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American Marketing Association - Strategy Report

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Marketing strategy plan for SUNY New Paltz AMA plan - 2016. This plan was devised for the premise of the degree in Marketing Communications at SUNY New Paltz. This plan was further implemented by the AMA and won an award.

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American Marketing Association - Strategy Report

  1. 1. Work Street Work City,Work State Work ZIP,T Work Phone,F Work Fax Phone,M Mobile Phone,E Work Email,Work URL 
 SUNY NEW PALTZ AMERICAN MARKETING ASSOCIATION MARKETING STRATEGY PLAN 
 COMPILED BY:
 EVAN WOLFF/ SAM CHEEMA / LOGAN FISCHER / KRISTINA GANDOLFO / KIMBERLY KALLANSRUDE
  2. 2. MARKETING STRATEGY TABLE OF CONTENTS
 Executive summary 3 History 3 THE AMERICAN MARKETING ASSOCIATION 3 SUNY NEW PALTZ COLLEGIATE CHAPTER OF THE AMA 3 Strategic plan 4 MISSION 4 VISION 4 GOALS 4 ORGANISATIONAL CORE 4 Situation analysis 5 MICRO ENVIRONMENT 5 MACRO ENVIRONMENT 5 SWOTANALYSIS 7 Market-Product focus 7 GROWTH STRATEGIES 7 POINTS OF DIFFERENTIATION 8 Marketing program strategy 8 PRODUCT 9 PLACE 9 PRICE 9 PROMOTION 9 Financial projections 9 Implementation plan 10 TIME FRAME OF OBJECTIVES 10 ANTICIPATION RESOURCES 11 ORGANISATIONAL STRUCTURE 11 Evaluation 11 HOW WILLTHE PLAN BE MONITORED? 11 HOW WILL DEVIATIONS FROM THE PLAN BE CORRECTED? 12 Citations 13
  3. 3. MARKETING STRATEGY 3 EXECUTIVE SUMMARY The State University of New York at New Paltz Chapter of the American Marketing Association (AMA) creates opportunities for students and AMA members to acquire the knowledge and skills necessary to foster personal and professional growth. The AMA supplies the resources necessary for members to expand their networks, gain real-world business experience, and prepare for their careers. The AMA strives each year to continue to raise the bar and create goals that are challenging, as well as realistic. Our chapter works diligently to recruit members with high academic standards and ambitions. We aim to drastically increase the number of events to continue assisting students with their transition into the business world and to improve their confidence. The AMA hosts professional membership events, competitions, and national level networking events. Workshops are offered on topics related to leadership, interpersonal skills and time management focusing on critical skills for career preparation. Programs offered help develop the types of portable skills and capabilities necessary to achieve success in any business field during any economic cycle. Our achievements are truly remarkable and we are extremely proud of all that we accomplish. Our goals are accomplished with the support of our members, sponsors, and the New Paltz campus and community. HISTORY THE AMERICAN MARKETING ASSOCIATION The American Marketing Association is an international professional organization of marketers and business professionals alike. The beginning of the AMA is traceable back to the early 20th century when the National Association of Teachers and Advertisers (NATA) merged with the American Society for Marketing which brought together all marketers, no matter what specialty, in an effort to have collaboration and solve problems within business and organizations. The American Marketing Association celebrated 75 years of association in 2012. Over the last 78 years, the American Marketing Association has engaged in a multitude of activities to bring their members together and share up-to-date, relevant information. Some of these activities include: regional, national, and global conferences, exclusive trade publications, such as the Journal of Marketing, Webinars, a fraternal honor society, and networking events throughout the country and world. SUNY NEW PALTZ COLLEGIATE CHAPTER OF THE AMA Founded by Professor Theodore Clark in 1985, the SUNY New Paltz Collegiate Chapter of the American Marketing Association is the longest standing student organization within the School of Business at SUNY New Paltz. Since its inception, the SUNY New Paltz AMA has grown to be the largest organization within the School of Business, with an average of 80 members per semester. Over the years, the chapter has participated in regional marketing consulting projects and has assisted numerous organisations in the community such as Family of New Paltz and the Ulster County Chamber of Commerce and the New Paltz Chamber of Commerce. In 2014, and again in 2015, the SUNY New Paltz Collegiate Chapter of the American Marketing Association was recognized as a top eight, Silver level chapter.
  4. 4. MARKETING STRATEGY 4 STRATEGIC PLAN MISSION The collegiate chapter of the American Marketing Association (AMA), at the State University of New York (SUNY) at New Paltz, seeks to create opportunities for AMA members to acquire knowledge and skills to foster personal and professional growth.The AMA will supply the resources necessary for members to expand their networks, gain real-world business experience, and prepare for their careers. VISION Our vision of the American Marketing Association is to provide people with a way to gain real life experience in the Marketing field. The American Marketing Association will leverage all available resources to provide an extracurricular education to its members and continue to gain brand awareness. Through working with a diverse set of departments and other organizations, the American Marketing Association at SUNY New Paltz will offer an education in the marketing business area that will be unparalleled to any other offering at SUNY New Paltz. By doing this, we expect to be able to have enough demand for services to justify our lofty goals. GOALS 1. Increase overall participation by 100% 2. Increase national membership by 50% 3. Land 4 paid or unpaid consulting projects each year 4. Involve 50% of membership in various consulting projects 5. Increase brand awareness throughout the SUNY New Paltz Campus 6. Assist 5 local and national organizations to improve our community and nation 
 ORGANISATIONAL CORE Professional Network
 The SUNY New Paltz American Marketing Association’s current and past membership consists of a majority of well-networked individuals. Throughout the years, we have also built our chapter network through alumni and faculty engagements. To utilize our professional network to reach organizational goals, we do the following: - Invite professionals to campus for professional development purposes - Reach out to alumni and regional business leaders for sponsorships - Plan day trips for site visits of local businesses -Increase membership with diverse professional experiences
  5. 5. MARKETING STRATEGY 5 Professional Experience The AMA fosters ideas from general and executive members in order to plan valuable and engaging events. For example, due to a large demonstrated interest in learning how to use a digital editing program, we planned a Photoshop 101 workshop which was lead by students from the Graphic Design Program within the School of Fine and Performing Arts. In addition, support of campus departments through past collaboration has allowed the professional development of our chapter to flourish. The members of the SUNY New Paltz American Marketing Association have diverse professional experiences through the following: - Internships - Previous professional careers - Entrepreneurship SITUATION ANALYSIS MICRO ENVIRONMENT The micro environment consists of the internal factors that influence the AMA’s daily operations. All the stakeholders play a major part in the micro landscape of the organisation as they become a collective group enabling the functionality of the AMA. - Customers: Anyone can benefit from all AMA programs. You do not need to be a business major to gain information about how to market your business, yourself, or your ideas. If you are a music major you can benefit from the AMA. For example, if you are making an album and want to learn how to sell it to people and reach customers who enjoy the type of music you are making, the AMA can help. - Competitors: No one can compete with the AMA. The only thing that would hold a student back from joining the AMA is if there is a time conflict between another organization or class. If you are part of another club, being part of the AMA can benefit your other clubs. - Suppliers: The suppliers for the AMA are the professional business people that provide workshops. We also consider faculty, staff and select students, suppliers of content for the chapter. On a national scale, the entire AMA International infrastructure is a supplier of value for the AMA chapters. The inclusion of the job boards and professional development aid, supplies chapters and their members with detailed information about their passion/field of intuition. MACRO ENVIRONMENT
  6. 6. MARKETING STRATEGY 6 The macro environment makes up the uncontrollable environmental forces that directly impact the landscape or the American Marketing Association directly. They are reactive and can change at any time, meaning the AMA will have to adjust and adapt to the change. -Demographic: All students are welcomed to join the SUNY New Paltz chapter of the American Marketing Association and have the ability to join at any point during their college career (undergraduate or graduate). While many students may feel as if they need a business background in order to join, there are no restrictions for prospective members. -Sociocultural:
 Joining clubs on campus is a great way for students to get involved in the campus community. Students may feel they need to join clubs that have relevance to their major and may believe they do not have the time to join a club they could have potential interest in that is outside of their studies. The AMA is competing against other clubs for student’s time and attention, but the benefits from membership far outweigh the indecisiveness of joining. -Political:
 Approval for events hosted by the AMA must go through Student Association, Student Activities, and the School of Business. This approval inhibits the realm of events the AMA can hold. -Economic: 
 Finances are tight in society at large and also within the AMA. Members are finding financial uncertainty to be a big factor when considering joining the AMA. -Money:
 Student Associations issues a yearly budget for every club on campus. This budget can be boosted by actively seeking out further professional partnerships. For specific events, if they cost over a certain dollar amount, the AMA must present the event idea to the Programming Board and Budget and Finance Committee for approval and funding. -Technological: 
 Our ability to communicate with other AMA chapters across the country has greatly improved allowing us to learn how they operate and how they are successful. By reaching out to chapters that have achieved Gold status, we are able to learn ideas from them to better our chapter. Not only do we reach out to chapters above us, but we also communicate with chapters who have a lower rating, or no rating at all and give them helpful information to start or improve their chapters.An example of this could be Marist College, Plymouth Sate University and University of Massachusetts Amherst.We have greatly assisted these three chapters with their growth and development.
  7. 7. MARKETING STRATEGY 7 SWOTANALYSIS MARKET-PRODUCT FOCUS GROWTH STRATEGIES To grow the organisation the implementation of whole campus inclusion will shift the current focus of our association. By forming a tight partnership with the digital media club, the AMA can leverage a greater autonomy of creative content to captivate their target market. To grow the AMA in terms of population size, the main strategy for growth is the active inclusion of students from other majors. To do this the E-Board and current members will actively recruit other departments and promote the AMA through WOM (word-of-mouth) marketing efforts and social media tools. By utilising face to face contact students can see what they are getting involved in and the AMA can shift some of the stigmatization that the AMA is designed primarily for business students. By using social media, we can constantly post about the AMA to increase our awareness and involvement. Our target customer is between the ages of 17 and 25 who is enrolled at SUNY New Paltz as undergraduate and graduate students.The target market does not necessarily have to be business orientated and someone who enjoys getting to know and understand people and who would like to expand their personal and professional growth would be an excellent member. We will also target other organizations on and off of the SUNY New Paltz campus to help us gain membership and add value to existing members. By building and maintaining relationships with off campus businesses and organisations our chapter will be able to have increased coverage and longevity long after the current cohort move through SUNY New Paltz.
  8. 8. MARKETING STRATEGY 8 The development and launch of social channels that are in active use daily will seek to improve two way channel engagement. By honing in on the students passion for digital use, it will allow prospective members to be reached easily outside of the traditional message via the current traditional streams - primarily in the business school. 1. Students We have segmented this target into two broad concentration categories: 1) Business and Communications Students and 2) Students from other schools within SUNY New Paltz. We segment these two because the students from the Schools of Business and Communications have a better understanding of what the American Marketing Association is and the importance of the offerings. These people need to be marketed to less for general interest and awareness and can have more focused marketing on events, outings, site visits, etc. For students from other schools within SUNY New Paltz, we first have to allot resources to awareness campaigns that focus on the purpose and importance of being involved with the American Marketing Association.The skills learned through being part of the American Marketing Association are relevant to any college student that intends to be employed or do business, which is one of the main reasons for attending college, especially SUNY New Paltz. 2. Other Student Organizations To accomplish the goals of the organization, we will target other organizations, on campus and off campus, to establish common goals and form synergies between organisational core competencies. For example, the SUNY New Paltz Chapter will begin the process of forming a SUNY-wide AMA interest group, in order to gain influence amongst other AMA chapter entities. POINTS OF DIFFERENTIATION Being the only organisation designated to marketing on campus the AMA offers a level of leverage over other societies on campus. By offering a level of professionalism within the society, it offers a unique proposition of educating students through a fun and engaging setting. The AMA offers an all inclusive attitude that allows the students to feel that they can benefit from participating and becoming an active member. Furthermore, the AMA allows students to spearhead their future career by connecting, networking and linking up with future employees and colleagues. Organisational positioning 
 Positioning the organization as an all inclusive career enhancement builder allows students to explore their fascination for understanding what makes people tick. By positioning the AMA as a professional development society students and members are encouraged to buy into the philosophy of the society. This is also a big factor in attracting new members and partnerships as it is a society with a great deal of integrity that carries on well founded traditions. MARKETING PROGRAM STRATEGY Our strategy focuses on developing a series of events, site visits, social outings and exclusive offerings to students that opt to become members of the American Marketing Association. For each target market, we will gear our marketing and offerings to meet their needs and grasp their interest. Each piece of marketing material and every organizational action should take into consideration the fact that
  9. 9. MARKETING STRATEGY 9 “everyone uses marketing” and it is relevant to everyone. Their will be a heavy push towards social and digital means of advertising and two way communication. Students are more digital savvy now than ever and engage heavily over the array of platforms. PRODUCT As a national member, individuals receive, to name a few, limited distribution job postings, journals, access to professional networks, and access to high value conferences throughout the globe.As a collegiate chapter member, students have the opportunity to engage with business professionals and network with others through professional development events, internship opportunities, and company visits. PLACE Since the American Marketing Association is an international organization, the benefits from becoming a member can come in largely differing forms and be delivered through numerous distribution channels. The SUNY New Paltz AMA brings professionals to campus for development events, schedules site visits with local and regional companies, and engages in consulting for local not-for-profit agencies. PRICE To join the American Marketing Association as a National Member, you must pay $47 per year as a collegiate level student. Due to Student Association regulations at SUNY New Paltz, we can not charge annual dues at the Collegiate level. PROMOTION In order to attract our target market, we must engage in organized, yet catchy promotion. Promotion will take place across all traditional campus platforms such as bulletin board flyers, posters, and WOM (word of mouth). WOM promotional activities are what drives the captivation of new members. Existing members help to ‘sell’ the AMA to prospective students by further engaging the intended audience with a stream of created and curated content. This content develops an improved level of two way communication across social channels. Students use social channels more than anyone else and this is where the target audiences are. The refresh and launch of social strategies will improve engagement. FINANCIAL PROJECTIONS 2015-2016 SUNY New Paltz AMA Budget Beginning Balance $1,000.00 NOLA Conference Grant $2,200.00 20th Annual BDC $2,000.00 8th Annual Dining Etiquette $700.00 7th Annual Wine Tasting $500.00 National Membership Fees $3,100.00 Student Assn. Budget $13,800.00 Donations $500.00
  10. 10. MARKETING STRATEGY 10 Sponsorship $1,500.00 SOB Contributions $1,500.00 ___________________________________ Total Revenues $26,800.00 Expenses New Orleans Conference $6,370.00 20th Annual BDC $4,242.25 8th Annual Dining Etiquette $1,372.50 7th Annual Wine Tasting $892.00 National Membership Fees $3,100.00 Fees for Speakers $1,500.00 Transportation $1,124.00 Advertising Expense $705.00 Gifts for Speakers $300.00 General Member Meetings $60.00 ___________________________________ Total Expenses $19,665.75 IMPLEMENTATION PLAN TIME FRAME OF OBJECTIVES Planning Period: September 2015 - May 2016
 In order to have an experienced executive board that is ready to take over a societal transition, we will appoint a “junior executive board” at the end of the Fall 2015 semester. A timeline of events for the implementation period will be established and written in order for the plan
  11. 11. MARKETING STRATEGY 11 to be effective and not get behind schedule. A guideline for the purpose and planning of events will be established as well as a process to be followed. 
 1. Implementation Period: Fall 2016 semester
 2. Evaluation and Control Period: Spring 2016 ANTICIPATION RESOURCES - Financial resources - Elected E-Board - Social Channel and partnerships in pipeline - A strong will power and proactive team (social & members)
 ORGANISATIONAL STRUCTURE The SUNY New Paltz American Marketing Association is governed by an Executive Board which consists of the president, executive vice president, and seven vice-president positions. As a tactic for gaining long term engagement, the E-Board elected will generally be Sophomores and Juniors as this provides a degree of longevity and ensures that the AMA is prioritized of great importance by it’s board members. (Below is a diagram of the organizational structure) EVALUATION HOW WILLTHE PLAN BE MONITORED? Quantitative Metrics: - Number of engaged social media followers. Engaged followers will create “buzz” and have the potential to make a post go viral.
  12. 12. MARKETING STRATEGY 12 - Numeric and percent increase in social media following. With an increased social media following, there will be a larger audience available to see the number of Social Mentions. Also, the number of Sponsors determined by our members will allow us to monitor the plan on a quantitative scale. Qualitative Metrics: Brand Image (on campus and off campus) and Brand Awareness (on campus) are very important to understand how the target audience feels about the organization. These two metrics are intangible, but they underpin the ‘why’ which will assist the AMA in understanding members needs. Organizational success and the success of SUNY New Paltz AMA alumni will allow the AMA to determine the success level of AMA members, past and present. HOW WILL DEVIATIONS FROM THE PLAN BE CORRECTED? Due to inevitable year-to-year turnover of the Executive Board, the AMA faculty advisor will serve as an organizational continuity liaison. Any deviations from the plan will be addressed by the executive board. We recognize that deviations from the plan may be necessary for the success of an event or the success of the organization as a whole, therefore, such deviations will be discussed and voted on by the executive board with the advisement of the faculty advisor. 

  13. 13. SUNY NEW PALTZ AMA MARKETING PLAN 13 CITATIONS AMA PUBLISHING: ARCHIVE. “HISTORY OF THE AMERICAN MARKETING ASSOCIATION”. RETRIEVED ON NOVEMBER 1, 2015 FROM HTTPS://ARCHIVE.AMA.ORG/ARCHIVE/ABOUTAMA/PAGES/HISTORY.ASPX. BRUSO, A. SUNY NEW PALTZ WEBSITE NEWS. “AMERICAN MARKETING ASSOCIATION RECOGNIZES NEW PALTZ WITH HIGH RANKING, LIFETIME ACHIEVEMENT AWARD PRESENTED TO FACULTY ADVISOR TED CLARK”. RETRIEVED ON NOVEMBER 1, 2015 FROM HTTPS:// SITES.NEWPALTZ.EDU/NEWS/2015/04/AMERICAN-MARKETING-ASSOCIATION-RECOGNIZES-NEW-PALTZ-WITH-HIGH-RANKING-LIFETIME- ACHIEVEMENT-AWARD-PRESENTED-TO-FACULTY-ADVISOR-TED-CLARK/

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