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One of the challenges of the virtual marketplace is to create marketing plans that include search marketing or pay-per-click advertising options to help communicate online the company’s products and service opportunities combined with a hybrid plan that still takes traditional channels into account. The most effective advertising pushes the customer to the web, no matter what advertising channel is used.
A marketing plan is part of the company’s business or strategic plan, which is focused on meeting:
Company quantitative goals, such as revenue and market share reach
Company qualitative goals, such as brand awareness and community goodwill
Creative Ideas: Your Customer’s Reason to Believe in the Product: This week, detail the promotional plan by defining the following:
What is the overall marketing message for your promotional and advertising plan?
Prepare 2 advertisements for cross-selling between traditional Web formats. The following are examples:
A magazine or some other type of print ad that promotes the company’s Web site and/or specific product.
A banner ad or paid-search ad that advertises the company’s Web site
Develop a 1-year media calendar focusing on a traditional and online hybrid of 4 media platforms. One platform must be a social media site. Your advertising budget is $10 million. Detail out each media platform and the months you will run your advertising. Media schedules can include a continuous plan—meaning you advertise throughout the year; a pulsing plan—advertising more intensively in certain months; and a flighting plan—advertising only during certain months of the year.
Include this section in your Key Assignment draft. Your Key Assignment draft is the plan based on the research you have done during Weeks 1–3. Next, as you prepare the plan draft, outline the information to be included in the following sections:
Executive Summary: This section highlights the key points of the plan.
Situational Analysis: This section includes the following:
The target market segments, which include details about demographics, psychographics, current environments, industry trends, and anything that creates a snapshot of what is currently going on in the industry
Product Strategy: This section includes what products are being sold, a description of the products, and their features and benefits.
Competitive Analysis: This section includes a strengths, weaknesses, opportunities, and threats (SWOT) analysis and any other necessary competitive information. ·
Customer Profile: Use the information from Phase 2 showing your target customer.
Marketing Goals: This section explains what you are trying to accomplish.
Marketing Objectives: This section includes how the marketing plan will meet the objectives of the business plan.
Strategic Initiatives: This section includes information about how the product is positioned in the marketplace and “market space,” differentiation strategies, pricing, and distribution.
Tactics: This section details what tactics you will use to implement and meet the marketing goals. It includes the promotional plan, including advertising and promotional campaigns, along with a media plan.
Budget: The budget includes information about where you will spend the money. You have a $10 million advertising budget.
Conclusion: This reiterates the key points of the plan and what will be accomplished, including the following:
How you will win in the marketplace and virtual environment.?
Possible barriers to success
How results and marketing return on investment (ROI) will be measured. Consider an analytical tool online to help view web page visits and clicks on specific advertisements.
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