Reference no: EM131516593
The Importance of Social Media and Web Analytics" Please respond to the following:
*From the scenario, prioritize the most significant components of a social media campaign according to the level of influence each could have on the new product launch. Examine both the social media tools that will provide the highest return on investment (ROI), and two (2) key performance indicators (KPIs) that one could use to measure success. Provide a rationale for your response.
*Use the Internet to research social media marketing strategies. Next, imagine that you are a manager of a retail store in a major mall with decreasing sales. Suggest two (2) ways that you can use social media in order to increase sales and promote your business. Provide two (2) examples of businesses that have used these methods and succeeded.
To conclude your marketing plan, in Assignment 3, you will describe the company's, marketing strategy, implementation strategy, expansion plan, social media strategy, monitoring methods, and integrated marketing communication strategy. Write a six to seven (6-7) page paper in which you:
1. Develop the company's branding, pricing, and distribution strategy.
2. Classify the company's major competitors as inter- or intra-competitors. Categorize the competitors' major strengths and weaknesses.
3. Develop the differentiation strategy in relation to the closest competitor.
4. Establish whether the company's intention is to be a leader or follower within the industry.
5. Specify two (2) social media and / or media tools that you would use as you develop your plan. Justify each of your chosen tools.
6. Suggest the integrated marketing communications that are most relevant for your marketing plan. Relate each marketing communication to your company's advertising strategy.
7. Use at least five (5) academic resources that address sustainability and monitoring of effective marketing plans and determine the applicability for your hypothetical company. These resources should be industry specific and relate to your chosen product / service.
Imagine that you are pitching your hypothetical service-based company's marketing plan to the Shark Tank Team for possible investment. Use a tablet, smartphone, laptop, desktop, or traditional video recorder to record a three to five (3-5) minute dynamic video in which you present your full marketing plan from Assignments 1, 2, and 3.
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Strategy in relation to the closest competitor
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