MKT/574 Strategic Marketing Plan Assignment

MKT/574 Strategic Marketing Plan Assignment
Kendra Thorpe
Strategic Marketing Plan
MKT/574 v1
Page 3 of 3
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Strategic Marketing Plan
Part B: Marketing Data Analysis
(Due in Wk 4)
Internal Data
Evaluate internal sources of information available to you inside the organization and what information you will receive from each source. Identify 3-6 sources of internal data. Insert or remove rows as needed.

Source
What it Measures
Data
Potential Usage

Advertisement expenditure
Amount spent on advertisement efforts.
Monthly advert expenditures
Useful in evaluating the percentage of money spent on advertisement

Accounting information
Profit or loss incurred by the business
Monthly losses and profits made by the company. It can be categorized per product
Helps a business to determine if it is making profit or operating at a loss

Transportation costs
The costs incurred by a business in transporting its products or staff
Monthly cost of transporting products
Helpful in assessing the amount spent by the company on transportation

 
Secondary Data
Evaluate secondary data sources and the specific information you need from each source. Insert or remove rows as needed.

Source
What it Measures
Data
Potential Usage

Published surveys
Reports on the performance of businesses
Major sales by a business
Useful when conducting market research

Newspapers
Measures major products sold in the market as well as markets with prospective consumers
Sales of competing
Useful in analyzing of the market

International agencies
Foreign market forecasts for example exports
Products exported or imported by countries
Useful in analyzing markets with best opportunities

 
Primary Data
Evaluate primary data needs to create and evaluate the marketing plan. Insert or remove rows as needed.

Source
What it Measures
Data
 
Potential Usage

Surveys
Customer satisfaction.
The number of existing customers who are satisfied with the company’s services or products.
Useful in enabling a business to identify unhappy customers, avoid losing customers as well as negative testimonials by customers in order to increase revenue.

Observations
Ease of website navigation.
The website conversion rate.
Identify any website navigation problems that may prevent visitors from successfully completing the customer journey.

Interviews
Consumer perception,
The number of the company’s products being purchased by consumers
Identify what products consumers are purchasing and why. Establish which products need improvement.

 
Customer Relationship Management
Establish customer touchpoints and develop appropriate CRM events for customer acquisition, retention, and profitability. Insert or remove rows as needed.

CRM Touchpoint
Purpose

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