Strategic Marketing Plan Summary
I was able to develop various competencies in researching and writing the comprehensive course project. Some of the competencies I leveraged were critical thinking skills, decision making, teamwork, communication,and career motivation. I applied the knowledge I acquired in the intellipath assignments in completing the comprehensive project. I applied the concepts and skills I learned in the assignments to the project. The assignments helped me learn new things that I used to the project. It gave me a jump-start into the flow, structure,and objectives of the project. The knowledge I have acquired through the assignments and project will come in handy in my career advancement in management. It will prepare me for what to expect in the workplace and help me adapt and climb up the ladder. They have given me motivation in my management career.The teamwork skills I have acquired will help us work collaboratively with my colleagues and learn from them. The critical thinking skills will help me navigate through problems and come up with solutions.
A strategic marketing plan contains company positioning, strategies,andgoals, market opportunities, defined target market and marketing budget(Lake, 2018). One of the organisation’sgoals is to improve brand image and recognition. My marketing plan defines the most suitable promotion method and media to use torealise the desired outcomes. Part of our mission is to better lives through quality products and gainful employment. My marketing plan will improve product design to reach a broader market and also increase sales and profits. My plan will involve hiring more personnel and thus improve lives.Our target audience iscollege, high-schoolstudentsand single moms. We are targeting them because of their preference forquality, affordable products. Students are a god target market because most of them are not working or do some side hustles and thus lean towards products with pocket-friendly prices. Single moms also enjoy saving a buck.
I will use customer relationship management to ensure loyalty to my brand and product. I will give customers awesome discounts for bulk purchases and referrals. I will listen to customer feedback about our products and brand. We will handle customer criticism and complains constructively and try our level best to handle assistance.We will ask customers what they love about our products and where we could improve. By engaging them through their feedback and prompt response to their complaints, they will see that we care about them and value them. As a result, we will strengthen our relationship and improve customer loyalty.
Technology plays a major role in strengthening our customer relationship management plan. We will use social media to interact with our customers.Social media helps businesses to engage with their customers, offer support services, build brand and product awareness, grow without incurring expensive costs, and demonstrate authenticity and authority(Schmid, 2018). We will use social media to offer support services such as responding to customer concerns, questions, and criticism.
References
Lake, L. (2018). What to Know About Strategic Marketing Plans. Retrieved from https://www.thebalancesmb.com/what-is-strategic-marketing-plan-4043393
Schmid, V. (2018). Why Social Media Is Important for Business Marketing | Marketing Insider Group. Retrieved from https://marketinginsidergroup.com/content-marketing/why-social-media-is-important-for-business-marketing/