MKT/574 WK1 Assignment: Concepts and Applications Worksheet
Worksheet
Name:
Question
Answer
Application
Citation
What is marketing?
Marketing is a process through which an organization engages the target market to build strong relationships and, in return, get sales.
It involves the promotion and selling of products or services and will involve much research and then advertising.
The marketing department in the company implements this.
Several strategies can be applied: social media marketing, email marketing, conversational marketing, TV advertising, and direct selling.
(Blythe & Martin, 2019)
What are common misconceptions of marketing?
Marketing misconceptions are wrong thoughts that people have about how to approach marketing. The following are some examples:
1. Small businesses do not need marketing-this misconception leads many small businesses to fail.
2. The marketing plan only involves advertising-this is not true because marketing plans do not only use the traditional advertising strategies today.
3. A business does not need to market to existing customers-this is a severe misconception because keeping customers involves keeping them engaged or through.
Having marketing misconceptions costs the business because it fails to fully take advantage of marketing strategies that can help to bring in more customers and keep the loyalty of the existing customers.
An example will be a scenario where the business fails to advertise because it feels that it has enough customers.
(Pride & Ferrell, 2021)
What role do value and exchange play in marketing?
Value is the difference between what the customer perceives to be the product's benefit and the product's cost compared with other products. It plays a critical role in determining the worth of the product being provided in the market.
Exchange is what happens when people trade products or services. The role of the exchange is to provide utility which means that the product the company is selling should be less in value than the benefits.
Value and exchange result in profit for the business.
Value and exchange provide a means for a company to determine the best marketing strategies and set the correct prices. The goal is to ensure that the company can gain profits throughout the whole process.
(Wood, 2016)
What is the marketing mix? [Hint: 4Ps]
The marketing mix can be considered the tactics that any business uses to promote its product(s) or service(s) in the market.
It is centered around the 4P's: price, place and promotion of the product or service. These 4P's interact significantly with each other and, they are usually limited in different ways by both internal and external issues.
The marketing mix is necessary to help companies identify what the customers want, how the product or service they are producing meets that need, how it is perceived in the market, and the competitive advantage compared to competitors.
The marketing mix is a marketing tool that determines the specific aspects t ...
Running Header BRANDING STRATEGY AND MARKETING COMMUNICATION PLA.docxgertrudebellgrove
The document discusses Nintendo's 5-year marketing plan to increase its international sales. The plan focuses on consumer analysis of its target market of 10-30 year olds, identifying new international markets, and addressing current threats. Nintendo will analyze economic, technological, regulatory and social factors and exploit opportunities in software, hardware, accessories and mobile apps. The goal is to broaden its market share by introducing products in every region from a central location.
Running Header BRANDING STRATEGY AND MARKETING COMMUNICATION PLA.docxgertrudebellgrove
Running Header: BRANDING STRATEGY AND MARKETING COMMUNICATION PLAN
.
Running Header: BRANDING STRATEGY AND MARKETING COMMUNICATION PLAN
Branding strategy and marketing communication plan
Dennis Gamarra
University of Phoenix
Instructor: Meraj Khan
March 2, 2020:
Branding Strategy and Marketing Communication Plan
Every firm is obliged to create a brand of their own that will market them and market their products as well. There must be a good strategy for the branding of the to enable the firm out to do their competitors in the marketing of their products. During the branding process, a firm must also put into consideration on the way to communicate with their prospective customers as well as play fairly on competitors. In the branding, one situational analysis that has to be put into consideration is the vision, mission, strategic objectives, and the values of the firm. In the branding process, the firms are highly advised to maintain their mission and the vision to ensure that they do not focus on a different goal. The communication message to the audience should be in the capacity to drain their attention and interest on the products but not away from the business. The communication method should be appealing and be objective towards the mission and the vision of the firm (Blakeman, 2018).
The strengths and weaknesses of the firm should also be highly considered in the branding strategy. Firms should be keen to ensure that they do not expose their weaknesses during communication with their audience during promotion events as this will devalue the firm, and this may lead to falling in their sales, and even the competitors may use the weaknesses as their competing tool. The firms should give a high priority in the exposure of their strengths to their prospective audience in their branding as this highly influences the habits of the audience towards the products of the firm. The strengths, when efficiently communicated through the branding, will lead to the achievement of the set goals of the business is a good time. The firms should also have great objectives during the advertising of their products. The purposes will enable them to choose the proper channel of advertising. The firm should consider a channel where it will be able to access a large number of the targeted group and in good time. Proper communication during the advertisements and the use of the most relevant channel of advertising will foster the rise in the sales of the firm and also facilitate the achievement of the set goals and objectives of the firm (Blakeman, 2018).
On matters to deal with public relations, firms should be keen not to interfere with the rights of the others in society. The firms should design a way on how to interact with their audience in a friendly way and create a good gesture for the whole society at large. Firms should be open to answering any complaint forwarded to them by the audience in an honest way so as to satisfy the interests o ...
DiscussionChoose a problem or issue that you would like to resolDustiBuckner14
Discussion
Choose a problem or issue that you would like to resolve. Of course, only share what you are comfortable sharing. Address the following items about your problem or issue:
1. Describe a problem/issue.
2. As a solution-focused therapist treating a client with this same issue, describe what techniques you would use.
3. Describe possible goals for this client.
4. Describe possible interventions for this client.
5. Identify the possible outcome with this client.
Please include in your answer some of the following "solution-focused therapy" terminology: alternative story, coauthoring a new story, deconstruction, dominant story, exception questions, externalizing conversations, miracle question, not-knowing position, problem-saturated story, re-authoring, scaling questions, storied lives, problem talk, change talk, narrative letters.
MARKETING MIX 1
Marketing Mix: Energy Drink
Anthony Bahlman
UMG
MKTU/605
05/29/2022
MARKETING MIX 2
Marketing Mix Description
Product
The company maintains a simple product mix. The company has established different
flavors for the energy drink to ensure that they suit the customer needs and tastes. Some of the
flavors that will include cranberry, coconut, blueberry, and kiwi. Due to the growing need for
having sugar-free drinks among the millennials has led to the introduction of the sugar-free energy
drink. The energy drink will be packaged in a bottle that is white with a combination of blue color
and a sparking image to show that the drink is bursting with energy. The container will be
cylindrical with the brand name written horizontally in sparkling red color.
Pricing
The energy drink is a new product in town. Therefore, the pricing strategy that will be used
is market skimming. The company wants to ensure that the investments are recovered in the
shortest time possible before there are more imitations and the rise in the price competition. Thus,
enforcing the brand position as a unique healthy product will require the prices of the new product
to stay higher than the competitors (Rajavi et al., 2019). The price will however, be set at a
reasonable level and be realistic to ensure it adds value to the consumers. The company will also
use special pricing methods and tactics to ensure it stimulates purchases. The use of discounts for
bulk purchases is meant to enhance purchases in high quantities. The company will also use
discrimination tactics to ensure the prices are lower for some customer segments such as the
students in colleges, sports centers, bars, and restaurants.
Promotion
The company will use push promotional strategies to ensure the energy drink reaches a
greater market. This is a strategy that ensures that the company takes the products to the
MARKETING MIX 3
consumers. The goal of this strategy is to ensure the products are taken directly to the consumers.
The company will thus work with contracting different wholesalers and retai ...
E- Marketing Strategies
A marketing strategy refers to a business' overall game plan for reaching prospective consumers and turning them into customers of the products or services the business provides.
Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered on the key concept that customer satisfaction is the main goal. Fulfillment of wants of the prospects is one the important goals of marketing activities.
Marketing principles have been changing through decades, being influenced by different
environmental factors and advanced technologies. Even how we define marketing is changing, and what we
expect from successful marketing campaign is also changing. The latest definition of marketing is; it is an
exchange process, where needs and wants are satisfied, competing for the purchasing power of consumers
(Brunswick, April 2014)
Running Head MARKETING COMMUNICATION AND BRAND STRATEGY .docxcowinhelen
Running Head: MARKETING COMMUNICATION AND BRAND STRATEGY 1
MARKETING COMMUNICATION AND BRAND STRATEGY 5
MARKETING COMMUNICATION AND BRAND STRATEGY
Regina Snedecor
MKT/571 Marketing Management
April 15, 2017
Heidi Kelley
Marketing Communication and Brand Strategy
Branding in business is the process by which goods or commodities of a company given names that can easily identify in the market. Branding is an essential thing when it comes to business; this is an active brand has a guaranteed long life; this is because will shift from the commodity itself but settle on the name. Various things attributed to a powerful brand that will ensure that the company will be able to have a product that will sell itself just by the mention of the name. This paper will come up with an efficient manner or rather strategy of setting a brand. Marketing communication, on the other hand, is defined as the plan established by the company so that it can be able to reach its desired customers. The company will have to pick as accurate communication that will help them achieve the market communication plan.
In coming up with a proper marketing plan it is fundamentally based on the objectives of the company, and there are the essential 4ps that are not to be forgotten, they are a place, promotion, price, and product. Situational analysis is used by managers in a collection of data to be able to analyze the internal and external environment to understand the capabilities of the customers and the business climate. The following are the situational analysis when coming up with a brand operational requirement to pick and analyze to be able to understand the dynamics of the environment and the expectations of the clients (Donthu, 2000).
Vision, mission, strategic objectives.
For any successful brand, the needs of the client ought to come first this is because they are the people in whom the business intends to consume the product. Therefore, the vision of any successful brand should be towards customer satisfaction and meet their needs. The objectives of a business are what firstly dictates its survival in the firm. The values and strategic goals of any business should be carried out with the thought of the client this will assist in fulfilling the desires of the customers and coming up with an effective brand.
Strength/weaknesses
For a successful brand to build a SWOT analysis should be conducted, this will be able to identify the place in which the business holds in the market. When strengths identified, the business will be able to capitalize on the power; this will be able to overshadow the weaknesses that identified when the company settled. For instance, a brand that is being set up in the clothing industry, if they had a strength of making clothes with better fabrics compared to their competitors and their weakness is that it would likely face a shortage of supply. The business n ...
Marketing plays a vital role in organizations by guiding the direction of the company and helping to develop products and services. Marketing can help shape products through analyzing customer needs, developing target markets, and introducing new offerings. Marketing also helps determine appropriate pricing by considering factors like operating costs, competition, and perceptions of value. Additionally, marketing ensures promotional strategies are customized and effective across different channels. Marketing provides direction on distribution by evaluating the best ways to reach customers through various participants. Overall, marketing's contributions span all aspects of the marketing mix and allow organizations to make informed strategic decisions.
This chapter discusses integrated marketing communications and promotion planning. It defines key concepts like advertising, public relations, personal selling and sales promotion. It explains that an integrated marketing communications approach coordinates these different promotion tools for maximum impact. The chapter also covers promotion objectives and models, budgeting, legal issues and criticisms of promotion activities.
Running Header BRANDING STRATEGY AND MARKETING COMMUNICATION PLA.docxgertrudebellgrove
The document discusses Nintendo's 5-year marketing plan to increase its international sales. The plan focuses on consumer analysis of its target market of 10-30 year olds, identifying new international markets, and addressing current threats. Nintendo will analyze economic, technological, regulatory and social factors and exploit opportunities in software, hardware, accessories and mobile apps. The goal is to broaden its market share by introducing products in every region from a central location.
Running Header BRANDING STRATEGY AND MARKETING COMMUNICATION PLA.docxgertrudebellgrove
Running Header: BRANDING STRATEGY AND MARKETING COMMUNICATION PLAN
.
Running Header: BRANDING STRATEGY AND MARKETING COMMUNICATION PLAN
Branding strategy and marketing communication plan
Dennis Gamarra
University of Phoenix
Instructor: Meraj Khan
March 2, 2020:
Branding Strategy and Marketing Communication Plan
Every firm is obliged to create a brand of their own that will market them and market their products as well. There must be a good strategy for the branding of the to enable the firm out to do their competitors in the marketing of their products. During the branding process, a firm must also put into consideration on the way to communicate with their prospective customers as well as play fairly on competitors. In the branding, one situational analysis that has to be put into consideration is the vision, mission, strategic objectives, and the values of the firm. In the branding process, the firms are highly advised to maintain their mission and the vision to ensure that they do not focus on a different goal. The communication message to the audience should be in the capacity to drain their attention and interest on the products but not away from the business. The communication method should be appealing and be objective towards the mission and the vision of the firm (Blakeman, 2018).
The strengths and weaknesses of the firm should also be highly considered in the branding strategy. Firms should be keen to ensure that they do not expose their weaknesses during communication with their audience during promotion events as this will devalue the firm, and this may lead to falling in their sales, and even the competitors may use the weaknesses as their competing tool. The firms should give a high priority in the exposure of their strengths to their prospective audience in their branding as this highly influences the habits of the audience towards the products of the firm. The strengths, when efficiently communicated through the branding, will lead to the achievement of the set goals of the business is a good time. The firms should also have great objectives during the advertising of their products. The purposes will enable them to choose the proper channel of advertising. The firm should consider a channel where it will be able to access a large number of the targeted group and in good time. Proper communication during the advertisements and the use of the most relevant channel of advertising will foster the rise in the sales of the firm and also facilitate the achievement of the set goals and objectives of the firm (Blakeman, 2018).
On matters to deal with public relations, firms should be keen not to interfere with the rights of the others in society. The firms should design a way on how to interact with their audience in a friendly way and create a good gesture for the whole society at large. Firms should be open to answering any complaint forwarded to them by the audience in an honest way so as to satisfy the interests o ...
DiscussionChoose a problem or issue that you would like to resolDustiBuckner14
Discussion
Choose a problem or issue that you would like to resolve. Of course, only share what you are comfortable sharing. Address the following items about your problem or issue:
1. Describe a problem/issue.
2. As a solution-focused therapist treating a client with this same issue, describe what techniques you would use.
3. Describe possible goals for this client.
4. Describe possible interventions for this client.
5. Identify the possible outcome with this client.
Please include in your answer some of the following "solution-focused therapy" terminology: alternative story, coauthoring a new story, deconstruction, dominant story, exception questions, externalizing conversations, miracle question, not-knowing position, problem-saturated story, re-authoring, scaling questions, storied lives, problem talk, change talk, narrative letters.
MARKETING MIX 1
Marketing Mix: Energy Drink
Anthony Bahlman
UMG
MKTU/605
05/29/2022
MARKETING MIX 2
Marketing Mix Description
Product
The company maintains a simple product mix. The company has established different
flavors for the energy drink to ensure that they suit the customer needs and tastes. Some of the
flavors that will include cranberry, coconut, blueberry, and kiwi. Due to the growing need for
having sugar-free drinks among the millennials has led to the introduction of the sugar-free energy
drink. The energy drink will be packaged in a bottle that is white with a combination of blue color
and a sparking image to show that the drink is bursting with energy. The container will be
cylindrical with the brand name written horizontally in sparkling red color.
Pricing
The energy drink is a new product in town. Therefore, the pricing strategy that will be used
is market skimming. The company wants to ensure that the investments are recovered in the
shortest time possible before there are more imitations and the rise in the price competition. Thus,
enforcing the brand position as a unique healthy product will require the prices of the new product
to stay higher than the competitors (Rajavi et al., 2019). The price will however, be set at a
reasonable level and be realistic to ensure it adds value to the consumers. The company will also
use special pricing methods and tactics to ensure it stimulates purchases. The use of discounts for
bulk purchases is meant to enhance purchases in high quantities. The company will also use
discrimination tactics to ensure the prices are lower for some customer segments such as the
students in colleges, sports centers, bars, and restaurants.
Promotion
The company will use push promotional strategies to ensure the energy drink reaches a
greater market. This is a strategy that ensures that the company takes the products to the
MARKETING MIX 3
consumers. The goal of this strategy is to ensure the products are taken directly to the consumers.
The company will thus work with contracting different wholesalers and retai ...
E- Marketing Strategies
A marketing strategy refers to a business' overall game plan for reaching prospective consumers and turning them into customers of the products or services the business provides.
Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered on the key concept that customer satisfaction is the main goal. Fulfillment of wants of the prospects is one the important goals of marketing activities.
Marketing principles have been changing through decades, being influenced by different
environmental factors and advanced technologies. Even how we define marketing is changing, and what we
expect from successful marketing campaign is also changing. The latest definition of marketing is; it is an
exchange process, where needs and wants are satisfied, competing for the purchasing power of consumers
(Brunswick, April 2014)
Running Head MARKETING COMMUNICATION AND BRAND STRATEGY .docxcowinhelen
Running Head: MARKETING COMMUNICATION AND BRAND STRATEGY 1
MARKETING COMMUNICATION AND BRAND STRATEGY 5
MARKETING COMMUNICATION AND BRAND STRATEGY
Regina Snedecor
MKT/571 Marketing Management
April 15, 2017
Heidi Kelley
Marketing Communication and Brand Strategy
Branding in business is the process by which goods or commodities of a company given names that can easily identify in the market. Branding is an essential thing when it comes to business; this is an active brand has a guaranteed long life; this is because will shift from the commodity itself but settle on the name. Various things attributed to a powerful brand that will ensure that the company will be able to have a product that will sell itself just by the mention of the name. This paper will come up with an efficient manner or rather strategy of setting a brand. Marketing communication, on the other hand, is defined as the plan established by the company so that it can be able to reach its desired customers. The company will have to pick as accurate communication that will help them achieve the market communication plan.
In coming up with a proper marketing plan it is fundamentally based on the objectives of the company, and there are the essential 4ps that are not to be forgotten, they are a place, promotion, price, and product. Situational analysis is used by managers in a collection of data to be able to analyze the internal and external environment to understand the capabilities of the customers and the business climate. The following are the situational analysis when coming up with a brand operational requirement to pick and analyze to be able to understand the dynamics of the environment and the expectations of the clients (Donthu, 2000).
Vision, mission, strategic objectives.
For any successful brand, the needs of the client ought to come first this is because they are the people in whom the business intends to consume the product. Therefore, the vision of any successful brand should be towards customer satisfaction and meet their needs. The objectives of a business are what firstly dictates its survival in the firm. The values and strategic goals of any business should be carried out with the thought of the client this will assist in fulfilling the desires of the customers and coming up with an effective brand.
Strength/weaknesses
For a successful brand to build a SWOT analysis should be conducted, this will be able to identify the place in which the business holds in the market. When strengths identified, the business will be able to capitalize on the power; this will be able to overshadow the weaknesses that identified when the company settled. For instance, a brand that is being set up in the clothing industry, if they had a strength of making clothes with better fabrics compared to their competitors and their weakness is that it would likely face a shortage of supply. The business n ...
Marketing plays a vital role in organizations by guiding the direction of the company and helping to develop products and services. Marketing can help shape products through analyzing customer needs, developing target markets, and introducing new offerings. Marketing also helps determine appropriate pricing by considering factors like operating costs, competition, and perceptions of value. Additionally, marketing ensures promotional strategies are customized and effective across different channels. Marketing provides direction on distribution by evaluating the best ways to reach customers through various participants. Overall, marketing's contributions span all aspects of the marketing mix and allow organizations to make informed strategic decisions.
This chapter discusses integrated marketing communications and promotion planning. It defines key concepts like advertising, public relations, personal selling and sales promotion. It explains that an integrated marketing communications approach coordinates these different promotion tools for maximum impact. The chapter also covers promotion objectives and models, budgeting, legal issues and criticisms of promotion activities.
1. This document provides an introduction to marketing and outlines key concepts such as defining a market, defining marketing, and understanding the consumer buying process.
2. The consumer buying process has 4 stages: identifying a problem or need, searching for information, assessing options, and making a purchase.
3. Marketing is important for small businesses as it helps develop products customers want, provides customer information, creates competitive pressures, and builds customer demand.
The document discusses various marketing concepts including:
1. Marketing is a form of communication with customers using tools like advertising, promotion, and product design. Selling focuses on short-term goals like market share while marketing considers long-term brand building.
2. The 4Ps of marketing are product, price, place, and promotion. Product positioning involves communicating a product's value relative to competitors. Market segmentation divides broad markets into subsets with common needs.
3. Other concepts covered are USP, CRM, brand equity, the product lifecycle, competitive advantage, and the roles of a marketing manager.
Module2 puno geneblazo_targa_lopez_oblena_mostolesALEXISPUNO
The document discusses key concepts in marketing including:
- Marketing is the process of creating, communicating, delivering, and exchanging offerings of value for customers.
- The four Ps of marketing are product, price, place, and promotion which make up a company's marketing mix.
- Market research involves determining the viability of new products or services directly with potential customers.
- A marketing culture means employees are involved in marketing the brand and empowered as brand ambassadors.
Integrated marketing communication refers to integrating all methods of brand promotion to promote a product or service among target customers. This includes advertising, sales promotion, direct marketing, personal selling, public relations, and other communication tools. The goal is for all aspects of marketing communication to work together harmoniously for increased sales and maximum cost effectiveness. Creating a successful integrated marketing communication plan requires thorough research, clear objectives, understanding target audiences, monitoring competitors, evaluating results, and ensuring cooperation across departments.
The document provides information about marketing, marketing strategy, and the marketing mix. It discusses key concepts in marketing including the marketing concept, relationship marketing, and the 4Ps of the marketing mix: product, price, place, and promotion. It also discusses marketing strategy, explaining it as a process to concentrate resources on optimal opportunities to increase sales and achieve competitive advantage. The marketing mix and external/internal environmental scans are important parts of developing a marketing strategy. The document then focuses on describing each element of the traditional 4Ps marketing mix model: product, price, place, and promotion.
mbm_6109_cat_one[1] CAT 1.docx Submitted for review CAT 1ahimbisibwelamed
The marketing environment for industrial markets differs from consumer markets in several key ways:
1. The interface level involves key participants like input suppliers, distributors, facilitators, and competitors that directly interact with industrial firms in facilitating production, distribution, and purchases.
2. The publics level includes financial publics, the independent press, public interest groups, the general public, and internal publics that can help or hinder industrial firms' goals.
3. Strategic planning for industrial markets must consider the unique dynamics of the interface level and influence of various publics, unlike strategic planning for consumer markets which focuses more on individual consumers.
This document provides information about marketing and public relations functions. It discusses topics such as market research, market analysis, marketing strategy, advertising, brand promotion, managing messages, positive publicity, spin, damage limitation, and lobbying.
For market research, it explains primary and secondary research methods like focus groups, interviews, and online questionnaires. It notes the importance of market research for understanding customer needs and maintaining competitiveness.
Market analysis involves analyzing strengths, weaknesses, opportunities, and threats from collected market research data. The goal is to determine a market's attractiveness now and in the future. Organizations evaluate evolving opportunities and threats relative to their own strengths and weaknesses.
1) Marketing involves creating, communicating, delivering, and exchanging offerings that have value for customers. There are various types of marketing such as influencer marketing, relationship marketing, viral marketing, green marketing, and keyword marketing.
2) Marketing management involves conducting consumer research, determining product and distribution policies, and making promotional decisions. The marketing management process includes conducting market research, developing a marketing strategy and marketing plan, and providing feedback and control.
3) The marketing mix, also known as the 4Ps, refers to the set of controllable tactical marketing tools - product, price, place, and promotion. It is the crux of marketing and must be constantly reviewed and adapted to changes in the external environment.
This document discusses sales and marketing strategies for small and medium enterprises (SMEs). It covers key topics such as defining marketing strategy using the 4Ps framework (product, price, place, promotion). The relationship between sales and marketing is explored, noting they are complementary functions. An effective marketing strategy is needed to generate prospects and leads for salespeople to follow up on. The document also discusses developing a marketing plan, targeting specific customer segments, and using various promotional methods appropriate for SMEs. Overall it provides an overview of essential sales and marketing concepts and considerations for SMEs.
The marketing mix, also known as the four Ps, refers to the set of controllable tactical marketing tools that a company uses to produce a desired response from its target market. The four Ps include:
1) Product - The goods and services a company offers to the market. It is important to understand customer needs and how the product is differentiated from competitors.
2) Price - The amount customers pay for the product. Pricing must consider costs, perceived value, and competitors. Both too high and too low a price can negatively impact sales.
3) Promotion - Communications to raise awareness and influence customer purchasing decisions. This includes advertising, public relations, social media, and word-of-mouth
The document provides an overview of key marketing concepts including the meaning and definitions of marketing, marketing mix, marketing strategies, and customer service. It defines marketing as identifying and satisfying customer needs through the marketing mix of product, price, place, and promotion. The marketing mix and strategies such as pricing, promotion, and distribution strategies are also summarized. The document also discusses marketing philosophies, marketing information systems including marketing research and competitive analysis, and the importance of customer satisfaction.
This document provides an overview of a 5-week online course on digital marketing. The course covers topics such as marketing communications, developing a marketing strategy, digital marketing channels/metrics, social media marketing, search engine optimization, and search engine marketing. It discusses key concepts for each topic at a high level, including the POEM model for digital channels, stages of the marketing funnel, popular social media platforms, SEO best practices, and audience targeting for SEM. The document is intended to introduce students to the main components and learnings that will be covered throughout the course.
Rewiring marketing: a practice based approachBrowne & Mohan
Many marketing managers are not aware if they are leveraging marketing efforts correctly or getting the returns that they anticipated. Often people believe transforming marketing is all about creating some digital assets. Marketing transformation is not piece meal improvement. The primary purpose of a marketing transformation is to increase the ROI of marketing your company. In this white paper, Browne & Mohan consultants share a practice based approach to marketing transformation.
Performance Driven Marketing Assignment 2 : Critical Essay On Digital MarketingChetan Pandharinath Padme
1. The document discusses the proposition that digital marketing has replaced traditional marketing in strategy development. It provides examples of companies like Airbnb, Netflix, and Walmart that have incorporated digital marketing strategies like SEO, digital content, and e-commerce websites.
2. Traditional marketing methods include advertising through print, TV, radio, and referral networks. Companies like Tupperware and Sulzer Chemtech have used traditional marketing but are now incorporating more digital strategies.
3. While some companies are fully digital, others take a hybrid approach, balancing traditional and digital marketing. The changing media habits of consumers have pushed many organizations to adopt digital strategies as a key part of their overall marketing development.
The document discusses various marketing concepts including the marketing mix, the 4 Ps of marketing (product, price, place, promotion), relationship marketing, social marketing, customer relationship management, consumer buying behavior, industrial buying processes, and target marketing. It provides definitions and explanations of these key marketing terms and concepts across multiple sections and paragraphs.
The document discusses key aspects of developing an effective marketing plan and launching a new venture successfully. It covers the characteristics of a marketing plan including having clear objectives, target market analysis, and promotional strategies. The importance of the marketing mix and management team are explored. Regarding legal forms for new ventures, it outlines sole proprietorships, partnerships, limited liability companies, and corporations as common structure options. Tips provided include building a strong management team through role definition, collaboration, and developing a positive work environment.
The document discusses various marketing concepts and philosophies. It defines marketing according to several experts and outlines 6 major marketing concepts: production, product, selling, marketing, societal marketing, and holistic marketing. It also discusses the fundamental principles of the marketing concept, emerging challenges in marketing, and key tasks of marketing management.
This document provides an overview of marketing concepts and orientations. It discusses the evolution from a production concept to a marketing concept. The marketing concept focuses on understanding customer needs and wants to develop products and services, while the sales concept focuses more on selling existing products. It also introduces the societal marketing concept of considering social impacts. The document examines what can be marketed, including goods, services, ideas, and organizations. Finally, it discusses newer concepts like holistic marketing which takes a broader view of stakeholders.
360 Degree Marketing: How to benefit from online and offline marketing commun...Browne & Mohan
With advent of online and mobile platforms, marketing managers now have both offline and online marketing assets to increase their brand reach and customer engagement. However, many companies do not plan and execute a marketing strategy that meshes assets available on different media. Moreover, companies do not use an extensive embellished strategy to keep in continuous touch with customers. In this white paper, Browne & Mohan consultants show how to integrate offline and online marketing assets systematically and build a strong extensive content strategy to develop from low cost low information intensive assets to costly high information intensive assets.
One aspect of epidemiology is the study of the epidemic, endemic, an.docxIlonaThornburg83
One aspect of epidemiology is the study of the epidemic, endemic, and pandemic occurrence of disease(s).
Some critics may argue diseases and conditions such as bird flu are endemic in many countries, and some may argue human immunodeficiency virus (HIV) or AIDS is a series of epidemics.
Using the South University Online Library or the Internet, research about the various epidemic, endemic, and pandemic occurrence of disease(s).
Based on your research and understanding, answer the following questions:
At what point does a disease become an epidemic, endemic, or pandemic? What are the parameters that define each of these states of a disease's effect?
Do you agree that bird flu, HIV, or AIDS could be described as a series of epidemics? Why or why not?
Should we study epidemiology and disease control as a complement to the provision of healthcare services? Why or why not?
Disease control has evolved since the discoveries and achievements of these epidemiological pioneers
—
Hippocrates, John Snow, Pasteur, and Koch. Explain the impact of at least one major historical contribution on the current status of epidemiological practices. How can history potentially shape and impact our future work in public health and clinical medicine? Explain.
.
Once you click the Assignment icon above, you will find links to Qui.docxIlonaThornburg83
Once you click the Assignment icon above, you will find links to Quiz 4, provided in two formats, a Word document and a PDF. You may type your work into the Word document, either using an equation editor or plain-text formatting, or you may write your work by hand and scan it.
Please remember to show all work following standard mathematical practice:
1) Each step should show the COMPLETE expression or equation, not just a piece of it.
2) Each new step should follow logically from the step above it, following rules of algebra.
3) Each new step should be beneath the previous step.
4) The equal sign, =, should only connect equal numbers or expressions.
due tonight - need by 8pm
.
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One aspect of epidemiology is the study of the epidemic, endemic, and pandemic occurrence of disease(s).
Some critics may argue diseases and conditions such as bird flu are endemic in many countries, and some may argue human immunodeficiency virus (HIV) or AIDS is a series of epidemics.
Using the South University Online Library or the Internet, research about the various epidemic, endemic, and pandemic occurrence of disease(s).
Based on your research and understanding, answer the following questions:
At what point does a disease become an epidemic, endemic, or pandemic? What are the parameters that define each of these states of a disease's effect?
Do you agree that bird flu, HIV, or AIDS could be described as a series of epidemics? Why or why not?
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—
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Please remember to show all work following standard mathematical practice:
1) Each step should show the COMPLETE expression or equation, not just a piece of it.
2) Each new step should follow logically from the step above it, following rules of algebra.
3) Each new step should be beneath the previous step.
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due tonight - need by 8pm
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one day when you woke up you saw doreman in you room .
he has a time machine, by using the time machine you tranported your self to the STONE AGE.
There you met some caveman you managed to speak to them as they spoke english:
write the conversation you had with them in english
please include the following in your conversation.
mention you question and the answers given by the caveman in bubbles:
1. the type of houses they lived in?( stoneage)
2. the natural vegetation they had ?
3. the type of tools they used ?
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Based on the scenario, your readings and research, respond to the following:
How could Brandi’s behavior be explained using differential association theory?
How could Brandi’s behavior be explained using social learning theory?
What are the strengths and limitations of these two theories as applied to this example?
Be sure to support your responses using the selected resources.
Write your initial response in 4–6 paragraphs. Apply APA standards to citation of sources.
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As a newly trained Epidemic Intelligence Service (EIS) officer, you are asked to develop a project to detect and control an outbreak of an infectious disease.
Identify an infectious disease that can be detected and controlled through screening. Describe how screening influences and enhances outbreak detection as well as control and prevention. Discuss how and where you would implement a screening initiative and who would be the core or target population.
Justify your response using examples and reasoning. Comment on the postings of at least two classmates, explaining whether you agree or disagree with their views.
Evaluation Criteria
:
Provided one example of an infectious disease.
Described how screening is used for the detection and control of outbreaks.
Discussed how and where a screening initiative would be implemented and who would be the core population.
Justified answers with appropriate research and reasoning by using examples and references from textbooks, the South University Online Library, and other acceptable references, citing the sources in APA format.
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What role did the city of Alexandria play in the ancient world?
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Required:
Using the SEC staff report issued in July 2012, take a position and then argue and support for your manager at least three reasons why you
believe,
or
do not believe,
that the SEC is correct in its position to delay convergence.
Your well-written paper must be 2-3 pages, in addition to title and reference pages. Cite at least two peer-reviewed sources, in addition to the required reading for the module.
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“On Dumpster Diving” by Lars Eighner (
50 Essays
, p. 139-151)
Due Date: Tuesday, October 18
1.
Eighner begins the essay by explaining where the term “Dumpster” originated. Why do you think he begins this way?
2.
What is Eighner’s opinion of college students? Why is scavenging around a college campus so effective for him?
3.
Define the following vocabulary words from the essay. Use each word in a sentence of your own. Briefly explain why the author of the essay chose to use these words.
a.
Scrounging (139)
i.
Definition:
ii.
Part of Speech:
iii.
Sentence:
iv.
Why does the author use this word?
b.
Sinecure (150)
i.
Definition:
ii.
Part of Speech:
iii.
Sentence:
iv.
Why does the author use this word?
4.
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Ok so I know this is extreme short notice but I have a final 6 page paper due tomorrow, it has to be on a major literary author before 1965, I was going to do Ernest Hemingway. First 2-3 pages include introduction, short biography some of the authors influences/who they influences, cultural & historical context (period of influence such as war), themes in major works, specific theme and plot summary of one major work written by this author. Last pages are to discuss four elements of fiction (literary analysis) Use 4 passages throughout this and then the conclusion. In MLA format.
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"Offenses and Punishment." Please respond to the following:
Explain with examples how the Eighth Amendment restricts the government’s authority to make something a crime.
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Omit all general journal entry
explanations.
Be sure to include correct dollar signs, underlines and double underlines.
Question 1 (15 points) Statement of Cash Flows
The following is selected information from Murphy Company for the fiscal years ended December 31, 2015: Murphy Company had net income of $500,000. Depreciation was $50,000, purchases of plant assets were $ 250,000, and disposals of plant assets for $500,000 resulted in a $20,000 gain. Stock was issued in exchange for an outstanding note payable of $925,000. Accounts receivable decreased by $25,000. Accounts payable decreased by $10,000. Dividends of $200,000 were paid to shareholders. Murphy Company had interest expense of $5,000. Cash balance on January 1, 2015 was $250,000.
Requirements:Prepare Murphy Company's statement of cash flows for the year ended December 31, 2015 using the indirect method.
Hint (recall the 3 sections)
Question 2 (10 points)
On January 1, 2015, Baker Company purchased 10,000 shares of the stock of Murphy,
and did obtain significant influence
. The investment is intended as a long-term investment. The stock was purchased for $70,000, and represents a 25% ownership stake. Murphy made $20,000 of net income in 2015, and paid dividends of $10,000. The price of Murphy's stock increased from $20 per share at the beginning of the year, to $22 per share at the end of the year.
Requirements:
a.
Prepare the January 1 and December 31 general journal entries for Baker Company.
b.
How much should the Baker Company report on the balance sheet for the investment in Murphy at the end of 2015?
Question 3 (20 Points)
On December 31, 2016, Murphy Inc. had the following balances (all balances are normal):
Accounts
Amount
Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares authorized, 10,000 shares issued and outstanding)
$1,000,000
Common Stock ($10 par value, 200,000 shares authorized, 100,000 shares issued and outstanding)
$1,000,000
Paid-in Capital in Excess of par, Common
150,000
Retained Earnings
700,000
The following events occurred during 2016 and were not recorded:
a.
On January 1, Murphy declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share. Stock dividends were distributed on January 31 to shareholders as of January 25.
b.
On February 15, Murphy re-acquired 1,000 shares of common stock for $20 each.
c.
On March 31, Murphy reissued 250 shares of treasury stock for $25 each.
d.
On July 1, Murphy reissued 500 shares of treasury stock for $16 each.
e.
On October 1, Murphy declared full year dividends for preferred stock and $1.50 cash dividends for outstanding shares and paid shareholders on October 15.
f.
On December 15, Murphy split common stock 2 shares for 1.
g.
Net Income for 2016 was $275,000.
Requirements:
a.
Prepare journal entries for the transactions listed above.
b.
Prepare a Stockholders' section of a classified balance sheet as of December 31, 2016.
Question 4 (14 poi.
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Offer an alternative explanation for how these patterns of criminal activity and violence affected constitutional law and political freedom.
Having effectively established an early version of
Parlament
, the Anglo-Saxons created a "warlike" system founded on family bonds,
aggricultral
success, acquisition of funds and property, and control through legal means. (Roth, 2005) Crime was a serious matter as this could effect an individual's financial status/land holdings, family and personal reputation, and life. As each
kindship
/kingdom had their own laws; however, your "value" as a human would determine
werdild
(blood price) and options for punishments. (BBC, 2016) Blood
fueds
and vengeance based retaliations occurred. There were no police forces; however, there were "
tithings
" (groups of 10 to 12 men) who were responsible for each other and held accountable for each other's actions. (Roth, 2005) Therefore, if you were accused of
theift
, you and your tithing would appear before a community jury to hear a sentence of death or a fine; however, should you not appear you would then be stripped of your humanity/value and executed. (Roth, 2005)
If the Saxons were known for their death penalty, then the Norman's were known for verdicts of mutilation and forming the class system. (Roth, 2005) Unlike the Saxons, the Norman's legal system did establish a police system that was loyal to the monarch instead of the community or
kinship
. (Roth, 2005) Taking the power away from communities and families to uphold and
despence
the law,
constables
handed everything from "tax collection, arresting
malfectors
, transporting prisoners, and serving legal papers" to maintaining curfew and monarch regulations. (Roth, 2005) Instead of having to survive an ordeal, a
theft
would have to battle to prove his/her innocence or appoint someone to battle for them if the defendant was a woman, child, elderly, or ill individual. (Roth, 2005) If a woman stole an apple, her brother might have to battle the shop keepers.
However, the two systems were vastly different. In the Anglo-Saxon world, the kingdoms experienced more personal and kingdom based freedoms. Even though the death penalty was widely utilized, no positions existed that would be seeking out infractions or looking to punish someone (like a constable). A thief might loose his family and personal honor, face the wrath of his tithing, or have to endure his victim's family claiming their blood price. However, value and worth were placed on family honor, deeds, and contributions to the community. In the United States, this is similar to what we experienced before the civil war. The states had more power than the federal government over their laws and regulations; however, like the Saxons, there were major
inconsistencies
among states regarding policies, sentences for crimes, and even social attitudes towards certain crimes. The Anti Federalist movement in the United States is founded o.
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.
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Of all the GNR technologies (genetic engineering, nanotechnology and robotics), nanotechnology has the greatest potential for the destruction of our planet or even our solar system.
Do you agree with Ray Kurzweil that it is possible for society to enjoy the benefits of twenty-first century GNR technologies while mitigating and controlling the risks?
Why or Why Not?
attachments are the reading resources. should around 600 words.
.
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Of the five management functions, which do you expect will experience the most dramatic changes in the next decade? Defend your answer. Which will have the least amount of change? Explain your answer. Respond substantively to two other learners.
Guided Response:
Your initial post should be at least 200 words in length. Support your claims with examples from required material(s) and/or other scholarly resources, and properly cite any references. Respond substantively to at least two of your classmates' posts.
The
five
functions
of
management—planning,
organizing,
staffing,
leading,
and
controlling-
have
many
close
linkages.
Planning
is
part
of
every
other
management
function.
Creating
and
maintaining
an
organization's
design
requires
planning.
One
of
the
first
steps
in
staffing
is
human
resource
planning.
Leading
requires
planning.
Leaders
rely
on
motivational
programs
that
are
planned
in
advance.
Teams
and
groups
use
plans
to
direct
activities.
Communication
systems
and
all
the
new
iterations
of
those
systems
necessitate
careful
planning
to
spot
new
trends
and
to
implement
changes
in
technologies.
Planning
is
the
basis
of
control
through
the
use
of
standards.
The
organizing
function
shares
similar
bonds
with
other
management
functions.
The
first
element
of
organizing,
job
design,
is
shared
with
the
staffing
function.
Job
specifications
established
in
the
job
design
aspect
of
organizing
are
used
to
recruit
and
select
employees.
Employees
who
fit
are
able
to
work
well
in
company-prescribed
teams
and
groups
and
to
communicate
effectively
within
the
system.
Staffing
shares
the
human
element
with
leading.
Staffing
involves
choosing
the
right
people.
Leading
includes
enticing
the
highest
levels
of
performance
from
those
people.
Controlling
has
one
element
in
common
with
staffing.
Both
are
involved
in
the
performance
appraisal
process
for
individual
employees.
Standards
link
controlling
and
planning.
Further,
controlling
begins
the
process
of
creating
the
next
set
of
plans.
.
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Of the numerous forms of communication technologies presented in this course, predict the first form of technology to be phased out by a newer and improved technology. Explain the limitations of this technology and the reason for its speculated obsolesce.
Speculate the technology that will replace the previously mentioned technology above. Describe the features, capabilities, or basic advantages this technology will have over its predecessor.
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MKT574 WK1 Assignment Concepts and Applications WorksheetWorks
1. MKT/574 WK1 Assignment: Concepts and Applications
Worksheet
Worksheet
Name:
Question
Answer
Application
Citation
What is marketing?
Marketing is a process through which an organization engages
the target market to build strong relationships and, in return, get
sales.
It involves the promotion and selling of products or services
and will involve much research and then advertising.
The marketing department in the company implements this.
Several strategies can be applied: social media marketing, email
marketing, conversational marketing, TV advertising, and direct
selling.
(Blythe & Martin, 2019)
What are common misconceptions of marketing?
Marketing misconceptions are wrong thoughts that people have
about how to approach marketing. The following are some
examples:
1. Small businesses do not need marketing-this misconception
leads many small businesses to fail.
2. The marketing plan only involves advertising-this is not true
because marketing plans do not only use the traditional
advertising strategies today.
3. A business does not need to market to existing customers-this
is a severe misconception because keeping customers involves
keeping them engaged or through.
Having marketing misconceptions costs the business because it
2. fails to fully take advantage of marketing strategies that can
help to bring in more customers and keep the loyalty of the
existing customers.
An example will be a scenario where the business fails to
advertise because it feels that it has enough customers.
(Pride & Ferrell, 2021)
What role do value and exchange play in marketing?
Value is the difference between what the customer perceives to
be the product's benefit and the product's cost compared with
other products. It plays a critical role in determining the worth
of the product being provided in the market.
Exchange is what happens when people trade products or
services. The role of the exchange is to provide utility which
means that the product the company is selling should be less in
value than the benefits.
Value and exchange result in profit for the business.
Value and exchange provide a means for a company to
determine the best marketing strategies and set the correct
prices. The goal is to ensure that the company can gain profits
throughout the whole process.
(Wood, 2016)
What is the marketing mix? [Hint: 4Ps]
The marketing mix can be considered the tactics that any
business uses to promote its product(s) or service(s) in the
market.
It is centered around the 4P's: price, place and promotion of the
product or service. These 4P's interact significantly with each
other and, they are usually limited in different ways by both
internal and external issues.
The marketing mix is necessary to help companies identify what
the customers want, how the product or service they are
producing meets that need, how it is perceived in the market,
and the competitive advantage compared to competitors.
The marketing mix is a marketing tool that determines the
specific aspects that will have to be considered in promoting a
3. product and the brand's growth.
It is, therefore, a critical part of decision-making and
strategizing in the marketing department.
(Blythe & Martin, 2019)
What are two trends impacting the future of marketing, and how
might they impact your organization?
1. Social media marketing-this trend has quickly become an
essential part of the marketing discipline, and it continues to
grow stronger into the future. More people are using social
channels and social media platforms today, and therefore,
marketing has to focus on that.
2. Mobile devices- these devices, including smartphones,
tablets, and different kinds of wearable gadgets, are
revolutionizing how companies are marketing. They are
providing a way for companies to create personalized
relationships with their customers.
An application of social media marketing strategies will allow
the organization to grow by reaching out to more customers.
Focusing on social media channels is a critical strategy.
At the same time, marketing messages should focus on
personalized relationships with the target customers by using
advertisements that fit on mobile devices. One of the main
principles is transparency because it will dictate the relationship
that customers have with the brand.
(Pride & Ferrell, 2021)
Identify four activities in the Marketing Communications mix
1. Advertising-it involves informing customers about products
or services. For example, through TV.
2. Sales and promotion-these include incentives to persuade
customers to try out products or services. Examples include
giving discounts and paybacks.
3. Personal selling-this is a direct approach where the
salesperson explains a product or service to a specific customer
or group of customers. It can be done through email or face-to-
face.
4. Public relations-this impacts the way that customers speak
4. about the brand. It is an essential influence on perception.
The use of specific advertising strategies that apply to the
company products is necessary.
The sales and promotion strategies should involve giving valid
rebates and discounts. The use of promotional products also
helps to create loyalty.
The company can apply personal selling by hiring different
salespeople and focusing on email marketing.
Social media channels can help to improve the public perception
that customers have about the company.
(Blythe & Martin, 2019)
What is a value proposition?
This refers to the value that the business promises to give the
customers if they purchase the product or service.
When properly applied, value proposition helps to increase the
understanding that engagement of the customer. The customer
can see what the business is going to give them.
(Wood, 2016)
What role should ethics play in defining your value proposition?
In creating the value proposition, ethics ensures that a company
correctly evaluates the value that its product or service will give
the customer. Ethics dictate that the value proposition has to be
honest and transparent.
Being honest and transparent in creating the value proposition
means that the customer will build trust because they can get
what the company promises them.
This understanding is critical in determining if the customer
will purchase the product or service or not.
(Blythe & Martin, 2019)
What is the value chain?
The value chain takes a product from the development of the
idea/concept to the distribution.
It involves multiple stages, including research and development,
production and eventually, sales.
Every stage from the procuring of materials to marketing adds
value to the product and eventually determines the pricing.
5. Understanding the value chain ensures production efficiency to
provide the highest level of value from the product at the lowest
possible cost.
This will involve determining which marketing strategy can
provide the highest value at the lowest marketing expense.
(Pride & Ferrell, 2021)
What is marketing planning?
This is a process of determining which advertising and
marketing strategies the company will use to sell the product or
service.
It is a systematic process for developing the goals, strategies
and tactics for the implementation of the marketing methods.
In practice, the marketing plan will involve looking at the
product, determining which marketing strategy the company
will use, and coordinating all the activities to achieve the
marketing objectives.
(Wood, 2016)
What are the elements of a marketing plan?
There are several critical elements of the marketing plan.
1. Market research-it involves identifying the buying habits of
the consumers, the size of the market, the growth or decline and
even the trends.
2. The target market-it involves defining who the target
customers are.
3. Positioning- involves creating the correct perception of the
product. Developing compelling marketing messages that
communicate the correct perception is necessary.
4. Competitive analysis-this provides an understanding of who
the competitors are and how different the products they offer
are.
5. Market strategy-this involves the identification of which
strategies will be used. Examples include social media and
direct mail.
6. Budget-it involves defining how much the business is willing
to spend on marketing.
7. Metrics-it involves measuring the performance of the
6. implemented marketing methods.
A practical implementation of the marketing plan will make
sure that the sales pipeline will always be full.
This means that the company will continuously be able to sell
its products to customers.
It will also increase the market share.
The marketing department in the organization is responsible for
creating an effective marketing plan.
(Wood, 2016)
References
Blythe, J., & Martin, J. (2019). Essentials of marketing. Pearson
UK.
Pride, W. M., & Ferrell, O. C. (2021). Foundations of
marketing. Cengage Learning.
Wood, M. B. (2016). The marketing plan handbook (p. 224).
Pearson.
MKT574 WK1 Strategic Marketing Concepts Worksheet bdphd
AUG21
MKT/574 v1
Strategic Marketing Plan
MKT/574 v1
Page 2 of 2
Strategic Marketing PlanPart 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
7. 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
industriesSocial 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
8. 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
9. 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.
10. 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: retail store analytics
Dollar value of sales by quarter by major product categories
Total sales of major players
Market Share Analysis
Seasonal patterns
11. Primary Data
Evaluate primary data needs to create and evaluate the
marketing plan. Insert or remove rows as needed.
Source
What it Measures
Data
Potential Usage
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
12. Customer Relationship Management
Establish customer touchpoints and develop appropriate CRM
events for customer acquisition, retention, and profitability.
Insert or remove rows as needed.
CRM Touchpoint
Purpose & CRM Objective
Data
Potential Data Usage
Example: Customer profile information on website
Starts the account for visitors: name, geography, email address
(Customer acquisition)
13. 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, Imple mentation,
and Monitoring
(Due in Wk 6)
New Target Markets
14. 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.
· 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
15. 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
16. 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
17. 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.