Identify and discuss at least one financial metric

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Reference no: EM131109930

• Direction

• This assignment assesses your ability to relate integrated marketing communications concepts to your product or service offering and the target market you selected. Here you will let your creative side shine as you think through how you would design the marketing communications for your product or service to effectively and efficiently communicate a clear, consistent and compelling message to your target market over the next year.

• The course content does not cover IMC in great detail and you may want to refer to some open source references for more information on message design. A good one is: https://www.caad.au.edu/attachments/article/43/Class%207-Creative%20IMC%20Message%20Strategies.pdf

• . There is no need to repeat the question.

1. Integrated Marketing Communications. Considering your new target market and any modifications, new product line extensions or new products you may have developed to serve the new target market needs, create your 'Big Idea" to be the basis of the message strategy for all your marketing communications.

2. Marketing communications objectives. Write at least three marketing communications objectives using the AIDA framework discussed in the course content. Be sure your objectives are very specific; an objective such as "Increase market share" is too general. A specific example would be: To increase market share among married couples aged 30 - 40 by 5% in 6 months.

3. Promotion mix. For each of the three marketing communications objectives written in number 2, discuss which of the promotion tools would be the best choice to reach each of the three marketing communications objective. One tool must be advertising (traditional or online) You may have more than one promotion mix tool for any given marketing communications objective.

4. Media strategy. Discuss at least two of your media choices that you believe will best reach your target market with your advertising. Be specific with your choices, e.g. HGTV, Rehab Addict, because the product or service is targeting a do-it-yourself target market, or Home Depot website banner ads for the same target market. Or Morning TV National News, Good Morning America and The Today Show, 1st hour because your target market is educated urban workers. If using social media, discuss which social media and how they will be used to accomplish which objective.

No more than two pages and no more than 3 references

Paper 2. Product Diet Coke

• This writing assignment closes the loop on strategic marketing planning in that it identifies the types of marketing strategies the company might employ to market its offering through the value chain prior to its final customer. Also, strategic planning is useless unless there are reliable and useful sources of inputs and a way to organize the data to be used in the planning process decision making; and metrics need to be in place to measure how successful (or not so successful) the strategies to reach marketing objectives have been. Strategic marketing planning then becomes an ongoing process of measuring and adjusting to new information and current conditions.

• Many of your responses to these questions will be your best educated and informed (as much as possible) information on your product or service offering's company. Where concrete information is not obtainable, you should use your judgment and to describe why you made your judgment call.

• Prepare your assignment beginning with a title page to include your name, your product or service and your target market. Then respond to each of the following four questions in order and identify the number of each response. There is no need to repeat the number of the question.

1. B2B marketing. Consider your product or service offering. Based on the categories of B2B markets discussed in the readings, name at least two of the B2B markets your company may be a target market for another company. Why?

2. Segmenting B2B markets. Using the Harrison, Hague, and Hague behavioral-based segment model in the readings, which of those segmentation scheme might be most appropriate category for your company? Why?

3. Marketing Information Systems. Identify at least three types of information your company should use in a comprehensive marketing information system for decision making purposes. Why did you chose each of them?

4. Marketing Metrics. Identify and discuss at least one financial metric and three performance metrics that would be important to monitor your company's strategic marketing planning for the marketing efforts you identified for your new

5. marketing mix strategies.

2. No more than two pages and no more than 3 references

Reference no: EM131109930

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