MBA645 WEEK9 Project Submission

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Southern New Hampshire University *

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MBA 645

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Feb 20, 2024

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9-1 Project Submission : Measuring Your Strategic Marketing Plan's Success Earl Davis MBA 645 Optimizing Brands Professor Sauers Feb 11, 2024
Part One: Strategic Brand Implication and Management Intro • Part One: Strategic Brand Implication and Management Brand Analysis and Implications of Reopening • Essential brand equity • Describe our strategic communication plan pre park opening • Look at Functional Departmental Roles and Responsibilities
Brand Equity • Assess worth • Brand equity, a key asset for any business, consists of brand awareness, brand loyalty, and brand associations (Aaker & Moorman, 2017). o Sense of familiarity o Brand Loyalty Brand Awareness o Brand associations o BE plays a critical role in building trust, loyalty, and value. • Building trust, loyalty, and value. • Influences customer choices and perception. • Importance : gives insight into the value and perception that customers have of that brand. • Overall value and reputation of the brand (Qualtrics, 2023).
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Positive Implications • Safety concerns addressed and shared : The theme park must demonstrate an effective commitment to the well-being of both employees & visitors. This will result in positive brand perceptions. • The support of the community Obviously, positive community opinion can lead to increased brand loyalty and support. o Brand associations: o Sweet-spot • Employee support for reopening : o Communicating all initiatives that ensure employees are safe. o Emphasize all a training and support programs.
Negative Implications • Social media negative reactions : Addressing and managing any potential backlash quickly will lead to minimal poor impact on brand equity. o Offering a 2-way customer comments online forum will give the company a way to hear bad feedback & address it publicly. • Employee negative concerns: Resolving their concerns quickly and effectively is crucial o Handling negative comments and feedback from employees o Job security : Transparent communication • Operational concerns for safety
Stakeholder Interest Employees Stakeholder’s interest: safety Job security fair pay and benefits career opportunities Customers Stakeholder’s interest: Value for prices Safe and fun experiences for entire family, quality entertainment, attractions and merchandise. Government agencies Stakeholder’s interest: Compliance with regulations and laws Economic benefits for the region
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Communication Needs ( Employees ) • Communication needs: • Updates on training and protocols • Clear and transparent communication about safety measures • Promotions & event updates. • Opportunities to provide feedback and address concerns • Best Communication Mode/feedback: • Internal memos and emails • intranet • In-person meetings • Company newsletters • Reopening Impact (low, medium, or high): High impact: • health and safety • Job stability
Communication Needs ( Customers ) • Communication needs: • Marketing Information • Ensuring that safety measures are in place • Ways to get feedback and complaints…most likely thru an online forum • Best Communication Mode/feedback: • Direct emails & mail • Website announcements • Social media updates • Reopening Impact (low, medium, or high): Medium impact • Positive experiences, sweet spots & good brand touch points will strengthen brand loyalty • safety concerns & prices will impact their choice to visit
Communication Needs ( Government ) • Communication needs: • Updates on safety protocols and risk management • Compliance reports and documentation • Collaboration on regional initiatives • Best Communication Mode/feedback: • Official emails • Safety reports • In-person meetings • Reopening Impact (low, medium, or high): Medium impact • Compliance with regulations and guidelines is crucial • Economic and safety considerations are significant factors
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Communication Plan Pre & Post -opening Before Reopening Consistent updates Transparency Emphasize TBL efforts and CSR initiatives After Reopening Constant communication Continuous monitoring of safety and feedback channels Addressing any emerging issues Regular updates to stakeholders
Functional Roles & Responsibilities • Marketing • Operations • Sales
Legal & Ethical Considerations This audience is particularly sensitive to the CSR of businesses they consider supporting Avoid False advertising Ensure you engage critical stakeholder groups as required in both the marketing initiatives and communications
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Part Two: Customizable Marketing Plan Intro Traditional and Digital marketing methods Crisis management strategies Analyze of legal and ethical issues
Consumer Research Social media listening: offer opinions about a wide variety of topics, including companies and their products. analyze what consumers are saying. gather data about perceived strengths, weaknesses and potential areas of improvement. unsolicited opinions Surveys: cost-effective way to gather a large quantity of data for analysis. Written surveys encourages candid responses conduct surveys through various means, including: o Online surveys . o In-person surveys :
Traditional Marketing Methods Billboards Large billboards will used close to middle & high schools Appeals to ALL generations How will identified methods help in the acquisition of new customers? The appeal is that they “are known for being image focused with a little amount of text, as eye-catching images are a great way to raise brand awareness (Manning, 2023). How will identified methods help in the retention of existing customers? Park is reopening, and seasonal passes being advertised. Advantages: brand recognition and lots of eyes! Disadvantages: Unknown ROI & long-term results on revenue (Ruparelia, 2022).
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Traditional Marketing Methods Direct Mail • Direct mail will be sent to current & past customer base. How will identified methods help in the acquisition of new customers? “customers are more likely to consider purchasing items from a newsletter and postcard if it has been received in the mail” (Indeed, 2022). How will identified methods help in the retention of existing customers? easily personalized for a targeted audience maximizing the ROI (Ruparelia, 2022). Advantages: faster response rates, more purchases, and greater ease (Indeed, 2022) Disadvantages: Mainly appeals to past customers.
Traditional Marketing Methods TV Ads TV Ads will be aimed at families with kids on TV networks that families & kids watch the most. How will identified methods help in the acquisition of new customers? Television is a household staple. I Seamless integration of online streaming services, easier for advertisers to blend w/ digital content (Krizancic, 2023). Mass appeal to attract new customers. Engage viewers emotionally, leaving a lasting impact on their memory. How will identified methods help in the retention of existing customers? • Sense of trust and credibility Advantages : large audience & trustworthy Disadvantages : expensive
Digital Marketing Methods Email Marketing How will identified methods help in the acquisition of new customers? A way to communicate the new safety updates and promote the grand opening/discounts. How will identified methods help in the retention of existing customers? Email marketing is an effective tool for customer retention and nurturing existing relationships (Novak, 2024). Advantages: personalized communication & great ROI. Disadvantages: spam
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Digital Marketing Methods Social Media Marketing Engage new & past customers with interactive ads and social media content How will identified methods help in the acquisition of new customers? All ages use social media How will identified methods help in the retention of existing customers? SMM is a great way to stay in touch Advantages: Most popular form of digital marketing & Nearly half of U.S. consumers report they’ve made a purchase through social media (Novak, 2024). Cost-efficient. Disadvantages: Very competitive. Company must be relevant and quickly respond (Deepak, 2023).
Digital Marketing Methods Mobile Marketing • Text message ad campaign How will identified methods help in the acquisition of new customers? 59% online users spend their time on (Burko, 2022). How will identified methods help in the retention of existing customers? Stay connected to current customers and send updates and links to the website. Purchase decision on the spot Advantages: Ease of use & accessibility to the masses: There are more than 310 million smartphone users in the U.S. alone (Novak, 2024). People tend to open, with research showing that text open rates are estimated to be as high as 98% (Novak, 2024) Disadvantages: No room for Design error in the Process: Difficult-to-navigate will cost business (Burko, 2022)
Optimize the Brand a.Which method do you think could be most impactful in addressing your target audiences? Social media marketing b.Which method do you think could be most effective in branding? Billboard c.Can both digital and traditional marketing support the brand and growth of the business? Reaching as many diverse audiences as possible and by being relevant to the target audiences.
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Crisis Management Strategies How can we focus on customer expectations to improve brand damage from the incident? Consistent communication Get feedback How can we support our employees’ needs in reopening the park? Train employees Open forums and meetings to What possible crises could arise relevant to the incident and reopening? Another safety incident that hurts an employe or customer.
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Legal & Ethical Issues Ethical : Avoid False advertising: Legal : injuries from unsafe practices. Staff must be trained and customer safety must be enforced.
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Part Three: Measuring Your Strategic Marketing Plan’s Success Intro • Monitoring Your Marketing Strategy— • SMART marketing objectives • KPIs • How we will monitor the performance objectives • PDCA for preserving brand identity and reputation • Role of PR and CM in addressing negative public feedback on social media
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SMART objective #1 • Social Media marketing (SMM) • SMART goal 1 : • Improve brand awareness by increasing social media engagements by 30% within 3 months. • Specific : Increase number of engagements • Measurable : Track increase in engagements. • Achievable : engaging social media campaigns. • Relevant : theme park will grow as the brand awareness increases, • Time-bound : 30% increase within 6 months
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SMART objective #2 • Mobile Marketing (MM): • SMART goal 2: • Increase website traffic by 30% within 6 months by creating a mobile marketing campaign. • Specific: Increase website visitors. • Measurable: Track increase in website visitors. • Achievable: drives potential customers to the website. • Relevant: Sales increase, more website traffic • Time-bound: 30% increase within 6 months .
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SMART objective #3 • Email Marketing: • SMART goal 3: • Increase revenue and orders by 20% within 6 months by creating a email marketing campaign. • Specific: Increase revenue and orders. • Measurable: Track increase in revenue form email marketing campaign. • Achievable: drives orders and revenue directly from targets of emails customers. • Relevant: Revenue increase and order increase • Time-bound: 2 0% increase within 6 months .
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KPI #1 • Social Media Marketing KPI: • Average Engagement Rate (AER) • “ P rimary methods for determining how well your social media marketing efforts are working for you” (Chawlani, 2024) • Tracking AER also helps to measure the effectiveness of social media campaigns.
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KPI #2 • Mobile Marketing KPI: • Click-through rate (CTR) • Track the ROI from the the email campaign • While also increasing website traffic
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KPI #3 • Email Marketing KPI: • Open rate • Track the ROI from the email campaign by tracking open rate that leads to orders • Email open rate measures the percentage of email recipients who open your campaign (Ford, 2023) • See how successful the email campaign is tracking open rate that leads to an order • While also increasing website traffic
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Monitor the results  • SMM KPI Monitoring: • Social Media Analytics tools • Google analytics, HubSpot, and Sprout Social. • It will also be able to track key insights (West, 2023) such as: • How many people are your posts reaching • How often do people like or interact with your content • What kind of growth rate your social media following has • How many sales and conversions your social media posts are generating. • Concise and target campaigns aimed at the target audiences. • Efficiently record the data ..leading to usable metrics and make sense of the data.
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Monitor the results  • MM KPI Monitoring: • The theme park will use a mobile marketing software tool • Such as Vibes (Hood, 2024), • Extract value and insight from their SMS database. • Gather and monitor the mobile marketing KPI, • Website traffic, duration on the site, and if they made a purchase. • “Go-to-spot” for all the mobile website data • Creating long-term mobile engagement by giving insights into trends and increasing customer retention (Hood, 2024).
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Monitor the results  • Email KPI Monitoring: • Email marketing platform to gain valuable insight into the target audience. • Email testing tool to monitor the email success • Such as Google Analytics or Mailchimp • Track and measure email analytics • Test which designs and email strategies work the best.
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PDCA Model for preserving brand identity and reputation Step 1: Plan – Create marketing campaign to improve branding • Identify objectives and target customer • Create comprehensive marketing plan Step 2: Do – Execute marketing campaign • Execute the marketing plan • Manage budget • Create engaging content using the specified marketing tools (Vector, 2024)
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PDCA Model for preserving brand identity and reputation Step 3: Check – Evaluate execution • Collect data and evaluate performance • Measure related KPIs • Monitor and Examine customer feedback Step 4: Act – Adjust for future improvement • Identify strengths and weaknesses • Recommend and add improvements • Adjust marketing strategy (Vector, 2024)
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Addressing negative public feedback on Social Media • Social media response methods will be focused on addressing and positively responding to the negative comments by creating forums • Answer safety-related questions by posting safety updates, primarily written content and videos, on the social platforms. • The Public Relations (PR) team can respond to negative feedback • PR can spin negativity • Highlight the theme park’s various safety and operations improvement. • Negativity as constructive criticism (RedMoxy, 2022) • Crisis Management can pre-plan • Preparation and monitors the social media feedback and trends • Limits negative impact • Controlling the narrative • Get ahead of the noise/counters the negative storm (Nierman, 2020)
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Summary • Part One : Strategic Brand Implication and Management • Part Two : Customizable Marketing Plan • Part Three : Measuring Your Strategic Marketing Plan’s Success
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Aaker, D., & Moorman, C. (2017). Strategic Market Management. Wiley. Burko, R. (2022, October 11). 5 Advantages and Disadvantages of Mobile Marketing . Retrieved from Elite Digital: https://elitedigitalagency.com/blog/5-advantages-and-disadvantages-of- mobile-marketing/ Deepak. (2023, May 2). What Are The Main Advantages And Disadvantages of Digital Marketing? Retrieved from Digital Catlyst: https://digitalcatalyst.in/blog/what-are-the-main-advantages-and-disadvantages-of-digital-marketing/ Ford, E. (2023, July 4). 9 essential email marketing metrics and how to improve them . Retrieved from Mailer Lite: https://www.mailerlite.com/blog/email-marketing-metrics?source=google&medium=cpc&campaign=5.%20Content:%20Product%20DSA%20[All%20Eng]%20tROAS&content=DSA% 20Blog&term=&ml_campaignid=1741543874&ml_adsetid=69685507898&gad_source=1&gclid=Cj0KCQiAz8GuBhCxARIsA Hayes, A. (2023, October 27). Brand Equity: Definition, Importance, Effect on Profit Margin, and Examples . Retrieved from investopedia: https://www.investopedia.com/terms/b/brandequity.asp Indeed. (2022, December 5). 10 Methods of Market Research . Retrieved from Indeed: https://www.indeed.com/career-advice/career- development/methods-of-market-research Krizancic, C. (2023, July 28). The Power of Television Advertising in 2023 . Retrieved from On the Spot Media: https://www.onthespotmedia.com/Resources/Updates/tv-in-2023-imrpove-your-television-advertising- strategy#:~:text=Despite%20the%20rise%20of%20various,ads%20with %20interactive%20digital%20content. LinkedIn. (2023, February 17). What are the best tools and strategies for email marketing analytics? Retrieved from LinkedIn : https://www.linkedin.com/advice/0/what-best-tools-strategies- email-marketing Manning, K. (2023). The 10 Types of Traditional Marketing Methods to Implement . Retrieved from Big Wave: https://bigwave.co.uk/blog/the-10-types- of-traditional-marketing-methods-to- implement/ Nierman, E. (2020, March 25). Five Steps To Effectively Use Social Media For Crisis Management . Retrieved from Forbes: https://www.forbes.com/sites/theyec/2020/03/25/five-steps-to- effectively-use-social-media-for-crisis-management/?sh=616b59df57b8 Novak, J. (2024, January 18). What Is Digital Marketing? Types, Strategies & Best Practices . Retrieved from Forbes: https://www.forbes.com/advisor/business/what-is-digital-marketing/#types_and_strategies_of_digital_marketing_section Qualtrics. (2023, Dec 28). Your ultimate guide to brand equity and how to build it . Retrieved from Qualtrics: https://www.qualtrics.com/experience-management/brand/brand-equity/ RedMoxy. (2022, November 17). How to Put a Positive Spin on Negativity in PR . Retrieved from RedMoxy: https://redmoxy.com/how-to-put-a-positive-spin-on-negativity-in-pr/ References
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