Strategic Marketing Plan | My Assignment Tutor -

Strategic Marketing Plan Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring (Due in Wk 6) New Target Markets Determine any new markets for your strategy and describe how you will provide value to each target market. Marketing Mix for New Target Markets Determine adaptions for each new target market. ProductsPriceDistributionTraditional PromotionOnline 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. ChannelTarget MarketAdvantagesDisadvantagesExample: Direct mailMiddle class residentialCan include couponsExpense and low return rate for given product 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. ActionDate for CompletionPerson/Role ResponsibleStandard/MetricExample: Design flyer for direct mail campaign1/1/2021J. Smith, graphic designerApproval by senior marketing team and legal 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. ActionTargetPerson ResponsibleInter-measurementExample: Direct mail flyer1100 new inquiriesWestern regional manager500 new inquiries first month of campaign