Assignment task:
You are a marketing specialist reporting directly to the Director of Marketing. One of your top competitors has recently begun stealing market share from your brand. Unless your team comes up with a successful defensive marketing plan, this competitor will overtake your brand's market position within six months.
The two companies are Figs Scrubs and Cherokee Scrubs.
For this assignment, you will develop a marketing plan to effectively address the competitive threat. You will choose a real-life company and product, as well as a competitive company and product, to use in the course project assignments.
Compose a business report to be shared with your manager that addresses the following:
Section 1: Propose marketing budget, IMC tactics (integrated marketing communication), and estimate ROMI (with rationale).
Section 2: Create a list of IMC tactics, and discuss how your proposed IMC tactics could be evaluated on an ongoing basis.
Section 3: Create a sample marketing dashboard for your brand to track KPIs and key metrics.