MKT 6120 (MBA) Marketing Management

I’m studying for my Management class and need an explanation.

#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

#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

#10 Marketing Management Plan Draft #5: Product Planning and Communications

The impact that the advice will have on your plan or correspondence

Product Planning: Product Life Cycle (Version #1)

Watch , and write down where in the product lifecycle, your product is.

If applicable, write down the most important thing that you need to focus on to be ready for the next step.

Product Planning: Crossing the Chasm (Version #1)

Watch and, if your company is launcing something that is new and innovative that requires significant change for your customers, write down whether your customer are:

Innovators

Early Adopters

Early Majority

Late Majority

Laggards

If applicable, write down the most important thing that you will need to do to be ready for the next step.

Communications: Integrated Marketing Campaign (version #1)

Marketing Managers think in terms of putting multiple pieces together in a way that has a greater impact than the individual pecies alone.

Watch and write down at least three components of an Integrated Marketing Campaign. Your IMC can include components such as:

Event (ex. tradeshow, conference, meetup, sports)

Online (ex. social media post, webinar that you could do, event that you could live stream)

Email (ex. an email topic that you could send)

Direct Mail (ex. flyer, postcard, letter)

Promotion/Offer (ex. an offer that you could make)

PR (ex. endorsement or joint venture with someone well known)

#11Correspondence #5: Note to Marketing Team

Preparing an Integrated Marketing Campaign

Write a quick note to your Marketing Communications Team asking them to prepare an Integrated Marketing Campaign.

You do not have to write out the entire campaign, or tell them how to do it, but you do need to include the key elements such as:

Who the IMC is for (Target Market)

What you want your target market to do as a result of the campaign…what action(s) do you want your target market to do such as

drive people to your website

understand why you are better than a competitor

tell a friend

bring a friend

register for an event

The key elements such as:

tv

radio

social media

direct mail

events

video

PR

Include a link to a video of you talking through your Marketing Management Plan Draft.

#12 Collaboration Week #

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

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**************************************

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