Strategic Marketing Plan

Selectthe actual company to use for this project. Please select apublic company. By selecting a public company, you will have access to the appropriate materials.

Analyze whether the company will be affected by emerging technologies or trends in the hardware and software industries.

Social Forces

Analyzesocial trends and how they may affect the business. Considerations may include whether your business will be affected by demographic trends, a growing dependence on computers, or whether interest in your product might be affected by growing preferences in how things are done or changing social values.

Current Target Markets

Define the company's current target markets. Describe these targets' demographic, geographic, psychographic, and product usage.

Review Current Marketing

Review the company's current marketing tactics. Consider how people find out about the product, get information about the product or service, what might be involved in the buying process, and what money is available for marketing. If your company is a start-up, describe your competitors' current marketing.

SWOT Analysis

Assess the company's strengths, weaknesses, threats, and opportunities, and then evaluate how to address these in your marketing plan.

Strengths

Assess the company's competitive advantage. Consider core competencies, assets, location, practices, etc., that are distinct in how the organization meets its customers' needs.

Weaknesses

Assess what limits the company may have in its current marketing strategy. Consider if a company's weakness needs to be addressed through Public Relations or Marketing.

Opportunities

Assess the opportunities you see based on trends or environmental conditions.

Threats

Assess the threats or limitations that may interfere with the company's ability to meet its objectives or interfere with marketing plans.

Strengths to Opportunities & Converting Weaknesses and Threats

Convert weaknesses and threats to strengths, then strengths to opportunities in the marketing plan. Consider the implications for addressing supplier relationships, implementing new technologies, changing the product line, or addressing new markets.

Marketing Objectives

Establish marketing objectives based on the results from the SWOT analysis. Marketing objectives must align with corporate goals, modified by the company's resources. Objectives should include a date for the completion of the objective and how success will be measured. For example, The company will expand its marketing efforts to have a new market segment of 21- to 29-year-olds. This will entail the development of a customized product by June 2020 that will address this age group's specific psychographic and technological needs. This strategy is expected to attain a 20% growth in overall sales by January 2020. Customer loyalty (willingness to recommend the product) will increase by 30%.

Please also provide at least two peer review articles with in-text citations.