MKT/574 v1

Strategic Marketing Plan

MKT/574 v1

Page 2 of 2

Strategic Marketing Plan

Part A: Environmental Analysis and SWOT Analysis

(Due in Wk 2)

Company Description

Describe the company you are designing the plan for. Include:

· Mission Statement

· Vision Statement

· Product line description

· Company information, such as the size of the company

Environmental Analysis

Analyze the forces that affect the company and marketing efforts.

Competitive Forces

Analyze the company’s key competitors. You may choose to use a BCG Matrix or attribute checklist to compare your company against its competitors. Describe any strategic moves the competition has recently made. Estimate your market share. Identify key competitive advantages against your competitors.

Economic Forces

Analyze the economic environment in the areas affecting your business. Consider differences within your industry and the economic impact on suppliers.

Political Forces

Analyze relevant political forces. Examples may include an election year or a law to drastically reduce or eliminate plastic waste in your county.

Legal, Regulatory, and Ethical Issues

Analyze the legal, regulatory, and ethical issues that may affect your business. Considerations may include local laws such as a ban on the use of plastic bags, the ability to post billboards, or a possible increased regulation on direct mail.

Technological Forces

Analyze whether your company will be affected by emerging technologies or trends in hardware and software industries

Social Forces

Analyze social trends and how they may affect your business. Considerations may include if your business will be affected by demographic trends, a growing dependence on computers, or whether interest in your product might be affected by growing preferences in the way things are done or changing social values.

Current Target Markets

Define the company’s current target markets. Describe the demographic, geographic, psychographic, and product usage of these targets.

Review Current Marketing

Review the company’s current marketing tactics. Consider how people find out about the product, how they get information about the product or service, what might be involved in the buying process, and what money is available for marketing. If your company is a start-up, describe your competitors’ current marketing.

SWOT Analysis

Assess your company’s strengths, weaknesses, threats, opportunities, and then evaluate how to address these in your marketing plan.

Strengths

Assess your company’s competitive advantage. Consider core competencies, assets, location, practices, etc. that are distinct in the way the organization meets the needs of its customers.

Weaknesses

Assess what limits the company may have in its current marketing strategy. Consider if there is a company weakness that needs to be addressed through Public Relations or Marketing.

Opportunities

Assess the opportunities you see based on trends or environmental conditions.

Threats

Assess the threats or limitations that may interfere with the company’s ability to meet its objectives or interfere with marketing plans.

Strengths to Opportunities & Converting Weaknesses and Threats

Convert weaknesses and threats to strengths, then strengths to opportunities in the marketing plan. Consider the implications for addressing supplier relationships, implementing new technologies, or changing the product line or addressing new markets.

Marketing Objectives

Establish marketing objectives based on the results from the SWOT analysis. Marketing objectives must align with corporate objectives, modified by the company’s resources. Objectives should include a date for the completion of the objective and the way in which success will be measured. For example: The company will expand its marketing efforts to include a new market segment of 21- to 29-year-olds. This will entail the development of a customized product by June 2020 that will address the specific psychographic and technological needs of this age group. This strategy is expected to attain a 20% growth in overall sales by January 2020. Customer loyalty (willingness to recommend the product) will increase by 30%.

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: U.S. Census Bureau	Income over the last 4 years by family structure	Household structures with the highest income capacity	Market Share Analysis Customer Segments

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 Customer Segments

Determine any new customer segments for your strategy and describe how you will provide value to each segment.

Marketing Mix for New Customer Segments

Determine adaptions for each new customer segment.

· 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

Copyright 2020 by University of Phoenix. All rights reserved.

Copyright 2020 by University of Phoenix. All rights reserved.

Running Head: MARKETING DATA ANALYSIS 1

MARKETING DATA ANALYSIS 2

Marketing Data Analysis

Name

Institution

Date

Internal Data

Source	What it measures	Data	Potential Usage
Sales data	Monthly sales for each product	Monthly average sales for each product. Data can be segmented by business and consumer markets.	Can be used for analyzing projecting trends and measuring effectiveness of a promotional strategy
Profit and loss data	Profit and loss for all products	Profit and losses made by the organization for each month. This can be analyzed for each product.	To identify products with the highest profit margins. To establish whether the organization is operating at a profit or loss (Eevi, 2020).
Cash flow	Monthly cashflow for all products	Monthly cash inflow and outflow for each product.	To establish the amount of cash that comes in and goes out with regard to each product
Cost accounting information	Cost of production, distribution, and marketing	Monthly production, distribution, and marketing costs	To establish the total cost of producing, distributing, and marketing a single unit of product. To establish whether the organization is spending more on products than how much the products are returning. To establish areas of improvement for efficiency and internal cost controls

Secondary Data

Source	What it measures	Data	Potential usage
Retail store analytics	The dollar value of sales	Major players total sales	Seasonal patterns market share analysis
Statistics provided by the government	Economic trends, pricing, trade activity, and regulation	Inflation rate	Provide insight in relation to the state of the economy pricing regulation. This can be important in ensuring compliance with revenant marketing regulations.
Industry associations	Industry trends and participating companies	A list of participating companies and quarterly industry trends	A good place to start when learning about a growing industry or when seeking information that would be available from an insider in the industry is to look to industry associations. Potential usage includes establishing where the industry is heading. Identifying competitors and any other relevant news affecting the industry.
International agencies	The information be used to measure and analyzes foreign market prospects for the organization	The data can involve products imported or exported by specific targeted foreign markets	This information is crucial in analyzing foreign markets that present the opportunity for Amazon to venture in. Specifically, the Asian and African markets present an opportunity that is yet to be fully exploited by the company.
Published surveys	Survey reports on customers	Feedback obtained on products surveyed	To understand what customers want and how products can be improved.

Primary Data

Source	What it measures	Data	Potential usage
Focus group	Group level satisfaction, motive product usage	Qualitative	Identify opportunities in the market and reactions of different market segments
Interviews	Level of customer satisfaction	Quantitative and qualitative	Improve level of customer satisfaction
Key informants	Customer habits	qualitative	Predicting the behavior of customers
Questionnaires	Customer experience	qualitative	Improving the customer shopping experience (Eevi, 2020)

Customer Relationship Management

CRM touchpoint	Purpose and objective	Data	Potential data usage
Product reviews	To collect customer feedback	Comments and product ratings	To establish what customers like and dislike hence improve the product.
Customer profile information	To collect basic information about customers	Name, Email address, location, customer ID	Tracking purchases made by customers (Anshari et al., 2019)
Subscription renewals	To identify and track loyal customers	Customers preferences	Target loyal customers with tailored offers
Customer purchasing behavior	To establish preferences and choices of customers	Purchasing trends, items purchased	Tracking the most preferred and purchased products

References

Anshari, M., Almunawar, M. N., Lim, S. A., & Al-Mudimigh, A. (2019). Customer relationship management and big data enabled: Personalization & customization of services. Applied Computing and Informatics, 15(2), 94–101. https://doi.org/10.1016/j.aci.2018.05.004

Eevi, V. (2020). Factors affecting the success of AI campaigns in marketing : data perspective. https://jyx.jyu.fi/handle/123456789/71539

Running Head: MARKETING DATA ANALYSIS

1

Marketing Data Analysis

Name

Institution

Date

Running Head: MARKETING DATA ANALYSIS 1

Marketing Data Analysis

Name

Institution

Date

1

Amazon Corporate Social Responsibility

Jeannette Stanley

University of Phoenix

January 14, 2022

Corporate Social Responsibility

Company description

In this case, we’ll consider Amazon as our company. Amazon.com Inc. is the globe’s premier e-commerce and cloud based company (Chaffey, 2021). The firm provides a wide range of items, including those for the home, cosmetics, gaming, electronics, and health. It sells things directly to clients or via a third-party provider that distributes them to them. Currently the single greatest e-retailer in the US as per Statista, having gross earnings of close to 387 billion USD in 2020. The mission statement of Amazon is to provide ease and a good pricing selection to its consumers both physically and virtually. Its objective is to use internet technologies to connect the world’s biggest markets, and the approach has proven to be successful so far.

Environmental analysis

Competitive forces

Apple, Microsoft, Walmart, Netflix, and Google are Amazon’s key rivals. Amazon’s E-books, movies, and Amazon Prime are basically cash cows, providing the company with the highest margins above its rivals as per the BCG matrix. Online services on Amazon, Kindle, and VOD are all question marks since, with the digital revolution, they have become outdated. Electricals and other household goods items are Amazon’s standouts, not just because of their rapid progression, but because of Amazon’s huge market share in these categories.

Economic forces

Taxing and inflationary rates, general and industry-specific GDP expansion, rates of unemployment and alterations in currencies are all economic variables that have a direct impact on Amazon’s revenue flow and advancement possibilities.

Political forces

Political safety or volatility in the United States, the effect of domestic market advocacy, and the government’s stance toward e-commerce and retailing sectors in particular are political variables that affect Amazon (Sadq et al., 2018). Amazon has an inverse impact in governance in a lot of places due to the extent and magnitude of its corporate activities.

Legal forces

Various rules and regulations apply to Amazon’s commercial activities. Antitrust statutes, laws to do with discrimination, laws to do with consumer protection for e-commerce enterprises, and privacy laws are just a few of the legal issues that might influence Amazon.

Technological forces

Amazon’s foundation is technology. To serve its clients, Amazon is investing on technology in the form of cloud services (amazon application server).

Social forces

The firm will profit from the rising trend of online buying and greater consumption. The appeal of Amazon amongst youngsters and elderly individuals who do not want to leave their homes is due to its easy accessibility of items and doorstep shipment (Chaffey, 2021). Furthermore, the pace at which employment prospects are dwindling as Amazon relies on tech to substitute workers poses a risk.

Current target markets

The target demographic for Amazon is middle-and-upper-class consumers with home electronic devices such as laptops gadgets, who are equally divided between men and women. The customers are between the ages of 17 and 44. Furthermore, sixty percent of Amazon’s customer base is made up of Americans who prefer to purchase online for convenience, speed, and low pricing.

A Review of Current marketing

Amazon’s marketing strategy includes optimizing Amazon SEO, which aids users in finding items since Amazon’s web browser prioritizes well-described commodity queries. Additionally, Amazon has an associate’s scheme that enables webmasters to market Amazon items on their pages. Amazon makes money via memberships, commerce, and online services, all of which are employed in the marketing industry.

SWOT Analysis

Strengths

Amazon’s strengths include the fact that it makes the sales of its items at affordable prices which attracts a large number of end-users; it has a distinct product line and is number one in the retail industry; it invests heavily in research and development (technology) being the reason for using advanced systems and cloud-based financial reporting; and it can fulfill the wants of its clients, primarily because it sells a broad array of items.

Weaknesses

One flaw is Amazon’s refusal to provide food services, which gives rivals an edge. Amazon has been accused of evading taxes, resulting in unwanted press, as well as product failures such as the Fire phone, which have hurt the business’ profitability.

Opportunities

Amazon has the ability to make a diversification strategy and create its own In-House trademarks across a variety of product segments. It may potentially expand globally due to the lack of competition in these sectors. Outside of the United States, Amazon can assist consumers engage with the brand by creating physical locations, which will lead to increased repeat purchases.

Threats

One of the most serious risks to the profitability of Amazon is the growing concerns about online purchasing as a result of fraudulent activity and cybercrime, which exposes its customers’ personal information (Aiello, 2018). Furthermore, businesses like Apple, Google, and Microsoft have posed a challenge in both digital services and conventional e-commerce.

Strengths to Opportunities

One of the ways Amazon will grow its client base is by offering dining services. Because of its prominence and excellent delivery services, it has a good chance of succeeding. Amazon should use excellent marketing methods when launching a new product to guarantee that it succeeds. Because of the fraudulent activity, Amazon should take steps to reassure customers about the site’s security and privacy. In order to cope with competition, this corporation should not remain unaware of its domestic market circumstances while pursuing its worldwide plan.

Objectives in marketing

Amazon intends to develop shops without cashiers and that are more compelling (Amazon Go). The startup intends to use modern technology to change shopping by eliminating the need for consumers to wait (Swan, 2019). Given the rising worry about online buying, this will secure the safety of consumer items. Before July 2022, these shops will be equipped with technology.

References

Aiello. C. (2018). Competition and regulation pose greatest growth risks to Amazon, RBC’s Mahaney says. CNBC. https://www.cnbc.com/2018/09/04/mahaney-competition-and-regulation-pose-greatest-risks-to-amazon.html

Chaffey. D. (2021). Amazon.com marketing strategy: A business case study. Smart Insights. https://www.smartinsights.com/digital-marketing-strategy/online-business-revenue-models/amazon-case-study/

Swan. G. (2019). The Best 5 Amazon Marketing Strategies and Advertising Plans of 2021. ShipBob. https://www.shipbob.com/blog/amazon-marketing-strategy/

Sadq, Z. M., Sabir, H. N., & Saeed, V. S. H. (2018). Analyzing the Amazon success strategies. Journal of process management. New Technologies, 6(4). https://aseestant.ceon.rs/index.php/jouproman/article/view/19264