Discussion

13 Jun Discussion

SETUP: MARKETING MANAGEMENT PLAN PURPOSE (VERSION #3)

DESCRIBE WHO YOUR MARKETING MANAGEMENT PLAN IS FOR, AND WHAT THEY WILL KNOW THAT THEY DIDN’T KNOW BEFORE READING YOUR MARKETING MANAGMENT PLAN.

We will create a final template, and you will fill out a new part of the plan each week. At the end, you will submit the final copy of your complete plan.

SETUP: NAME YOUR COMPANY (VERSION #3)

WRITE DOWN THE NAME OF YOUR COMPANY.

SETUP: WRITE DOWN YOUR COMPANY VISION (VERSION #3)

WRITE DOWN A FIRST DRAFT OF YOUR COMPANY VISION. YOUR VISION SHOULD BE A SHORT SENTENCE OR TWO THAT DESCRIBES HOW THE WORLD WILL BE DIFFERENT BECAUSE YOUR COMPANY EXISTS. IN OTHER WORDS, THE IMPACT ON THE WORLD THAT YOU WANT TO HAVE WITH YOUR COMPANY.

Vision = After You – Before You = Impact

DEFINITIONS: MARKETING (VERSION #3)

WRITE DOWN YOUR PERSONAL DEFINITION OF MARKETING.

Definitions should be specific enough so that your definition isn’t describing something else.

Definitions should be physical enough that when shared with someone else, they should have some idea what to do.

DEFINITIONS: MANAGEMENT (VERSION #3)

WRITE DOWN YOUR DEFINITION OF MANAGEMENT.

DEFINITIONS: STRATEGY (VERSION #3)

WRITE DOWN YOUR DEFINITION OF STRATEGY, AND HOW IT IS DIFFERENT FROM TACTICS.

DEFINITIONS: BUSINESS (VERSION #3)

WRITE DOWN YOUR PERSONAL DEFINITION OF BUSINESS.

MARKETING: VALUES (VERSION #2)

WRITE DOWN AT LEAST THREE VALUES THAT YOUR TEAM SHOULD USE AS DECISION MAKING TOOLS.

What is most important to you in making decisions and in what order?

MARKET SEGMENTATION: CRITERIA (VERSION #1)

WRITE DOWN AT LEAST THREE CONSUMER THAT YOU BELIEVE WILL BUY YOUR PRODUCT OR SERVICE AND SORT THEM IN GROUPS (SEGMENTS) BY ONE OR MORE OF THE FOLLOWING:

• Where they are (location)
• Who they are (demongraphics)
• What they like (psychographics)
• How they behave (Behavior)

MARKET SEGMENTATION: TARGETING (VERSION #2)

WRITE DOWN THE SEGMENT, THAT YOU WILL FOCUS ON FIRST (TARGET) AND WHY SUCH AS:

• They will spend more money
• They are easer to reach
• You already have a media channel to them
• They already show the biggest input
• They are more likely to tell others
• Other

MARKETING BRAND POSITIONING: MARKET POSITION (VERSION #2)

WRITE DOWN WHAT YOUR BRAND POSITION IS RELATIVE TO YOUR COMPETITION. EX.

• Easier
• Faster
• Cheaper
• More reliable
• Last Longer

Ex: We keep track of your customer and business interactions like the SAP Enterprise Resource Planning System, only without the high staff overhead to run and maintain it.

MARKETING: MESSAGE (VERSION #2)

WRITE DOWN AT LEAST THREE MOST IMPORTANT MESSAGES TO YOUR TARGET MARKET. REMEMBER THAT YOUR TARGET MARKET IS MOTIVATED BY”

• Fear
• Guilt
• Greed
• Excusivity
• Social acceptance (“everyone in this group is doing it”)

You can create your USP (Unique Selling Position) with this template:

• Narrowly defined positioning.
• Meaningful specifics.
• Guarantee

Examples:

• “Fresh Hot Pizza Delivered in 30 Minutes or Less” – Domino’s Pizza
  “Where it absolutely, positively has to be there overnight” – FedEx.
  “We’re number two. We try harder.” Avis
  “The milk chocolate melts in your mouth, not in your hand.” – M&M
  “A diamond is forever.” – De Beer’s
• benefit that is a promise with meaningful specifics – with a guarantee. If you define your USP narrowly, it will give you a stronger appeal. Meaningful specifics mean that you specify the benefit. Look at Domino’s example: They are not going to deliver your pizza “sometime” but within 30 minutes. It has a specific timeframe. They are taking two benefits that are what clients hate about delivered pizza. They hate it when it’s cold, and they hate it when it’s late.
  You need to have meaningful specifics in your USP.  The meaning will be a benefit to your ideal customer, client or patient.
  The last part is a guarantee. If you can guarantee an outcome that your ideal prospect will love, use that in your USP.

MARKETING: MEDIA (VERSION #2)

WRITE DOWN AT LEAST THREE MEDIA CHANNELS THAT ARE MOST IMPORTANT TO YOUR TARGET MARKET AND WHY. EXAMPLES INCLUDE:

• Blogs
• Social Media (which social media specifically)
• Trade Shows
• Email
• Magazines
• TV Shows
• Public Relations (getting others to talk about you…who and where)
• Email
• Search Engine Marketing
  • Search Networks (Pay per Click)
  • Display Networks (Banner Ads)
• Speaking Opportunities
• Awards & Recognition
• Sponsorships
• Direct Mail
• Content Marketing (video, articles, youtube channels…)

Specify whether your choices are Owned Media, Paid Media, or Earned Media

MARKETING: MARKETING MIX (VERSION #2)

WRITE DOWN WHAT IS MOST IMPORTANT TO YOUR TARGET MARKET ABOUT YOUR MARKETING MIX:

• Product (Features, benefits, design…)
• Price
• Place (where and how they buy)
• Promotion
  • increase awareness
  • create interest
  • generate sales
  • create brand loyalty (seperate yourselves from others)

PLANNING: OBJECTIVES (VERSION #1)

In order to achieve your vision and your goals, you will need objectives (outcomes for your marketing team). List three marketing objectives that you want your marketing team to accomplish for your company. Be concise, we do not need an academic paper and discussion, only that the objectives be clear ly understand. You do not have to know how you are going to achieve those goals at this point, only that you want them done somehow.

You should work as much as possible for your objectives to help you ahieve your vision and mission.

Objective could include ofr example:

• Identify and target at least one new marker segment
• Create messaging for our target segment
• Increase leads by 10%
• Build brand awareness.
• Grow market share by 4%
• Launch new products or services.
• Enter new markets internationally or locally.
• Increase customer engagement on social media
• Develop pricing strategy

PLANNING: DECISION MAKING (VERSION #1)

For one of your marketing objectives write down three decisions that as a manager you will have to make.

Ensure for your decision that you have widened your options as described in the deciisive video in the simCEO resources folder (https://youtu.be/eY3ivHv7J7s).

Examples could include:

• What is the best marketing media channel to reach our target market?
• How do I organize my marketing team most effectively to grow our market the fastest.
• What processes should we put in place to most effectively do market analysis.

PLANNING: METRICS (VERSION #1)

As a manager, you will need to create metrics to measure whether you will reach your goal.

Write down a one goal, one lag metric to achieve that goal, and at least one LEAD metric. (the LEAD/LAG Measure ment video in the simCEO resources, https://youtu.be/Dwpak1IzYj8, might help).

Example include:

• Increase customer engagement
  • Lag measurement: # likes on facebook
  • Lead measurment: number of company facebook posts
• Book more appiontments
  • Lag measurement: #sales appintments booked
  • Lead Measurment: #leads on website.
• Open new target market
  • Lag measurement: # of new people on our email list
  • Lead measurement: # of initial email sent to new people.

2- Write a very quick note to the marketing team that you manage, and list your top 3 results that you want to have by the end of the year, with a very short explanation of why each one is important to the company?

• Some Question I Have the Answer of It

Name of the company

Instant Tacnologes

The vision of the company

To provide the user with the best experience of modern hardware and software solutions.

Values

1. Collection of information applicable information from other relevant sources and through assessment
2. Consideration of the alternatives that will assist in the achievement of the objectives of the company
3. Picking the perfect choice after considering all other factors

The essential consideration in making decision

The most crucial thing, in this case, is the collection of relevant information which will assist in knowing much on how to conduct the marketing. This will then follow the order of priority whereby the most significant factors are considered first before handling the minor ones.

Instructions to achieve the three top priorities of the company 

The employees will have no doubt or any other difficulty in doing what is expected in the achievement of the top priorities o the company. The employees will achieve their priorities perfectly.

Market segmentation: criteria 

The consumer groups of the products of the company include;

• The retailers

These are the category of young and energetic people who buy the products from the company in bulk and sell to the other people for a profit. They are usually based in urban centers. They can walk from one place to another.

• Households

These are the direct consumers of the products. They are located in both urban and rural areas. They depend on the products to facilitate their well being in their houses.

• Organizations

This type of people is located in the urban centers in most cases but can also be found in the rural. They also use the products to facilitate their businesses. For example, information technology organizations.

Market segmentation: targeting

The segment that I will focus on first is the organizations. This is because they can easily be reached through media channels. They also by the goods in bulk, therefore spend more money.

Marketing brand positioning

The brand is relative to the competition in the sense that it is cheaper, last longer and more reliable as opposed to other company’s similar products. Furthermore, they are easily reached as a result of the proper means of communication.

Marketing: message 

• Narrowly defined positioning: Our brand is the most reliable, cheaper, and last longer than any other company and therefore used by almost everyone.
• Meaningful specifics: The technological equipment is delivered to you in your doorstep in 40 minutes of your order.
• Guarantee: You will never regret using our products; instead, you will be a living testimony of their perfect effectiveness.

Marketing:  media

The most prominent media channels to my target market are:

• TV shows
• Social media such as Facebook
• Magazines

This is because these media channels are easily accessible and mostly accessed by a large number of people in a day, especially Facebook.

Public relations

For the case of meeting others to talk about the company, search engine marketing is the most appropriate because it seems cheaper to the customers. The customers can easily search and communicate their concerns without pay. Direct email can also be used for more details on the products of the company.

Content marketing

In content marketing, articles are mostly used. Additionally, the YouTube channels are also employed to assist the customers in having a good view of the products they want to purchase.

The media channels above selected are owned media of the company, and therefore, the customer only needs to log in and check for the details he or she requires.

Marketing: Marketing mix 

The most crucial aspect of my target market is the product of our company. The company produces the best quality software products that perform their work correctly. The products are also the newest in the technology market, and this keeps you updated technologically you use the latest technological tool.