Weekly Application #2
Weekly Application Posts
To help you integrate your learning, demonstrate your subject matter expertise, and build your professional brand, you will complete a weekly post that focuses on one or more of the topics covered that week. Each of the 8 weekly posts must be a minimum of 300 words in length (including the original post title) with no maximum limitation. Posts should be tailored to fit the personal/professional brand and/or expertise that youre trying to develop. After you have built your MSM WordPress website, you will upload your posts for each course to that site. (Thus, by the end of Term 5, you will have at least 80 uploaded posts on your website8 from each of the ten courses you will have completed by that time.)
Your weekly application posts should go beyond merely reiterating what was covered in the course materials. They should show your target audience(s) how to apply marketing concepts, techniques, or technologies to real-world problems or opportunities for which they have an interest. The topic of your post must be one of the main topics covered in each week’s lesson and the post must do more than merely mention a term from the week, it must demonstrate knowledge of the topic. Although the tone, style, voice, and mood of your writing is up to you, be sure to consider what would work best for your target audiences.
To build and maintain your professional expertise and to avoid appearing as only a student, it is imperative that you do not use words like professor, class, course, or other words (e.g., this week we learned about) that infer your role in these posts is one of being a student.
Also, make sure to submit your post PRIOR to posting it on your blog in order to ensure the plagiarism check works properly. Students showing a high score on the Turnitin results will receive a grade of zero.
Grading:
Posts that infer student status will receive grades of zero.
Posts that meet or somewhat exceed the minimum criteria will be awarded 3 points.
Posts that reasonably exceed the minimum criteria may be awarded up to 4 points.
Posts that go far beyond the minimum criteria (in quality and not just quantity) may be awarded up to 5 points.
Notes:
The post needs to be in a blog format
Subjects to Discuss: My Jewelry Brand (https://www.instagram.com/leedomjewelry/)
Timeless jewelry for the contemporary woman
ages 15-35
Powerful woman
Please talk about the following subjects:
-https://www.ted.com/talks/david_cameron_the_next_age_of_government?language=en#
-https://www.ted.com/talks/joel_selanikio_the_big_data_revolution_in_health_care
-this must BE in the blog as well
https://fiu.zoom.us/rec/play/6MB8c7uqqz83TtfHtwSDUaMtW464J6ys1yVI_fINzEq3UHJWMVPwY7MTZuGAdNkRhYSlOusPOynnRsTh?autoplay=true&startTime=1598666068000
-https://www.youtube.com/watch?v=3JqgiLRhYHw&feature=youtu.be
additional items that must be part of the blog are attached
Prof. Cloudya Esther
Marketing Management 6805
FIU – MSM
The Marketing Plan
Part 2A – Situational Analysis
CONTENT
These sections are the most common
to any marketing plan and you will
need to include them all on yours.
Executive Summary
Mission | Vision | Objectives | Value Proposition
1
2
3
4
Market Research
Buyer | Brand | SWOT | Industry
Strategy
Segmentation | Mix | Budget | Timeline
Execution
Create | Test | Launch
5 Analytics
Evaluation | Monitoring
ANALYZING THE CURRENT
SITUATION
To map an effective marketing plan, marketers need to stay abreast of key
factors in the macroenvironment that can affect oganizational performance,
including broad demographics, economic, ecological, technological, political-
legal, and socio-cultural forces.
Can you think of any example?
ANALYZING THE CURRENT
SITUATION
In addition, marketers must look at specific groups in the microenvironment
that have a more direct influence on performance, including customers,
competitors, channel members, partners, suppliers and employees.
Can you think of any example?
What is a Marketing
Information
System (MIS)?
MIS is a structure consisting of people, equipment,
and procedures to gather sort, analyze, evaluate,
and distribute information to marketing decision
makers.
Provides reliable internal or inside
information of the company.
Internal
Records
Marketing
Intelligence
Market
Research
(MR)
Marketing
Decision
Support
System
Collects information from the
external sources.
Is used to solve specific marketing
problems of the company.
Are tools which help marketing
managers to analyze data & take
better marketing decisions.
Financial Data
i.e. cost of goods sold each month or number
of customers with outstanding balances
Sales Data
i.e. number of products sold each month
Inventory Data
i.e. number of product on hand at a given
point in time
INTERNAL
RECORDS
Other non-marketing/customer data captured
and maintained by the organization
EXAMPLES?
EXAMPLES?
EXAMPLES?
COMPETITOR
INTELLIGENCE
PRODUCT
INTELLIGENCE
MARKET
UNDERSTANDING
MARKET
INSIGHT
COMPETITIVE
INSIGHT
Existing competitive and
market-level data gathered
using sources from outside
the firm
Marketing
Intelligence Marketing
Intelligence
CUSTOMER
INSIGHT
Marketing
Intelligence
COMPETITOR
INTELLIGENCE
– Investments
– Organization Changes
– Corporate Strategy
– Acquisitions
– Key Executive Profiles
Marketing
Intelligence
PRODUCT
INTELLIGENCE
– Pricing
– Prod. introductions
– Prod. Promotion
– Specifications
– Cost Structure
Marketing
Intelligence
MARKET
UNDERSTANDING
– Market Size
– Market forecast
– Technology Trends
– Segmentation
Marketing
Intelligence
CUSTOMER
INSIGHT
– Brands Preference
– Brand Equity
– Loyalty Rates
– Purchase Dynamics
– Brand Awareness
– Brand Consideration
– Key Product Concerns
Some Sources of Marketing
Intelligence
FREEPAID
Hoover’sOnline in-depth profiles of
20,000+ public and private co’s, to
research competitors, track stock market
performance, and monitor IPO
status/info
Dun & Bradstreet information relevant
to your business through a searchable
database of companies
Dialog – search through 50,000
publications and documents
Fuld & Co.’s Internet Intelligence Index
info from various public services, links to
hundreds of intelligence-related sites
related to macroeconomic data, individual
patent and stock quote information
Thomas Register listings of thousands
of companies in a variety of industries
Yahoo! Finance (no $) up-to-the-minute
market summaries, stock research ,
financial news and more
MARKETING RESEARCH (MR)
Types of MR:
Primary vs. Secondary Qualitative vs. Quantitative
Research strategies and/or projects designed to
answer a specific research question and provide
decision-makers with useful and actionable
information to help them make the decision
TYPES OF
MARKETING
RESEARCH:
SECONDARY
Secondary data is information which has been
collected in the past by someone else.
PRIMARY
Primary data isinformation collected through
original or first-hand research. For example,
surveys and focus group discussions.
TYPES OF MR:
QUALITATIVE
Textual or visual analysis
Online Communities
Web Survey – Chat
Focus Groups – Triads – Dyads
Depth Interviews (IDIs)
Collecting empirical data through observation.
DATA COLLECTION TOOLS:
QUANTITATIVE
Experiments
Controlled observations
Phone
Polls
Surveys
Collecting large amounts of data.
DATA COLLECTION TOOLS:
Custom Hybrid
Companys Customer Relationship Management (CRM) database
CRM is used to track and analyze customer interactions and data
throughout the customer lifecycle in order to:
CRM databases compile information on customers across different
channels, including:
CRM systems also maintain customer personal information and track
customer purchase history, buying preferences, and concerns.
Marketing Decision
Support System
Support customer relationships
Assistin customerretention
Drive sales
Company’s website, telephone, live chat, directand online marketing materials,and
socialmedia
The CRM
Database
& Big Data
What is Big Data? largesets of data that can
be analyzed in various ways to reveal patterns,
trends, and associations in customer behavior
and product trackingdata.
Theselarge data sets come from multipleareas:
—-Internal:
Sales, financial, and accounting data
Marketing data
CRM database
Surveydata
—External:
External customer or household data
Socialmedia data, ratings from company
product web pages, or from ratings and
reviewsites
The CRM
Database &
Big Data
BIG DATA
Typically each data set is stored
in separate databases but also
fed into one central data
repository,so ad hoc pieces of
data can beintegratedtogether
to a get a clearer picture of
certain customers, product lines,
etc.
SWOT
ANALYSIS
Through environmental scanning and analysis,
marketers collect data about these aspects of
the environment and then analyze their findings
to better understand the company’s strengths,
weaknesses, opportunities & threats
RECAP
After this lesson, you should be able to
complete the following parts of your
Marketing Plan:
Executive Summary
Mission | Vision | Objectives | Value Proposition
Strategy
Segmentation | Mix | Budget | Timeline
1
2
3
4
Market Research
Buyer | Brand | SWOT | Industry
Execution
Create | Test | Launch
5 Analytics
Evaluation | Monitoring
