Wk 6 - Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring
Use the information you researched in your Week 5 assignment for the sections they correspond to in this section.
New Customer Segments
Determine any new customer segments for your strategy and describe how you will provide value to each segment.
Marketing Mix for New Customer Segments
Determine adaptations for each new customer segment. Include:
Products
Price
Distribution
Traditional promotion
Online promotion
Marketing Implementation
Create the implementation for your marketing strategy plan. Describe how you will organize and implement the plan, such as whether it will be organized by market or geography, and who is responsible for marketing decisions.
Marketing Communication Channels
Evaluate the digital and traditional marketing communication channels you will use to reach selected audiences.
Identify 3 or 4 channels to convey key messages and list them in the Channel column of the Marketing Communication Channels Table. For each channel, input target market, advantages, and disadvantages in the respective columns. Insert or remove rows, as needed. Row 1 contains a completed example for reference.
- Marketing Communication Channels Table
- Channel
- Target Market
- Advantages
- Disadvantages
Example: Direct mail
Example: Middle class residential
Example: Can include coupons
Example: Expense and low return rate for given product
Strategic Actions
Develop strategic actions required to implement the marketing plan and list them in the Strategic Action column of the Strategic Actions Table. For each strategic action, provide the date for completion, person/role responsible, and standard or metric to indicate the action is complete in the respective columns. Insert or remove rows, as needed. Row 1 contains a completed example for reference.
Strategic Actions Table
Strategic Action
Date for Completion
Person/Role Responsible
Standard or Metric to Indicate the Action is Complete
Example: Design flyer for direct mail campaign
Example: 1/1/2024
Example: J. Smith, graphic designer
Example: Approval by senior marketing team and legal
Strategic Action 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.
For each action listed in the Action column of the Strategic Action Monitoring Table, provide the overall target, person responsible, and inter-measurement in the respective columns. Insert or remove rows as needed. Row 1 contains a completed example for reference.
Strategic Action Monitoring Table
Action
Overall Target
Person Responsible
Inter-measurement
Example: Direct mail flyer
Example: Generate 1,100 new inquiries.
Example: Western regional manager