Market Strategy Plan

New Customer Segments

One of the new customer segments for the proposed marketing strategy is students. The company will provide value to this segment by personalizing product features to accommodate learning needs and engaging the target customers in product reviews to get their opinions on the proposed features and areas of improvement. The products will be marketed before being launched to get the customers’ opinions and assess their success in the market. The second segment is business professionals who require tablets and portable laptops to make business presentations. The company will provide value to this segment by offering a wide range of products that they can choose from based on their needs and preferences. The company will also use educational videos to explain product features and their advantages in the business segment to appeal to help the business professionals settle on the best product. The third segment is film producers looking for a platform to air their content. The company will create value for this segment by explaining the features of the Amazon Prime platform and the benefits film producers will get from using the platform. The company will also solicit feedback from the film directors and implement it to improve the services to develop customer satisfaction and loyalty.

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Marketing Mix for New Customer Segments

Products

The company will focus on device storage space and internet speed to personalize the students’ products. The assumption in making these adjustments is that students need fast internet speed to access learning material online and large storage to store learning material. The products targeting business professionals will be customized based on portability. The assumption is that business professionals need portable devices to carry around when traveling and during business presentations to create a professional image. The Amazon Prime platform will be adopted to include different genres and expand audience reach to different countries based on the target audience of different films on the platform.

Price

Price will be set based on product features and the target audience. The price for products targeting students will be slightly lower than those targeting business professionals based on the assumption that business professionals have a higher income than students. The price for Amazon Prime services for filmmakers will be set based on the popularity of the filmmaker, the audience showing interest in the film based on reaction to the trailer, and the film’s theme. Filmmakers with high popularity and whose films have the potential to reach a wide range of customers and become popular based on reaction to the trailer will be charged high.

Distribution

All the products will be distributed online due to the popularity of online purchasing in the digital era. According to Fihartini et al. (2021), customers have developed a preference for online shopping since the COVID-19 since the Covid-19 pandemic. Therefore, selling the products online will increase reach to a wide range of customers and allow customers to review product features before purchase, thus increasing customer engagement. The company will establish a distribution network worldwide by partnering with global distribution companies such as FedEx and DHL.

Traditional Promotion

The company will advertise the products that target students by distributing flyers and brochures in learning institutions. The company will also use television advertisements to inform customers across the three segments about the products and their features. Television advertisements will be structured to advertise all products at once to reduce the cost of advertising and inform customers about the wide range of products they can choose from based on their needs.

Online Promotion

The company will use content marketing in online promotion. Photos of different products will be posted online with a description of major features and advantages. The company will also use educational videos to inform customers about the product features and the differences between products across the same category, such as phones and laptops. Customer testimonials will also be used in the online promotion to inform customers about the product’s functionality.

Marketing Implementation

The marketing plan will be organized by market. The company will use different marketing communication channels for every market. For example, marketing to film producers will include using marketing communication channels that promote direct interaction, such as email and telephone marketing. Marketing to students and business professionals will include marketing communication channels that increase customer reach, such as social media marketing, television and radio advertisements, flyers, and brochures. The sales manager is responsible for marketing decisions. He will design the marketing message, mobilize the marketing team to implement the marketing plan, monitor the marketing plan’s success, and make any adjustments required to improve the marketing plan’s effectiveness.

Marketing Communication Channels

Channel	Target Market	Advantages	Disadvantages
Direct mail	Filmmakers	· Enables companies to personalize the marketing message to speak directly to customers, thus increasing marketing success. According to Schultz (2020), personalizing the marketing message creates a personal touch with customers, thus building trust between the brand and the customer. This relationship can be leveraged to increase sales and customer retention.	· Email recipients may find the emails annoying and redirect them to spam. · Costly and time-consuming.
Television	Business professionals Students	· Increases customer reach because many households watch television frequently. · Fosters empathy and emotion based on the marketing message used to describe a product or service.	· Expensive because companies and brands need to buy air time every time their advertisements are aired. · Requires frequent airing of ads because of other advertisements aired by competing firms. This could create monotony, making customers lose interest in the advertisement, especially if it interrupts their favorite programs.
Radio	Business professionals	· Radio advertising is cheap, thus increasing marketing cost-effectiveness. · Creates wide customer reach because radio stations operate over a wide geographical area.	· The marketing message may be misinterpreted if it is not clearly communicated. According to Kokemuller (2018), radio advertising also creates audience fragmentation because radio stations target a specific group of listeners.
Telephone	Filmmakers	· Cost-effective and allows companies and brands to answer customers’ questions.	· High risk of creating a bad company or brand image if a telemarketing agent is not professional.
Social media platforms	Business professionals Filmmakers Students	· Exposes a brand or company to a wide customer reach because every social media platform has a large number of users. · Increases customer engagement through feedback, reviews, and exchange of ideas about a product or service. · Enables a company and brand to gain access to customer insights.	· Negative customer feedback can harm the brand’s or company’s image. · Time-consuming.
Flyers	Students	· Enables a company or brand to provide as much information about a product or service as possible. · Enables the company or brand to target a specific audience.	· Flyers do not have a long-term impact on the target audience because they are disposed of after reading. · Flyers have also been attributed to environmental pollution due to improper disposal.
Brochures	Students	· The marketing message can be customized based on the target audience. · Companies and brands have access to various ideas on decoration and design to create visually appealing advertisements.	· The materials and prints used to make brochures are expensive, thus increasing marketing costs. · Space restrictions thus limiting the information that can be shared about a product or service.

Strategic Actions

Action	Date for Completion	Person/Role Responsible	Standard/Metric
Design the marketing message for the television and radio advertisements	30/10/2022	Mary Kay-Marketing manager	Approval by the legal and marketing team
Design flyers and brochures	30/10/2022	Brian Sean-Graphic designer	Approval by the marketing team
Design images for social media marketing	30/10/2022	Brian Sean-Graphic designer	Approval by the marketing team
Design promotional and educational videos	30/10/2022	Andrew Winchester-personal relations manager	Approval by the legal and marketing team
Monitor the quality of telephone marketing calls	15/11/2022	Martin Brookes-Quality assurance manager	Approval by the quality assurance team
Design social media marketing campaigns	15/11/2022	Mary Kay-Marketing manager	Approval by the legal and marketing team

Monitoring

Action	Target	Person Responsible	Inter-measurement
Designing the marketing message for the television and radio advertisements	300 new inquiries	Regional marketing manager	300 new inquiries within the first month of airing the advertisements
Designing flyers and brochures	500 new inquiries	Regional marketing manager	500 new inquiries within the six weeks the flyers will be distributed
Designing images for social media marketing	1500 new likes and 200 comments	Marketing manager	1500 new likes and 200 comments within the first month of social media marketing
Designing promotional and educational videos	2000 new likes and 200 comments	Marketing manager	2000 new likes and 200 comments within the first month of social media marketing
Monitoring the quality of telephone marketing calls	300 new inquiries	Customer relationship manager	300 new inquiries within the first month
Designing social media marketing campaigns	1000 new inquiries	Social media manager	1000 new inquiries within the first month

References

Fihartini, Y., Helmi, A., Hassan, M., & Marty Oesman, Y. (2021). Perceived health risk, online retail ethics, and consumer behavior within online shopping during the COVID-19 pandemic. Innovative Marketing, 17(3), 17-29. https://doi.org/10.21511/im.17(3).2021.02

Kokemuller, N. (2018). Advantages & disadvantages of radio advertising. Bizfluent. https://bizfluent.com/list-6140483-advantages-disadvantages-radio-advertising.html

Schultz, D. E. (2020). From direct mail to direct response marketing. A Reader in Marketing Communications, 116-132. https://doi.org/10.4324/9781003060420-5

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Question

Complete Part C of the Strategic Marketing Plan.

Class,

For week 6, you need to look at a marketing plan or business plan template for a format template. You do need a title page. Use section headings and follow the rubric as a check box. Set up your paper so it flows. You will need one conclusion at the very end of the paper. Please follow the rubric and use this message as a reference. Please don’t lose unnecessary points. Please let me know if you have questions.

Market Strategy Plan

Must define a new target market and make sure the marketing mix and advertising chart examples align with each other. Make sure your action items are spaced out over 3-12 months – don’t have them all end on the same date. The marketing mix should apply to the new target market and the new product – don’t retell the reader what the company does for its current marketing mix.

Market Strategy Plan