Strategic Marketing Plan 1
Elisha Sonson
American Intercontinental University
Strategic Marketing Plan:
Support Solutions
MKT640 – A Managerial Approach to Marketing
October 28, 2012
Strategic Marketing Plan 2
Abstract
The process of launching new products from conception to commercialization encompasses a
series of intricate steps and processes. The highlight of this paper presents a framework of a new
product launch ‘Support Solutions’ as well as the series of processes involved in effectively
launching this product. An overview of the series of processes to include, the product objective,
targeted market, competitors, product features, the marketing mix, pricing and channels of
distribution are also discussed in this paper.
Strategic Marketing Plan 3
Strategic Marketing Plan:
Type Name of your Product/Service Here
Introduction
Launching a new product can be a thrilling experiencing for any business. However, the
uncertainty on the whole process and financial expense can pose numerous challenges for the
business. Regardless of the challenges involved, researches have communicated the importance
of utilizing formal techniques to initiate and execute the efforts, and timing of all steps of the
new product development.
Mission Statement
The mission of support Solutions is to deliver a line of exclusive products that provides
the highest level of function to people with mobility deficits.
Objectives
At Support Solutions our specific and measurable objective is to expand customers
purchasing rate by 20% within a one-year period. Reduce expense and maintain cost within 30%
of revenue, while providing valued service to a large consumer base in a time-specified manner.
Our goal is to build and achieve client database of at minimum 200.000 households within the
one-year period. Our goal is to attain 80% consumer awareness relevant to our products targeted
regions.
Customer Targets
The first step in the development stage of ‘Support Solutions,’ is to establish a targeted
market. The targeted audiences for ‘Support Solutions,’ are for users with disabilities and
collectors who want to add a unique feature to their collection. The target demographics are male
and female of all age groups who have a need for mobility assistive canes and collectors alike.
Strategic Marketing Plan 4
The US Census Bureau's American Fact Finder listed a demographic of males under 18-years with
disability difficulty at 1,847,371, males 18-64 at 9,774,722 and males 64-years and over at
6,148,134. On the other hand, females under 18-years of age stands at 36,053,978, 18-64 years at
98,298,244 and those 65 and over at 8,510,740. The US Census Bureau (2011) data shows a one-
year estimation of a noninstitutionalized population from an American community survey. It is
clear that there is a large population that would benefit from this product.
Competitor Targets
Analyzing current and prospective competitors is important as it forms basis to enhance the
business and focus on the features that makes the new product development unique. The
competition for “Support Solutions,’ are mainly direct contenders. They are the businesses that
current customers choose to make their purchase of walking canes. They are most likely to be
large capacity online vendors who sell their canes on the web. They are often the biggest players
because they market similar products that are perceived to be comparative in a vast market. The
forecasted trends are a more modern look that is customized for the buyer but the market still
embraces the conventional featured look.
Researched article have shown many collectors of walking canes and that some collectors
paying as much as $5000.00-$20,000 for a cane. According to Mansfield, (1996), walking canes
are much in demand by dealers and collectors as those who use it for mobility aid. The modern
trends are even in higher demand for buyers and collectors because of the technology features
that some offer (Mansfield, 1996).
Product/Service Features
Support Solutions features are transparent in design and its innovative shape is outlined
by a patented fluorescent rod. Support Solutions can be customized to the customers need, with
Strategic Marketing Plan 5
graphics, personalized photos and messages. The customized modern features would accent any
wardrobe. The refined construction takes this innovative line of canes beyond a walk in the park.
What sets Support Solutions apart from the rest is that it is a well-researched mobility aid that
challenges any user preceding belief.
Core Strategy
• Support Solutions will be manufactured in an array of translucent colors and
supportive wider base. Our product will be seen with other top selling brands
competing for the best market, grounded on our mission of producing exclusive
products that provides the highest level of function to people with mobility
deficits.
• Central demographic young children and adults (15-years and older)
Branding
• Vibrant, on a rich fluorescent rod, broad base, projecting Support Solutions logo
inscribed in Calligraphy font, personalized phrases or messages.
Product Positioning
• Support Solution allow you to have a means of independence no matter where
you go
• What a walker does for your mobility, Support Solution does for your
independence
Advertising Output
• Magazines- health and medical magazines
• Internet- Product website, social media, web banners
• Television- channel commercials, health shows,
Strategic Marketing Plan 6
• Outdoors- Hospitals, (veterans and outreach communities, government agencies)
large displays
Marketing Mix: Communications & Promotion
The concept of Integrated Marketing Communication (IMC) is certainly not a modernistic
conception but the demand to integrate a variation of often different marketing activities has
taken on new importance throughout the years (Hartley, & Pickton, 1999). The concept of IMC
is designed to support all facets of marketing communications and ensure that the element of the
businesses marketing communicates a uniform message. The designed concept of IMC
constructs all properties of marketing communications like sales promotion, public relations,
advertising, direct marketing and personal selling to thrive together as an integrated force instead
of allowing each to work in remoteness (Hartley, & Pickton, 1999).
The IMC approach for Support Solutions would be to synchronize the marketing
communication by utilizing some of the marketing elements. The elements that would be most
effective for this product would be advertising, direct marketing and sales promotion. The
reasons for choosing these elements are that they can be integrated to reinforce the message that
is being communicated in each element and to avert conflicting communications. For example,
the marketing communication can be integrated in that a sales promotion can be launched using
direct marketing (catalogues, or wellness magazines) or advertised through various medium
(Katrandjiev, 2000).
Based on the core strategy the message that would be communicated would be to
influence the elements and qualities utilized by consumers in assessing the competitors’ products
or service. The business mission would be communicated by integrating it in a message that
would influence the attributes of the product in order to alter the perceptions of the consumer
Strategic Marketing Plan 7
from the competitors’ product. The reason for this message is that this approach would create
avenues whereby consumers are knowledgeable about the product and the product message when
they are ready to make a purchase. Communicating to the targeted market would be in the form
of the various marketing medium such as advertising. The internet would be utilized as a form of
technology to reach a larger audience in less time than other forms of media.
To measure the effective of the campaign the first step would be to integrate the
marketing communications (IMC) to make the campaign effective. The next step would be to
test new mediums to determine what is effective both at the unit level and national level. This is
an important and safer avenue because it allow for testing in specific markets before spending
money across a larger market. One of the most suitable methods for measuring advertising
and/or promotional effectiveness is to approach mediums like social website (Facebook,
Twitter). This is effective because these mediums solicit feedbacks and consumer questions.
Implementing a consistent point of sale (POS) system is another approach Dennisonon in her
research advised. This would be effective in that it records marketing results across all units
(2011).
Marketing mix: Price
Since our business mission is to deliver a line of exclusive products that provides the
highest level of function to people with mobility deficits, then we would reflect on an exclusive
pricing objective. The pricing strategies that would reflect the exclusive quality of Support
Solutions are “Competitive pricing,’ and ‘Market penetration.’ Competitive pricing is
constructed on the prices of our competitors who offer similar products. The ‘Competitive
pricing’ strategy is useful in that distinguishing our products from the competitors could be
Strategic Marketing Plan 8
challenging as with any business product and this pricing strategy would be useful in getting
over that challenge.
On the other hand, the ‘Market penetration’ pricing objective is useful in that it allows us
to gain access into a fresh market. The main objective for utilizing the ‘Market penetration’
strategy is to attract and expand the market share. Although this pricing strategy may not harvest
the desired revenue at first, when used well the end result can be successful (Winer and Dhar,
2011). For example, since there are many marketers of walking canes we would have to conduct
a market research that would show the competitors price scale. Being new to the market, we
could rule on using the ‘Market penetration’ pricing strategy to influence buyers to purchase our
product. If the competitors’ price for instance is normally sold for $ 20.00 to $ 25.00 then we
could penetrate this scale and place our product at $19.00 for the first few months. That would
influence buyers to purchase our product over the competitors thus increasing our buyer volume
(Agricultural Research and Cooperative Extension, 2007).
Analyzing these objectives both seem to offer safe avenues, however, the pricing strategy
that would best fit our marketing objective and business mission would be the ‘Market
penetration. Since Support Solutions is new to the market, the ‘Market penetration’ price
objective would allow us to enter and set a competitive price scale that would influence buyers
and increase consumer buying volume (Agricultural Research and Cooperative Extension, 2007).
Marketing Mix: Channels of Distribution
The successful reveal of new products is vital in maintaining market leadership. Rangan,
Menezes & Maier states that the distribution channel system can be managed once it is in place.
Menezes et al. confirms that the distribution channel is merely a system proposed at executing
necessary tasks but it is important to know that consumers do expect their preferred outlet system
Strategic Marketing Plan 9
to deliver a thorough bundle of outlet functions (1992). Depending on the scale of the business,
the products may appeal to a variety of markets or distribution outlets. However, launching a
new product with limited resources, it is best to choose specific channels of distribution that
proposes the least challenge to enter the market contrary to the contender (Menezes et al., 1992).
Christian, (1958) propose that the analysis of the distribution outlet must be modified to the
business objectives and any immediate issues. Christian in his research stresses that in addition
to modifying the channel of distribution it is important to acquire a checklist that covers
questions regarding the product line, which channels of distribution the competitors use to sell
their products, the major markets to include strategic purchasing influences, the selling program,
which asks questions regarding the amount of feedback desired from the distribution channel to
implement the marketing effort. Most importantly, the checklist should state questions regarding
the analysis of individual channel of distribution, which focuses on the channel of distribution
utilized by the competitor (1958).
Based on these researched evaluation, the distribution outlet for ‘Support Solutions’ would
be TV and cable, which routes directing marketing and home shopping network channels. The
reason for this distribution outlet is that it is not only a distribution channel but a more modern
way of showcasing the new product. This channel also offers much feedback and the sales
influence option would be effective in launching the new product. This would be a more
economical option and being a new product on the market, this channel of distribution would
reach a larger audience especially those with mobility impairment that prefers an at home
shopping experience.
Marketing Mix: Customer Relationship Management
Strategic Marketing Plan 10
The Consumer Relationship Management (CRM) as specified by O’Malley and Mitussis
is a powerful and influential strategy that is designed for businesses to lower cost and expands
profitability through securing consumer loyalty (2002). Kavitha and Palanivelu on the other
hand, solicit CRM as being neither a product nor service, rather an integrated business strategy
aimed at customer satisfaction (2012). This integrated strategy places the customer at the center
of business consciousness. Kavitha and Palanivelu (2012) research supports the perspective of
O’Malley and Mitussis adding that the CRM approach is a comprehensive strategy and
procedure of acquiring, preserving and affiliating with customers to create greater value for both
the business and the customer alike.
Base on this approach, integrating the CRM strategy in our plan would be effective in
achieving the goal of the business and to create a long-lasting customer relationship. The concept
of CRM would allow us to incorporate its strategies into our plan in that it’s not only important
in securing consumer business relationship it also engages internal workers, management teams
and external units, which includes advertising entities and network organizations. As customers
initiate need in our supply chain process the CRM concept would allow us to realign our
business strategy by matching the customer obligations (Acharyulu, 2012). In addition the CRM
idiom would play a huge role in our business by using information technology to assist our
business in staying up-to-date with customers concerns regarding our product and also to assist
them by initiating timely and urgent response to their concerns and issues. For example, having
the CRM system our business would be able to create a technology-based information hub about
the customer and utilize that information whenever the customer communicates a concern or
issue (Cohen, & Moore, 2012).
Strategic Marketing Plan 11
Conclusion
The process of new product development into the market involves a series of phases.
Although the preliminary phase involves many stages, much research has to be conducted to
ensure proper and effective development. This is especially important to meet the ever-changing
demands of buyers. The development and planning process should also involve meeting the
needs of the customers. By integrating idioms such as the CRM into the businesses core strategy,
management can develop the type of relationship that addresses customers concerns with
urgency while at the same time securing a long-lasting customer-to-business relationship.
Strategic Marketing Plan 12
References
Acharyulu, G. K. (2012). Leveraging Customer Relationship Management (CRM) in Corporate
Hospital Supply Chain IUP Journal of Supply Chain Management, 72-87
Agricultural Research and Cooperative Extension (2007) Understanding Price Objectives &
Strategies, Penn State College Journal of Agricultural Science, Agricultural Research &
Cooperative Extension
Christian, R. C. (1958). Industrial marketing: three-step method to better distribution channel
analysis. Journal of Marketing, 23(2), 191-192.
Cohen, S., & Moore, J. (2000) Today's Buzzword: CRM (Customer Relationship Management).
Public Management (00333611), 82(4), 10
Dennisonon, J. (2011) Maximizing Your Message Cost-Effectively Across All Mediums
Franchising World, 43(9), 53
Hartley, B., & Pickton, D. (1999) Integrated marketing communications requires a new way of
thinking, Journal of Marketing Communications, 5(2), 97-106.
doi:10.1080/135272699345699
Katrandjiev, H. I. (2000). Some Aspects of Measuring Integrated Marketing Communications
(IMC) Department of Marketing and Strategic Planning University for National and
World Economy Journal of Marketing 1(8) 87-93
Strategic Marketing Plan 13
Kavitha, K. S., & Palanivelu, P. P. (2012) Customer Satisfaction: CRM in Canara Bank. SCMS
Journal of Indian Management, 9(3), 99-108.
Mansfield, S. (1996). Dick's Sticks, Forbes, 158(12), 126-130.
O'Malley, L., & Mitussis, D. (2002) Relationships and technology: strategic implications.
Journal of Strategic Marketing, 10(3), 225-238. doi:10.1080/09652540210152521
Rangan, V., Menezes, M. J., & Maier, E. P. (1992) Channel Selection for New Industrial
Products: A Framework, Method, and Application. Journal of Marketing, 56(3), 69-82.
U.S. Census Bureau American Fact Finder (2011), Retrieved from
http://factfinder2.census.gov/faces/nav/jsf/pages/index.xhtml
Winer, R. & Dhar, R. (2011) Marketing Management (4th
, e.d). Prentice Hall

Mkt640 u4 ip_2011e.sonson

  • 1.
    Strategic Marketing Plan1 Elisha Sonson American Intercontinental University Strategic Marketing Plan: Support Solutions MKT640 – A Managerial Approach to Marketing October 28, 2012
  • 2.
    Strategic Marketing Plan2 Abstract The process of launching new products from conception to commercialization encompasses a series of intricate steps and processes. The highlight of this paper presents a framework of a new product launch ‘Support Solutions’ as well as the series of processes involved in effectively launching this product. An overview of the series of processes to include, the product objective, targeted market, competitors, product features, the marketing mix, pricing and channels of distribution are also discussed in this paper.
  • 3.
    Strategic Marketing Plan3 Strategic Marketing Plan: Type Name of your Product/Service Here Introduction Launching a new product can be a thrilling experiencing for any business. However, the uncertainty on the whole process and financial expense can pose numerous challenges for the business. Regardless of the challenges involved, researches have communicated the importance of utilizing formal techniques to initiate and execute the efforts, and timing of all steps of the new product development. Mission Statement The mission of support Solutions is to deliver a line of exclusive products that provides the highest level of function to people with mobility deficits. Objectives At Support Solutions our specific and measurable objective is to expand customers purchasing rate by 20% within a one-year period. Reduce expense and maintain cost within 30% of revenue, while providing valued service to a large consumer base in a time-specified manner. Our goal is to build and achieve client database of at minimum 200.000 households within the one-year period. Our goal is to attain 80% consumer awareness relevant to our products targeted regions. Customer Targets The first step in the development stage of ‘Support Solutions,’ is to establish a targeted market. The targeted audiences for ‘Support Solutions,’ are for users with disabilities and collectors who want to add a unique feature to their collection. The target demographics are male and female of all age groups who have a need for mobility assistive canes and collectors alike.
  • 4.
    Strategic Marketing Plan4 The US Census Bureau's American Fact Finder listed a demographic of males under 18-years with disability difficulty at 1,847,371, males 18-64 at 9,774,722 and males 64-years and over at 6,148,134. On the other hand, females under 18-years of age stands at 36,053,978, 18-64 years at 98,298,244 and those 65 and over at 8,510,740. The US Census Bureau (2011) data shows a one- year estimation of a noninstitutionalized population from an American community survey. It is clear that there is a large population that would benefit from this product. Competitor Targets Analyzing current and prospective competitors is important as it forms basis to enhance the business and focus on the features that makes the new product development unique. The competition for “Support Solutions,’ are mainly direct contenders. They are the businesses that current customers choose to make their purchase of walking canes. They are most likely to be large capacity online vendors who sell their canes on the web. They are often the biggest players because they market similar products that are perceived to be comparative in a vast market. The forecasted trends are a more modern look that is customized for the buyer but the market still embraces the conventional featured look. Researched article have shown many collectors of walking canes and that some collectors paying as much as $5000.00-$20,000 for a cane. According to Mansfield, (1996), walking canes are much in demand by dealers and collectors as those who use it for mobility aid. The modern trends are even in higher demand for buyers and collectors because of the technology features that some offer (Mansfield, 1996). Product/Service Features Support Solutions features are transparent in design and its innovative shape is outlined by a patented fluorescent rod. Support Solutions can be customized to the customers need, with
  • 5.
    Strategic Marketing Plan5 graphics, personalized photos and messages. The customized modern features would accent any wardrobe. The refined construction takes this innovative line of canes beyond a walk in the park. What sets Support Solutions apart from the rest is that it is a well-researched mobility aid that challenges any user preceding belief. Core Strategy • Support Solutions will be manufactured in an array of translucent colors and supportive wider base. Our product will be seen with other top selling brands competing for the best market, grounded on our mission of producing exclusive products that provides the highest level of function to people with mobility deficits. • Central demographic young children and adults (15-years and older) Branding • Vibrant, on a rich fluorescent rod, broad base, projecting Support Solutions logo inscribed in Calligraphy font, personalized phrases or messages. Product Positioning • Support Solution allow you to have a means of independence no matter where you go • What a walker does for your mobility, Support Solution does for your independence Advertising Output • Magazines- health and medical magazines • Internet- Product website, social media, web banners • Television- channel commercials, health shows,
  • 6.
    Strategic Marketing Plan6 • Outdoors- Hospitals, (veterans and outreach communities, government agencies) large displays Marketing Mix: Communications & Promotion The concept of Integrated Marketing Communication (IMC) is certainly not a modernistic conception but the demand to integrate a variation of often different marketing activities has taken on new importance throughout the years (Hartley, & Pickton, 1999). The concept of IMC is designed to support all facets of marketing communications and ensure that the element of the businesses marketing communicates a uniform message. The designed concept of IMC constructs all properties of marketing communications like sales promotion, public relations, advertising, direct marketing and personal selling to thrive together as an integrated force instead of allowing each to work in remoteness (Hartley, & Pickton, 1999). The IMC approach for Support Solutions would be to synchronize the marketing communication by utilizing some of the marketing elements. The elements that would be most effective for this product would be advertising, direct marketing and sales promotion. The reasons for choosing these elements are that they can be integrated to reinforce the message that is being communicated in each element and to avert conflicting communications. For example, the marketing communication can be integrated in that a sales promotion can be launched using direct marketing (catalogues, or wellness magazines) or advertised through various medium (Katrandjiev, 2000). Based on the core strategy the message that would be communicated would be to influence the elements and qualities utilized by consumers in assessing the competitors’ products or service. The business mission would be communicated by integrating it in a message that would influence the attributes of the product in order to alter the perceptions of the consumer
  • 7.
    Strategic Marketing Plan7 from the competitors’ product. The reason for this message is that this approach would create avenues whereby consumers are knowledgeable about the product and the product message when they are ready to make a purchase. Communicating to the targeted market would be in the form of the various marketing medium such as advertising. The internet would be utilized as a form of technology to reach a larger audience in less time than other forms of media. To measure the effective of the campaign the first step would be to integrate the marketing communications (IMC) to make the campaign effective. The next step would be to test new mediums to determine what is effective both at the unit level and national level. This is an important and safer avenue because it allow for testing in specific markets before spending money across a larger market. One of the most suitable methods for measuring advertising and/or promotional effectiveness is to approach mediums like social website (Facebook, Twitter). This is effective because these mediums solicit feedbacks and consumer questions. Implementing a consistent point of sale (POS) system is another approach Dennisonon in her research advised. This would be effective in that it records marketing results across all units (2011). Marketing mix: Price Since our business mission is to deliver a line of exclusive products that provides the highest level of function to people with mobility deficits, then we would reflect on an exclusive pricing objective. The pricing strategies that would reflect the exclusive quality of Support Solutions are “Competitive pricing,’ and ‘Market penetration.’ Competitive pricing is constructed on the prices of our competitors who offer similar products. The ‘Competitive pricing’ strategy is useful in that distinguishing our products from the competitors could be
  • 8.
    Strategic Marketing Plan8 challenging as with any business product and this pricing strategy would be useful in getting over that challenge. On the other hand, the ‘Market penetration’ pricing objective is useful in that it allows us to gain access into a fresh market. The main objective for utilizing the ‘Market penetration’ strategy is to attract and expand the market share. Although this pricing strategy may not harvest the desired revenue at first, when used well the end result can be successful (Winer and Dhar, 2011). For example, since there are many marketers of walking canes we would have to conduct a market research that would show the competitors price scale. Being new to the market, we could rule on using the ‘Market penetration’ pricing strategy to influence buyers to purchase our product. If the competitors’ price for instance is normally sold for $ 20.00 to $ 25.00 then we could penetrate this scale and place our product at $19.00 for the first few months. That would influence buyers to purchase our product over the competitors thus increasing our buyer volume (Agricultural Research and Cooperative Extension, 2007). Analyzing these objectives both seem to offer safe avenues, however, the pricing strategy that would best fit our marketing objective and business mission would be the ‘Market penetration. Since Support Solutions is new to the market, the ‘Market penetration’ price objective would allow us to enter and set a competitive price scale that would influence buyers and increase consumer buying volume (Agricultural Research and Cooperative Extension, 2007). Marketing Mix: Channels of Distribution The successful reveal of new products is vital in maintaining market leadership. Rangan, Menezes & Maier states that the distribution channel system can be managed once it is in place. Menezes et al. confirms that the distribution channel is merely a system proposed at executing necessary tasks but it is important to know that consumers do expect their preferred outlet system
  • 9.
    Strategic Marketing Plan9 to deliver a thorough bundle of outlet functions (1992). Depending on the scale of the business, the products may appeal to a variety of markets or distribution outlets. However, launching a new product with limited resources, it is best to choose specific channels of distribution that proposes the least challenge to enter the market contrary to the contender (Menezes et al., 1992). Christian, (1958) propose that the analysis of the distribution outlet must be modified to the business objectives and any immediate issues. Christian in his research stresses that in addition to modifying the channel of distribution it is important to acquire a checklist that covers questions regarding the product line, which channels of distribution the competitors use to sell their products, the major markets to include strategic purchasing influences, the selling program, which asks questions regarding the amount of feedback desired from the distribution channel to implement the marketing effort. Most importantly, the checklist should state questions regarding the analysis of individual channel of distribution, which focuses on the channel of distribution utilized by the competitor (1958). Based on these researched evaluation, the distribution outlet for ‘Support Solutions’ would be TV and cable, which routes directing marketing and home shopping network channels. The reason for this distribution outlet is that it is not only a distribution channel but a more modern way of showcasing the new product. This channel also offers much feedback and the sales influence option would be effective in launching the new product. This would be a more economical option and being a new product on the market, this channel of distribution would reach a larger audience especially those with mobility impairment that prefers an at home shopping experience. Marketing Mix: Customer Relationship Management
  • 10.
    Strategic Marketing Plan10 The Consumer Relationship Management (CRM) as specified by O’Malley and Mitussis is a powerful and influential strategy that is designed for businesses to lower cost and expands profitability through securing consumer loyalty (2002). Kavitha and Palanivelu on the other hand, solicit CRM as being neither a product nor service, rather an integrated business strategy aimed at customer satisfaction (2012). This integrated strategy places the customer at the center of business consciousness. Kavitha and Palanivelu (2012) research supports the perspective of O’Malley and Mitussis adding that the CRM approach is a comprehensive strategy and procedure of acquiring, preserving and affiliating with customers to create greater value for both the business and the customer alike. Base on this approach, integrating the CRM strategy in our plan would be effective in achieving the goal of the business and to create a long-lasting customer relationship. The concept of CRM would allow us to incorporate its strategies into our plan in that it’s not only important in securing consumer business relationship it also engages internal workers, management teams and external units, which includes advertising entities and network organizations. As customers initiate need in our supply chain process the CRM concept would allow us to realign our business strategy by matching the customer obligations (Acharyulu, 2012). In addition the CRM idiom would play a huge role in our business by using information technology to assist our business in staying up-to-date with customers concerns regarding our product and also to assist them by initiating timely and urgent response to their concerns and issues. For example, having the CRM system our business would be able to create a technology-based information hub about the customer and utilize that information whenever the customer communicates a concern or issue (Cohen, & Moore, 2012).
  • 11.
    Strategic Marketing Plan11 Conclusion The process of new product development into the market involves a series of phases. Although the preliminary phase involves many stages, much research has to be conducted to ensure proper and effective development. This is especially important to meet the ever-changing demands of buyers. The development and planning process should also involve meeting the needs of the customers. By integrating idioms such as the CRM into the businesses core strategy, management can develop the type of relationship that addresses customers concerns with urgency while at the same time securing a long-lasting customer-to-business relationship.
  • 12.
    Strategic Marketing Plan12 References Acharyulu, G. K. (2012). Leveraging Customer Relationship Management (CRM) in Corporate Hospital Supply Chain IUP Journal of Supply Chain Management, 72-87 Agricultural Research and Cooperative Extension (2007) Understanding Price Objectives & Strategies, Penn State College Journal of Agricultural Science, Agricultural Research & Cooperative Extension Christian, R. C. (1958). Industrial marketing: three-step method to better distribution channel analysis. Journal of Marketing, 23(2), 191-192. Cohen, S., & Moore, J. (2000) Today's Buzzword: CRM (Customer Relationship Management). Public Management (00333611), 82(4), 10 Dennisonon, J. (2011) Maximizing Your Message Cost-Effectively Across All Mediums Franchising World, 43(9), 53 Hartley, B., & Pickton, D. (1999) Integrated marketing communications requires a new way of thinking, Journal of Marketing Communications, 5(2), 97-106. doi:10.1080/135272699345699 Katrandjiev, H. I. (2000). Some Aspects of Measuring Integrated Marketing Communications (IMC) Department of Marketing and Strategic Planning University for National and World Economy Journal of Marketing 1(8) 87-93
  • 13.
    Strategic Marketing Plan13 Kavitha, K. S., & Palanivelu, P. P. (2012) Customer Satisfaction: CRM in Canara Bank. SCMS Journal of Indian Management, 9(3), 99-108. Mansfield, S. (1996). Dick's Sticks, Forbes, 158(12), 126-130. O'Malley, L., & Mitussis, D. (2002) Relationships and technology: strategic implications. Journal of Strategic Marketing, 10(3), 225-238. doi:10.1080/09652540210152521 Rangan, V., Menezes, M. J., & Maier, E. P. (1992) Channel Selection for New Industrial Products: A Framework, Method, and Application. Journal of Marketing, 56(3), 69-82. U.S. Census Bureau American Fact Finder (2011), Retrieved from http://factfinder2.census.gov/faces/nav/jsf/pages/index.xhtml Winer, R. & Dhar, R. (2011) Marketing Management (4th , e.d). Prentice Hall