MKT 6120 Marketing Management

I don’t know how to handle this Management question and need guidance.

#1
Name Your Company

Write down the name of your company.

Write Down Your Company Impact Statement

Write down a first draft of your company impact statement. Your impact statement should be a short sentence or two that describes how the world will be different because your company exists. In other words, the impact on the world that you want to have with your company.

Vision = After You – Before You = Impact

Definitions: Marketing

Write down your personal definition of Marketing, Do not copy, this is YOUR definition.

Definitions: Management

Write down your definition of Management. Do not copy, this is YOUR definition.

Definitions: Strategy

Write down your definition of strategy, and how it is different from Tactics.

Definitions: Business

Write down your personal definition of Business. Do not copy, this is YOUR definition.

THIS MY IDEA YOU CAN ***********************************************************************************

Company:

starter kit courses online for low education poor people

Company Vision:

qualify the low educated poor people to get

intro to the companies

before:

no history credits

no stability jobs

no stability family

the high percentage for breaking the lease

a low amount tax collector

low-level healthcare due to no health care insurance

a high percentage of homeless

after:

history credits

stability job

stability family

low percentage for breaking the lease

a high amount tax collector

hi-level healthcare due to no health care insurance

a low percentage of homeless

THIS MY IDEA YOU CAN**************************************


#2

Write down what you need help on in your Marketing Management Plan

  • Tell what you are most concerned about and why
  • Give any background that you think people will need
  • Ask your classmates for help on what you should add, modify, and delete from your original draft.
    • NOTE: “Here’s what I wrote, what do you think” will not earn full points.

You will be required to find at least one piece of advice that you are willing to take, and report on that in your collaboration assignment this week.

#3
Seek advice from your fellow students on additions, modifications, or deletions that you should make 0n your draft Marketing Managment Plan or your Correspondence.

Write down at least one piece of advice that you have chosen to accept and include:

  • What the advice is
  • Why you have chosen to accept it
  • What specifically you are changing in your plan as a result

#4

Marketing: Brand Story

Write down the following brand story elements:

  • What you do
  • Who you do it for
  • What makes you different
Marketing: Values

Write down at least three values that your team should use as decision making tools.

What is most important to you in making decisions and in what order?

Imagine that you are writing down instructions for achieving the three top priorities of for your company. Now imagine that after writing your values, that you leave for three months. Will your employees do the right things to achieve your top values?

Market Segmentation: Criteria
Write down at least three consumer groups that you believe will buy your product or service and sort them in groups (segments) by one or more of the following:
  • Where they are (location)
  • Who they are (demographics)
  • What they like (psychographics)
  • How they behave (Behavior)

You will prove one answer for each group. The answer will be based on one or more criteria.

Market Segmentation: Targeting
Write down the segment, that you will focus on first (target) and why such as:
  • They will spend more money
  • They are easer to reach
  • You already have a media channel to them
  • They already show the biggest input
  • They are more likely to tell others
  • Other
Marketing Brand Positioning: Market Position
Write down what your brand position is relative to your competition. Ex.
  • Easier
  • Faster
  • Cheaper
  • More reliable
  • Last Longer

Ex: We keep track of your customer and business interactions like the SAP Enterprise Resource Planning System, only without the high staff overhead to run and maintain it.

Marketing: Message

Write down at least three most important messages to your target market. Remember that your target market is motivated by”

  • Fear
  • Guilt
  • Greed
  • Exclusivity
  • Social acceptance (“everyone in this group is doing it”)

You can create your USP (Unique Selling Position) with this template:

  • Narrowly defined positioning.
  • Meaningful specifics.
  • Guarantee

Examples:

  • “Fresh Hot Pizza Delivered in 30 Minutes or Less” – Domino’s Pizza“Where it absolutely, positively has to be there overnight” – FedEx.“We’re number two. We try harder.” Avis“The milk chocolate melts in your mouth, not in your hand.” – M&M“A diamond is forever.” – De Beer’s
  • benefit that is a promise with meaningful specifics – with a guarantee. If you define your USP narrowly, it will give you a stronger appeal. Meaningful specifics mean that you specify the benefit. Look at Domino’s example: They are not going to deliver your pizza “sometime” but within 30 minutes. It has a specific timeframe. They are taking two benefits that are what clients hate about delivered pizza. They hate it when it’s cold, and they hate it when it’s late.You need to have meaningful specifics in your USP. The meaning will be a benefit to your ideal customer, client or patient.The last part is a guarantee. If you can guarantee an outcome that your ideal prospect will love, use that in your USP.
Marketing: Media

Write down at least three media channels that are most important to your target market and why. Examples include:

  • Blogs
  • Social Media (which social media specifically)
  • Trade Shows
  • Email
  • Magazines
  • TV Shows
  • Public Relations (getting others to talk about you…who and where)
  • Email
  • Search Engine Marketing
    • Search Networks (Pay per Click)
    • Display Networks (Banner Ads)
  • Speaking Opportunities
  • Awards & Recognition
  • Sponsorships
  • Direct Mail
  • Content Marketing (video, articles, youtube channels…)

Specify whether your choices are Owned Media, Paid Media, or Earned Media

Marketing: Marketing Mix

Write down what is most important to your target market about your marketing mix:

  • Product (Features, benefits, design…)
  • Price
  • Place (where and how they buy)
  • Promotion
    • increase awareness
    • create interest
    • generate sales
    • create brand loyalty (separate yourselves from others)
      #5 Planning Note

      You do not need to add lots of detail, just what you want to achieve and why it is important. Ex.

      • We intend to target a new market segment this year because of increasing competition in our current market
      • We intend to acquire and train a team in social media because our customers are relying more and more on quick, daily interactions
      • Due to the entrance of foreing companies into our market, we plan to launch a lower priced version of our core products

      Create a short video of you talking through your draft Marketing Management Plan so far, and post the link in the assignment. Ensure to cover week #1 and week #2 in your talk.

    • Write a quick note to your board of advisors letting them know that you have begun planning your marketing. Specifically list the top three marketing outcomes that you want to achieve in the next year are why they are important.

      #6

    • Seek advice from your fellow students on additions, modifications, or deletions that you should make 0n your draft Marketing Managment Plan or your Correspondence.Write down at least one piece of advice that you have chosen to accept and include:
      • What the advice is
      • Who gave you the advice
      • Why you have chosen to accept it
      • The impact that the advice will have on your plan or correspondence

        #7

        Marketing Management Plan Draft : Decision Making & Behavior

      • Plan Purpose:

        Ensure that people who should read your plan understand that the plan is specifically for them, and that they understand specifically what they will get out or reading the plan.

        • Write down who the plan is for and what they will know, understand, or be able to do after they read your plan.
          • Who: ex. This plan is for all members of the marketing team.
          • Why: ex. The purpose of this plan is to streamline decision making so that we are able to respond to changing situations as fast as possible
          • What: ex. After reading this plan, marketing team members should be able to make as many decisions as possible without requiring management intervention

        Planning: ObjectivesIn order to achieve your vision and your goals, you will need objectives (outcomes for your marketing team). List three marketing objectives that you want your marketing team to accomplish for your company. Be concise, we do not need an academic paper and discussion, only that the objectives be clear ly understand. You do not have to know how you are going to achieve those goals at this point, only that you want them done somehow.You should work as much as possible for your objectives to help you achieve your vision and mission.Objective could include for example:

        • Identify and target at least one new marker segment
        • Create messaging for our target segment
        • Increase leads by 10%
        • Build brand awareness.
        • Grow market share by 4%
        • Launch new products or services.
        • Enter new markets internationally or locally.
        • Increase customer engagement on social media
        • Develop pricing strategy
        Planning: Decision Making

        For one of your marketing objectives write down three decisions that as a manager you will have to make.Ensure for your decision that you have widened your options as described in the deciisive video ().Examples could include:

        • What is the best marketing media channel to reach our target market?
        • How do I organize my marketing team most effectively to grow our market the fastest.
        • What processes should we put in place to most effectively do market analysis.
        Planning: Metrics

        As a manager, you will need to create metrics to measure whether you will reach your goal.Write down a one goal, one lag metric to achieve that goal, and at least one LEAD metric. (the LEAD/LAG Measurement video in the simCEO resources, , might help).Example include:

        • Increase customer engagement
          • Lag measurement: # likes on facebook
          • Lead measurement: number of company facebook posts
        • Book more appointments
          • Lag measurement: #sales appointments booked
          • Lead Measurement: #leads on website.
        • Open new target market
          • Lag measurement: # of new people on our email list
          • Lead measurement: # of initial email sent to new people.

          #8Write down what you need help on in your Marketing Management Plan

          • Tell what you are most concerned about and why
          • Give any background that you think people will need
          • Ask your classmates for help on what you should add, modify, and delete from your original draft.
            • NOTE: “Here’s what I wrote, what do you think” will not earn full points.

          You will be required to find at least one piece of advice that you are willing to take, and report on that in your collaboration assignment this week.

          #9

          Seek advice from your fellow students on additions, modifications, or deletions that you should make 0n your draft Marketing Management Plan or your Correspondence.Write down at least one piece of advice that you have chosen to accept and include:

          • What the advice is
          • Who gave you the advice
          • Why you have chosen to accept it
          • The impact that the advice will have on your plan or correspondence

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