Recommend Effective Control Mechanisms to Measure and Monitor the Implemented Marketing Strategy
Strategic Marketing
Coursework:
Assignment task
Working in the same groups as for PR1, create a 2500-word report utilizing the SOSTAC planning framework to detail all required elements of the strategic marketing plan in response to Hunters Boots case.
Hunters Boots An article that appeared in the June edition of the Financial Times (Financial Times, 2023) stated that "Hunters boots` new owner was looking to take the upmarket Wellington brand global as it seeks to capitalize on a new love affair with Britain across the US and Asia. Nick Woodhouse, president of Authentic Brands, said the quintessentially British bootmaker had not had its story told by its previous owners..." This statement was made "...after Hunters` collapse into administration...with insolvency practitioners blaming COVID-19, reduced demand, and supply chain problems."
Woodhouse went on to say that "It`s amazing to think this is a brand that a king will wear and the person who mucks out the king`s stables will also wear" and "there is room for a terrific sportswear, accessories, bags, and luggage collection with the name Hunter." Woodhouse further mentioned that the new owners "...would not repeat the mistakes of the previous owners, which included overly focusing on the luxury sector and neglecting practical buyers."
Task: Formulate a full strategic marketing plan for Hunters Boots in the United Kingdom in response to the above scenario.
CW1 builds on the in-depth audit delivered in PR1.
The outcome of the audit will inform a full strategic marketing plan detailed in a group report as follows: · A strategic audit of where the organization is now, using relevant models and frameworks to audit the current situation. · Identification of the organization`s key strategic marketing objectives. · A review of strategic options to achieve goals. · Strategy implementation. · Monitor and control mechanisms.
A group log detailing individual contribution must be maintained and handed in with the final report. You should include as a minimum:
Identification of the organization`s key strategic marketing objectives for the campaign, which are SMART in approach.
Campaign strategy - How your market research led to your recommendations The reason for the campaign and/or strategic goal of the campaign Market growth opportunity/Ansoff`s matrix. Target audience General campaign messaging
Strategy implementation (Tactics) covering key areas of the marketing and the communications mix. A need to demonstrate knowledge of the RACE model as a framework for digital campaign planning and its relevance to your campaign plan specifically
Marketing roll-out plan (a GANTT chart is preferred) Channels to be used When/timing Text/copy to be used (if relevant) Budget - document all budget assumptions Key Performance Indicators (KPIs)/Metrics Recommendations on how the organization could continue to engage with their audience in an always-on digital environment
Learning outcome 3: Develop a strategic marketing plan to realize organizational objectives.
Learning outcome 4: Recommend effective control mechanisms to measure and monitor the implemented marketing strategy.
