Reference no: EM131318428 , Length:
This part of your Marketplace Live simulation assignment is individual. You will present the content to your team members and determine an appropriate digital marketing plan to include in your Marketing Plan assignment.
At this point, your team has developed a Marketing Plan to support your marketing division and justify an additional capital investment from corporate headquarters to move forward. Digital marketing is a critical part of marketing strategies today because of the prevalence of social media and other web-based technologies, online media outlets, and mobile Internet and applications.
Based on the current position of your new division in the simulation and your goals for coming quarters analyze the market research data, competitive data, and real-world digital marketing options to develop a summarized digital marketing plan for your division that benefits growth and considers competition. In 500-750 words, address the following:
1. Digital marketing options for your division: Discuss the decision to shift all or a portion of your division's promotional budget in the simulation to digital marketing. Consider factors including B2B verses B2C considerations in digital media, target market coverage, exposure, analytics, and costs.
2. Digital media impact: How would the addition of digital media options influence your division's overall promotional plan?
3. Digital media types and options: Include examples of specific social media platforms, blogs, websites, applications, etc. and include a justification for each based on your division's goals. Use real-world data by researching the outlets/platforms, reviewing media kits when available, and citing available sources on exposure, targeting options, etc.
4. Monitor digital media: How will you monitor effectiveness and adjust your strategy based on your division's goals?
You are required to include both academic and professional references (e.g., data on analytics, platform use data) to justify your plan.
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Quarter 1
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Quarter 2
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Quarter 3
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Quarter 4
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Quarter 5
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GROSS PROFIT
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Revenues
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0
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0
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86,500
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1,994,000
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1,784,000
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- Rebates
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0
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0
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1,200
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49,100
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44,000
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- Cost of Goods Sold
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0
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0
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58,003
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1,605,267
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1,473,901
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= Gross Profit
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0
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0
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27,297
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339,633
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266,099
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EXPENSES
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Sales Office Leases
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0
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0
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160,000
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160,000
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160,000
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+ Sales Force Expense
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0
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0
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194,659
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147,000
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147,000
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+ Brand Promotions
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0
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0
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0
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0
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0
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+ Special Programs
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0
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0
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0
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0
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0
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+ Ad Creation/Revision
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0
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0
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60,000
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60,000
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60,000
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+ Point of Purchase Display Expenses
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0
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0
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400
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800
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800
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+ Advertising Expenses
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0
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0
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33,879
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34,000
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34,000
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+ Engineering Cost for New Brands
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0
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60,000
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0
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60,000
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0
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+ Market Research
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88,000
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0
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40,000
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0
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40,000
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= Operating Expenses
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88,000
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60,000
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488,938
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461,800
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441,800
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Operating profit
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-88,000
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-60,000
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-461,641
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-122,167
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-175,701
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MISCELLANEOUS INCOME AND EXPENSES
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+ Other Income
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0
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0
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0
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0
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0
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- Other Expenses
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0
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0
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0
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0
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0
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- Research and Development Costs
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0
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0
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0
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0
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0
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- Set Up Costs for New Sales Offices
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0
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230,000
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0
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0
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0
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= Net Profit for Division
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-88,000
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-290,000
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-461,641
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-122,167
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-175,701
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Cumulative Net Profit for Division
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-88,000
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-378,000
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-839,641
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-961,809
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-1,137,510
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