New Marketing Strategy Proposal<\/p>\n
Select ONE of the following strategy categories for your new marketing strategy proposal topic. Remember you will need to find evidence and proof that your new strategy will add value for your client. You will also need to give specific examples of tactical activities your client will implement to enact your proposed strategy. <\/p>\n
A. Pricing Strategy <\/p>\n
Overall pricing strategy and pricing objectives:<\/p>\n
Price comparison to competition:<\/p>\n
Connection to differentiation\/positioning strategy:<\/p>\n
Connection to value (monetary costs):<\/p>\n
Profit margin and breakeven:<\/p>\n
Specific pricing tactics (discounts, incentives, financing, etc.):<\/p>\n
B. Integrated Marketing Communication (Promotion) Strategy <\/p>\n
Overall IMC strategy, IMC objectives, and budget:<\/p>\n
Consumer promotion elements<\/p>\n
Advertising strategy:<\/p>\n
Public relations\/publicity strategy:<\/p>\n
Personal selling strategy:<\/p>\n
Consumer sales promotion (pull) strategy:<\/p>\n
Trade (channel) promotion elements<\/p>\n
Advertising strategy:<\/p>\n
Public relations\/publicity strategy:<\/p>\n
Personal selling strategy:<\/p>\n
Trade sales promotion (push) strategy:<\/p>\n
C. Product Strategy <\/p>\n
Brand name, packaging, and logo design:<\/p>\n
Major features and benefits:<\/p>\n
Differentiation\/positioning strategy:<\/p>\n
Supplemental products (including customer service strategy):<\/p>\n
Connection to value (core, supplemental, experiential\/symbolic attributes):<\/p>\n
D. Distribution\/Supply Chain Strategy <\/p>\n
Overall supply chain strategy (including distribution intensity):<\/p>\n
Channels and intermediaries to be used:<\/p>\n
Connection to differentiation\/positioning strategy:<\/p>\n
Connection to value (nonmonetary costs):<\/p>\n
Strategies to ensure channel support (slotting fees, guarantees, etc.):<\/p>\n
Tactics designed to increase time, place, and possession utility:<\/p>\n
Required Sections for the New Marketing Strategy Proposal<\/p>\n
I. Introduction<\/p>\n
The introduction is a synopsis of the five components of the proposal. It should be professional and persuasive! The introduction should be the last part of the marketing plan that you write. <\/p>\n
II. Description of the proposed new marketing strategy and tactical activities <\/p>\n
Your new marketing strategy and tactical activities have the capability of adding real-world value for your client. You need to clearly, quickly, and persuasively share this new strategy in less than five sentences. This is different then write a research paper or a short story. Your target audience is a busy professional and you must produce an easy to read, information-packed document. Practice describing your proposal to industry experts, your fellow students and your 12-year-old neighbor kid. They all need to understand your smart and short explanation of the strategy and the activities. <\/p>\n
What is the overall strategic focus of the marketing plan? Does the strategic focus follow any particular direction, such as aggressiveness, diversification, turnaround, defensiveness, or niche marketing? How does the firm\u2019s strategic thrust provide sufficient focus and divergence from other firms in the industry? <\/p>\n
III. Explanation of the competitive advantage enhanced by the new marketing strategy.<\/p>\n
Describe ways that the new strategy and tactics empowers the client to match its strengths to its opportunities to create capabilities to excel in serving customers’ needs. Are these capabilities and competitive advantages grounded in basic principles like: 1) operational excellence, 2) product leadership, 3) customer intimacy, 4) price advantage, or 5) improved distribution processes? If so, how are these capabilities and advantages made apparent to customers?<\/p>\n
Can the firm convert its weaknesses into strengths or its threats into opportunities? How are your new marketing strategy and tactical activities going to empower your client to become a recognized market leader? <\/p>\n
IV. Target audience reached with new marketing strategy and tactical activities<\/p>\n
Primary target market (Your audience cannot be all Boomers, all women, or all Hispanics! It needs to be a very specific segment of a very specific recognizable group. <\/p>\n
Identifying SPECIFIC characteristics (demographics, geography, values, psychographics):<\/p>\n
Basic needs, wants, preferences, or requirements:<\/p>\n
Buying habits and preferences:<\/p>\n
Consumption\/disposition characteristics:<\/p>\n
Secondary target market (optional)<\/p>\n
V. Marketing Goals<\/p>\n
A: _______________________________________________________<\/p>\n
(should be broad, motivational, and somewhat vague)<\/p>\n
Objective A1: ______________________________________________________<\/p>\n
(must contain a specific and measurable outcome, a time frame for completion, and identify the person\/unit responsible for achieving the objective)<\/p>\n
Objective A2: ______________________________________________________<\/p>\n
(must contain a specific and measurable outcome, a time frame for completion, and identify the person\/unit responsible for achieving the objective)<\/p>\n
B: _______________________________________________________<\/p>\n
(should be broad, motivational, and somewhat vague)<\/p>\n
Objective B1: ______________________________________________________<\/p>\n
(must contain a specific and measurable outcome, a time frame for completion, and identify the person\/unit responsible for achieving the objective)<\/p>\n
Objective B2: ______________________________________________________<\/p>\n
(must contain a specific and measurable outcome, a time frame for completion, and identify the person\/unit responsible for achieving the objective)<\/p>\n
(Can be repeated as needed to develop a complete list of goals and objectives. However, having one goal and two or three objectives is advisable to greatly reduce the complexity of the marketing strategy.) <\/p>\n
VI. Proposal Implementation<\/p>\n
A. Structural Issues<\/p>\n
Describe the overall approach to implementing the marketing strategy.<\/p>\n
Describe any changes to the firm’s structure needed to implement the marketing strategy (e.g., add\/delete positions, change lines of authority, change reporting relationships).<\/p>\n
Describe any necessary internal marketing activities in the following areas: employee training, employee buy-in and motivation to implement the marketing strategy, overcoming resistance to change, internal communication and promotion of the marketing strategy, and coordination with other functional areas. <\/p>\n
B. Tactical Marketing Activities (be very specific\u2014this lays out the details of the<\/p>\n
marketing strategy and how it will be executed)<\/p>\n
Specific Tactical Activities<\/p>\n
Person\/Department<\/p>\n
Responsible<\/p>\n
Required<\/p>\n
Budget<\/p>\n
Completion<\/p>\n
Date<\/p>\n
1st Stage:<\/p>\n
1.<\/p>\n
2.<\/p>\n
2nd Stage:<\/p>\n
1.<\/p>\n
2.<\/p>\n
3rd Stage:<\/p>\n
1.<\/p>\n
2.<\/p>\n
4th Stage:<\/p>\n
1.<\/p>\n
2.<\/p>\n
VII. Expected Outcome<\/p>\n
Describe how the client will be able to measure success of this initiative. What are the meaningful developments they will experience that will indicate improved success in their business? Examples: (Increase in sales, Facebook followers, store traffic, coupon usage, customer satisfaction surveys completed.)<\/p>\n
Your three last sentences need to sell the project. 1) What do you want them to do? 2) How do they do it? 3) What is the expected result? <\/p>\n
VII. APA Work Cited Page<\/p>\n
Your work cited page is important. Your client wants to know that you didn\u2019t randomly make up fairy tale solutions. Use your work cited page to provide evidence of the validity of your proposed marketing strategy.<\/p>\n
Ideas for sources of evidence:<\/p>\n
Trade Journals, Association Websites, Research articles, Personal Interviews, Data provided by the client, Government Reports, Census Data, etc. (Don\u2019t be afraid to schedule an appointment with the reference librarian and ask for one-on-one help.)<\/p>\n
Link to using APA citations correctly.<\/p>\n
https:\/\/owl.purdue.edu\/owl\/research_and_citation\/apa_style\/apa_formatting_and_style_guide\/general_format.html<\/p>\n
\u00a9 2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.<\/p>\n","protected":false},"excerpt":{"rendered":"
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