Company that enhances organizational efficiency and effectiveness through the application of ACBSP key business domains

at
Categories
Tags

You have compiled all of the data for the board of directors and the chief marketing officer (CMO), and they have asked that you report it to the shareholders as a marketing plan. Your marketing plan will outline where the business is, its desired destination (objectives), and the conditions it will face in its efforts to reach that destination. The plan helps to integrate activities, schedule resources, specify responsibilities, and provide the means for measuring progress. Understanding the market situation reveals a set of key issues that needs to be addressed to reach the desired destination. Situation analysis and identification of key performance issues are critical inputs to the marketing plan. To construct a realistic plan, managers need to estimate what the total market demand might be (Hollensen, 2019).

You are to create a marketing plan of your chosen company that enhances organizational efficiency and effectiveness through the application of ACBSP key business domains of accounting, finance, statistics, economics that outlines where the business is, its desired destination (objectives), and conditions it will face in efforts to reach that destination, how to integrate activities, schedule resources, specify responsibilities, and provide a means of measuring progress.

Using the research you have from the discussions and assignments in Units 1, 2, 3, and 4 and six outside sources, create your marketing plan with the following framework:

Title
Executive summary
Purpose of the report
The problem it is addressing
Problem analysis
Results of analysis
Recommendations
Introduction
Your key business objectives
Your strategy for achieving those objectives
Situational analysis
Target market
Competitors
Business challenges
The company’s competitive differentiators
Marketing objectives and goals
Increase brand awareness
Increase market share
Improve ROI (return on investment)
Attract new customers
Retain current customers
Marketing strategies and programs
Target audience
Segmentation
PEST analysis
SWOT analysis
Completive analysis
Budgets
Content marketing
Paid advertising
Public relations (PR). search engine optimization (SEO), and influencer marketing
Relationship management, business-to-business (B2B), and business-to-consumer (B2C)
Events
Implementation and control
Identify the goal for each segment
Strategy to achieve the goal
Conclusion
As you progress through this assignment, keep in mind that marketing management includes strategy as a process and a way of approaching decision-making about essential marketing opportunities and challenges. The quality of your research will reflect in the quality of your marketing plan.

Your company’s marketing plan will be at least 25 pages (5 pages/unit = 25 total) as an accumulation of all the pages from previous units. Your marketing plan must in APA formatting while using your textbook as a source and six other outside sources, for a total of seven.

Sample Solution

Marketing Plan for Company XYZ

Executive Summary

This marketing plan outlines the strategies and tactics that Company XYZ will use to achieve its business objectives in the next year. The plan is based on a thorough analysis of the company’s current situation, its target market, and its competitors.

The company’s key business objectives are to increase brand awareness, increase market share, improve ROI, attract new customers, and retain current customers. To achieve these objectives, the company will focus on the following marketing strategies and programs:

  • Increase brand awareness:
    • Launch a new advertising campaign on social media and television.
    • Attend industry events and trade shows.
    • Partner with other businesses in the community.
  • Increase market share:
    • Develop new products and services that meet the needs of the target market.
    • Expand into new markets.
    • Offer discounts and promotions to attract new customers.
  • Improve ROI:
    • Track and analyze marketing results to identify which campaigns are most effective.
    • Invest in marketing channels that have the highest ROI.
    • Optimize the company’s website and landing pages for conversions.
  • Attract new customers:
    • Generate leads through online and offline marketing channels.
    • Qualify leads and nurture them into customers.
    • Offer a free trial or consultation to potential customers.
  • Retain current customers:
    • Provide excellent customer service.
    • Offer loyalty programs and rewards to customers.
    • Regularly communicate with customers through email and social media.

The company’s marketing budget for the next year is $1 million. The budget will be allocated to the following marketing channels:

  • Digital marketing: 40%
  • Traditional marketing: 30%
  • Sales and marketing: 30%

The company expects to achieve the following results by the end of the next year:

  • Increase brand awareness by 20%.
  • Increase market share by 5%.
  • Improve ROI by 10%.
  • Attract 10,000 new customers.
  • Retain 90% of current customers.

Purpose of the Report

The purpose of this report is to present the marketing plan for Company XYZ to the board of directors and shareholders. The plan outlines the company’s marketing goals, strategies, and programs for the next year.

The Problem It Is Addressing

The company is facing a number of challenges in the market, including:

  • Increased competition from both domestic and international rivals.
  • Changing customer preferences.
  • Economic uncertainty.

The marketing plan addresses these challenges by focusing on strategies that will help the company to differentiate itself from its competitors, meet the needs of its target market, and grow its business.

Problem Analysis

The company’s current marketing strategy is not as effective as it could be. The company is not investing enough in digital marketing, and its website is outdated and difficult to navigate. The company also does not have a strong brand presence in the market.

Results of Analysis

The company has a number of strengths that it can leverage to achieve its marketing goals. These strengths include:

  • A strong product portfolio
  • A loyal customer base
  • A dedicated sales team

The company also has a number of opportunities to grow its business. These opportunities include:

  • Expanding into new markets
  • Developing new products and services
  • Partnering with other businesses

Recommendations

The company should focus on the following recommendations to improve its marketing efforts:

  • Invest in digital marketing, such as search engine optimization (SEO), pay-per-click (PPC) advertising, and social media marketing.
  • Update its website to make it more user-friendly and informative.
  • Build a stronger brand presence in the market through advertising and public relations.
  • Develop new products and services that meet the needs of its target market.
  • Expand into new markets.
  • Partner with other businesses.

Introduction

Company XYZ is a leading provider of products and services in the industry. The company has been in business for over 20 years and has a strong customer base.

The company’s mission is to provide its customers with the highest quality products and services at competitive prices. The company’s vision is to be the leading provider of products and services in the industry.

Your Key Business Objectives

The company’s key business objectives for the next year are to:

  • Increase brand awareness by 20%.
  • Increase market share by 5%.
  • Improve ROI by 10%.
  • Attract 10,000 new customers.
  • Retain 90% of current customers.

Your Strategy for Achieving Those Objectives

The company will achieve its business objectives by focusing on the following marketing strategies and programs:

  • **Increase brand awareness

This question has been answered.

Get Answer