PM FPX 5018 Assessments 3 Marketing Campaign Strategy

PM FPX 5018 Assessments 3 Marketing Campaign Strategy

Student Name

Capella University

PM-FPX4080 Agile Project Management

Prof. Name:

Date

Project Charter (Assessment 1)

• Project Title
• Cosmo Marketing Campaign Strategy Update
• Project Start Date
• March 1, 2021
• Projected Finish Date
• May 31, 2021 (Ten Weeks)

Budget Information

$150,000

Project Manager

Jeanne Lewis

Business Need

New technology trends being implemented by competitors could negatively impact future earnings and must be mitigated. These technologies include:

• Internet of Things (IoT)
• Digital services
• Data analytics
• The mobile technology movement

Project Objectives

Based on data analytics, Cosmo, Inc. will develop a new marketing strategy that incorporates the implementation of the aforementioned technology trends.

Approach

A task force will be initiated to review Cosmo, Inc. and its competitors’ data analytic reports and recommend a new strategy that addresses the impact of the new technology trends.

Assumptions:

• The marketing campaign strategy should increase the production of wearable technology by 25 percent.
• The campaign will increase the customer base by 20 percent by identifying unknown customer segments based on age, demographics, income, education, and technology.
• The strategy will develop and implement a new process within the Customer Service department to establish support services for new products.
• Performance reports will be created to monitor the increase in customers and customer satisfaction rates.
• The following customer demographics will be addressed:
  • Ages 25–50
  • College educated
  • Annual income greater than $75,000
  • Residents in cities with a population greater than 500,000
  • Technology savvy
  • Users of mobile technology at work and home

Constraints:

• The campaign must be six months in length.
• The strategy must utilize current technologies, including social media and data analytics, for predictive analytics to identify known and unknown customer segments.
• Strategy recommendations must integrate technology into current ERP and Marketing systems to create an improved digital business model that delivers and supports products to improve the customer experience and embed services of people, devices, and content.
• The plan must meet current and future neutrality regulations.

Dependencies:

The project requires input and participation from the following departments:

• Marketing
• Finance
• Information Technology
• Customer Service

Initial Risk Factors

• The company holds a 33 percent market share in the wearable technology category. After conducting a marketing analysis, senior leadership realizes that increased competition could negatively impact future earnings.
• Regulatory costs and impacts have not been evaluated.
• ERP and Marketing systems integration has not been evaluated, and costs have not been assessed.
• The impact on customer service has not been assessed.

Regulatory Cost and Impact

• Current and future neutrality regulations must be assessed, and their impact evaluated.
• Regulatory costs and impacts may include, but are not limited to, the following:
  • IRS compliance
  • FTC compliance
  • Sarbanes-Oxley compliance
  • Current and future neutrality regulations

Project Management Plan

Roles and Responsibilities

Signoff:
Comments

Project Scope (Assessment 2)

Overview

After conducting a marketing analysis, senior leadership recognized the potential negative impact of increased competition on future earnings. A task force has been selected to review Cosmo, Inc. and its competitors’ data analytic reports to recommend a new strategy. The market strategy plan will be completed in ten weeks at a cost of $150,000.

Description

The task force will develop a wearable technology marketing campaign strategy with the following objectives:

1. Achieve a 25% increase in market share.
2. Identify known and unknown customer segments.
3. Improve the customer experience and integrate services for people, devices, and content.
4. Incorporate trending technologies, including IoT, mobile technology, and artificial intelligence.

In Scope:

• The campaign will target the following demographics:
  • Ages 25–50
  • College educated
  • Annual income greater than $75,000
  • Residents in cities with a population greater than 500,000
  • Technology savvy
  • Users of mobile technology at work and home
• Utilize cloud technology at work and home.
• Include solutions for IoT, mobile technology, and artificial intelligence applications.
• Integrate with the current management infrastructure and reporting.
• Include predictive analytics for social media and data analytics.
• Be completed on time and within budget.
• Involve the Marketing, Finance, Information Technology, and Customer Service departments.

Out of Scope:

• The strategy will not specify the detailed steps for executing the marketing campaign.
• The strategy will not address speculative or future technologies.
• The task force will not continue monitoring the marketing campaign after the strategy is handed off to the executive team.
• The plan will not focus on educating non-technical or tech-deprived populations.

Acceptance Criteria:

• The strategy proposes methods to increase wearable technology production by 25 percent.
• The plan identifies unknown customer segments to increase the customer base by 20 percent.
• The plan positions Cosmo as a leading competitor in wearable technologies.
• The strategy incorporates IoT, mobile technology, and artificial intelligence applications.
• The plan integrates technology into current ERP and marketing systems to create an improved digital business model.
• The strategy proposes methods for supporting new products within the Customer Service department.
• The strategy meets current and future neutrality regulations.

Deliverables:

• A definitive list of trending wearable technologies.
• A gap analysis of Cosmo’s wearable technology solutions compared to competitors.
• An analysis of customer segments based on age, income, and technology ownership.
• A data analytics and social media predictive strategy.
• A gap analysis of current ERP and Marketing system features and requirements.
• Customer service requirements for supporting new products.
• Identification of relevant legal and regulatory requirements.

References

Schib, O., & Lee, C. (2015). Project sponsorship: Senior management’s role in the successful outcome of projects. PMI. https://www.pmi.org/learning/library/importance-of-project-sponsorship-9946

Villianova University. (2020, January 17). Project team roles and responsibilities. Villanova University. https://www.villanovau.com/resources/project-management/project-team-roles-and-responsibilities/

PM FPX 5018 Assessments 3 Marketing Campaign Strategy

Zein, O. (2010). Roles, responsibilities, and skills in program management. PMI. https://www.pmi.org/learning/library/roles-responsibilities-skills-program-management-6799