MBA FPX 5012 Assessment 3 Digital Marketing Plan

MBA FPX 5012 Assessment 3 Digital Marketing Plan

Student Name

Capella University

MBA-FPX5012 Marketing Management

Prof. Name:

Date

Executive Summary

MSH Brands, established in 1991, specializes in creating nutrient-rich, fresh dog food. Collaborating with veterinarians, the company developed its products using fresh ingredients like beef, pumpkin, carrots, and peas. Initially funded through fundraising efforts, MSH Brands expanded its offerings to include a broader range of proteins, vegetables, and vitamins. As a relatively new player in the larger pet food industry, MSH Brands needs to assess its current market position and develop a strategic marketing plan using the SOSTAC model.

SOSTAC

To effectively market its products, MSH Brands needs to utilize a unique approach to digital marketing, different from conventional methods. In the 1990s, PR Smith introduced the SOSTAC model to help businesses design and execute digital marketing plans aimed at business growth. SOSTAC stands for Situation, Objectives, Strategy, Tactics, Actions, and Control, providing a structured process for creating a marketing plan that ensures all relevant factors are considered (Stephenson, 2023). Each step of the model interconnects, creating a comprehensive strategy.

Situational Analysis

The initial step in the SOSTAC model involves conducting a situational analysis to understand the company’s current position. A SWOT analysis (see Figure 1) is an effective tool for answering the question, “Where are we now?” It examines internal strengths and weaknesses, as well as external opportunities and threats. MSH Brands’ strengths include strong customer trust, emotional advertising, and the use of all-natural ingredients—an uncommon practice in the pet food industry. Weaknesses include higher product prices compared to competitors and the fact that sales are limited to online platforms. Opportunities arise from an increasing focus on health, a growing number of pet owners, and regulatory changes promoting natural ingredients. However, the company faces significant threats, including high competition, rising distribution costs, and workforce shortages.

After establishing a SWOT analysis, the company should assess its customers, competitors, and current market trends to understand how these elements impact its business.

Figure 1: SWOT Analysis

Customers

MSH Brands primarily targets millennials aged 22-35, who value health and an active lifestyle for themselves and their pets. This generation is increasingly concerned about the quality of products their pets consume, shopping at premium retailers like Costco, Trader Joe’s, and Whole Foods. The convenience of online shopping, combined with options for store pickup, appeals to both younger and older consumers, facilitating high sales. Providing availability at pet stores, grocery stores, and veterinarian offices is crucial for expanding brand awareness and accessibility.

Intermediaries

The pet food industry is highly competitive, necessitating innovative marketing strategies. MSH Brands partners with local pet stores like PetSmart, Petco, and Chuck & Don’s; large grocery chains like Walmart and Target; and online retailers like Amazon, Chewy.com, and the company’s website. Engaging customers early through product samples and discount codes is essential to building relationships with these intermediaries.

Competencies

When assessing market segments, MSH Brands considers the segment’s attractiveness and alignment with company objectives (Kotler & Keller, 2016). The company leverages its competitive edge by offering certified organic, nutrient-dense products made from fresh ingredients, setting it apart in the pet food market.

Objectives

The second SOSTAC step involves setting clear objectives using the SMART framework (Specific, Measurable, Attainable, Relevant, Time-bound) (Cowley, 2016). Key objectives include expanding social media presence to reach more pet-focused audiences, becoming the market leader in healthy pet food, and reducing marketing costs with more targeted strategies. Success metrics include increased social media engagement, website traffic, and revenue growth.

Figure 2: SMART Goals

Strategy

MSH Brands’ strategic plan encompasses short-, medium-, and long-term goals. Short-term objectives focus on product launches and increasing sales through customer engagement. Medium-term goals emphasize product development and digital marketing expansion. Long-term strategies include making products available in various retail outlets and consistently introducing new products to maintain customer interest.

Tactics

Tactical actions involve executing the marketing plan, such as using social media for promotions, participating in pet events, and offering incentives for customer reviews. MSH Brands will allocate 25% of its budget to online advertisements and explore advertising space in popular pet-related locations.

Actions

To implement tactics, MSH Brands will focus on promoting discount codes through social media and engaging with the top pet stores for advertising opportunities. Additional actions include enhancing the user experience on the website through click ads that direct customers to product pages, thereby increasing traffic and sales.

Controls

The final step, controls, involves monitoring the effectiveness of the marketing strategies. Key performance indicators include website clicks, sales data, and customer feedback. By tracking these metrics, MSH Brands can adjust strategies to improve product reach and customer satisfaction. Regular evaluation of staffing needs will also ensure that the company can meet increasing demand.

References

Chaffey, D. (2022, October 11). SOSTAC® Marketing Plan Model Definition – what is? – digital marketing glossary. Dr Dave Chaffey: Digital Insights. Link

Cowley, M. B. (2016). ‘Jellies & Jaffas’: Applying PR Smith’s SOSTAC® Marketing Model to an Online Confectionary Start-Up.

Kotler, P. T., & Keller, K. L. (2016). Framework for marketing management (6th ed.). Boston, MA: Pearson.

Schieltz, M. (n.d.). How will a situational analysis help create the SWOT analysis? Retrieved from Small Business Chron.

MBA FPX 5012 Assessment 3 Digital Marketing Plan

Stephenson, R. (2023, May 17). How to write a digital marketing plan using PR Smith’s SOSTAC® Planning Model? Digital Dimensions For You. Link