Sample Marketing Paper on Marketing Plan for Cross Media

MARKETING PLAN FOR CROSS MEDIA

1 Executive Summary

Cross Media is a small graphic design business operating in Glen Burnie, Maryland owned and operated by Karen Cruz. This business has two full-time graphic specialists and one full-time personnel administrative specialist that provide service in Anne Arundel County, Maryland. The graphic shop has been in business for two years and has plans to increase production by moving to a new building and getting updated technology. Cross Media sells and produces custom-made posters, invitations, logos, business cards, and vinyl signs. Cross Media has high demand all year-round, however, Cross Media faces new challenges with the increase of freelancers.

Customers are pleased with the service that Cross Media provides. There are many competitors in the area. However, they do not have the equipment to provide physical products quickly. This plan focuses on evaluating the strengths, weaknesses, and growth objectives for the next two years. This plan suggests ways that this business can build on existing customer relationships and the development of new products and services.

The specific objectives for this marketing plan are:

  • Increasing the number of customers by 30%.
    • Most of this new growth will come from reaching out other counties in the area.

Cross Media will use various marketing tactics to increase business operations. Marketing strategy will be to increase the number of customers.

 

2 Situation Analysis

This marketing plan begins with an analysis on the market Cross Media faces. It starts with an assessment of the company, customers, competitors, and external market environments. This will be summarized with a strengths, weaknesses, opportunities, and threats (S.W.O.T.) analysis.

 

2.1 Company Analysis

Cross Media (CM) is located in the city of Glen Burnie, Maryland. Glen Burnie is a census-designated place in Arundel County, Maryland, with the population of around 67,639. It is located 13.2 miles away from the city of Baltimore, with a population of 611,648 and Washington, District of Columbia, is also located 35 miles away.

Cross Media has been in operation for two years, opened by Karen Cruz after she earned her Master’s in Graphics Art.

Customer market analysis:

Cross Media reflects upon the existing customer base in Glen Burnie, Marlyland in order to determine the nature of service based on existing competition in the graphic design industry. First, the business needs a selling point that would ensure the specific needs of its customers are addressed. As a start up, availability of two full time graphic specialists, with one full time personnel administrative to manage the customer affairs by providing consistent services in Anne Arundel County, Maryland, and the other on part time basis, maximum attention is provided to the customers (“92 Strategies for Marketing Planned Gifts,” 2013). The current customer base shows that there is need to provide constant customer service in order to increase the customer experience in the region. Customers in this case would prioritize a graphic business that offers maximum attention and addresses their specific need as this has been termed as one of the basic shortcomings in the current graphic design market.

The current market has indicated some shortcomings in terms of the nature of designs that exist. The component of taste and unique graphic design has not been well exploited and for that reason, this comes as an area that Cross media can take up an advantage and access a number of customers. The company intends to make use of this aspect as a marketing tool that will increase the retention rates to the maximum level possible. Graphic designs in this case would employ a series of attractive brands ranging from the theme that will be employed, the texture components, the silk ability of the features used, the tone of color, the visibility, and attention that grabs the public for the purpose of outstanding many other business organizations in the industry.

Competitive market analysis:

There is a great need for Cross Media organization to employ strategic moves that will ensure gaining a related competitive advantage and sustaining it for the longest time possible in order to attain the targets and goals of the entity. This would only be achieved by conducting a detailed competitive market analysis of the current graphic industry in Glen Burnie, Marlyland. First, detailed research would be done in determining the number of graphic stores that are in the region. This would offer basis with which the organization can determine the amount of competition they expect. Cross Media must also perform detailed analysis to determine how this organizations rank based on a number of factors. Uniqueness of a brand would be a top factor in ranking the graphic entities. From customer feedback, it would be necessary to determine they say about each graphic brand in terms of unique designs that are produced (“92 Strategies for Marketing Planned Gifts,” 2013). It would also be necessary to determine how the various brands rank in terms of income generation. Based on the amount of sales, Cross Media would easily determine the amount of efforts they have to set in order to induce competition and attract the required customers.

Once all the concepts regarding the number of brands that exist in Glen Burnie, Marlyland, and their ranking in terms of brand uniqueness and income generation ability, it would be necessary for Cross Media to initiate strategic moves that will gain and sustain a related competitive advantage. The basic concept at this point is to perform research on all the current graphic designs that are offered to the consumer and from it, trace the missing links that customers have not been provided with. The design that would be generated by Cross Media should be entirely based on what has not actually been provided to the customer. By this, they would easily gain an advantage. Sustainability of this advantage is also a factor to consider. In this case, Cross Media must take not of innovation techniques on their graphics to constantly come up with new solutions that will impress the customer on a constant basis.

External market environment:

The external market environment of Cross Media would be influential in shaping its main business functions. First, the company would highlight all the factors that would work to promote its income ability for the purpose of sustainability (Dr. B. B. Bhosale, 2011). The first major concern is the supply chain system that is attached to the main business activities. All the suppliers form part of the external business environment that would impact the functionality of the business. In this case, Cross Market will identify suppliers of their main services and products across Maryland that would offer them the best prices possible in order to allow easier pricing for their consumers.

The external market environment for Cross Media graphics business would be classified based on social, demographic, economic, technological, political and competitive variables surrounding the business.

Social

The social context that surrounds the environment will be valuable in determining the consumer trends, their culture, their desires, and what they like. In this case, design products would be generated based on such trends in order to increase retention rates and attract more customers.

Demographic

Specific demographics of the consumer must be defined in order to tell who is being served what. In this case, Cross media will identify specific demographics of their customers ranging from small children, teenagers, the youth, and adults. Each of these demographics has a unique taste of the product that they would desire, an issue that would impact the production process.

Economic

There are various economic concerns that would impact the functionality of the business. In this case, the taxation demands of Maryland State and the US would define the amount of income generated in the business.

Technological

Cross Media would work around the clock to adopt new forms of technology that would provide and automate graphic designs that conform to the customer desires (Faisal, 2016). Some of such technologies that would be employed include brain computer interfaces, chat bots or chat robots for enhanced customer service, 3D printing, Block chain, and many others.

Political

Detailed review of political factors that would impact the function of the business will be explored (Faisal, 2016). Based on the current statistics, the political climate of the US offers a serine environment for Cross Media to execute their main business functions without any disruptions.  

SWOT analysis:

Detailed SWOT analysis of the Cross Media brand would highlight the major strengths, weaknesses, opportunities, and threats that the entity displays as it operates in the graphic design market.

Strengths

The strengths of Cross Media entity are based on its ability to identify gaps within customer needs and address them. The research in this case has offered an opportunity to come up with unique graphic design products that would attract customers at a higher rate as well as retain them at the highest percentage possible compared to its competitors.

Weaknesses

Brand recognition has not been well established in Maryland for the Cross Media entity. In this case, there is more to be done when it comes to investing in promoting their brand in different parts of the state and the country as well.

Opportunities

Increasing the number of stores would form the best opportunity for the Cross Media organization. This is one way in which their brand can be promoted and brought close to the customer in order to keep it alive.

Threats

Due to increased number of graphic design businesses, Cross Media is bound to encounter a lot of competition in the industry (Free & Qu, 2011). While gaining a competitive base due to their unique product is a possibility, they must find ways in which they can sustain this competition through innovation, as new entrants would always come with new products to impress the consumer.

Marketing strategy:

Social media

A number of marketing strategies will be employed to sell the unique brand of Cross Media across its consumers. First, the use of social media would be employed as one of the greatest tools of marketing for the company. Social media sites such as Facebook and Twitter would be used by the organization through creation of social media pages (“Competition and Internal Marketing Analysis,” 2012). The pages would be used to supply information of products and services that are being offered, and any other necessary updates of the brand that are connected to its consumers. The social media pages created would also be used as an interactive interface or platform with the customer and a form of customer service in order to address their basic needs.

Promotion

Promotion would be conducted through a number of activities. The company would advertise their brand through visuals such as the internet ads and television for viewers to identify their presence. Other related techniques that would be employed is providing offers on new graphic design products and creation of the customer loyalty card (Hansen, 2015). This would offer customers the ability to accrue reward points that are redeemable at certain levels.

Segmentation

This unique marketing strategy will be employed by Cross Media through division of its customer base into specific groups referred to as market segments. The sole purpose for this process is to ensure that specific needs of each market segment are analyzed and addressed, for the sake of increasing customer experience and retention.

Target Market:

The specific market segments in this case would highlight the targeted market for the Cross Media organization. This would range from business organizations and personal customers hat have an interest in graphic design products (“Marketing and Shareholder Value,” 2015). Cross Media would specialize in making a number of products including burners and labels for business organizations that already exist, business cards for individuals and businesses, artwork for both corporate and personal use, and many others. The basic concept is to bring a number of customers on board and classify them based on what they desire.

Product:

The first class of products that would be designed by the Cross Media organization would be based on the concept of visual identity. Under this class, the various products that will be adopted include business cards for individuals, letterheads with company logos, logos for companies, burners, and pain works for both homes and businesses.

The second class of products that would be generated by Cross Media is marketing materials. Under this class, the business intends to capture a number of products such as brochures, postcards, posters, and flyers (Rezaei, Chandran, & Oh, 2017). Other products that are ranked under this classification include books, catalogues, and magazines.

The third and final class of products adopted by the business will include presentations for customers in various categories, product packaging for businesses, creation of annual parties for both private and business customers, illustrations, and T-shirt printing and design.

Place:

Cross Media is a graphic design shop that is located in Glen Burnie, Marlyland. The selection of this location is based on a number of factors that were determined. First, Maryland is an active state that is able to support business activities of this nature (Tasso, 2017). In this case, the state is composed of a high number of middle class citizens who are the main target market for the business. The customer base in this case was attractive enough for the sake of sustaining the business and its main functions.

Site location was also influenced by the concept of visibility towards its consumers. The location of a business entity is quite influential especially when it comes to a customer being able to view it clearly and access it as well. In this case, the choice of site was influenced by visibility and accessibility factors. The business is located in a place that has high traffic of other businesses and people and for that reason; there is ready market to sustain its functionality.

The choice of Maryland State was influenced by legal concerns and regulations. In this state, there are friendly laws and regulations that can support and sustain the intentions of a business when it comes to profit generation. Detailed analysis for this reason indicated that based on taxation and other revenue related concerned, it would be easy to put up a graphic design shop that would generate income that is reasonable enough to foster growth.

Promotion:

As indicated earlier, a number of promotional strategies would be employed to ensure that the brand is alive in all areas of the country. Social media will be used as a great tool of consideration when it comes to promoting the business activities. Facebook and Twitter pages will be created for the sake of offering faster customer service and engaging the customers on new products that emerge into the market.

In order to promote sales, the company would employ a unique strategy that looks upon the amount of print outs an individual desires. In this case, they would offer reduced prices on the highest amount of products that are designed and printed for the customer. This technique would encourage customers to go for the highest number of printings, which on the other hand would work not only to retain the customers, but to increase the overall sales of the company as well.

Pricing:

Pricing is an important element in sustaining the business in the graphic design industry. The company will employ the economies of scale strategy in order to formulate prices on each of their product. The economies of scale will work by coming up with detailed report on current prices on products in the market. The report would also focus on the current quality of products that are offered by other design shops in the market. After this has been done, Cross Media will work to ensure that the quality of their products is the best with slightly lower prices. In this case, most customers would prefer going for products that are affordable and of low prices.

As a way of increasing sales, customers would be offered an opportunity of printing more products. In this case, packages would vary based on the number of printouts that are made by a customer. This aspect will work to encourage customers to make a lot of print outs for lower prices, an issue that will work to increase the sales of the company and induce faster growth.

Price skimming will play an important role in shaping the prices of each product. In this case, prices will be set to match the value of the product or service that is being offered. For instance, the price of printing a book may not be the same as the price for making a logo or designing a business card. The business will come up with a clear handbook that breaks down a list of all the prices that are involved for a customer to understand what they are paying for.  The basic concept at this point for Cross Media is to ensure that a customer gets value for their money. The entities will work to ensure that there are minimal complains that will be generated and if any arises, they would be addressed instantly.

Implementation and Control:

This is the most crucial part of the plan and highlights how activities will be executed to set the actual action into place. First, it would be necessary to determine all the stakeholders who will be involved in the business functions. This will involve the workers that will be in place, the suppliers, the government agencies that have to be involved, and all the components of the supply chain management. A management team will be designed to offer executive roles and ensure that all the business functions are flowing in the right direction (“Value Propositions and Marketing Objectives,” 2012). The executive team in this case would be expected to offer constant reports to other stakeholders on the ground to ensure that all the necessary payments have been made and supplies delivered with relevant documentations such as invoices.

It would be necessary to come up with a network enterprise infrastructure that will support all the online activities of the business. With the current world of technology, Cross Media organization cannot afford operating without a network enterprise that is well configured to manage the business activities. Therefore, a good network expert will be brought on board to make the configuration and relevant tests done to ensure that it is fully functional before being made live.

A work breakdown structure (WBS) would be a best control technique to track down all the activities that are taking place at every second. The structure would highlight all the tasks that are involved in formulation of the business. It would also offer time allocation to each task and the estimated budget with which they are to be completed. With a clear WBS system, it would be easy for the business owner to monitor all events that take place. They would easily make a quick decision in cases there is a change that needs immediate attention.

 

References

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Dr. B. B. Bhosale, D. B. (2011). Promotional Strategies for International Markets with respect to Agricultural Products. Indian Journal of Applied Research1(7), 29-30. doi:10.15373/2249555x/apr2012/9

Faisal, A. (2016). Marketing Strategies in Online/Digital Marketing. Account and Financial Management Journal. doi:10.18535/afmj/v1i8.01

Free, C., & Qu, S. Q. (2011). The use of graphics in promoting management ideas. Journal of Accounting & Organizational Change7(2), 158-189. doi:10.1108/18325911111139680

Hansen, M. R. (2015). Graphlog: Creating Log Files with Embedded Graphics. The Stata Journal: Promoting communications on statistics and Stata15(2), 594-596. doi:10.1177/1536867×1501500217

Marketing and Shareholder Value. (2015). Value-Based Marketing, 1-35. doi:10.1002/9781119207177.ch1

Rezaei, S., Chandran, R., & Oh, Y. M. (2017). Pre-Purchase User Perceptions of Attributes and Post-Purchase Attitudes in Building Successful Online Retail Promotional Strategies. Advances in Marketing, Customer Relationship Management, and E-Services, 164-183. doi:10.4018/978-1-5225-2206-5.ch008

Tasso, K. (2017). Tractical marketing (promotional strategies). Growing Your Property Partnership, 151-210. doi:10.4324/9781315040820-5

Value Propositions and Marketing Objectives. (2012). Successful Marketing Strategies for Nonprofit Organizations, 147-166. doi:10.1002/9781118386736.ch7