Organize, Implement, and Control the Marketing Plan
You have compiled all of the data for the board of directors and the chief marketing officer (CMO), and they have asked that you report it to the shareholders as a marketing plan. Your marketing plan will outline where the business is, its desired destination (objectives), and the conditions it will face in its efforts to reach that destination. The plan helps to integrate activities, schedule resources, specify responsibilities, and provide the means for measuring progress. Understanding the market situation reveals a set of key issues that needs to be addressed to reach the desired destination. Situation analysis and identification of key performance issues are critical inputs to the marketing plan. To construct a realistic plan, managers need to estimate what the total market demand might be (Hollensen, 2019).
You are to create a marketing plan of your chosen company that enhances organizational efficiency and effectiveness through the application of ACBSP key business domains of accounting, finance, statistics, economics that outlines where the business is, its desired destination (objectives), and conditions it will face in efforts to reach that destination, how to integrate activities, schedule resources, specify responsibilities, and provide a means of measuring progress.
Using the research you have from the discussions and assignments in Units 1, 2, 3, and 4 and six outside sources, create your marketing plan with the following framework:
Title
Executive summary
Purpose of the report
The problem it is addressing
Problem analysis
Results of analysis
Recommendations
Introduction
Your key business objectives
Your strategy for achieving those objectives
Situational analysis
Target market
Competitors
Business challenges
The company’s competitive differentiators
Marketing objectives and goals
Increase brand awareness
Increase market share
Improve ROI (return on investment)
Attract new customers
Retain current customers
Marketing strategies and programs
Target audience
Segmentation
PEST analysis
SWOT analysis
Completive analysis
Budgets
Content marketing
Paid advertising
Public relations (PR). search engine optimization (SEO), and influencer marketing
Relationship management, business-to-business (B2B), and business-to-consumer (B2C)
Events
Implementation and control
Identify the goal for each segment
Strategy to achieve the goal
Conclusion
As you progress through this assignment, keep in mind that marketing management includes strategy as a process and a way of approaching decision-making about essential marketing opportunities and challenges. The quality of your research will reflect in the quality of your marketing plan.
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