develop marketing objectives and marketing strategy
In this assignment, you will develop marketing objectives and marketing strategies based on the challenges and opportunity you identified in Week 5. As you develop the plan, keep in mind that—in addition to innovation in ideas, processes, and products—innovation is needed in communication with the market. You should review the trends that are now referred to as Web 4.0.
To complete this assignment, please use the following outline. The outline explains what is included in each of the sections of the Marketing Strategy Section.
I. Marketing Objectives
A. Describe marketing objectives in terms of sales or market share.
II. Marketing Strategy
A. Describe the marketing mix decisions of product, price, place (distribution), and promotion; then discuss why the strategy was selected.
III. Product
A. The product decisions should consider the product’s advantages and how they will be leveraged. Product decisions should include:
1. Brand name
2. Quality
3. The scope of the product line
4. Warranty
5. Packaging
IV. Price
A. Discuss pricing strategy, expected volume, and decisions for the following pricing variables:
1. List price
2. Discounts
3. Bundling
4. Payment terms and financing options
5. Leasing options
6. Place (Distribution)
V. Decision Variables
A. Distribution channels, such as direct, retail, distributors, and intermediates
B. Motivating the channel—for example, distributor margins
C. Criteria for evaluating distributors
D. Locations
E. Logistics, including transportation, warehousing, and order fulfillment
VI. Promotion
A. Advertising, including how much and which media
B. Public relations
C. Sales promotion
D. Digital marketing
Support your paper with a minimum of three scholarly/peer-reviewed resources published in the last 5 years. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
Reference
Proctor, T. (2000). Strategic marketing. [electronic resource] : an introduction. Routledge.
FULGONI, G. M. (2018). Are You Targeting Too Much? Effective Marketing Strategies for Brands. Journal of Advertising Research, 58(1), 8–11.
Varadarajan, R. (2018). Advances in strategic marketing and the advancement of the marketing discipline: the promise of theory. Journal of Marketing Management, 34(1/2), 71–85.
Jaworski, B. J. (2018). Commentary: advancing marketing strategy in the marketing discipline and beyond. Journal of Marketing Management, 34(1/2), 63–70.
