Expert answer:marketing plan 3
Expert answer:marketing plan
assignment_3_part_c_your_marketing_plan.docx
walker_tech_plan_1.docx
walker_tech____plan_2.docx
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1. Assignment 3: Part C: Your Marketing Plan
Due Week 8 and worth 280 points
To conclude your marketing plan, in Assignment 3, you will describe the company’s, marketing
strategy, implementation strategy, expansion plan, social media strategy, monitoring methods, and
integrated marketing communication strategy. Please refer to the plans 1 and 2 to complete.
Note: You may create and / or make all necessary assumptions needed for the completion of this
assignment.
Write a six to seven (6-7) page paper in which you:
1. Develop the company’s branding, pricing, and distribution strategy.
2. Classify the company’s major competitors as inter- or intra-competitors. Categorize the competitors’
major strengths and weaknesses.
3. Develop the differentiation strategy in relation to the closest competitor.
4. Establish whether the company’s intention is to be a leader or follower within the industry.
5. Specify two (2) social media and / or media tools that you would use as you develop your plan. Justify
each of your chosen tools.
6. Suggest the integrated marketing communications that are most relevant for your marketing plan. Relate
each marketing communication to your company’s advertising strategy.
7. Use at least five (5) academic resources that address sustainability and monitoring of effective marketing
plans and determine the applicability for your hypothetical company. These resources should be industry
specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not qualify
as academic resources.
Your assignment must follow these formatting requirements:
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Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides;
citations and references must follow APA or school-specific format. Check with your professor for any
additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the
course title, and the date. The cover page and the reference page are not included in the required
assignment page length.
The specific course learning outcomes associated with this assignment are:
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Develop strategies to assess performance and achieve marketing goals.
Develop pricing strategies and distribution channels for products.
Analyze integrated marketing communications and its relationship to advertising strategy.
Evaluate marketing research tools involved in the marketing process.
Use technology and information resources to research issues in marketing management.
Write clearly and concisely about marketing management using proper writing mechanics
Michael Walker
MKT500
10/30/2017
Prof McLaughlin
Walker Tech Inc.
Walker Tech Inc. (WTI), l is a small scale IT firm that specializes in the production of Custom IT
Business products such as accounting packages for its customers located in various states in the
US. The company headquarters is located in Atlanta, GA but it has several outlets which are evenly
spread within the country.
In respect to Meyer argument, some of the competitors that pose significant challenges to
WTI market share include huge corporations such as Citrix systems, Canopy Innovations, Blue
Talon, GTB technologies, and HP Enterprise Security Products. Equally, the company faces
competition from small IT business companies such as Nobscot, Observe IT and Out Start Inc. To
overcome the stiff competition posed by these companies, WTI has adopted strategies such as
providing quality products, conducting aggressive marketing and ensuring that it utilizes practices
such as corporate social responsibility which in the past have proved to have great appeal to the
public.
Like other IT firms, WTI is regulated by federal and states laws regarding data and IT
companies. Precisely, the company is governed by laws that deal with confidentiality and integrity
of end user’s information. For instance, when producing its products, the company is required to
adhere to the FISMA law of 2002 with aims at combating cybersecurity issues. The company is
also regulated by software licensing regulations and electronic signature laws.
The United States is one of the most developed democracies and peaceful countries
globally. Equally, the Federal and State governments have adopted several strategies that provide
an enabling environment for business entities in the country. For instance, reduced taxation for
small owned business, well-developed infrastructures, adequately developed social systems,
security among others are leading factors that provide investors with a conducive environment for
establishing and running their business.
With over six million people Atlanta is the ninth largest city in the country. Because of
this economic growth is experienced in various industrial sectors. Mainly, regarding IT sector, the
US economy has in the past registered significant increase through contributions of the IT sector.
With well-established organizations such as Apple, Dell, Compaq, Cisco, and HP among others
whose products and services have high reputation globally, the IT sector in the US has continued
to be a force in the globe to reckon with (Cateora, 2014). Equally, heavy government investments
in promoting IT technology in the country is among the factors that have seen the American IT
industry become a significant force.
Metro Atlanta is made up of 68% of white and around 30% blacks. However, it is
increasingly international, which is among the fourth largest in the country. Almost 65% of this
region is Protestant Christianity.
Walker Tech firm targets small and medium scale business organizations within the US as
its primary markets. Medium and Small business entities in the US make over 45% of the total
enterprises (Kaiser & Schreier, 2014). This market segment will be the primary source of the
company revenue. The company will conduct aggressive marketing using various media channels
such as social media, magazines, and the company website. Equally, prices charged for the
company services will be aligned to the complexity of the system required by the customer.
Remarkably, the needs of my target primary market may differ from one company to another.
Therefore, WTI management will have the responsibility of hiring competent and adequate
resources that can address the varying needs of such customers. Among the product and services
that WTI develops include human resource management applications, financial management
applications, and inventory management apps among other others.
Regarding secondary markets, WTI targets individuals or group of people who run a sole
proprietorship or partnership businesses. Like in primary markets, the company specializes in
production of customer products that are aligned to their specific needs. Prices charged, for the
company products are aligned to the different needs of the client company’s also. For instance,
business organizations that need complex IT services are charged relatively higher as compared to
a simple application required by another agency. Similarly, factors such as shipping cost of the
products to client premises, taxes charged by the government also compound to the total prices
charged for the products. To ensure that clients are informed of introduction of company products,
WTI has adopted various means of promoting its products, and this includes using media such as
televisions, radios, company website and social media. Remarkably, the company offers its
products and services physically and through electronic means using models such as E-commerce.
Competition in the business IT solutions industry has soared in the recent past.
Remarkably, the company faces competition from both seasoned enterprises such as Centrix
systems, canopy innovations, blue talon and new entrants such as Nobscot, observe IT and Out
Start Inc among others. To ensure that the company can wither this increased competition, WTI
will produce quality products and provide outstanding services and conducting aggressive
marketing is basic. WTI will use this strategy the company will divide its target market into two
segments, i.e., huge corporations, medium and small ones. After which information regarding
company products will be crafted with associated demonstrations. This will be followed by an
aggressive marketing using media channels such as television, company website, and social media.
Equally, to ensure that the company can wither the increased competition the company will have
to consider partnering with reputable companies such as Flok Inc. This will provide it with an
opportunity of riding on its strength.
Finally, over the past years, customers have exhibited a behavior of purchasing products that are
inclined to their specific needs, ones that are cost friendly and those that have additional features.
Therefore, to acquire more business, WTI will specifically seek orders and produce products after
the customer has provided the required specification. Similarly, charging different prices as per
the specifications provided as opposed to charging uniform prices for the products as done by
rivals such as canopy systems will serve as a strategy for attracting and retaining more customers.
WTI short-term business goal is to increase its market share by 5% in the next year as well
increase its outlets to 10. To achieve this goal the company will employ methods such as aggressive
marketing a, developing quality products and adopting business strategies such as mergers. In
respect to long-term goals, the company aspires to increase its market share by 7% in the next
five years and equally reduce employee turnover by 4 and above percentage. To achieve these
goals the company will use metrics such as web analytics to track flow of traffic to the company
websites. Specifically, the company will install applications such as Net flow analyzer- which can
track the movement of traffic to the site. Equally, the company will evaluate its growth rate
regarding revenues recorded on quarterly basis. This will help indicate how well company is
moving towards realizing its goals of increased market share. Finally, the company will use social
media and messages by customers to evaluate the value that customers attach to the company
products. Such information will similarly be central in producing products that are aligned with
the needs of the target primary and secondary markets.
Among the primary advantage of WTI Inc, is a reputation that it has created as a leading
small scaled organization in production of custom, efficient IT solutions for its clients. Despite,
being in operation for a few years, the company has been able to attract a significant market share
in the Atlanta Metropolitan IT industry. Therefore, building on this strength provides the company
with ground for advancing further and competing favorably with rival companies.
WalkerTech Inc. is privy of the significant role that competent human resource has to an
organization. Atlanta Metro is one of the national leaders in attracting college-educated 25-34year-olds, according to the Metro Atlanta Chamber of Commerce. In the city, 39.9 percent of adults
hold at least a bachelor’s degree compared to the national average of 27%. The net impact of such
a practice has led to production of quality products. Additionally, this has served to earn the
company a significant command of the market.
Walker Tech Inc. commands a significant capital resource as compared to other IT
companies of its stand. This way the company has been able to expand its operation and opened
new branches nationally. Ability to produce products and offer outstanding services that are
aligned to specific needs of the clients has been a force that will lead WTI to increase its market
share significantly. Based on the fact that each company has its own dynamic needs, being able
to produce products that appropriately address these needs is among the strengths that give WTI
an edge over its rivals.
Despite the above strengths, WTI has its share of weaknesses. Firstly, the company’s
structure employed by the organization is unable to support the increasing number of clients. In
fact, at times the system breaks down- the fact that results to denial of services which is an irritating
experience to customers directly impacting client retention. Secondly, use of obsolete software in
some of the company outlets leads to poor quality of services. Thirdly, outsourcing of experts such
as programmers who work on contract basis has occasionally led them to turn into competitors of
the company. Finally, the organization has not adopted adequate measures to protect its IT
infrastructure. For example, there are no high securities measures that have been embraced by the
agency to protect its sensitive information as it moves across the distributed system to the main
server at the organization headquarter. This jeopardizes the integrity and confidentiality of the
organization and customer’s sensitive information.
With an increase in the number of business organizations that are moving from the use of
manual systems to automated systems, the demand for the company products is likely to continue
increasing in the future. Secondly, by adopting a common platform, the organization will be able
to expand its IT services to its new branches without incurring additional cost. This is anchored on
the fact that the new branches will ride on the already existing IT infrastructure. Thirdly, adoption
of the wireless infrastructure provides the organization with an opportunity of reaching clients who
are not served with the wired IT infrastructure. The company will expand its market share and
consequently revenue. Finally, by partnering with reputable companies such as cloud IT systems,
WTI will be able to ride on in its strengths such as a relatively expansive market share, with
seasoned staff among other advantages.
Several threats threaten the operations of Walker Tech Inc. To begin with, entry of new
plays such as Nobscot and Observe IT has seen the level of competition in the market increase
(Kaiser & Schreier, 2014). As such, WTI has to use more resources in conducting marketing
activities overcome the souring competition. Secondly, the emergence of cloud competing
technology-whereby organization access IT infrastructure and apps from services providers may
negatively impact growth in the future should we neglect innovative opportunities. Thirdly,
adoption of outsourcing strategy provides room for emergence of potential competitors which may
lead to increased competition. Finally, with new laws coming into place to regulate the IT business
environment in the US, some of the laws adopted by the organizations impact the operations of
the company.
Running head: Walker Tech Inc.
1
Michael Walker
MKT500
Walker Tech Inc
Prof. McLaughlin
11/15/2017
Walker Tech Inc
2
Walker Tech Inc.
Branding Strategy
Developing a brand for the company Walker Tech Inc. will encompass three core business
components that will form the blueprint for the company to develop marketing strategy and
tactics. The purpose of the business will be evident in the brand strategy, with emphasis on
functionality and intention of the organization. Consistency will be emphasized to ensure that all
products and services by the company maintain a sense of uniformity (Mosmans, 2005).
Emotional impact in the brand will guarantee that customers connect with the business. The
brand strategy will repeatedly be communicated and in multiple ways and hence the four
marketing components of the primary target, competition, and unique selling proposition will be
emphasized. The company’s target market is small and medium scale business organizations, and
secondary markets are individual and groups of people running a small business (Mosmans,
2005). Competition for Walker Tech Inc. is primarily from seasoned companies and new entrants
in the market. The company’s product offering is customized business products like accounting
packages. To sufficiently make the company brand appeal to its audience, the unique selling
position of the company will be the customization of business solutions to address individual
needs of consumers as opposed to offering uniform products. The brand name will encompass
the three aspects of a brand strategy, consistency, emotional impact, and purpose: Walker Inc.
with the slogan Making Technology. The brand logo will convey an easy to understand message
using an icon, to grab the attention of the target audience. The letters WTI will be used as the
company logo, in neutral grey colors.
Walker Tech Inc
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Marketing Strategy
The primary objective of the company is to offer business solutions to individuals, small, and
medium companies. The marketing strategy will aim to ensure that the company product and
service mix meets the demands of the customers and develop long-term and profitable relations
with the customers. The marketing strategy will, therefore, need to be flexible to ensure that
changing customer demands and perceptions are accommodated in the strategy (Jain, & Haley,
2009). The objective will be to identify and communicate the benefits that the company’s
business offerings have on the target market. The marketing strategy will be targeted to existing
and upcoming small and medium businesses that implement IT business solutions (Jain, &
Haley, 2009). The extensive market research will be conducted to ascertain specific needs of this
audience and address them more successfully compared to competitors. The strengths of the
product which include making custom IT solutions for clients and the strategy will build on the
strengths. Marketing activities will be conducted through numerous forms of advertising, public
relations, the internet and a point of sale. The strategy will be monitored and evaluated to ensure
that its objectives are achieved (Jain, & Haley, 2009). The implication is that the present
performance of the strategy will inform future marketing strategies, for instance, asking new
clients how they heard about the product.
Appropriate Time Table to Implement Your Plan
The marketing strategy will be tailored to retain existing customers and attract new clients using
the promise of quality custom IT business solutions. The plan will be implemented by analyzing
the needs of different groups, focusing on the market niche where the company can thrive and
address the needs of 20% of the customers who offer 80% of the company’s profits. The plan
Walker Tech Inc
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will be rolled out within a 6 month period. Within the first month, extensive research will be
conducted to identify the target market and determine how the message will be tailored to
accommodate their unique needs. The promotional objectives and budget will be ascertained
during the initial month. Recruiting an agency to facilitate the implementation of the strategy, a
product name, approvals for creative concepts, creating ads and deciding on the media and
budget allocation for each of them will be finalized within the second month. Within the third
month, the strategy will be launched to customers, and a sales force and trade promotions will be
rolled out. Corporate communications like press/media releases, brochures and updating the
company’s website will be conducted during the fifth month. Within the last month, product
augmentation will be performed to determine the extra value that the product offers.
Prepare a Positioning Statement
Walker Inc. provides customized business IT solutions with specialized quality than any other
company in the industry. We do this by focusing on small and medium-sized business
organizations in America, aligning services with the complexity of systems and addressing the
needs of the customers using competent and adequate resources.
Perceptual Map
Relevant Consumer Behavior for your Target Market.
The target market for the …
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