Marketing Plan Part E: Evaluating Success

In this part of the Marketing Plan, you will discuss different measures of success. After putting all the effort into planning your marketing strategy, it is important to also have an idea of what you will measure and how you will decide if the campaign is working or not. After all, marketing dollars are limited, and you will want to spend them in the way that generates the most business.

Instructions

This week, you will submit the final part of your Marketing Plan.

Add this portion of your marketing plan to the portion submitted last week, to complete your marketing plan (be sure to continue the formatting provided in the template). This section of your plan should be approximately 1-2 pages long with properly cited in-text citations.

Use these headings in bold font in your plan and cover the points beneath it.

Tip: Be sure to take a look at the Rubric below! This will give you a solid understanding of the exact criteria that will be used to grade this part of your paper.

Evaluating Performance

Think back through the components of your marketing plan. How will you determine if your goals and objectives are being met? There are several metrics to choose from that can help shed light on whether or not your strategy is working. Discuss how you might use TWOmetrics from each of the four following categories to evaluate if your plan is successful.

Remember: If you use any resources, you must properly cite them using APA formatting.

Measuring Digital and Social Media Effectiveness

Reach metrics

Acquisition metrics

Engagement metrics

Conversion metrics

Retention Metrics

Financial Performance Metrics

Return on Marketing Investment

Revenue Analysis

Market Share Analysis

Profitability Analysis

Metrics for Evaluating Customer Relationship Management

Share of Customer

Customer Equity

Customer Focus

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Marketing Plan
Part A:
Marketing Plan Purpose, Mission Statement and Competitive Advantage
Jonathan Darnell
ECPI University
MKT214: Marketing Management
John C. Rajan
6/2/2024
2
Introduction
(This instruction box is to be deleted before submission of your plan.)
Write a few sentences introducing this business.
1. Fully describe what products/services the business offers.
2. How long have they been in business? Include a brief history of the company.
Purpose of a Marketing Plan
(This instruction box is to be deleted before submission of your plan.)
1.
Explain the purpose of a marketing plan in general as described in your textbook.
2.
Discuss how this marketing plan will support the business’s goals.
You should write at least one full paragraph to explain each of these.
Remember to cite your textbook as your source.
Mission Statement
(This instruction box is to be deleted before submission of your plan.)
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Given the facts in the vignette create a short mission statement that you believe captures
the essence of this business.
Explain why you have selected the specific wording that you did. In other words, why
did you choose to phrase it in this particular way?
Discuss what you feel this statement would mean to the customers, and how you feel that
it would drive their behavior.
Discuss how employees of this company would interpret the Mission Statement, and how
you hope it would drive their behavior.
3
Competitive Advantage Statement
(This instruction box is to be deleted before submission of your plan.)
Once you have written a mission statement, you can write your competitive advantage statement. This
statement takes what you have said in your Mission Statement and proves it. It brags about the
specialness of your business in just a few words. It says what you do that’s better than anybody
else. Be sure to explain why you think this Competitive advantage statement compliments your Mission
Statement and does justice to the uniqueness of this business.
4
References
(This instruction box is to be deleted before submission of your plan.)
Below is a sample References page with various types of resources. Use the formatting below
for each of your resources. You will add to your references list throughout your project.
Achterberg, J. (1985). Imagery in healing. Shambhala Publications.
American Psychological Association. (2017). Stress in America: The state of our nation.
https://www.apa.org/news/press/releases/stress/2017/state-nation.pdf
Baider, L., Uziely, B., & Kaplan De-Nour, A. (1994). Progressive muscle relaxation and guided
imagery in cancer patients. General Hospital Psychiatry, 16(5), 340–347.
https://doi.org/10.1016/0163-8343(94)90021-3
Ball, T. M., Shapiro, D. E., Monheim, C. J., & Weydert, J. A. (2003). A pilot study of the use of
guided imagery for the treatment of recurrent abdominal pain in children. Clinical
Pediatrics, 42(6), 527–532. https://doi.org/10.1177/000992280304200607
Bernstein, D. A., & Borkovec, T. D. (1973). Progressive relaxation training: A manual for the
helping professions. Research Press.
Bottomley, A. (1996). Group cognitive behavioural therapy interventions with cancer patients: A
review of the literature. European Journal of Cancer Cure, 5(3), 143–146.
https://doi.org/10.1111/j.1365-2354.1996.tb00225.x
Cohen, M., & Fried, G. (2007). Comparing relaxation training and cognitive-behavioral group
therapy for women with breast cancer. Research on Social Work Practice, 17(3), 313–
323. https://doi.org/10.1177/1049731506293741
Freebird Meditations. (2012, June 17). Progressive muscle relaxation guided meditation
[Video]. YouTube. https://www.youtube.com/watch?v=fDZI-4udE_o