Assume that you have become the president of the marketing club student organization on your campus. Following your election, your faculty advisor has asked you to develop a comprehensive marketing plan to increase membership and improve the overall experience of being in the marketing club. Because of the great potential value it adds at a small cost, you plan to integrate social media marketing ideas into different components of the marketing plan. The marketing plan is an action-oriented document or playbook that guides the analysis, implementation, and control of the firm's marketing strategy. Creating a marketing plan requires the input, guidance, and review of employees throughout the various departments of a firm-not just the marketing department-so it is important that every future business professional understand the plan's components. The specific format of the marketing plan differs from organization to organization, but most plans include executive summary, situation analysis, marketing strategy, financials section, and controls section Match the social media strategy with the appropriate section of the marketing plan Examining the social media pages of competing student organizations to see what they are offering their members Using social media to position your organization as a great place for students to interact with business leaders Using social media to get a sales forecast for the marketing club's trip to an NBA game Using social media to get student feedback to help with any necessary contingency planning Analyzing the current social media profile of the marketing club and determining if it is a strength or a weakness Developing specific social media objectives, such as having 200 followers by the end of the first month of classes Interacting with club members to see if enough members will buy t-shirts for the club to break even on a fundraiser Controls Situation analysis Marketing strategy Financial:s ROMI- (Increase in Sales Marketing Campaign Cost) / Marketing Campaign Cost The figures from Veronica show that revenue before each campaign was $12,000. The cost of each campaign and subsequent revenues are as follows: Television . Campaign cost: $3,000 Revenue after campaign: $16,000 Social Media (Facebook, Twitter, YouTube, and Linkedln) Campaign cost: $12,000 Revenue after campaign: $30,000 Website Campaign cost: $5,000 Revenue after campaign: $18,000 Television Social Media Website 2 3 4 5 6 Revenues Before Campaign Revenues After Campaign Increase in Sales Campaign Cost ROMI 7 Normal Sales Growth 8 Net ROMI 1. Using the spreadsheet above, enter the attained figures to obtain the sales growth for each marketing campaign. What was your increase in sales for each campaign (television, social media, and website)? $4,000 (TV); $16,000 (Social Media); $3,000 (Web) O$4,C00 (TV), $18,000 (Social Media); $6,000 (Web) $6,000 (TV); $12,000 (Social Media); $2,000 (web) $8,000 (TV); $14,000 (Social Media); $4,000 (Web) 2. What was your ROMI tor each marketing campaign? O38 (TV): 50 (Social Media); 22 (Web) O33 (TV); 50 (Social Media); 20 (Web) O36 (TV); 55 (Social Media); 25 (Web) 33 (TV); 45 (Social Media); 10 (Web) 3, Veronica also informs you that her resort has a normal growth of 6% without the influence of the marketing campaign. You will need to adjust your figures by deducting the 6% from your ROMI to obtain the net ROMI using the formula below: Net ROMI = (Increase in Sales-Marketing Cost) / Marketing Cost-Normal Sales Growth Rate What is the net ROMI for each campaign? 27 (TV); 40 (Social Mediaj; 10 (Web) O31 (TV); 44 (Social Media); 40 (Web) O27 (TV); 44 (Social Media); 14 (Web) O29 (TV); 46 (Social Media); 12 (Web) 4. According to the data, which marketing campaign was the most profitable? O Website Social Media O Television