marketing action plan and cost benefit analysis

GRADING RUBRIC MUST BE FOLLOWED

Questions to Consider:

  • What are examples of market segments for prospective labor and delivery consumers (for example, demographic attributes, payer source, and so forth)?
  • Which type of communication channels are most likely to reach potential consumers (website, social media, radio, TV, signage, health fairs and events, collaborative partnership JV ads, targeted mail out, free educational offerings, and so forth)?
    • What is a marketing intervention?
  • What are examples of line items and costs associated with marketing interventions?
  • How do you determine monetary value of a marketing intervention?
  • What are examples of potential non-monetary benefits of a marketing intervention?

Scenario

St. Anthony Medical Center’s labor and delivery service line is challenged with growing the business using a market pull strategy. To achieve this overarching goal, you will propose a marketing action plan with accompanying proposed costs and benefits. Additionally, your plan will need to include costs and benefits for each proposed intervention.

Your task as the intern is to analyze the financial impact to the organization and make a final recommendation as to whether the plan should be implemented. You are expected to provide options for the management team to consider along with a rationale for your final recommendation. At least one of your options must include how to use social media to decrease costs and increase market reach.

Deliverable

Complete the following:

  • Formulate a new St. Anthony Medical Center labor and delivery revised service offering, including features, advantages, and benefits to consumers.
  • Segment the market of targeted labor and delivery consumers, using a table that matches features and benefits to each consumer segment.
    • Note: Consumer data will be found on the Internet related to the Minneapolis greater metro area (for example, age, culture, and so forth; expectant single teens, culturally diverse groups in the community, mid-career married working women, same sex partners seeking in vitro fertilization, and so forth).
  • Create a plan of action that comprises marketing communication channels to reach each customer segment (for example, websites, social media, radio, TV, signage, health fairs, events, collaborative partnerships, targeted mailings, free educational offerings, and so forth).
  • Explain costs and benefits for each marketing communication channel intervention. (Refer to Plowman’s cost-benefit analysis tool, linked in Resources.)
    • Hint: Remember to identify costs and benefits; Recall that the total cost of the action plan cannot exceed 10,000 dollars per year.
  • Make a recommendation as to whether the organization should proceed with the proposed interventions.
  • Provide rationale that supports your decision process.

Resources:

Balanced Scorecard
Balanced Scorecard Basics

Review the following:

Performance Indicators and Performance Measurement

Review the following:

Organizational Strategy

Review the following:

Social Media and Social Marketing

Review the social media and social marketing resources from the Assessment 1 Resources.

Marketing Communication Channels

This article studies the perceived effectiveness of communication channels to establish whether some channels are better than others of achieving engagement and persuasion:

Review the following:

Strategic Planning

Review the following:

Marketing Action Plans

Review the following:

Cost-Benefit Analysis

Review the following:

  • Plowman, N. (2014). Writing a cost benefit analysis. Retrieved from http://www.brighthubpm.com/project-planning/58181-…
  • Kotler, P., & Armstrong, G. (2016). Principles of marketing (16th ed.). Upper Saddle River, NJ: Prentice Hall. Available from the bookstore.
    • Chapter 1, “Marketing: Creating Customer Value and Engagement,” pages 26–61.
    • Chapter 2, “Company and Marketing Strategy Partnering to Build Customer Engagement, Value, and Relationships,” pages 62–91.
    • Chapter 3, “Analyzing the Marketing Environment,” pages 92–127.
    • Chapter 8, “Products, Services, and Brands Building Customer Value,” pages 254–291.
    • Chapter 14, “Engaging Customers and Communicating Customer Value Integrated Marketing Communications Strategy,” pages 444–471.
    • Chapter 16, “Personal Selling and Sales Promotion,” pages 500–531.
    • Appendix 1, “Marketing Plan,” page 631.

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