In 500-750 words, address the following four questions
Business Finance
Outline
In Topic 5, your team developed a business plan to support your marketing division and justify an additional capital investment from corporate headquarters to move forward. Digital marketing is a critical part of marketing strategies today because of the prevalence of social media and other web-based technologies, online media outlets, and mobile Internet and applications.
*Based on the current position of your new division in the simulation and your goals for coming quarters, analyze market consumer data, competitive data, and real-world digital marketing options to develop a summarized digital marketing plan for your division that benefits growth and considers competition. In 500-750 words, address the following:
1. Digital marketing strategies for your division: Discuss the decision to shift all or a portion of your division’s promotional budget in the simulation to digital marketing. Discuss the digital marketing strategies that will be used to promote organizational growth. Consider factors including B2B verses B2C considerations in digital media, target market coverage, exposure, analytics, and costs.
2. Digital media impact: How would the addition of digital media options influence your division’s overall promotional plan? Consider the five elements of the promotion mix.
3. Digital media types and options: Include examples of specific social media platforms, blogs, websites, applications, etc., and a justification for each based on your division’s goals. Use real-world data by researching the outlets/platforms, reviewing media kits when available, and citing available sources on exposure, targeting options, etc.
4. Monitor digital media: How will you monitor effectiveness and adjust your strategy based on your division’s goals?
**You are required to include both academic and professional references (e.g., data on analytics, platform use data) to justify your plan.
***Prepare this assignment according to the guidelines found in the APA Style Guide.
****This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
****You will be graded on (Rubric):
1. Digital Marketing Strategies (1.2 and 7.2: Leverage digital marketing strategies to promote organizational growth.): The digital marketing strategies for your division include a comprehensive description on the decision to shift to digital marketing to promote organizational growth. The additional factors that were considered in the decision are included with detailed reasoning that supports decisions.
2. Digital Media Impact: The marketing plan includes a comprehensive description for the digital media impact and its influence on the overall promotional plan.
3. Digital Media Types and Options: The digital media types and options are included. There are clear details on specific social media platforms relating to division goals. Real-world data is included to support the digital media option selected for the division.
4. Monitoring Digital Media: Methods for monitoring digital media are included with clear details on effectiveness and strategy to meet division goals. There is a clear plan for modifications when necessary.
5. Methods of Marketing and Consumer Research (2.4 and 8.4: Analyze markets and consumer data to inform marketing strategy.): The plan includes evidence of relevant, current, and quality research. The description analyzes marketing and consumer data to thoroughly validate digital marketing strategy decisions for the plan.
6. Documentation of Sources (citations, footnotes, references, bibliography, etc., as appropriate to assignment and style): Sources are completely and correctly documented, as appropriate to assignment and style, and format is free of error.
