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MKT574v1_StategicMarketingPlanTemplate2.docx

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MKT/574 v1

Strategic Marketing Plan

MKT/574 v1

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Part B: Marketing Data Analysis

(Due in Wk 4)

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.

Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring

(Due in Wk 6)

New Target Markets

Determine any new markets for your strategy and describe how you will provide value to each target market.

Marketing Mix for New Target Markets

Determine adaptions for each new target market.

· Products

· Price

· Distribution

· Traditional Promotion

· Online Promotion

Marketing Implementation

Create the implementation for your marketing plan. Describe how you will organize and implement the plan, such as whether it will be organized by market, geography, and who is responsible for marketing decisions.

Marketing Communication Channels

Evaluate the marketing communication channels you will use to reach selected audiences. Include Internet and traditional communication channels to convey key messages. Describe the advantages and disadvantages of each channel you select. Insert or remove rows as needed.

Channel	Target Market	Advantages	Disadvantages
Example: Direct mail	Middle class residential	Can include coupons	Expense and low return rate for given product

Strategic Actions

Develop specific activities required to implement the marketing plan. Identify the person or role who will be responsible for each action, when it will be complete, and what standard or metric indicate that the activity is complete. Insert or remove rows as needed.

Action	Date for Completion	Person/Role Responsible	Standard/Metric
Example: Design flyer for direct mail campaign	1/1/2021	J. Smith, graphic designer	Approval by senior marketing team and legal

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. Insert or remove rows as needed.

Action	Target	Person Responsible	Inter-measurement
Example: Direct mail flyer	1100 new inquiries	Western regional manager	500 new inquiries first month of campaign