General Submission Requirements
o Use a simple 12-point font such as Times New Roman.
o Your assignment should be the equivalent of approximately five pages of double-spaced text (although more are acceptable), approximately 1/2 page for each of the eight questions.
o You should use a minimum of six (6) references, four (4) of them dated 2016 to the present with all citations having an active free website for retrieval.
Part 1 – Integrated Marketing Communications, and the Changing Media Landscape1.
1. Integrated Marketing Communications. Considering your new target market and any modifications, new product line extensions or new products you may have developed to serve the new target market needs, create your ‘Big Idea” to be the basis of the message strategy for all your marketing communications.
Big Idea: To tech-savvy professionals, who believe in having great innovation at the tip of your fingers, The Ring Doorbell provides protection with a piece of mind, and safer all-around neighborhood together. Tone: caring, essential, interactive, economical
2. Marketing communications objectives. Write at least three marketing communications objectives using the AIDA framework discussed in the course content.
• Ensure 60% of target market is aware of the unique selling proposition within one year
• Distribute free samples to 25% of target market within 6 months
• 10% of target market purchases product within 9 months
3. Promotion mix. For each of the three marketing communications objectives written in number 2, discuss which of the promotion tools would be the best choice to reach each of the three marketing communications objective. One tool must be advertising (traditional or online) You may have more than one promotion mix tool for any given marketing communications objective.
4. Media strategy. Discuss at least two of your media choices that you believe will best reach your target market with your advertising. Social media INSTAGRAM will be used, discuss how they will be used to accomplish which objective. TELEVISION will be used, commercials before, during, and after of the product for highly watched shows.
Part 2 – Special Topics in Marketing
B2B Marketing, Marketing Information Systems and Measuring Marketing Activities
5. B2B marketing. Consider your product or service offering. Based on the categories of B2B markets discuss at least two of the B2B markets that could be a target market for your company. Why?
6. Segmenting B2B markets. Using the Harrison, Hague, and Hague behavioral-based segment model in the readings, which of those segmentation schemes might be most appropriate category for your company? Why?
• Price – focused segment
• Quality and brand – focused segment
• Service – focused segment
• Partnership – focused segment
7. Marketing Information Systems. Identify at least three types of information your company should use in a comprehensive marketing information system for decision making purposes. Why did you chose each of them?
• Internally Generated Data and Reports
• Marketing Intelligence
• Marketing Research Information
8. Marketing Metrics. Identify and discuss at least one financial metric and three performance metrics that would be important to monitor your company’s strategic marketing planning for the marketing efforts you identified for your new marketing mix strategies.
Financial Metric (1)
• Pre-tax net profit margin. This metric is probably the most important, because it tells the owner how much profit you’re making from every dollar in sales. For private companies, it is usually expressed as net profit before taxes in a given financial period divided by sales.
Performance Metrics (3)
• Quality. Such as customer perceptions of the Ring brand.
• Customer Satisfaction. Measuring performance from the customer perspective by asking them how satisfied they are with products or services.
• Implementation of Strategies. Strategic implementation is how you ensure that your business actually follows particular strategies