BUS 470 Assignment 2 Marketing of the Acquisition

16 Oct No Comments

Marketing of the Acquisition by EDUSTim CharityJanuary 4, 2017Dr. D. ShearerBUS 470 M4 A2

MARKETING OF THE ACQUISITION BY EDUSPROMOTIONAL GOALS:It is the responsibility of the Marketing Manager to determine the direction of the marketing plan in the areas of education, persuasion or reminders. The Marketing Manager creates the marketing plan, which starts with the marketing mix. The marketing mix encompasses the product, place, promotion and price. EDUS spends nearly two-thirds of its marketing budget on promotional planning.

EDUCATION  When new products are introduced to the market and consumers, it is wise the educate them on the features and benefits of the product. This type of marketing plan is designed to educate consumers.

PERSUASION When competition is at its highest, it means that consumers are faced with making a choice in regards to products. This form of marketing focuses on getting the consumer to take action and buy the product. This particular form of marketing can be used for an established product or a new product.

REMINDERS  It is well known that some companies have established product lines, however, they still need to stay connected to loyal consumers who buy specific products. This strategy is the reminder marketing plan.

BUSINESS ENVIRONMENTDuring the acquisition of Mekong Cham University, EDUS will be faced with a variety of internal and external factors. These factors will give an indication of what is the best mode of operation for EDUS. A few of the factors of concern would be suppliers, technology, laws and government activities, and market and economic trends.

MEDIA PLANThe media plan will decide the most appropriate method to get its message out to the selected audience. Considering the world re-known technologist at Mekong Cham University, the media plan will identify the process in which to achieve its goal.

PROMOTIONAL STRATEGYThe promotional plan is designed to bring awareness to the product, help raise sales or brand, generating sales and create customer loyalty. In this case, the technological advances at Mekong Cham University.

ECONOMIC, CULTURAL AND POLITICAL-LEGAL ENVIRONMENTWhen dealing with the economic, cultural, and political environment, certain aspects the political, social, economic and cultural factors will pay a major role in the acquisition of Mekong Cham University.

ECONOMIC, CULTURAL AND POLITICAL-LEGAL ENVIRONMENTA few of those factors are:• Historical events, including wars, ideology, alliances, nationalism and reforms.• Government stability, legitimacy, adequacy of representation, dominant ideology. • Public goods and institutions.• Government policies on informational fields social, technology, economic. 

RECOMMENDED ACTIONS To ensure that the acquisition of Mekong Cham University has closure on the mandated date, all departments involved with the acquisition must be responsible and hold themselves accountable. The recommended actions are:Ledger ReconciliationFull Accounting Units

CONCLUSIONSFor the acquisition of Mekong Cham University by EDUS to be successful, the marketing plan must address the main three focal points of education, persuasion, reminders. By doing this, Mekong Cham University will receive more exposure, which will generate a revenue in the form of grants and donations. Although the acquisition is an educational institution, it is still a product. I believe the plan I have described will be a success.

References Argosy University Online Libraryhttp://www.businessdictionary.com/definition/business-environment.html  




Click following link to download this document

BUS 470 Assignment 2 Marketing of the Acquisition.pptx

Would you like your assignment done free from plagiarism by an expert? Place your order now and it shall be done within the timeframe you indicate.

To view and download a complete answer, scroll down to the bottom to pay Pay to view