Marketing professionals use a feedback and control mechanism to monitor the performance of the marketing plan.
Control Section & Final Marketing Plan. The Control section is the final component for your marketing plan. The marketing performance must be monitored to ensure it is performing up to expectations. According to the SOSTAC® marketing template download, specific monitoring metrics in this section include: the 5 S’s (sell, serve, sizzle, speak, save), key performance indicators, visibility testing, mystery shopping, customer satisfaction surveys, site visitor profiling, frequency of reporting, and a process for reporting.
This activity addresses the following module outcomes:
· MO1: Examine how technology and innovation are created to meet the needs of the consumer (CO1, 3, 5, 6)
· MO2: Discuss the future challenges of marketing in the 21st century (CO1, 2, 3, 5, 6)
Your final marketing plan should be Your assignment should be 6-8 pages and follow the APA guidelines (6th Edition) by including a title page, written in Times Roman, 12-point font, doubled spaced, use left justify, and with one-inch margins.
You will find information on writing in the APA writing style at http://owl.excelsior.edu/citation-and-documentation/apa-style/ (Links to an external site.)
Compose your work in a .doc or .docx file type using a word processor (such as Microsoft Word, etc.) and save it frequently to your computer. For those
M2A1: Targeting the Consumer
M3A1: Consumer Behavior – survey method; videos look at conduct of a focus group; how to incorporate into a market plan – recruit, organize, role of moderator, analysis of data; differentiate between online and in person
M5A1: Pricing – how to set, psychological triggers, comparative pricing, economist prices itself; how to see if good value; high, mid, level; store vs national
M6A1: Omni-Channel; Starbucks – seamless experience no matter what channel; iPad, smartphone, order, drive thru, whichever channel the experience is the same; driven by technology and customer expectation – demand by consumers
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