Assume the responsibility of the Head of Marketing of your organization or any organization that you are familiar with. Choose a particular product (good or service) in your organization and present a strategic marketing plan within the context of the New Marketing Realities.
The essence of the report is to help top management appreciate the changing marketing environment as it relates to your organization and your plan to gain competitive advantage in the industry the business operates.
EXPECTED
Use the framework below to answer and structure your work:
1. Briefly provide a background/context to your work by giving a brief marketing environment description of the external microenvironment of your organization using Porter’s five (5) forces framework
2. Briefly conduct an internal marketing audit to describe the marketing context of your organization in relation to:
a. Marketing strategy audit
b. Marketing function audit
NOTE: It is important to provide a comprehensive background (items 1&2 above) since the subsequent analysis will logically proceed from it.
3. Based on the issues addressed above, state in the form of a bulleted table, the deduced items in terms STRENGTH, WEAKNESS, OPPORTUNITIES, and THREATS
4. From a marketing manager perspective, describe the New Marketing Realities as it relates to your organization in terms of how it has impacted your business on:
a. Three (3) specific organizational capabilities
b. Three (3) specific customer capabilities
5. Spell out your specific marketing objective(s) for the product under discussion and the core strategy (target markets, competitor targets, and basis of competitive advantage)
6. Explain how you intend to deploy the marketing mix in an integrated manner in executing the strategy spelt out.
7. Explain a few marketing metrics you will put in place as a means to help execute the strategy
and also help as a control mechanism.
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