Marketing Research Efforts and their Alignment with the Vision, Mission, and Values of the Organization

Marketing Research Efforts and their Alignment with the Vision, Mission, and Values of the Organization

To: CMO

From:

Subject: Marketing research efforts and their alignment with the vision, mission, and values of the organization

Date: 21^st February 2022

Greetings.

The Marketing Research Efforts that Should be Conducted Before Establishing a Strategic Direction

We aim to increase our market share by meeting customer needs and preferences and introducing new products that attract many customers. To achieve this, we will need to conduct consumer research to identify our customer’s demographics and the most appropriate marketing strategies to reach them.

Market Demographics that Should Be Chosen

The primary marketing demographics that should be chosen are age and occupation. According to McDonald & Dunbar (2012), age and occupation help determine customer preference and ability to pay for products and services. Age will help design the most appropriate offerings to include in the park. To maintain a long-term competitive advantage, we need to ensure that our offerings are as relevant as possible to the highest population in our customer segment (Dibb & Simkin, 2008). We also need to understand the needs and preferences of our target market and the exciting amenities that will make them prefer our theme park over our competitors. Occupation will help us determine the cost of the offerings in the park (Wedel & Kamakura, 2012). We need to consider the income of our target market so that we can set affordable prices.

Marketing Channels that Are Most Suitable for the Purpose

The most suitable marketing channels will be social media platforms and magazine ads. Social media channels are ideal because they will enable us to post photos that catch the interest of our target market and videos demonstrating what customers should expect when they visit the park. Magazine ads will also help us demonstrate the unique features of the par and what we offer. We can also use magazine ads to list our prices and discounts.

The Key Factors of Vision, Mission, and Values in Relation to Strategic Direction

How the Values of the Organization would Influence the Marketing Strategy

We aim to create a long-term, mutually beneficial relationship with our customers by treating every customer and employee with dignity and respect, being accountable, creating value diversity and inclusion, being transparent, caring for our planet, acting with integrity, supporting innovation, empowering employees to do the right thing, making it better, fun, unique and long-lasting. We also intend to collaborate with our customers to become the world’s theme park destination of choice and be the leading global theme park company by providing our guests with the world’s best entertainment experience.

Our values will play a significant role in influencing our marketing strategy. For instance, we will uphold transparency and act with integrity by posting pictures taken in the park to ensure customers get an accurate picture of what is offered. We will also put most of our efforts into online marketing to prevent polluting the environment due to the poor disposal of leaflets and flyers distributed to customers. Handouts will also be placed in mailboxes to prevent littering. We will also ask customers for consent to use their experiences and testimonials in our marketing campaigns on social media platforms.

Marketing Strategies that Can Help Ensure Successful Reopening of All the Parks

How Marketing Strategies Support the Decision to Reopen the Parks

Successfully reopening the parks requires convincing our existing and potential customers that we can meet their needs. We also need to convince our customers that the parks have put the proper measures in place to protect them from Covid-19 infection. The two marketing strategies that can help ensure the successful reopening of the parks are video marketing and referrals. Video marketing supports our decision to reopen the parks by showing our existing and potential customers that we have resumed operations and put measures in place to protect their health and safety due to the current Covid-19 pandemic. Referrals support the decision to reopen the parks by passing information on our friendly prices and sanitation measures.

References

Dibb, S., & Simkin, L. (2008). Market segmentation success: Making it happen! Routledge.

McDonald, M., & Dunbar, I. (2012). Market segmentation: How to do it and how to profit from it. John Wiley & Sons.

Wedel, M., & Kamakura, W. A. (2012). Market segmentation: Conceptual and methodological foundations. Springer Science & Business Media.

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Marketing Research Efforts and their Alignment with the Vision

Overview

A target audience is determined by understanding who your product or service appeals to and who is most likely to use those products or services. There are various forms of research that can assist in this determination, including Google Analytics, Facebook Audience, and multiple forms of consumer research, including surveys, focus groups, and, importantly, learnings from your current customer base and profile. You have already been provided with the target audience for the theme park. Now it is time to move onto aligning your marketing research efforts to further connect with the target audience.

You have already worked on the strategic marketing plan template, which contains a plan to address the park’s reopening needs. The CMO now requires you to determine the needed marketing research effort and additional clear marketing strategies to connect with the target audience and their alignment with the vision, mission, and values of the global park organization. It will be critical to keep the organizational parameters of vision, mission, and values in mind as the strategies are determined and ultimately executed.

Prompt

Draft a memo to the CMO outlining the marketing research efforts and their alignment with the vision, mission, and values of the organization in the course scenario. You must share two marketing strategies as well.

Specifically, you must address the following criteria:

1. Describe the marketing research efforts that should be conducted before establishing a strategy. Consider the following: What market demographics should be chosen?

What marketing channels are most suitable for the purpose?

2. Refer to the Theme Park Vision, Mission, and Values of the organization and address the key factors of vision, mission, and values in relation to strategic How would the values of the organization influence the marketing strategy?
3. Determine two marketing strategies that can help ensure the successful reopening of all the parks. Explain how these strategies support the decision to reopen the parks.