Marketing Plan: Social, Ethical, and Legal Implications Discussion Note: the Social, Ethical, and Legal Implications assignment is part of the total market

Marketing Plan: Social, Ethical, and Legal Implications Discussion Note: the Social, Ethical, and Legal Implications assignment is part of the total marketing plan as outlined in the grading guide. It is not a separate paper.

Producing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company.

Assess in a maximum of 700 words the ethical, legal, and social issues affecting your product or service in two markets: the United States and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S., then your other market is required to be the U.S. marketplace. This will be added to the Target Market section of your Marketing Plan.

Include the following:

Develop a process to monitor and control marketing performance. This process could be a flowchart but a flowchart is not required (flowcharts do not count towards your word count requirement).

Formulate a maximum 350-word executive summary including at a minimum the following elements to include in your marketing plan:

Required executive summary elements:
Strategic Objectives
Products or Services
Optional executive summary elements:
Resources Needed
Projected Outcomes

Integrate the previous weeks’ sections, social, ethical, and legal implications, and executive summary into the marketing plan. Incorporate corrections and suggestions from the instructor’s weekly feedback. The marketing plan should be a minimum of 3,850 words and include the following:

Incorporate Understanding Target Markets (Week 2)
Incorporate Promotion and the Product Life Cycle (Week 3)
Incorporate Price and Channel Strategy (Week 4)
Incorporate Marketing Communication and Brand Strategy (Week 5)
Incorporate Executive Summary, Legal, Social and Ethical Considerations (Week 6)

Cite a minimum of three peer-reviewed references.

Include all peer-reviewed references from the previous weeks’ individual assignments in your marketing plan.

Format your assignment consistent with APA guidelines. Running head: MARKETING COMMUNICATION AND BRAND STRATEGY
Marketing Communication and Brand Strategy
1
MARKETING COMMUNICATION AND BRAND STRATEGY
Marketing plan
The five elements of a situation and product, strategic pricing analysis, place/distribution,
and promotion, include advertising strategy, public relation strategy, media strategy, market
segment, and (vision, mission, strategic objectives). Moreover, these elements describe a
marketing communication plan and branding strategy in targeting newer customers. A multiregional or global business may use the branding strategy and communication plan.
Situational Analysis:
Vision
In a world of business where things keep on changing on a daily basis especially with the
evolution of technology, there is a need for business to make a difference in terms of innovation,
geopolitics, back-up, and business in general. Therefore, it is upon the initiative of the firm to
share its thoughts on issues sensitive and vital issues such as an atmosphere of the business,
practical vitality, development, enterprise, and funding (Baker & Saren, 2016). A company
visions their procedures on how best they will create and utilize opportunities in the market.
They start by proposing authoritative components that involve the whole firm going through
training and getting to understand the goals of the firm both short and long term.
Mission
The primary objective of a firm is to expand its products and services to reach a wide
customer range. Therefore, they may plan to give out items or even better meet their clients on a
personal basis. All clients’ wants to see that their value for money is fulfilled and thus the
product or service offered should meet the needs and preferences of the customers (Blakeman,
MARKETING COMMUNICATION AND BRAND STRATEGY
2018). An organization sets out its mission by making practical ICT arrangements that are
unique and inventive, they convey administrators and products that are efficient and successful.
A firm also ensures that they submit towards representative change. Moreover, they ensure that
they provide specialized fast and substantial assistance to their customers. They also ensure that
advertisement is focusing on the current trends of the market.
Values
When it comes to values, an organization ought to ensure that they have goals that they
work towards and all their activities are based on the goals. Similarly, firms need to ensure they
do take responsibility for every decision that they and they are in line with the firm’s policies.
Through responsibility, enthusiasm is brought out among the employees in the organization
(Smilansky, 2017). When an employee knows that all the resource in the organization is their
responsibility to nurture and protect them, then they will value the resources. The
accomplishments of the organization rely on the efforts the employees put. The customers too in
the long run come to value the brand as they know what they believe, in a stand for, and value.
Market Segments
Market segment depends on the target market and the type of customers that are being
targeted. For instance, creators of a market for women’s products must do extensive coordinated
research and come up with a hypothesis that will assist them in developing promotional
methodologies that are effective (Luxton, Reid & Mavondo, 2015). The strategies must also be
such that they are cost effective for the firm in the long run. Therefore, they will require
extensive research that will bring results that may be celebrated by the organization in future.
MARKETING COMMUNICATION AND BRAND STRATEGY
The product, Place/Distribution, Promotion, and Price Strategies:
Advertising Strategy/Objectives
Any chosen advertising strategy of an organization ought to ensure that it is able to
develop an advertisement that increases the customer base and retain those that are loyal.
Therefore, they must develop a brand in which their name is valued and loved by their
customers. Creative and innovative adverts ensure that an organization is able to compete with
its rivals and outdo them.
Media Strategy
Media strategy used in an organization plays a crucial role towards fulfillment of their
goals and objectives. The evolution of social media is making thing even more interesting. It all
dawns on how an organization will take advantage of the media outlets and use it to increase
their customer base. When coming up with a media strategy, one ought to ensure that the strategy
will increase the sales and therefore the images and content used in the adverts ought to be of
high quality as they will be representing the organization (Fill & Turnbull, 2016). Improving
brand population and customer loyalty are one of the things that an organization focuses on when
promoting their products on social media and mainstream media. Therefore, it is not a surprise
that they will use incentives and discount offers to attract more customers. Moreover, they also
use the media to announce expansion and introduction of new products in the market. In
addition, organizations are venturing into e-commerce where they are selling their products and
services online.
MARKETING COMMUNICATION AND BRAND STRATEGY
Public Relations/Strategies
It is essential for an organization to understand the market trends and mostly their
clientele base. They do this through an open forum and open-air marketing where they get to
keep in touch with their customers. Therefore, customers are able to air out their complaints and
suggest things that should be improved to meet their taste and preferences. An organization is
able to understand their customers well and thus come up with quality products that assist in
building customer loyalty.
MARKETING COMMUNICATION AND BRAND STRATEGY
References
Baker, M. J., & Saren, M. (Eds.). (2016). Marketing theory: a student text. Sage.
Blakeman, R. (2018). Integrated marketing communication: creative strategy from idea to
implementation. Rowman & Littlefield.
Fill, C., & Turnbull, S. L. (2016). Marketing communications: brands, experiences and
participation. Pearson.
Luxton, S., Reid, M., & Mavondo, F. (2015). Integrated marketing communication capability
and brand performance. Journal of Advertising, 44(1), 37-46.
Smilansky, S. (2017). Experiential marketing: A practical guide to interactive brand
experiences. Kogan Page Publishers.
PROMOTION AND THE PRODUCT LIFE CYCLE
Promotion and the Product Life Cycle
PROMOTION AND THE PRODUCT LIFE CYCLE
A product strategy
First and foremost, the selection of the product strategy (leather shoes) would start by the
identification of the target market, main competitors, type of the products they offer, and the
needs of the customers. This would be followed by the design, differentiation, and branding of
the product to meet the demands of the target market (youths). The leader shoes would be
promoted and offered at a lower to enhance market penetration (Cant et al., 2015).
Areas of the product lifecycle
The three stages of the product life cycle are the introduction, growth, maturity, and decline.
•
Introduction stage
The product is launched to the market or introduced to the consumers at this stage. The
price of the product is set and distribution strategy. Since the consumers are unaware of the
brand, promotion is normally done. At sometimes, the product is offered at a lower price about
other established business to gain market entry. The risk is normally high at this stage.
•
Growth stage
PROMOTION AND THE PRODUCT LIFE CYCLE
This is the most crucial stage of the product life cycle because it determines the product’s
survival about the reaction from the competitors. At this stage, there is a drastic increase in
demand, sales, and revenue. The business can attract more price sensitive customers using
strategies like price cuts, entering new marketing, and deploying the new distribution channels.
•
Maturity stage
This is the third stage of the product’s life cycle. At this stage, the profit realized by the
business reach the optimum limit then starts to decline gradually. The distribution strategies used
by the business get exhausted, and the sales tend to stabilize of flatten because the market
becomes saturated (“All 4 Stages of the Product Life Cycle Require a Different Market Research
Strategy, According to MarketResearch.com Blog”, 2019).
•
Decline state
The revenue realized by the business from the sale of the product decline significantly at
this stage. There is a need to evaluate its product strategy at this point to determine which
changes can rejuvenate the business back to profitability. New ideas and techniques become very
crucial in saving the business or firm from collapsing.
Types of media methods
I would advertise my leader shoes on television to create awareness for many customers
as possible. The advert for my leader shoe firm would be shown at the eve of the broadcasting of
the news. This is because of millions of potential customers like watching the news in the
evening after a busy schedule during the day. Also, to ensure there is inclusivity, I would also
promote my product on newspapers. A high proportion of the educated and working population
like reading the newspapers while at work during daytime. The information about my leader
shoe firm will be contained in the business news section of the newspaper (Sandhusen, 2008).
PROMOTION AND THE PRODUCT LIFE CYCLE
Measuring the marketing activities
The following are the metrics that I would use to determine the success or failure of the
marketing activities.
•
Evaluating the percentage increase or decrease in the number of sales and revenue – An
increase in the number of sales and revenue indicates that the marketing strategies are
effective in creating awareness to the target customers; hence, the business is going
towards the right direction. A decrease in sales and revenue is an indicator of failure.
•
Evaluating the percentage increase or decrease in the number of customers – An increase
in the number of customers would imply that the market share of the business is
expanding and new customers are being lured to purchase the leather shoes. A decrease
in the number of customers means the reverse.
•
Observing an increase or decrease in demand – An increase in demand means that the
product is of high quality and it meets the needs of the customers.
Three elements of the product and promotion list
•
Advertising strategy/objective
The main objective of advertising is to increase the market share and gain a competitive
advantage over some rival businesses. In this case, the business would utilize the advertising
weaknesses of the main to explore the new markets. This is very important in the growth of the
business.
•
Direct marketing
PROMOTION AND THE PRODUCT LIFE CYCLE
The business would be selling the leader shoes to the customers directly to maximize
profit and eliminate the cases of middlemen. This will enable it to gain the customer experience
and deliver a product that meets the required expectation.
•
Public relations/strategies
Handling of the public would be a top priority of the business. All the employees
including the distributors and suppliers would be required to relate with the public diligently and
professionally. High ethical standards must paramount. Also, the business would be exercising
corporate social responsibility by donating a portion of its revenue to finance various projects in
the society. Sponsoring of various community events would also be practice to portray a good
public image.
PROMOTION AND THE PRODUCT LIFE CYCLE
References
All 4 Stages of the Product Life Cycle Require a Different Market Research Strategy, According
to MarketResearch.com Blog. (2019). Retrieved from
https://www.prnewswire.com/news-releases/all-4-stages-of-the-product-life-cyclerequire-a-different-market-research-strategy-according-to-marketresearchcom-blog270294311.html
Cant, M., Wiid, J., & Kallier, S. (2015). Product Strategy: Factors That Influence Product
Strategy Decisions Of SMEs In South Africa. Journal Of Applied Business Research
(JABR), 31(2), 621. doi: 10.19030/jabr.v31i2.9158
Sandhusen, R. (2008). Marketing. Hauppauge, NY: Barron’s Educational Series.
RELATIONSHIP MARKETING
Relationship Marketing
RELATIONSHIP MARKETING
Marketing research is an integral part of marketing decision making since it provides
relevant accurate and timely information to improve the management’s decision-making process.
It is therefore imperative that organizations understand customers and identify who they are what
they need as products and services, and their preferred method of delivery. This, in turn, helps
create relationship marketing which deals with establishing long-term relations with customers.
This goes beyond one-time sale since relationship marketing attempts to foster customer loyalty
through the production of exemplary products and services. This paper creates a research section
for Apple’s marketing plan, focusing on demographics and psychographics.
Demographic Segmentation
Demographic segmentation is a market segmentation that is done according to race, age,
religion, ethnicity, income, family size. Demographics can be segmented into several market
markets which allows it to target its consumers in a more accurate form since it enables the
organization to categorize the needs of the consumer. This type of information in marketing
research can be obtained through primary research and secondary research (Gupta & Prinzinger,
2013).
Primary Research
This refers to the gathering of information directly from the field, through surveys, direct
observations, and interviews on focus groups. For Apple, this can be conducted at points of sale,
or holistic studies to determine who buys which Apple product.
Secondary Research
This is desk research, in that it refers to the gathering of existing information through the
available sources. This includes, but is not limited to internet research, existing market research
RELATIONSHIP MARKETING
results information from governmental agencies as well as those from Apple’s customer database
among others.
Apple’s Demographics
Customer Income
According to data by Technology data market firm forester, an average household for
income for adult owners of Mac computers is slightly above 98,000 dollars which is way higher
than 74,000 dollars for a PC buyer. This would refer to the middle and upper-class income
people. This is necessary to understand since it is evident that this group is willing to pay more
for better user experience and customer service (Montgomerie, 2013; Zhang, 2018).
Age
While the company is focusing on products of all ages the age bracket of individuals who
find this products appealing is more between the age of 18 and 31. A past survey indicates that
41 percent of 24, 000 surveyed people fell within this category. The importance of this
demographic is that it affects production to produce products that greatly resonate with this
group for maximum profitability (Zhang, 2018).
User Experience
Most individuals who prefer Apple products, especially the computers over other
products are mainly media professionals and graphic designers who are mostly influenced by the
product ability towards heavy computation power. This market demography is largely into the
commercial usage of Apple’s products
Psychographic Segmentation
Psychographic research focuses on why consumers bay products while avoiding others.
These are more psychological facts that go hand in hand with the demographic segmentation to
RELATIONSHIP MARKETING
create a holistic marketing strategy. Similar to demographics, this can be understood through
primary and secondary research as well as consumer analysis and customer profiling. Primary
research may involve interviewing existing clients as well as investigating web analytics.
Customer Profile
This is a description of business customers based on demographics backgrounds hobbies
and interest (psychographics).
Quality and Lifestyle
A large number of Apple users buy their product because of their quality, something that
perfectly sits with the Apple’s customer considerations during product design. These products
complement an individual’s lifestyle simply while at the same time highlighting sophistication.
Values relationships
Apple establishes their products on the backdrop of emotions and values that in essence
translate to the developing of a community of Apple users. Users view the innovativeness of
their products as hope-giving and fulfilling. Most importantly Apple’s focus on social media and
other social platforms ensures that users who value such relation methods are covered (Gupta &
Prinzinger, 2013).
Analysis
From the demographics and psychographic information retrieved it is evident that Apple
creates high-end products that align with consumer expectations. Firstly, consumer income is the
main factor that plays a major impact on marketing Apple’s products. The high-income earners
value the organization’s product since, despite being expensive, the product offers a better user
experience. As such it is essential that while developing a marketing mix, both psychographic
and demographic factors be considered if the consumers are to accept the products.
RELATIONSHIP MARKETING
References
Gupta, A., & Prinzinger, J. (2013). Apple, Inc.: Where Is It Going From Here? Journal of
Business Case Studies, 9(3), 215-220.
Montgomerie, J. (2013). Owning the consumer—Getting to the core of the Apple business
model. Accounting Forum, 37(4), 290-299.
Zhang, Q. (2018). Research on Apple Inc’s Current Developing Conditions. Open Journal of
Business and Management, 6, 39-46.

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