New Target Markets Assignment
Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring
New Target Markets: Determine any new markets for your strategy and describe how you will provide value to each target market.
Marketing Mix for New Target Markets: Determine adaptions for each new target market.
- Products
- Price
- Distribution
- Traditional Promotion
- Online Promotion
Marketing Implementation: Create the implementation for your marketing plan. Describe how you will organize and implement the plan, such as whether it will be organized by market, geography, and who is responsible for marketing decisions.
Marketing Communication Channels: Evaluate the marketing communication channels you will use to reach selected audiences. Include Internet and traditional communication channels to convey key messages. Describe the advantages and disadvantages of each channel you select. Insert or remove rows as needed.
| Channel | Target Market | Advantages | Disadvantages |
| Example: Direct mail | Middle class residential | Can include coupons | Expense and low return rate for given product |
Strategic Actions: Develop specific activities required to implement the marketing plan. Identify the person or role who will be responsible for each action, when it will be complete, and what standard or metric indicate that the activity is complete. Insert or remove rows as needed.
| Action | Date for Completion | Person/Role Responsible | Standard/Metric |
| Example: Design flyer for direct mail campaign | 1/1/2021 | J. Smith, graphic designer | Approval by senior marketing team and legal |
Monitoring: Develop the measurement to identify how you know you have been successful for each strategic action. Specify the measures to track performance against goals. Identify standard reports from your online and traditional marketing efforts. Insert or remove rows as needed.
| Action | Target | Person Responsible | Inter-measurement |
| Example: Direct mail flyer | 1100 new inquiries | Western regional manager | 500 new inquiries first month of campaign |