Executive Summaries

EXECUTIVE SUMMARIES OF MARKETING REPORTS

Incorporating Digital Marketing into a Marketing Plan

MKTG 455 – Strategic Internet Marketing | Professor: Neil Granitz

Description and Goals of Assignment

The learning objectives of this assignment were to apply concepts, techniques, and skills covered in the classroom to a real world setting. At the start of the project, students were be divided into teams who were responsible for incorporating digital marketing into a marketing plan to launch a new digital business or work with a sponsored organization on their digital marketing. This required working in a team and the probability of teams to meet outside of normal class hours. Within the team, different members were assigned on the responsibility for different functional areas of digital marketing such as Business Managers, Researchers/Strategists, Marketing Communications, Web Designers, Logistics and Customer Service, Presenters, and Bloggers.

Methodology

Team Project Part 1: Choosing a Business Idea

In the first part, each team member brought in 1 idea and the team must choose 2 ideas. There were 6 criteria when choosing ideas: (1) new business or existing business, (2) focus on product, (3) easy to procure, (4) easy to send, (5) minor profit objective, and (6) can be offered online already.

Team Project Part 2: Setting Up the Business

In the second part, we set up the basics of our business. First, to describe the product, we were required to list every item that we were planning on selling including every product and every permutation of it. Second, we named the company and chose an available domain name. We made sure that our domain name was easy to type in and easy to search. Third, we chose the web-hosting service. We compared three organizations before making our decision. And last, with a budget of $1,000 per month and based upon the business running for three months, we listed our expenses for incorporation, registering the domain name, and web-hosting service. In addition, we left money for marketing, packaging, fulfillment, and inventory.

Team Project Part 3: Research and Strategy

In the third part, it was an analysis of the competitors and the industry which then led to strategic recommendations. First, we researched on: the industry that the company is competing in, industry trends, and two major competitors. Second, we critiqued the marketing strategy of each competitor including business models, strategic competitive advantage, and target segment. And last, based upon our critique, we developed marketing strategy recommendations.

Team Project Part 4: Marketing Plan and Implementation

In the last part, we first start out by developing the business website. Based on the strategy from the Researchers/Strategists, we implemented our design objectives, using WordPress, in terms of the structure, content, and flow of the website. We ensured that the design was consistent with the target and the positioning and SEM Strategies. Second, all communications, such as website and keywords, must be integrated and unified. Our goal was to drive customers to the site by completing the following tasks: (1) based on the target and positioning strategy, develop and ad theme that will run through the entire campaign and (2) based on the target and positioning strategy, develop a media plan to drive consumers to the site. In addition, we demonstrated how our plan would fit into the budget and discussed what measures should be collected to test the effectiveness of each initiative. Third, we constructed the process for filling orders and keeping customers happy by completing the following tasks for each product that we were selling: (1) describe the logistics process, (2) list a final cost for each of our products, indicating our profit, and (3) develop a brief customer service plan based on customer service concepts.

Description of the Product

As a new company entering the consumer electronics (CE) accessories industry, EMpowering Electronics is starting out by selling unique products like the EMpowering Disc and the EMpowering Cases for Apple and Samsung smartphones. The EMpowering Disc is integrated with both the functions of a power strip and a portable external battery with added perks such as a length-adjustable cord that stretches three feet, a spare safety fuse, dual USB ports, and five US AC sockets, and a removable 3500mAh battery charger in the center of the product. The diameter of its circular shape is 3.2 centimeters and the diameter of the external battery is 1.6 centimeters. It has a thickness of 2.9 centimeters and weighs 8 ounces. In addition, it comes in two colors, black or white. In addition, the EMpowering Cases are battery cases specifically for Apple and Samsung smartphones with 2000mAh. For Apple smartphones, EMpowering carries battery cases for the following iPhones: 5, 5S, SE, 6S, 6S Plus, 7, and 7 Plus. As for Samsung, EMpowering Cases apply to the following smartphones: Galaxy S6, Galaxy S7, and Galaxy S7 Edge. Furthermore, for both Apple and Samsung EMpowering Cases, they will come in two colors, black or white.

Findings and Recommendations

Business Models

For our business model, we are using e-commerce as our target audience revolves around the use of the internet. We want to use this business model to allow our customers to have the freedom to compare products with ours in a “sales-free” environment. As an e-commerce business model, we would have the advantages of a diverse and growing inventory, low startup costs, and minimal overhead. However, we will need to market our brand extremely well for our target audience to know that we exist. Therefore, initiating SEO, pay per click advertising, and affiliate marketing to promote our e-commerce will be required. In addition, when our target audience visits our company site, they will have the opportunity to see the unique products that we currently offer and what our goal is for future products. Therefore, customers will see that we are a company that plans on growing our brand one unique product at a time.

As an alternate business model, we can offer our products as a brick-and-mortar to allow customers to physically see, feel, and compare our product. As a new brand, it would be more reasonable to have our products starting out with a kiosk in major malls. This could be a beneficial option for us because with a knowledgeable sales staff we can beat our e-commerce competitors on convenience. Therefore, having a physical location for our target audience will provide a sense of legitimacy of our business, allowing customers to trust a brand that they can walk up to. On the other hand, startup costs are much higher compared to an e-commerce business model, so starting out with a kiosk is an alternative for lower cost to test the market.

Segment of Consumers

Our target audience are specifically tech-savvy users of any age who actively uses one or more electronics on a daily bases. Such users would include students, business men and women, or frequent travelers within the United States who need unique and convenient CE accessories.

Personal Reflection and Contribution

My responsibilities for this project included being a Business Manager and Research/Strategist. As a Business Manager, I coordinated and set up the business. Tasks included assigning different roles to teammates and oversee work, choosing a domain name, and deciding on allocation of funds. Skills required to be a Business Manager were management, leadership, and writing. As a Researcher/Strategist, I researched the industry, competitors, and company to develop marketing strategy recommendations. Tasks included conducting quantitative and qualitative research, recommending a target market, recommending a positioning, and developing marketing mix recommendations. Skills required to be a Researcher/Strategist were to be a proficient researcher, great at piecing information together, drawing conclusions, and having an excellent grasp of marketing concepts.

Developing a Market Research Report

MKTG 379 – Marketing Research Methods | Professor: Dr. Yuna Kim

Description and Goals of Assignment

The learning objectives of this assignment were to enable students to apply research methodology to marketing management. This knowledge is essential no only to carry out marketing research, but also to critically evaluate marketing research projects. The ultimate goal was to develop an effective marketing strategy to sell our product based on our marketing research.

Methodology

Market research was conducted to understand what would help increase the likelihood of consumers purchasing our product, MOGICS Power Donut. MOGICS Power Donut is integrated with both the functions of a power strip and a travel adapter with added perks such as a length-adjustable cord, a spare safety fuse, dual USB ports supporting fast charge, a user-friendly designed AC plug, and its light and slim features that allows it to be simple enough to fit inside your pocket. Online surveys were sent to a specific target market, which were California State University, Fullerton business students. Furthermore, secondary research investigating and interpreting relevant academic research experiments was conducted to add to the collection of this primary data. Vital findings include that 80% of students were likely to purchase a MOGICS Power Donut.

Findings and Recommendations

Correlations

  • The design of the product has a higher relationship of about 55.1% with the likelihood of students purchasing this product
  • The number of mobile and/or portable devices that students own has about a 31.2% relationship
  • Price has about an 11.8% relationship with the likelihood of students purchasing this product

Descriptive Summary of Data

  • 80% of respondents were likely to purchase the product
  • 6% of respondents would purchase the product based on its innovative design that allows it to be travel-friendly for all charging needs
  • 4% of respondents agree that owning a variety of multiple mobile and/or portable devices would influence their purchase decision for the product
  • 9% of respondents were price sensitive when deciding to purchase the product

Analysis of Data

  • A correlation coefficient of 0.635 (63.5%) proved that the Model Summary had a moderately positive relationship with the dependent variable, independent variables, and demographic variables.
  • The correlation of determination, or R Square, showed that 40.4% of the total variation in the dependent variable can be explained by the relationship between the dependent variable and the independent and demographic variables
  • By taking the sample size of 85 into consideration, there is a 33.8% of the total variation in the dependent variable can be explained by the relationship between the dependent variable and the independent and demographic variables

Based on Analysis of Data

  • If price increases, then there will be a 0.1.62 increase in the likelihood to purchase.
  • If the number of mobile and/or portable devices that is owned increases, then there will be a 0.225 increase in the likelihood to purchase.
  • If the design improves, then there will be a 1.221 increase in the likelihood to purchase.

Recommendation

  • In order to increase the purchase of the MOGICS Power Donut, technological innovations for improving the design of the product can substantially build consumer purchase and loyalty.

Personal Reflection and Contribution

My responsibilities in this project involved working cooperatively and collaboratively with the other group members to insure that our research findings were presented in a clear, concise, and compelling manner in our individual marketing plans.

Raising Awareness for a Non-Profit Organization

Digital Marketing Project for Panorama Marketing Agency

About Panorama Marketing Agency

Panorama Marketing Agency is a digital marketing agency established in 2016 in association with the American Marketing Association (AMA) at California State University, Fullerton. At Panorama, we help small clients develop, support, and manage digital marketing efforts through immense creativity, research, and design. Steven’s Hope For Children (SHFC) was Panorama’s very first client.

About the Client

SHFC is a non-profit organization established in 2002 and based in Upland, CA. SHFC helps families of seriously ill or injured children by providing assistance to lessen the burden on the families. They offer three main programs:

  • Housing for Hope – provide housing for families within a 20-mile radius of the hospital
  • Fill a Need – provide food, clothing, transportation, prescriptions, and medical expenses
  • We Care – provide families with activities such as: Disneyland, sporting events, Thanksgiving meals, Christmas presents, etc.

Client’s Goals

  • Build the brand of SHFC
  • Raise awareness and promote #GivingTuesday
  • Run social media campaign for one month
  • Raise $3,500 by Giving Tuesday which equates to providing $100 to 35 families in need during the holiday season

Methodology

Market Research Department

We gathered data by utilizing MRI and other studies found online. We observed and examined the social media market strategy of 21 other non-profit charities similar to SHFC. We gathered data focusing on the content and style of the most popular and interactive posts. We compiled all of our data, then organized and analyzed them to provide a dashboard of the most useful information to our Strategy Department and Creative Department.

Market Strategy Department

We collaborated with the Creative Department to implement the visuals that they have created for SHFC’s social media platforms (Facebook, Instagram, and Twitter).

Creative Department

We collaborated with the Strategy Department to create content and matching visuals for SHFC’s social media platforms (Twitter, Instagram, and Facebook). The goal was to stay true to their vision while also adding a refined focus to their mission statement. By utilizing Canva, Adobe Spark, and Adobe Photoshop we created photo content to match the theme of that weeks’ posts. We layered the photo with text regarding the theme of the week such as “#GivingTuesday” and “Patient Spotlight”.

Findings and Recommendations

  • 4% of high net worth households give to charity
  • 63% of donors cite “giving back to the community” as a chief motivation for giving
  • 80% of donations comes from individuals and 20% from corporations
  • Online giving grew 13.5% within the last year (2015)
  • Of the 21 sampled charities, we found that the top five consistent qualities of the most interactive posts include:
    • Effective communication of the experiences and impact between charity, donor, and recipients
    • Posts about real people, real situations, and real life (telling a story)
    • Current and relevant news that pertain to the certain charity
    • Informative posts on how to get involved
    • Posts that aim to provoke an emotion
  • Average of 1.4 posts per day on Instagram and 3.5 posts per day on Facebook
  • Majority of posts have an overall emphasis towards positivity

Final Results

  • Total donation immediately following #GivingTuesday = $8,700 + an additional $2,500 donation prior to the actual day
  • Improved results for Steven’s Hope by over 8600%, excluding the pre-donation
  • Increased awareness and interaction over social media

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