Part 2 of the assignment for part B and C. Fill out the attached word form.
Strategic Marketing Plan
Part A: Environmental Analysis and SWOT Analysis
(Due in Competency 1 Assessment)
Describe the company Mcdonalds you are designing the plan for. Include:
· Mcdonalds Mission Statement
· Mcdonalds Vision Statement
· Mcdonalds Product line description
· Mcdonalds Company information, such as the size of the company
Analyze the forces that affect Mcdonalds andmarketing efforts.
Analyze the Mcdonalds key competitors. You may chooseto use a BCG Matrix or attribute checklist to compare your company against itscompetitors. Describe any strategic moves the competition has recently made.Estimate your market share. Identify key competitive advantages against yourcompetitors.
Analyze the economic environment in the areasaffecting your business. Consider differences within your industry and theeconomic impact on suppliers.
Analyze relevant political forces. Examples mayinclude an election year or a law to drastically reduce or eliminate plasticwaste in your county.
Legal, Regulatory, and Ethical Issues
Analyze the legal, regulatory, and ethical issuesthat may affect your business. Considerations may include local laws such as a banon the use of plastic bags, the ability to post billboards, or a possibleincreased regulation on direct mail.
Analyze whether your company will be affected byemerging technologies or trends in hardware and software industries
Analyze social trends and how they may affect yourbusiness. Considerations may include if your business will be affected bydemographic trends, a growing dependence on computers, or whether interest inyour product might be affected by growing preferences in the way things aredone or changing social values.
Current Target Markets
Define the company’s current target markets. Describethe demographic, geographic, psychographic, and product usage of these targets.
Review Current Marketing
Review the company’s current marketing tactics. Considerhow people find out about the product, how they get information about theproduct or service, what might be involved in the buying process, and what moneyis available for marketing. If your company is a start-up, describe yourcompetitors’ current marketing.
Assess your company’s strengths, weaknesses, threats,opportunities, and then evaluate how to address these in your marketing plan.
Assess your company’s competitive advantage. Considercore competencies, assets, location, practices, etc. that are distinct in theway the organization meets the needs of its customers.
Assess what limits the company may have in itscurrent marketing strategy. Consider if there is a company weakness that needsto be addressed through Public Relations or Marketing.
Assess the opportunities you see based on trends orenvironmental conditions.
Assess the threats or limitations that may interferewith the company’s ability to meet its objectives or interfere with marketingplans.
Strengths to Opportunities & Converting Weaknesses and Threats
Convert weaknesses and threats to strengths, then strengthsto opportunities in the marketing plan. Consider the implications foraddressing supplier relationships, implementing new technologies, or changingthe product line or addressing new markets.
Establish marketing objectives based on the resultsfrom the SWOT analysis. Marketing objectives must align with corporateobjectives, modified by the company’s resources. Objectives should include adate for the completion of the objective and the way in which success will bemeasured. For example: The company will expand its marketing efforts to includea new market segment of 21- to 29-year-olds. This will entail the developmentof a customized product by June 2020 that will address the specificpsychographic and technological needs of this age group. This strategy isexpected to attain a 20% growth in overall sales by January 2020. Customerloyalty (willingness to recommend the product) will increase by 30%.
Part B and C fill out attached Word form and answer all parts.
Part C: Market Strategy, Marketing Channels, Implementation,and Monitoring
(Due in Competency 3 Assessment)
New Target Markets
Determine any new markets for your strategy and describehow you will provide value to each target market.
Marketing Mix forNew Target Markets
Determine adaptions for each new target market.
· Traditional Promotion
· Online Promotion
Create the implementation for your marketing plan. Describehow you will organize and implement the plan, such as whether it will be organizedby market, geography, and who is responsible for marketing decisions.
Marketing Communication Channels
Evaluate the marketing communication channels youwill use to reach selected audiences. Include Internet and traditionalcommunication channels to convey key messages. Describe the advantages anddisadvantages of each channel you select. Insert or remove rows as needed.
Example: Direct mail
Middle class residential
Can include coupons
Expense and low return rate for given product
Develop specific activities required to implement themarketing plan. Identify the person or role who will be responsible for eachaction, when it will be complete, and what standard or metric indicate that theactivity is complete. Insert or remove rows as needed.
Date for Completion
Example: Design flyer for direct mail campaign
J. Smith, graphic designer
Approval by senior marketing team and legal
Develop the measurement to identify how you know youhave been successful for each strategic action. Specify the measures to trackperformance against goals. Identify standard reports from your online andtraditional marketing efforts. Insert or remove rows as needed.
Example: Direct mail flyer
1100 new inquiries
Western regional manager
500 new inquiries first month of campaign