Marketing Management

MKT/574 v1

Strategic Marketing Plan

MKT/574 v1

Page 3 of 3

Assignment 3 - Market Strategy, Marketing Channels, Implementation and Monitoring

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 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

References (Remember in-text citations)

Copyright 2020 by University of Phoenix. All rights reserved.

Copyright 2020 by University of Phoenix. All rights reserved.