Establish marketing objectives based on the results from the SWOT analysis.
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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 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
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. |
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 |
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 |
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)
|
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. |
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