Module 06 Course Project - Final Marketing Plan

Strategy

Action

Procedure

Time

Evaluation method

Internet marketing

Setting up a sales website

Soliciting services from experienced web developers.

1 month

Assessment of daily visits to the site.

Social media marketing

Creating a Facebook page, Pinterest, and Reddit

A page will be opened by the company’s ICT personnel

1 day

Looking at the number of likes, comments, and shares as well as client messages

Search engine optimization

(SEO)

Publishing articles describing our brands with high-density keywords

Use of internet browsers especially google and yahoo.

2 months

Observing frequent internet searches and customer surveys based on how they came to know about our products.

Visual marketing

Use of infographics

The company ICT team will create infographics for various company products

1 month

Infographics will be subject to frequent updates as per the changes in product complexity.

Media attention

TV and Radio contract

The products will be advertised on televisions and radios to get customer attention

5 months

Monitoring levels of customer increase daily and frequency of advertisement in respective media houses.

Target marketing

Reaching out to customers and brand awareness

The company will pay visits to customers in an attempt to enlighten them on the advantages of products.

7 months

Observing the customers interests and purchase patterns as well as attendance at promotional events.

Direct mail campaign

Creating fliers and banners.

The information and awareness team will create informative banners based on each product. The banners will be distributed to respective customers.

3 months

Various customers will be conducted for interviews and the data obtained will be used to make necessary adjustments.

Team

Responsibilities

Creative and information technology

Web design

Publishing various marketing documents such as sales reports.

Dissemination of information.eg by creating brochures, banners, and flyers.

Online media management is, e.g., attending to Facebook pages and updating the marketing website.

Offer online technical support primarily to customers who do online shopping.

Avail all marketing message dissemination requirements.

Public relations

Hold non-paid forms of advertisement

Production and submission of customer press releases.

They act as media spokesperson for the company by conducting marketing interviews with the media

Market researchers

They Find out critical information about the target customers.

They Identify potential competitors.

They Avail analyzed statistical data for appropriate adjustments.

Marketing manager (each for a particular product)

They Organize the entire market implementation process.

The marketing manager oversees the marketing action process.

The Report to the executive stakeholders of the company about the progress of the program.

Human resource

Advertisement of available vacancies.

Assessment of the available staff for compliance with the implementation program

Identification of employment gaps within the marketing department

They Motivate employees in the marketing team.

Finance

Provides financial support to the marketing team to ensure the smooth running of the activities.

They Monitor the economic output as per the strategies implemented.

They Avail necessary equipment required. This includes procuring essential means of transport and means of payment for various outsourced services.

They Account for marketing strategy expenditure and allocation of funds by the complexity of the action.

Risk Scenario

Impact

Contingency strategy /mitigation

Brand rejection

Loss of customers

Loss of invested funds

By Rebranding the product.

Exploring the market beyond boundaries to identify a market niche for the product.

Creating awareness on benefits of the product in the entire community.

High product demand

Supply shortage

Excess supply of old products

Increase production rate

Create awareness of alternative products from the company

Market cannibalism

Reduction in overall sales of existing products related to a rebranded product.

Reduction in sales volume and market share of other products.

Premature end of parent products from which rebranded products are made.

The shift in consumer habits. Some may start consuming the introduced product, and some may opt out from consuming the company’s products

Withholding the new brand; ensures that the parent product sales out before the introduction of the new product into the market.

Market cannibalism can be used positively by introducing a product that will result in shift consumption of products from competitors.

Market Supply shortage

Excess demand hence increased supply shortage in the long run

Outsource products

Increase the price of the product

Allocate more production capacity

High advertisement service charges

Low levels of product awareness

Reduction in sales output

Outsource alternative advertising platforms

Bankruptcy

Shortage of funds for holding various strategic activities and implementation.

Failure of the entire marketing implementation program

Setting up an emergency kitty for various action plans as well efficient management of funds during implementation to avoid losses on additional activities.

Market exit

Loss of the entire funds invested in the marketing plan and implementation program

Systematic, continuous improvement to avoid spending vast amounts of funds

Poor marketing skills among the marketing implementation team.

Loss of market recognition

Inadequate product awareness

Low product returns

Education of the marketing team in respective departments of marketing.

Replacement of the unskilled staff and outsourcing where necessary.