Strayer Marketing Plan Week 6 Slide Drafts

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timer Asked: Feb 6th, 2019
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Question Description

The first attachment is the peer responses in which you must provide a response. The 2nd attachment is the Assignment requirements. The 3rd attachment is the PowerPoint Slide. The slides are provided with instruction on what should be on each slide just remove/add the information that is required. You should start on slide 8.


You are still using CoreLogic as the company and the product is the Property Tax Estimator.

Attachment preview

David’s Post

Hello Class,

Considering the topic for this week, I believe that McMaster-Carr offers 3 out of the 5 levels in the B2B elements of value pyramid.  Within those levels, McMaster-Carr meets several elements such as regulatory compliance, product quality, availability, and responsiveness to name a few (Almquist et al., 1).  For example, there are numerous products that we have that have some form of restriction on which type of platform a product can ship on.  Products that contain flammable material may be restricted to fly on a plane, but it is suitable to be carried on a vehicle.  Additionally, McMaster-Carr has a long standing of delivering products same or next day, and to meet customers expectation, they will pay a higher premium to carriers to ensure those products get to the customer.

I also believe that McMaster-Carr provides 2 out of the 5 levels in the B2B elements of value pyramid with its employees.  They offer great perks and provide hope for some of their employees.  For example, some employees may have a hard time to conceive a child.  McMaster-Carr offers, free of charge, two In Virto Fertilization test for those employees who are unable to conceive naturally.  If that process does not work, they also provide a substantial amount of money for adoption.  Furthermore, McMaster-Carr meets the psychological needs of its employees according to Maslow’s hierarchy of needs. 

I believe this all ties into Kotler and Keller achieving excellence in the services marketing section of our textbook.  Kotler and Keller state, in the service sector, excellence must cover broad areas of marketing: external, internal, and interactive.  External marketing describes the normal work of preparing, pricing and distributing the service to customers well.  Internal marketing describes the training and motivating employees to serve customers well.  Combined, the interactive marketing describes the employees’ skill in serving the client (Kotler and Keller, 2).  By meeting several elements in all levels of the B2B elements of value pyramid, McMaster-Carr can achieve excellent customer loyalty. 

 References:

Eric Almquist, Jamie Cleghorn, and Lori Sherer.  2018.  The B2B Elements of Value.  Harvard Business Review

Philip Kotler and Kevin Lane Keller. 2016.  A Framework for Marketing Management. Pearson Education, Inc.

Caren’s Post

Dr. Robinson and Class,

Coaching with Caren is referred to as a pure service meaning it is intangible and inseparable (Kotler & Keller, 2016, pp. 160-161). The authors go on to explain that services are high in experience and credence qualities and have a higher risk associated with purchases (Kotler & Keller, 2016). I have used this information when considering the elements of value that best match or suite the company.  I have not included table stakes or functional as those are requirements to be in business.

 

The Elements of Value Pyramid we match the needs of Emotional, Life Changing and Social Impact.  In the emotional category, the services provided encourage wellness, reduces anxiety, rewards the client, & includes access. Whereas in the Life Changing needs category we offer hope, motivation, feelings of belonging, and self-actualization and our ultimate goal is having the client realize self-transcendence (Almquist, Senior, & Bloch, The Elements of Value: Measuring and delivering what consumers really want, 2016). 

 

The B2B Elements of Value we focus on the ease of doing business category and individual value.  Because the B2B Elements of Value apply to both C2B and B2B for our company, we strive to build relationships by way of being responsive, offering expertise, cultural fit, flexibility, and risk reduction; while empowering growth & development and finding purpose. (Almquist, Cleghorn, & Sherer, The B2B Elements of Value; How to measure and deliver what business customers want, 2018)

 

This combination of elements best match the company and will give us a competitive advantage, primarily due to our versatility and flexibility.  We cannot be all things to all people. However, we will be flexible and will work with clients outside of our target market.  We will not turn away those seeking a life or business coach to better themselves or for assistance navigation life-changing events.

Works Cited

Almquist, E., Cleghorn, J., & Sherer, L. (2018, March-April). The B2B Elements of Value; How to measure and deliver what business customers want. Harvard Business Review. Retrieved February 2, 2019, from The Harvard Review: www.hbr.com

Almquist, E., Senior, J., & Bloch, N. (2016, September). The Elements of Value: Measuring and delivering what consumers really want. Harvard Business Review. Retrieved 02 02, 2019, from Harvard Business Review: www.hbr.org

Kotler, P., & Keller, K. L. (2016). A Framework for Marketing Management: Marketing in the Global Environment (6th ed.). Boston: Pearson Education.

Unformatted Attachment Preview

David’s Post Hello Class, Considering the topic for this week, I believe that McMaster-Carr offers 3 out of the 5 levels in the B2B elements of value pyramid. Within those levels, McMaster-Carr meets several elements such as regulatory compliance, product quality, availability, and responsiveness to name a few (Almquist et al., 1). For example, there are numerous products that we have that have some form of restriction on which type of platform a product can ship on. Products that contain flammable material may be restricted to fly on a plane, but it is suitable to be carried on a vehicle. Additionally, McMaster-Carr has a long standing of delivering products same or next day, and to meet customers expectation, they will pay a higher premium to carriers to ensure those products get to the customer. I also believe that McMaster-Carr provides 2 out of the 5 levels in the B2B elements of value pyramid with its employees. They offer great perks and provide hope for some of their employees. For example, some employees may have a hard time to conceive a child. McMaster-Carr offers, free of charge, two In Virto Fertilization test for those employees who are unable to conceive naturally. If that process does not work, they also provide a substantial amount of money for adoption. Furthermore, McMaster-Carr meets the psychological needs of its employees according to Maslow’s hierarchy of needs. I believe this all ties into Kotler and Keller achieving excellence in the services marketing section of our textbook. Kotler and Keller state, in the service sector, excellence must cover broad areas of marketing: external, internal, and interactive. External marketing describes the normal work of preparing, pricing and distributing the service to customers well. Internal marketing describes the training and motivating employees to serve customers well. Combined, the interactive marketing describes the employees’ skill in serving the client (Kotler and Keller, 2). By meeting several elements in all levels of the B2B elements of value pyramid, McMaster-Carr can achieve excellent customer loyalty. References: 1. 2. Eric Almquist, Jamie Cleghorn, and Lori Sherer. 2018. The B2B Elements of Value. Harvard Business Review Philip Kotler and Kevin Lane Keller. 2016. A Framework for Marketing Management. Pearson Education, Inc. Caren’s Post Dr. Robinson and Class, Coaching with Caren is referred to as a pure service meaning it is intangible and inseparable (Kotler & Keller, 2016, pp. 160-161). The authors go on to explain that services are high in experience and credence qualities and have a higher risk associated with purchases (Kotler & Keller, 2016). I have used this information when considering the elements of value that best match or suite the company. I have not included table stakes or functional as those are requirements to be in business. The Elements of Value Pyramid we match the needs of Emotional, Life Changing and Social Impact. In the emotional category, the services provided encourage wellness, reduces anxiety, rewards the client, & includes access. Whereas in the Life Changing needs category we offer hope, motivation, feelings of belonging, and self-actualization and our ultimate goal is having the client realize self-transcendence (Almquist, Senior, & Bloch, The Elements of Value: Measuring and delivering what consumers really want, 2016). The B2B Elements of Value we focus on the ease of doing business category and individual value. Because the B2B Elements of Value apply to both C2B and B2B for our company, we strive to build relationships by way of being responsive, offering expertise, cultural fit, flexibility, and risk reduction; while empowering growth & development and finding purpose. (Almquist, Cleghorn, & Sherer, The B2B Elements of Value; How to measure and deliver what business customers want, 2018) This combination of elements best match the company and will give us a competitive advantage, primarily due to our versatility and flexibility. We cannot be all things to all people. However, we will be flexible and will work with clients outside of our target market. We will not turn away those seeking a life or business coach to better themselves or for assistance navigation lifechanging events. Works Cited Almquist, E., Cleghorn, J., & Sherer, L. (2018, March-April). The B2B Elements of Value; How to measure and deliver what business customers want. Harvard Business Review. Retrieved February 2, 2019, from The Harvard Review: www.hbr.com Almquist, E., Senior, J., & Bloch, N. (2016, September). The Elements of Value: Measuring and delivering what consumers really want. Harvard Business Review. Retrieved 02 02, 2019, from Harvard Business Review: www.hbr.org Kotler, P., & Keller, K. L. (2016). A Framework for Marketing Management: Marketing in the Global Environment (6th ed.). Boston: Pearson Education. Assignment. Marketing Plan Marketing Plan – Week 6 Slide Drafts (Due by Sunday, midnight of your time zone in Week 6) Week 6 Instructions: • Download and save this Template: Week 6 Draft Slides • Draft the following Slides this Week: o B2C or B2B Target Markets (B2C slides 7-12; B2B slides 13-17). What markets are currently targeted? ▪ What approach is being taken (undifferentiated, differentiated, concentrated, or micromarketing)? ▪ What is recommended (support your recommendation with research)? Competitive and SWOT Analysis (Slides 18 and 19) Who are 2 of your major competitors? Be sure to address pricing, features, and benefits. Compare your product/service to major competitors o ▪ ▪ ▪ Suggestion: use the table included in the Marketing Plan PowerPoint Template and include your competitive analysis information Marketing Plan CoreLogic Inc. ASHLEY MURRAY DR. MARK ROBINSON JANUARY 27, 2019 JWI518 Table of Contents-Agenda  Table of Contents-Agenda  SWOT Analysis  Executive Summary  Competitive Analysis  Description of ProductService  Pricing Strategy  Product Life Cycle  Value Proposition  Feature and Benefits  Marketing Promotion  Marketing Goals and Objectives   B2C Target Markets Overview and Target Market Segments Budget – Traditional Media, Social MediaDigital Media  Distribution Strategy  Marketing Measurements / Marketing Metrics  Reference Page  B2B Bases for Business Segmentation Executive Summary  Company Name: Use the company you’ve been discussing in your weekly DQ; if you are starting your own company create a hypothetical name, i.e., Mark’s Car Detailing Service, LLC; Bob’s B&B, etc.  Create a high-level summary of the plan’s content and purpose; what will be the result once you execute your marketing plan?  One slide only Description of Product/Service  Product: Property Tax Estimator  A tool to serve as the cornerstone for your real property tax data procurement process.  Property Tax Estimator helps deliver a comprehensive view of real property tax information for a specific address, even for new construction loans.  This product is owned by CoreLogic through the Tax Operation segment of the company. Product Life Cycle Stage  Property Tax Estimator is in the Growth Stage Features Benefits *Provides quick address verification *Build trust and manage expectations by delivering accurate, timely information to your homeowners. *Access estimated annual tax amounts as well as the most current actual tax amount available in our database. *Increase loan officer productivity and accuracy Valid addresses get a response with agency information including new construction *Use a consistent process to estimate closing and escrow amounts *Access accurate real property tax information for a specific property address at the time of loan application *Faster and accurate closing Features and Benefits Build brand awareness Public relations media placements Mix of products or services Increase market share Increase sales Marketing Goals B2C-B2B Market Segmentation   If your marketing plan company sells in a Business-to-Consumer (B2C) marketplace; non-profits use B2C  Use and complete slides 9-13  Delete slides 14-18 If your marketing plan company sells in a Business-to-Business (B2B) marketplace  Use and complete slides 14-18  Delete slides 9-13 B2C Target Markets Overview  What approach is being taken (undifferentiated, differentiated, concentrated, or micromarketing)? (Chapter 6, Full Market coverage section) B2C Segmenting by Geography Bases for Segmentation (See Table 6.1 in textbook)  Geographic  Demographic  Psychographic  Behavioral  FILL IN DETAILS BELOW THEN DELETE THIS TEXT  Nation or country  State or region  City or metro size  Density  PRIZM B2C Segmenting by Demographics Bases for Segmentation  (See Table 6.1 in textbook)  Geographic  Demographic  Psychographic  Behavioral FILL IN DETAILS BELOW THEN DELETE THIS TEXT Age, race, gender  Income, education  Family size  Family life cycle  Occupation  Religion, nationality  Generation  Social class  B2C Segmenting by Psychographics Bases for Segmentation (See Table 6.1 in textbook)  Geographic  Demographic  Psychographic  Behavioral  FILL IN DETAILS BELOW THEN DELETE THIS TEXT  Lifestyle (VALs, Figure 6.1 in textbook)  Activities  Interests  Opinions  Personality  Core values B2C Segmenting by Behavioral Bases for Segmentation (See Table 6.1 in textbook) Geographic  Demographic  Psychographic  Behavioral   FILL IN DETAILS BELOW THEN DELETE THIS TEXT Occasions  Benefits  User status  Usage rate  Loyalty status  Buyer-readiness  Attitude  B2B Segmenting by Demographics Bases for Segmentation (See Table 6.2 in textbook)  Demographics  Operating Variables  Purchasing Approaches  Situational Factors  Personal Characteristics  FILL IN DETAILS BELOWTHEN DELETE THIS TEXT    Industry(ies) Company size: # of employees or by annual sales-revenues) Location B2B Segmenting by Operating Variables Bases for Segmentation  FILL IN DETAILS BELOW THEN DELETE THIS TEXT  Technology  User or nonuser status  Customer capabilities (See Table 6.2 in textbook) Demographics  Operating Variables  Purchasing Approaches  Situational Factors  Personal Characteristics  B2B Segmenting by Purchasing Approaches Bases for Segmentation (See Table 6.2 in textbook)  Purchasing functions  Power structure  Nature of existing relationships  General purchasing policies  Purchasing criteria  Demographics  Operating Variables  Purchasing Approaches  Situational Factors  Personal Characteristics  FILL IN DETAILS BELOW THEN DELETE THIS TEXT B2B Segmenting by Situational Factors Bases for Segmentation (See Table 6.2 in textbook) Demographic  Operating Variables  Purchasing Approaches  Situational Factors  Personal Characteristics   FILL IN DETAILS BELOW THEN DELETE THIS TEXT Urgency  Specific application  Size of order  B2B Segmenting by Personal Characteristics Bases for Segmentation (See Table 6.2 in textbook) Demographic  Operating Variables  Purchasing Approaches  Situational Factors  Personal Characteristics   FILL IN DETAILS BELOW THEN DELETE THIS TEXT Buyer-seller similarity  Attitude toward risk  Loyalty  SWOT Analysis S Strengths W •Advantages •Experience, knowledge •Unique caracteristics •Resources •Geographical advantage, location •Competence, capabilities •Quality, reputation O Opportunities •Strategic alliances, partnerships •Product development •Import, export •Innovation an technology development T Weaknesses •Disadvantages •Gap in experience, knowledge •Financial aspects •Reliability and trust •Loss of key staff •Geographical factors Threats •This is an example text. •Loss af alliances and partners •Price infaltion/deflation •Strong competition •Competitors new products and innovation Competitive Analysis   Who are the two major competitors – pricing, features, benefits, differentiators, target markets? Compare your product/service to 2 major competitors  Recommendation: create a table with comparative competitive information (include your product at the top or in the left hand column); on the next slide, provide overview bullet points analyzing what the comparative information shows.  One slide only; an example is on the next slide  Complete slide 21 then delete this slide Competitive Analysis Chart [YOUR COMPANY] [COMPETITOR #1] [COMPETITOR #2] OVERVIEW: The program includes… OVERVIEW: OVERVIEW: ADDITIONAL VALUE: ADDITIONAL VALUE: DETAILS: DETAILS: COST: COST: High-level look at each competitor or competitor's product. Include your own company as well, so you can compare and contrast. ADDITIONAL VALUE: Beyond basic overview, what value do they provide to a potential customer? DETAILS: Get a little deeper into the details of each product or service COST: Cost always an important comparison, but should never be looked at alone. By understanding the value and details of the product, you can better compare Pricing Strategy   Pricing Strategy Identify the price for your product/service.  Explain why the price better supports the marketing objectives  Consider placing your pricing plan in a table for readability See chapter 11  One slide only  Value Proposition  Describe the target audience, who are they? Why would a customer buy it? What is the value that it delivers?  Create a 2-3 sentence value proposition statement encompassing information above. Then add in 3-5 bullet points as to what you are offering your customers (Value Pyramid)  One slide only Marketing Promotion  Marketing promotion (try to use a combination of traditional and social media / digital marketing tools); this slide must sync with the Budget slide   List marketing communications mix and promotion tools that support marketing objective(s); See Table 14.1 from the printed version of the textbook  Social media (Facebook, Instagram, Twitter, LinkedIn, YouTube, Pinterest etc.); review Assignment 2  Mobile marketing – Mobile apps for smartphones, tablets, and ‘phablets’ Which initiatives should be included in each stage of the Product Life Cycle?   See Tables 9.4 and Tables 14.1 for ideas No more than 2 slides Marketing Budget  Budget  Estimate the cost of the marketing campaign using slide 24 Marketing Promotion as a guide  Note: B2B companies spend between 2-4% of annual sales between traditional and digital marketing; B2C spend between 4-6% of sales)  Create a marketing budget table. Allocate the appropriate cost to each marketing activity tool  Two slides – traditional media, social-digital media (see next 2 slides for template)  Delete this slide from final marketing plan Sample Marketing Budget – Traditional Media Marketing Activity (2016-2017) Budget Amount Television/Cable TV $0 Print Media $0 Radio $0 Billboards in airports, train stations, subway systems $0 Cinema ads $0 Direct marketing – mailings $0 Telemarketing $0 Outdoor Billboards $0 Bus Advertisements $0 Total $0 Sample Marketing Budget – Digital Media Marketing Activity (2016-2017) Budget Amount Search ads (paid search or pay-per click; display, banner ads) $0 Email marketing campaign $0 Google AdWords $0 Text blasts $0 Facebook $0 Twitter $0 YouTube $0 Snapchat $0 Instagram $0 Mobile app(s) $0 Total $0 Distribution Strategy – Products Only  Ignore this slide if your marketing plan company is a service or non-profit  Channels of distribution  Summarize channels of distribution. Do you recommend direct channel, indirect channel, or multiple channels? Direct marketing channel has no intermediary levels; the company sells directly to consumers. Indirect marketing channels contain one or more intermediaries  See Chapter 12 and the section titled Identifying Major Channel Alternatives  See the next slide for an example  One slide only Distribution Strategy – Products Only Ignore this slide if your marketing plan company is a service or non-profit  Channels of distribution   Do you recommend intensive, selective, or exclusive distribution and why? Intensive distribution is a strategy used by producers of convenience products and common raw materials in which they stock their products in as many outlets as possible Selective distribution is a strategy when a producer uses more than one but fewer than all of the intermediaries willing to carry the producer’s products • Televisions • Appliances Exclusive distribution is a strategy in which the producer gives only a limited number of dealers the exclusive right to distribute its products in their territories • Luxury automobiles • High-end apparel  Show plan of what percent share of distribution will be contributed by each channel – a pie chart might be helpful Measure – Marketing Metrics  Measure   How will your marketing objectives be measured? Review your marketing goals and objectives slide  Increasing brand awareness?  Increase in market share or donations?  Increase in sales-revenues?  Marketing measures of effectiveness  Marketing metrics (See Table 2.2 from the textbook) One slide only References  The references slide should reflect 10 weeks of learning and content which includes chapter readings, lectures, Harvard Business Review articles and any external content you brought into the course  No more than two slides ...
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Tutor Answer

ChloeL134
School: UIUC

Here we goLemme know in case of any adjustmentsAll the best and good bye

Response to David
Hello everyone
I would like to conquer with the opinion on David on the identification of the different levels of B2B
element of value pyramid in the work of McMaster- Carr. I would add that the three components lay in
the broad categorization of the table stake, functional value and the ease of doing business value, which
traces the conceptual roots to the hierarchy of B2B transactions (Almquist et al., 2018). The application
of this model at McMaster- Carr achieves to address all the needs of their employees, starting from the
most basic needs to their psychological needs of providing them with opportunities to have children of
their own. I recommend how you have intertwined his opinion on the B2B elements of value pyramid to
the work of Kotler and Keller in service marketing, where the markets have to satisfy all the needs of the
customers at all their levels to promote loyalty.
Almquist, E, Cleghorn, J & Sherer, L. (2018). The B2B elements of value. Harvard Business Review

Response to Caren
In my opinion, Coaching with Caren is a unique business that encompasses all the elements of B2B
elements of the value pyramid. Despite meeting the basic requirements such as ethical and regulatory
compliance, the company also aims at higher levels of customer satisfaction by offering emotional
support to the customers. I think that this role is achieved by focusing on encouraging wellness and
reducing anxiety to the customers. These objectives are at the peak of the B2B elements of the value
pyramid, under the category of purpose. In my opinion Coaching with Caren aims to build customer
loyalty by being responsive, merging its services to the cultural needs of the customers and offering
flexibility expertise. These strategies will give the company a competitive advantage that will support it
to prevail in the industry.


Marketing Plan
CoreLogic Inc.
ASHLEY MURRAY
DR. MARK ROBINSON
JANUARY 27, 2019

JWI518

Table of Contents-Agenda


Table of Contents-Agenda



SWOT Analysis



Executive Summary



Competitive Analysis



Description of ProductService



Pricing Strategy



Product Life Cycle



Value Proposition



Feature and Benefits



Marketing Promotion



Marketing Goals and
Objectives





B2C Target Markets Overview
and Target Market Segments

Budget – Traditional
Media, Social MediaDigital Media



Distribution Strategy



Marketing Measurements /
...

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Review

Anonymous
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