This writing assignment closes the loop on strategic marketing planning in that it identifies the types of marketing strategies the company might employ to market its offering through the value chain prior to its final customer. Also, strategic planning is useless unless there are reliable and useful sources of inputs and a way to organize the data to be used in the planning process decision making; and metrics need to be in place to measure how successful (or not so successful) the strategies to reach marketing objectives have been. Strategic marketing planning then becomes an ongoing process of measuring and adjusting to new information and current conditions.
Many of your responses to these questions will be your best educated and informed (as much as possible) information on your product or service offering’s company. Where concrete information is not obtainable, you should use your judgment and to describe why you made your judgment call.
Prepare your assignment beginning with a title page to include your name, your product or service and your target market. Then respond to each of the following four questions in order and identify the number of each response. There is no need to repeat the number of the question.
B2B marketing. Consider your product or service offering. Based on the categories of B2B markets discussed in the readings, name at least two of the B2B markets your company may be a target market for another company. Why?
Segmenting B2B markets. Using the Harrison, Hague, and Hague behavioral-based segment model in the readings, which of those segmentation scheme might be most appropriate category for your company? Why?
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?
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.