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Marketing Plan Project: FinalThroughout the four phases of this marketing plan project, you have created the important, detailed marketing plan sections necessary to enable your selected company to pr

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Marketing Plan Project: Final

Throughout the four phases of this marketing plan project, you have created the important, detailed marketing plan sections necessary to enable your selected company to prepare the business to launch innovative new products that are designed to increase sales to current customers and to reach potential, new customers within their target market segments.

This Unit VII Project represents the final assignment in a series of project assignments, which will complete the marketing plan for the company you selected in Unit III.

Rather than combining your previously completed sections (submitted in Units III–VI) into one document, in this final project, you are to summarize and condense each section that was previously submitted. The summarized sections should contain two to three paragraphs in your final marketing plan.

In addition, now that all the marketing plan sections have been completed, you can now create the plan’s executive summary. The executive summary is the most important part of the plan because it encapsulates all of the important strategy summary information and analysis shown in more detail throughout the other marketing plan sections in two to three paragraphs. Remember, the executive summary should only include information summarized and taken from the other marketing plan sections. It should be thorough but succinct.

As a review, the marketing plan consists of the following sections listed below.

  • Executive Summary
  • Situation Analysis

    • Market Summary
    • SWOT Analysis (i.e., analysis of strengths, weaknesses, opportunities, and threats)
    • Competition
    • Product Offerings
    • Distribution
  • Marketing Strategy

    • Objectives
    • Target Markets
    • Positioning
    • Strategies
    • Marketing Mix
    • Marketing Research
  • Financials
  • Controls

    • Implementation
    • Marketing Organization

Remember, the final marketing plan project should not contain information that was simply copied and pasted from previously completed assignments. Your Unit VII Final Project should contain a condensed summary of each of the sections previously submitted to form the concise final project. You should also include an introduction to your final marketing project. This assignment should be at least three pages in length and consist of the executive summary and the section summaries.

You should include the sources that you used in Units III–VI to support your sections for the marketing plan. Your sources should be from the CSU Online Library, but you may also include outside sources as well. All sources used, including the textbook, must be referenced and follow APA formatting, and quoted or paraphrased material must have accompanying in-text citations.

Marketing Plan Project: FinalThroughout the four phases of this marketing plan project, you have created the important, detailed marketing plan sections necessary to enable your selected company to pr
MBA 5841, Strategic Marketing 1 Cou rse Learning Outcomes for Unit VII Upon completion of this unit, students should be able to: 3. Contrast different product market strategies. 4. Evaluate an integrated marketing communication mix. 5. Create a budget to include marketing, financial, and production resour ces. 6. Classify concepts related to price and its impact on business strategies. 8. Develop an integrated comprehensive marketing strategy for an organization’s product offering. 8.1 Implement a comprehensive marketing plan for a company. Course/Unit Learning Outcomes Learning Activity 3 Unit VII Project 4 Unit VII Project 5 Unit VII Project 6 Unit VII Project 8 Unit VII Lesson Chapters 11 and 15 Unit VII Project 8.1 Unit VII Project Reading Assignment Chapter 11 : Energizing the Business Chapter 15 : Setting Priorities for Businesses and Brands Unit Lesson Domino’s Pizza, Inc. is a good example of how a company continues to create marketing strategies that will energize its brand. Aaker and Moorman (2018) describe three ways in which a company may energize its brand: create innovations to improve the offering, energize the brand and marketing, and increase existing customers’ usage. Under its current CEO, Patrick Doyle, Domino’s has demonstrated all three very well, producing impressive results. Domino’s is an international food franchise organization. It creates earnings and revenu e from the following revenue -producing areas of the business: sales of food, equipment and supplies to company -owned and franchised Domino’s stores, and royalties and fees from domestic and international Domino’s franchises. Considered to be UNIT VII STUDY GUIDE To Energize or Disinvest, That is the Question Domino ’s storefront (Kozlenko, 2013) MBA 5841, Strategic Marketing 2 UNIT x STUDY GUIDE Title a part of the limited -service restaurant industry, the company ranks just behind Yum Brands, Inc. , which owns Pizza Hut, KFC, and Taco Bell, and just ahead of Papa John’s Pizza ( “Dominos Pizza ,” 2018 ). Like most of its competitors in its industry segment, Dom ino’s of fers a varied menu , featuring its array of pizza toppings. In support of this staple, it also offers other entrees such as oven -baked sandwiches, bread side items, desserts, and chicken wings. Domino’s locations in areas such as Japan and Brazil have modif ied their pizzas to fit local culture flavor preferences (“Dominos Pizza ,” 2018). Its industry is very competitive. It is not uncommon for a successful company to have a sudden reversal of fortune, negatively impacting its bottom line and ability to compe te (like Chipotle, as was described in Unit III) . Domino’s has had its share of competitive challenges , which it has faced head -on, involving the participation of its customers. In spite of its challenges under the leadership of its current CEO, Domino’s h as grown steadily for most of the past decade. To achieve this, Domino’s has continued to build a top -flight leadership team skilled in domestic and international marketing as well as business operations. First, Domino’s has sought to innovate to improve its offerings. These innovations have gone beyond the product offering itself. Domino’s used to believe its customers only wanted their pizza delivered quickly. Taste and quality were subordinate to quick delivery. After listening to their customers, who liked and were supportive of the Domino’s brand, the company undertook an extensive overhaul of its pizza menu. They went so far as to hire a pizza chef to oversee the menu transition. Their innovative approach was to survey their current customers about t he taste of the previous pizza menu. The company paid particular attention to the worst comments offered by its customers. Once the new pizza menu had been successfully initiated, pizza deliveries were recorded by a camera crew and delivered by the new com pany pizza chef to the previous naysayers. Their surprised reactions were quickly replaced by expressions of delight at the improved new pizza taste. This campaign quickly changed the minds of those who previously thought Domino’s was not about good -tastin g pizza. Concurrently, the company began energizing the brand and marketing through its improved ordering campaign. In the past, pizzas were normally ordered via telephone. It was a lengthy, troublesome, and error – prone process. Domino’s began offering m ultiple ways for customers to us e technology to place their pizza orders more quickly and reliably. Most recently, Domino’s allowed its customers to order using Facebook Messenger. In June 2015, it allowed customers to text a pizza emoji as their order. Do mino’s CEO reflected on the large number of texts sent worldwide every year, which is estimated to be 8 trillion. From this, he concluded that Domino’s customers would benefit from ordering this way ( “9 Unique Marketing Gimmicks ,” 2017). The next technolog y ordering innovation was called the TV app. Launched in 2015, through its partnership with Samsung, the company created a TV app on Samsung Smart TVs. Once the customer profile was created within the TV app, customers could order their favorite pizza thro ugh the TV for either pick -up or delivery. Customers could then view their pizza delivery status via the pizza tracker on the Samsung TV app. Next, customers could utilize their smartphone using the Zero Click app. The order is placed by default , giving th e customer a 10 -second countdown timer to stop the order if it was placed by mistake. Next, there is the Smartwatch app that launched in March 2015 , which allow s customers to order from their smartwatch. It encouraged customers to use these new technologie s by offering discounts of up to 20 % when they ordered through these technologies ( “9 Unique Marketing Gimmicks ,” 2017). Domino’s delivery driver (Angela 2109 , 2007) MBA 5841, Strategic Marketing 3 UNIT x STUDY GUIDE Title Increasing the customer’s brand touchpoints was another achieved Domino’s goal when they announced wedding and baby registries, which is yet another way the company innovated around the customer experience. This was an example of how Domino’s energized the brand and marketing , differentiating it from its competitors within its industry sector (Haynes, 2017). As a part of an innovative idea for increasing customer usage of their product, Domino’s is partnering with the Ford Motor Company to establish a fleet of self -driving vehicles to deliver customers’ pizza. Additionally, as a part of their research, Domino’s is attempting to see if ha ving customers step outside to pick up their pizzas from the vehicles will have a negative effect on the customer experience. Through sustainable planning, the driverless fleet will initially consist of Ford Fusion Hybrids, and these specially built vehicl es are desi gned to send data back to Ford. All of these innovations and technologies will be working together to improve Domino’s offering s, energize its brand and marketing, and increase customer usage (Aaker & Moorman, 2018). The big opportunity for th e company and all of its competitors is the Super Bowl , where Domino’s plan s to deliver 1.2 million pies. With its 3,400 stores, customers can use this technology to preorder their game -day pizza to be delivered on time for the opening kickoff. The pizza tracker will enable customers to “find out whether the pie is being prepared, baked, boxed, or en route” ( “Domino’s Pizza Tracker ,” 2008 , para. 2 ). Domino’s has demonstrated that it is continually utilizing different ways to complement and enhance its cust omers’ experience with its products. The company has shown that , although good -tasting pizza is important to customers and for its brand, it has also looked for other ways beyond pizza to engage and excite its customers about its offerings. Domino’s has be en rewarded by building a loyal customer base, a strong brand, and has become one of the top leaders in its industry segment. The next question for Domino’s will be how these innovations can scale internationally . In addition to its innovative ways in whi ch it continues to energize its brand, Domino’s does so by not presenting itself as just another casual dining pizza provider. Originally, seeing itself as a pizza marketing company, Domino’s saw its revenues and profits rise steadily. When its marketing s trategies proved insufficient to continue growing to meet its stated objectives, Domino’s reexamined its core business. F rom this strategic analysis process, the company determined its customers desired two additional core business demands —a pizza product that was both delivered fast and also delicious as well as better, innovative ways in which to improve the ordering and delivery process using technology in ways not seen before by its industry sector. Domino’s customer commitment was strengthened by the success of these initiatives. Also, while in demonstrating its support through the implementation of these initiatives, Domino’s became a premier marketing company, delivering a great pizza and flavorful casual dining products while creating a sophisticat ed technology infrastructure for successfully supporting these initiatives. The company’s competitive advantage was fast pizza delivery at a value price. Next, Domino’s improved the pizza product itself , creating an additional competitive advantage while a lso extending its market reach. Finally, its technology investment in its ordering, tracking, and self -driving delivery systems also made it an information technology (IT) company, which was unique for competitors in its industry segment. From this conside rable technology investment, Domino’s can further engage and excite its customers through the many ways it provides for real -time interaction prior to the ordering process, during the ordering process, during the order preparation process, through the trac king of the delivery process, and finally , through the post -purchase process. All of these increased customer touch points have been designed to improve Domino’s customer satisfaction and improve its brand equity. Many of its competitors have at least one or two of the same competitive advantages, but none have all three , which makes Domino’s a market leader and strong competitor in a crowded, competitive industry segment. References Aaker, D. A., & Moorman, C. (2018). Strategic market management (11th ed.). Hoboken, NJ: Wiley. Angela2109. (2017). Domino’s delivery driver [Photograph]. Retrieved from https://commons.wikimedia.org/wiki/File:Domino%27s_delivery_driver.jpg MBA 5841, Strategic Marketing 4 UNIT x STUDY GUIDE Title Dominos Pizza, Inc. (NYS:DPZ). (2018). Retrieved from http://www.mergentonline.com. libraryresources.columbiasouthern.edu/companydetail.php?compnum ber=109104&pagetype=synopsis Domino’s pizza tracker mixes h igh -tech with Super Bowl XLII; A s the restaurant chain plans delivery of 1.2 million pies, the new service lets customers find out wh ether the pie is being prepared, baked, boxed, or en route. (2008, January 31). InformationWeek . Retrieved from http://link.galegroup.com.libraryresources.columbiasouthern.edu/apps/doc/A174089496/ITBC?u=oran 95108&sid=ITBC&xid=ff2d7399 Haynes, J. (2017, No vember 30). Expecting? Domino’s Pizza offers baby registry for new parents. Retrieved from http://www.mlive.com/business/ann – arbor/index.ssf/2017/11/dominos_pizza_now_offering_bab.html Koslenko , M . (2013). Dominos Pizza at Engadine, NSW [Photograph]. Retr ieved from https://commons.wikimedia.org/wiki/File:Dominos_Pizza_at_Engadine,_NSW.jpg 9 unique marketing gimmicks launched by domino’s in the last 3 years [Blog post]. (2017, February 3). Retrieved from http://www.mlive.com/business/ann – arbor/index.ssf/20 17/02/the_10_unique_marketing_gimmic.html Suggested Reading In order to access the following resources, click the links below. The fol lowing video brings a humo rous point about Domino’s pizza -tracking technology and delivery time. Advert.ge . (2017, March 22 ). Domino’s -home for pizza [Video file ]. Retrieved from https://www.youtube.com/watch?v=wqzX5hUoID0&feature=youtu.be Click here to access the video transcript . Customer satisfaction is very important in product pricing. While much research is focused on price increases, the authors in this article focus on how customer satisfaction moderate customers’ willingness to repurchase products that have undergone a price increase. Homburg, C., Hoyer, W. D., & Koschate, N. (2005). Customers’ reactions to price increases: Do customer satisfaction and perceived motiv e fairness matter? Journal of the Academy of Marketing Science , 33 (1), 36 –49. Retrieved from https://search -proquest – com.libraryresources.col umbiasouthern.edu/docview/224889090?accountid=33337 Learning Activities (Nong raded) Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit them. If you have questions, contact your instructor for further guidance and information. Chapter 11 Knowledge Check Complete the Chapter 11 Knowledge Check to gain a better understanding of the lesson. Click here to access the Chapter 11 Knowledge Check. MBA 5841, Strategic Marketing 5 UNIT x STUDY GUIDE Title Chapter 15 Flash Cards The following interactive presentation on Chapter 15 will assist you in better understanding the lesson. Cli ck here to access the Chapter 15 Flash Cards . (Click here to access a PDF version.) Chapter 15 “For Discussion” Questions Review the Chapter 15 “For Discussion” questions on page 281 in your textbook , and answer one to two questions. Submit your respons es to your instructor for relevant feedback.
Marketing Plan Project: FinalThroughout the four phases of this marketing plan project, you have created the important, detailed marketing plan sections necessary to enable your selected company to pr
Running head: UNIT III PROJECT 0 Unit III Project Marketing Plan Project: Phase 1 Executive Summary This marketing plan is intended for the business organization Wal-Mart, which is a public retailing company and operates throughout the world. The company has recently introduced a new range of products for infants, so it needs a marketing plan in order to advertise these products. The marketing plan is discussed in this paper along with SWOT analysis of the company so that the plan can be made in accordance with its strengths and weaknesses. Situation Analysis The company needs to introduce some new products and schemes related to infants. The marketing department wants to develop an effective marketing plan in order to expand its business through products for infants. Market Summary The current market of Wal-Mart has been very satisfied with how well the business is doing in different parts of the world. Schemes and special offers are regularly introduced by the public retailing company that makes its business unique as compared to the other business organizations of the same field. The shares of Wal-Mart in the international, as well as American markets, are continuously rising which indicates the success of its business strategies (McGee, 2018). SWOT Analysis Strengths: Wal-Mart is efficient in its products delivery due to the utilization of shipments that are both cost and route effective. The official website is also helpful as it creates convenience for the worthy customers. Weaknesses: Wal-Mart provides a limited number of memberships to its customers which are allotted with selective criteria. They also have not defined its mission statement properly despite the establishment of its business operations. Moreover, the quality of products is often compromised in order to achieve discount goals. Opportunities: The superstores of the company can be enhanced by using modern innovative technologies. Marketing is also untapped for the areas of Asia and the Middle East. There are many spaces in the European regions where the business of Wal-Mart can be expanded. Threats: The rigidity shown by the company in the prices of its products affects the business to maintain its position. The competitors are regularly coming up with the latest technologies that are giving them an edge over Wal-Mart (Morillo, McNally, & Block, 2015). The increasing price of fuel also directly impacts on the prices of all products. Competition There are many competitors of Wal-Mart which are continuously monitored by Wal-Mart management so that the business goals can be met effectively. These competitors include Amazon, Alibaba, Home Depot, IKEA, Costco, Lowe’s, eBay, ALDI, Jd.com, Walgreens, CVS, 7 Eleven, Target, Tesco, LIDL, Carrefour, Woolworths, and Kroger. In order to cope with this competition, Wal-Mart regularly upgrades its business strategies and product offerings. Product Offerings There is a wide range of products offered by Wal-Mart which primarily include fresh produce, meat, dairy items, deli items, household products, health items, cosmetics, and pharmaceutical products. Distribution The distribution operation of Wal-Mart is one of the world’s largest servicing stores, clubs, and wholesale retailing. There are more than 150 distribution centers which are the hub of its business activities all over the world. Marketing Strategy Objectives The purpose of this marketing strategy for Wal-Mart superstores is to advertise its new product range for infants. These products include attire, shoes, and nutrition items designed for infants. Target Markets The markets that will be targeted in this marketing strategy comprise of various European markets that will be completed in the first stage of the marketing process. After this, the markets of Asia and Africa will be targeted where such areas which specialize in the products of infants will be given due focus. Positioning Wal-Mart utilizes a mono-segment type of positioning which refers to the introduction of the marketing mix that is most suitable as well as beneficial for the targeted market and customer segment. Strategies The marketing strategy will be through local as well as international media in which social media marketing will be top priority due to its vast usage in the modern world. Marketing Mix Wal-Mart utilizes retailer’s strategy in its marketing mix which is considered as much success by the management of superstores business. There are five basic principles of marketing mix focused by Wal-Mart which are price, product, promotion, place, and people (Stankevičiūtė, Grunda, & Bartkus, 2012). Marketing Research Marketing research is a valuable process in order to effectively meet the goals of strategic marketing as it provides useful data related to various market segments as well as customer preferences. The data collected as a result of this research is utilized in the marketing strategies accordingly so that the goal of marketing are met in an efficient way. Financials The total revenues generated for the year 2017 were of $500,343,000 that was relatively greater than the previous three consecutive years. The gross profit for the same year was $126,947,000 that was also greater than the previous three consecutive years. Controls Implementation The marketing plan will be implemented after extensive requirement gathering and other research work, so that valuable data is collected in order to follow the marketing strategy. The marketing department of Wal-Mart will be primarily responsible for conducting this process with the help of its teams and other external entities when and where ever required. Marketing Organization The services of Mega-Marketing Association will be hired for the advertising of new products range for infants by Wal-Mart. References McGee, R. (2018). How Large is Walmart? A Comparison of Walmart Sales to Nationss GDP. SSRN Electronic Journal. doi: 10.2139/ssrn.3102735 Morillo, J., McNally, C., & Block, W. (2015). The Real Walmart. Business And Society Review, 120(3), 385-408. doi: 10.1111/basr.12060 Stankevičiūtė, E., Grunda, R., & Bartkus, E. (2012). Pursuing a cost leadership strategy and business sustainability objectives: Walmart case study. Economics and Management, 17(3). doi: 10.5755/j01.em.17.3.2143
Marketing Plan Project: FinalThroughout the four phases of this marketing plan project, you have created the important, detailed marketing plan sections necessary to enable your selected company to pr
Running head: MARKETING PLAN PROJECT – PHASE 2 0 Marketing Plan Project – Phase 2 Marketing Strategy Wal-Mart needs an effective marketing strategy to advertise and promote its new products range. This paper examines the objectives of this marketing strategy, the target markets, positioning, strategies, marketing mix, and marketing research that will be oriented for the advertising of superstore’s new products range. Furthermore, the paper will also discuss specifically as well as in detail various aspects associated with the marketing strategy designed for Wal-Mart. Objectives The purpose of this marketing strategy for Wal-Mart superstores is to advertise its new products for infants. These products include attire, shoes, and nutrition items designed for infants. This marketing plan is intended to advertise new products offered by Wal-Mart superstores. These products are specifically designed for infants and will include a variety of shoes, attire and nutrition items that can also serve as a competitive edge for the business of the superstore’s oriented company. Furthermore, this marketing plan will also address the markets that will be targeted by the marketing procedures of Wal-Mart. The marketing plan will also address the strategies that will be utilized in the marketing of new products besides discussing the marketing mix that will be followed in an attempt to reach the maximum quantity of customer audience (Hardy, 1981). Target Markets There will be various markets that will be targeted in the marketing plan for Wal-Mart’s new products. These markets will range from American to International level markets, more specifically the markets of central Asia where the company managers think that they need aggressive behaviors due to the expansion of the competitors in these markets. The targeted markets will be categorized into various segments based on customer densities associated with them besides other factors like demographics and environmental factors. The key factor in choosing various market segments will be based on categorization according to the age groups of customers in order to distinguish such markets that are specialized in the products or services related to infant children. Positioning The business procedures of Wal-Mart utilize a mono-segment type of positioning for the successful completion of its marketing procedures. This positioning refers to the introduction of such a marketing mix that is both suitable as well as beneficial for the markets that are targeted and the customers associated with those markets. The marketing mix, in this case, will be focused on infant-related products that are to be introduced by Wal-Mart for which the managers or policymakers of the business give special focus on the pricing and promotion strategies of their products. For this purpose, the company will introduce various promotional campaigns and activities to promote its new products and make people aware of their new offerings. Strategies The marketing strategy that will be adopted for marketing of new products of Wal-Mart will primarily utilize the social media marketing due to its excessive usage in the contemporary world of globalization (Faisal, 2016). The other platforms that will be utilized include print media, radio, television, and the internet. Various teams will be designed for different tasks of the marketing in order to divide the workload and complete each task efficiently. These teams will be administered by senior level management representatives who will collect reports related to the activities of their subordinates on a regular basis so that all the procedures can be monitored for efficient results of marketing strategies. Marketing Mix The aspect of the marketing mix is one of the top characteristics of effective marketing adopted by managers of Wal-Mart. The company utilized retailer’s strategy in its marketing mix which is considered as much effective and successful for business operations of superstores. There are five primary domains which are focused on the marketing mix adopted by Wal-Mart which are namely price, product, promotion, place, and people (Pulido, 2018). The aspects of place and people hold a special place in the priorities of Wal-Mart management and there are special people assigned with the tasks of analyzing the places and people for which the marketing or other promotional strategies are to be devised. The aspect of the product is focused in terms of quality so that the customer diversion can be prevented by achieving better business results. Marketing Research The Marketing research is an effective tool that provides valuable data for processing in different procedures of marketing strategies. Marketing research is a valuable process in order to effectively meet the goals of strategic marketing as it provides useful data related to various market segments as well as customer preferences. This tool also makes the business processes effectively meet the goals of strategic marketing as they provide useful data and information related to different market segments with special regards to customer preferences. The tools utilized for the collection of data in the marketing research will be traditional like interviewing and surveys in which the potential customers will be highly encouraged to participate. References Faisal, A. (2016). Marketing Strategies in Online/Digital Marketing. Account And Financial Management Journal. doi: 10.18535/afmj/v1i8.01 Hardy, L. (1981). Theatre Objectives and Marketing Planning. European Journal Of Marketing, 15(4), 3-16. doi: 10.1108/eum0000000004878 Pulido Polo, M. (2018). Acts or events? A perspective from the marketing mix. IROCAMM-International Review Of Communication And Marketing Mix, (1), 56-66. doi: 10.12795/irocamm.2018.i1.04

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