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In Topic 5, your team will develop a marketing plan to
support your marketing di
In Topic 5, your team will develop a marketing 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 (VP-Finance) 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:
Digital
marketing analysis and budgeting strategies: Based on your analysis of markets and consumer data, discuss the
decision to shift all or a portion of your division’s promotional budget
in the simulation to digital marketing.
Digital marketing
strategies for organizational growth: 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.
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.
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, and other factors.
Digital marketing
ties to relationship marketing: Explain
how your digital marketing strategy will improve relationship marketing
efforts and increase revenue.
Monitor digital
media: How will you monitor effectiveness and adjust your
strategy based on your division’s goals? What tools would you recommend to
measure the effectiveness of reaching these goals?
You are required to include both academic and professional
references (e.g., data on analytics, platform use data) to justify your plan.
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