). The chosen market and target audiences should clearly state in the strategic marketing plan. I recommend you review the comments and feedback provided in your previous assignments to strengthen your paper this week (what I have pointed out to you). APA format, 7th edition, is a must (including a front page). The paper should be posted in Word format.
Very Important Note
In Part C, do not just present a single advantage and disadvantage. Apply all that you consider necessary for your strategic marketing plan to be successful. Do not include the examples already presented in the tables. Make sure to include a brief explanation for each table. Do not include the example.