This part of the Conscious Capitalism simulation assignment is individual. You will work to determine an appropriate digital marketing plan to include in your “Benchmark – Digital Business Plan” assignment. â€œThe simulation Assignment is the development of a new recreational bicycle store to be marketed in the city of Rio De Janeiroâ€.
In Topic 5, your team will develop a marketing plan to support your marketing division and justify an additional capital investment from corporate headquarters to move forward. Digital marketing is a critical part of marketing strategies today because of the prevalence of social media and other web-based technologies, online media outlets, and mobile Internet and applications.
Based on the current position of your new division in the simulation and your goals for coming quarters, analyze market consumer data, competitive data, and real-world digital marketing options to develop a summarized digital marketing plan for your division that benefits growth and considers competition. In 500-750 words, address the following:
- Digital marketing strategies for your division: Discuss the decision to shift all or a portion of your division’s promotional budget in the simulation to digital marketing. Discuss the digital marketing strategies that will be used to promote organizational growth. Consider factors including B2B verses B2C considerations in digital media, target market coverage, exposure, analytics, and costs.
- Digital media impact: How would the addition of digital media options influence your division’s overall promotional plan? Consider the five elements of the promotion mix.
- Digital media types and options: Include examples of specific social media platforms, blogs, websites, applications, etc., and a justification for each based on your division’s goals. Use real-world data by researching the outlets/platforms, reviewing media kits when available, and citing available sources on exposure, targeting options, and other factors.
- Digital marketing ties to relationship marketing: Explain how your digital marketing strategy will improve relationship marketing efforts and increase revenue.
- Monitor digital media: How will you monitor effectiveness and adjust your strategy based on your division’s goals? What tools would you recommend to measure the effectiveness of reaching these goals?
You are required to include both academic and professional references (e.g., data on analytics, platform use data) to justify your plan.
Submit your individual report in the digital classroom, and then post your report to your CLC group forum for your group to review. Review the reports of the rest of your team and, as a group, discuss your individual plans to create the final digital marketing section to be included in your group’s Final Report due in Topic 8.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center.