Strategies ( Acquisition Strategy)

 need only small part of the project to be done, which is Sales

Strategies ( Acquisition Strategy)

And it includes: 

7.1  Sales Team

7.2  Quantitative and qualitative objectives

7.3  Prospecting strategy

7.4  Compelling offer: Added value

7.5  Objections

 

 

    • attachment

      2022.2MkCapstoneProject.pdf
    • attachment

      MarketingCapstone-G41.docx

 

 

07.10.2022 09:48 1

ASSIGNMENT OUTLINE

 

 

Assignment title: Capstone Project – Marketing Specialization

Program: BBA7

Semester: 2022.2

Course name: Marketing 4.0 / Digital Marketing and Content Creation / Global Strategic

Management / Innovative Sales Strategies

Course number: MKT 5285 / MKT 5283 / MKT 5286 / MKT 5282

Faculty responsible: Ekaterina Vlad / Carlos Santín / Carlos Zea / Andrés Báez

Hand out date: Week 3

Hand in date: Week 5 (Concept) / Week 12 (All files including ppt) / Week 13 (Group

Presentations)

Weighting: 30% / 35% / 30% / 30%

 

Assignment Overview:

You are the new Marketing Team of a new hospitality brand (with physical assets, located

outside of your home country) that is developing their marketing strategy. Based on the criteria

described below, create a Marketing Plan for your brand launch (timeline: 1 year) and present

the highlights to the potential investors.

 

Overall aim:

The assignment will allow students to apply marketing tools to a practical case and to become

comfortable and confident in analyzing brands and competition, planning communications for

product launch, and creating an effective sales environment to promote any product.

 

 

Organization and methodology:

1. The class is divided into teams.

2. Each team represents a Marketing Department which is presenting their Brand strategy.

3. Product: a new hospitality brand in a country of your choice BUT outside of your home country/-ies.

4. Prepare the Marketing Plan for the launch of your hospitality brand (see report outlines for topics to

be included in the plan and use the report template).

5. Conduct a 20-minute group presentation to owners with the purpose of convincing them to choose

your brand to invest into.

 

Resources available:

See the syllabi of all courses related to this project.

 

 

 

 

07.10.2022 09:48 2

Learning outcomes for MKT 5285:

2. Evaluate the process of managing advertising, public relations, sales promotions, direct marketing, and

personal selling.

3. Assess the key strategic issues that must be addressed in preparing communication plans and campaigns.

4. Assess the use of integrated marketing communications in different contexts and situations.

5. Apply the appropriate vocabulary used in marketing communications.

Learning outcomes for MKT 5283:

1. Assess the theory, practice and use of cutting-edge digital marketing models

2. Identify and target consumers and non-consumers with personalized digital experiences through innovative

canvasing and value maps

3. Implement innovative digital technologies ranging from fluid and optimized web apps/mobile apps to

traditional communication models

4. Prototype user-facing communication channels for user engagement

5. Support digital marketing campaigns

Learning Outcomes for MKT 5286

1. Understand the global marketing environment, segmentation and positioning for strategic decision-making.

2. Explore competitive strategies in considering attractive markets for sustainable competitive advantage.

3. Examine branding strategies and the process of strategic brand management.

5. Review the process of global marketing research and the main marketing research methods.

Learning Outcomes for MKT 5282

1. Distinguish between the roles of sales and marketing.

2. Outline and apply the sales process.

3. Understand and appreciate consumer behaviours.

4. Understand and appreciate hospitality distribution channels

5. Create and use appropriate sales and marketing tools

 

Part I. Written Report – Marketing Plan

Every report must have the following structure:

Cover page

Statement of authorship (see page 5)

Table of contents

 

1. Executive summary

2. Brand Concept (WK5 & WK12)

2.1. Product

2.1.1 Product concept

2.1.2 Customer benefits related to your product & services features

2.2 Location

2.2.1 PESTLE

2.2.2 Market trends

2.2.3 Market potential

2.3 Customer

2.3.1 Customer segments (at least 2) & buyer personas

 

3 Competitive Strategy

3.1 Competitive analysis

3.2 SWOT

3.3 Price segment & average prices in EUR

3.4 First year revenue forecasts

 

 

 

07.10.2022 09:48 3

4 Global Marketing Strategies

4.1 Brand Logo & Slogan

4.2 Brand Image & Brand Associations

4.3 Brand Positioning

4.4 Cultural analysis of the country

4.4.1 Self-Reference Criterion

4.4.2 High Context – Low Context

4.4.3 Hofstede’s Cultural Typology

4.5 Economic analysis of the country

4.6 Taxes & Law

4.7 Political risks

 

5 Communication Strategies

IMC campaign plan for 3 months pre-launch + 9 months after launch

5.1 Goals and SMART objectives (2-3) of the IMC campaign

5.2 Selection of Promotion Mix tools

5.2.1 Content examples for each tool

5.3 Choice of communication media channels (digital and traditional)

5.3.1 Evaluation criteria (KPIs) for each channel

5.3.2 Ad Payment Models for each advertising channel

5.4 Communication activities schedule – Media plan (Excel template)

5.5 Budget allocation for each channel (reflected in the media plan)

 

6 Digital Strategies

6.1 WordPress

6.1.1 Template

6.1.1.1. Design at least 3 prototypes (Home, second-level pages, third-level pages, etc.)

6.1.1.2. Implement a template according to prototypes 6.1.2. Index with Google

6.1.2.1. Google Search Console (Webmaster tools)

6.1.2.2. Google Analytics

6.1.3. Information Architecture

6.1.3.1. URL structure

6.1.3.2. Menu structure

6.1.3.3. Internal linking

6.1.4. On-page SEO

6.1.4.1. Metatags on each page

6.1.4.2. On-page SEO ranking factors

6.1.4.3. Content (human-machine)

6.1.5. Special features

6.1.5.1. Plugins

6.2 Media plan (see points 5.2-5.5)

 

7 Sales Strategies (Acquisition Strategy)

7.1 Sales Team (If your business is small but becomes successful and you need a powerful sales team

because you open at least ten physical assets more)

7.2 Quantitative and qualitative objectives

7.3 Prospecting strategy

7.4 Compelling offer: Added value

7.5 Objections

 

8 Conclusion

9 References

10 Appendices (if any)

 

 

 

07.10.2022 09:48 4

 

Word limit for the Concept (section 2): Minimum 1000 – maximum 1500 words

Word limit for the total Report: Minimum 6000 – maximum 8000 words (introduction to conclusion

inclusively)

 

Special instructions:

The written report must include the statement of authorship (see page 5) signed by all team members.

 

Part II. Group Presentation

Based on the report, conduct a group presentation (sales pitch) to the investors. Remember, you are

presenting your hospitality brand to delight the investors!

 

Timing: 20 minutes (±2 minutes) for the actual presentation + 20 minutes Q&A

 

Every group member must participate equally in the presentation.

 

Assessment Deadlines & Weighting:

Week Date Time Assessment Format

Week 5 16/10/2022 23:59 Brand Concept (section 2) Moodle upload

Week 12 04/12/2022 23:59 All Files Submissions (incl. presentation) Moodle upload

Week 13 TBC In class Group presentations Live

 

Peer Evaluation

Please note that the peer evaluation is 10% of your grade, and it will be applied to your total project grade. See

the Peer Evaluation Form in the Appendix A (page 6).

 

Information & Submission Area in Moodle

All information and submission areas for the capstone project are in:

MKT5285 Marketing 4.0 – Assessment Strategy – Assessment 2 – Capstone Project

Weighting Marketing 4.0

Topic Weighting

Brand Concept (section 2) 10%

Written Report – General Part (sections 1-3) 20%

Written Report – IMC Campaign (section 5) 50%

Presentation Skills (individual grade) 20%

 

Weighting Digital Marketing and Content Creation

Topic Weighting

Brand Concept (section 2) 10%

Written Report, Website & Media Plan 70%

Presentation Skills (individual grade) 20%

 

Weighting Global Strategic Management

Topic Weighting

Brand Concept (section 2) 10%

Written Report (sections 1 – 4) 70%

Presentation Skills (individual grade) 20%

 

Weighting Innovative Sales Strategies

Topic Weighting

Brand Concept (section 2) 10%

Written Report (Sections 4, 5, 9) 60%

Presentation Skills (individual grade) 30%

 

 

 

07.10.2022 09:48 5

 

 

 

 

07.10.2022 09:48 6

Common skills: assessed (bold) or developed (italics):

MANAGING AND DEVELOPING SELF

1.Manages own role and responsibilities

2. Manages own time in achieving objectives.

3.Undertakes personal and career development

4. Transfers skills gained to new and changing situations and contexts.

5.Uses a range of thought processes

WORKING WITH AND RELATING TO OTHERS

6.Treats others’ values, beliefs and opinions with respect

7.Relates to and interacts objectively with individuals and groups

8.Works effectively as a member of a team

 

COMMUNICATING

9.Receives and responds to a variety of information

10.Presents information in a variety of visual forms

11.Communicates in writing

12.Participates in oral and non-verbal communication

 

MANAGING TASKS AND SOLVING PROBLEMS

13.Uses information sources

14. Deals with a combination of routine and non- routine tasks

15.Identifies and solves routine and non-routine problems

 

BECOMING NUMERATE AND USING TECHNOLOGY

16.Applies numerical skills and techniques

17.Uses a range of technological equipment and systems

 

 

Plagiarism:

 

Plagiarism is the act of presenting another’s ideas or words as one’s own. Cheating includes, but is not limited to, the

intentional falsification or fabrication of any academic activity, unauthorized copying of another person’s work, or aiding

and abetting any such acts.

 

Particular care must be taken when presenting information that has been obtained from an internet site. Should this

information not be correctly referenced then you are guilty of plagiarism and will be penalized accordingly.

 

Statement of authorship

 

Following the title page of your assignment there should be a page on which you sign a statement that the work included

in the assignment is your own work except where appropriately referenced. The following statement should be used:

 

Statement of authorship

 

I certify that this assignment is my own work and contains no material which has been submitted as part of an assignment in any

institute, college or university. Moreover, to the best of my knowledge and belief, it contains no material previously published or

written by another person, except where due reference is made in the text of the assignment.

 

 

 

Signed……………………………………………………………………. Name …………………………………………………………………….

 

Student number. …………………………………………………..

 

 

 

 

07.10.2022 09:48 7

Appendix A. Group Project Peer Evaluation Form

Please rate each of the members in your group (including yourself) regarding their contribution to your group project on a scale

from 0 to 10 using the following criteria matrix.

Points Works effectively as a

member of a team

Identifies and

solves routine

and non-routine problems

Manages time in

achieving objectives

Participates in oral

& non-verbal

communication

Overall

Contribution to

Group Project

9 – 10

Helps getting the group

moving without

dominating it

Supports others to

find appropriate

solutions

Can be counted on to

finish tasks and

undertake additional

tasks

Always contributes and

is able to publicly justify

a course of action

Would not be possible

without her/him

7 – 8,9

Always participates,

makes sure everyone has

a chance to participate.

Able to give

creative and

flexible solutions

which are helpful

Always gets things

done on time

Provides thoughtful,

meaningful suggestions

Above Average

contribution

6 – 6,9 Acceptable participation

Some helpful ideas

for solutions to

tasks

Usually gets things

done on time

Is helpful and makes

some suggestions Acceptable contribution

3 – 5,9 Participates, but does not

accept the team decisions

Provides limited

solutions to tasks

Gets things done, but

usually late

Contributes from time

to time Minimal contribution

0 – 2,9

Never shows up or is

disruptive of the team

process

Never identifies

problems or

provides solutions

Never turns anything

in Never says anything None

 

 

Each

Student

Name in

the group

Works

effectively

as a

member of

a team

Identifies

and solves

routine

and non-

routine

problems

Manages

time in

achieving

objectives

Participates

in oral &

non-verbal communication

Overall

Contributio

n to Group

Project

TOTAL

 

 

 

 

 

 

 

Additional comments and concerns:

 

 

 

,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

We certify that this capstone project is our own work and contains no material which has been accepted for the award of any degree or diploma in any institute, college or university. Moreover, to the best of our knowledge and belief, it contains no material previously published or written by another person, except where due reference is made in the text of the capstone project.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signed:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENT

 

 

 

 

 

 

 

 

1. EXECUTIVE SUMMARY 5 2. BRAND CONCEPT 6 2.1. Product 6 2.1.1. Product concept 6 2.1.2. Customer benefits 6 2.2. Location 6 2.2.1. PESTLE analysis 6 2.2.2. Market trends 6 2.2.3. Market potential 6 2.3. Customer 7 2.3.1. Customer segments 7 3. COMPETITIVE STRATEGY 8 3.1. Competitive analysis 8 3.2. SWOT 8 3.3. Price segment & average prices in EUR 8 3.4. First year revenue forecast 8 4. GLOBAL MARKETING STRATEGIES 9 4.1. Brand logo & slogan 9 4.2. Brand image & brand associations 9 4.3. Brand positioning 9 4.4. Cultural analysis of the country 9 4.4.1. Self-reference criterion 9 4.4.2. High context – Low context 9 4.4.3. Hofstede’s cultural typology 9 4.5. Economic analysis of the country 10 4.6. Taxes & laws 10 4.7. Political risks 10 5. COMMUNICATION STRATEGIES (IMC campaign plan) 11 5.1. Goals and SMART objectives 11 5.2. Promotion Mix tools & content examples 11 5.3. Communication channels 11 5.3.1. Channel KPIs 11 5.3.2. Ad payment models for ad channels 11 5.4. Communication schedule 11 5.5. Communications budget allocation 12 6. DIGITAL STRATEGIES 13 6.1. WordPress 13 6.1.1. Template 13 6.1.2. Index with Google 13 6.1.3. Information architecture 13 6.1.4. On-page SEO 14 6.1.5. Special features – Plugins 14 6.2. Media plan 14 7. SALES STRATEGIES 15 7.1. Sales team 15 7.2. Quantitative and qualitative objectives 15 7.3. Prospecting strategy 15 7.4. Compelling offer 15 7.5. Objections 15 8. CONCLUSION 16 9. REFERENCE LIST 17 10. APPENDICES (optional) 18

 

 

 

 

 

1. EXECUTIVE SUMMARY

 

 

 

 

 

 

 

 

2. BRAND CONCEPT

 

 

2.1. Product

 

 

2.1.1. Product concept

 

 

The concept of our restaurant is a gallery restaurant with a lounge bar from 11pm. The main idea of our concept is to create unforgettable experiences for guests as the concept is pretty unique where they will be able to have breathtaking views on the Burj Khalifa as well as the very famous fountain shows. The restaurant will be located in Dubai, United Arab Emirates, a country part of the Middle East. Our restaurant is going to be on the bottom floor in the Dubai Mall, it is also going to have its own terrace with tables with a view on the fountain. People are going to Dubai because they are sun-seeking, in addition a lot of businesses are getting created in Dubai. We decided to call the restaurant, the Impressionist restaurant and gallery. We chose this name because it is in relation to the art movement that appeared in the 19th Century in France as we are going to have artworks exhibited in the lounge of our restaurant. The artworks are going to be temporary and we are going to have donations from important art galleries all around the world, we are going to intent choosing some art pieces that are in relation to our brand name, the artworks are going to be changed on a monthly basis and we are going to try to keep a minimum of 20 art pieces per month. Regarding the gastronomy and the culinary art of the restaurant we chose to focus on molecular gastronomy. One dish that we are going to make is deconstruction salmon, which consists of all the ways we can cook and eat salmon, generally speaking our dishes are going to be small and delicate in the mouth, tasteful and we are also going to intend to achieve the affective side of the customers with tastes that can recall them dishes they like. The aim is to create an atmosphere that will make people want to return to this place. In addition to the fact for the guests to have an unforgettable experience in the restaurant, they will have the opportunity to come through the gallery and have the opportunity to buy and admire the beautiful artworks with signature cocktails from the bar. To enhance the experience of the guests, they will have the chance to dance and experience the nightlife in Dubai in our bar after the dinner service.

 

 

 

 

 

 

 

 

 

 

 

2.1.2. Customer benefits

 

 

The value proposition for our potential customers includes the gallery-restaurant concept, music, incredible artworks, high quality food and drinks at a competitive price for the location and the city we are basing ourselves in. In order to make sure that the quality of the service is kept, the food and drinks will be served with attention to details, time, quality and friendliness of our waiters. Some of our potential guests are coming from all over the world to have fun, unforgettable memories and experience some unique concepts. Since there is a lot of competition in Dubai, we will need to make sure that we identify our competitive advantage and stand out, in order to do so, we will need to make our pricing strategy competitive at the beginning in order to attract customers and to engage the customers so they will come back. This pricing strategy will be advantageous for us because the potential customers will enjoy high quality food, drinks and service in our restaurant. The customers will benefit from our concept because they will be able to buy artworks and also have a drink and eat at the same place. Lastly , our location is very important because it is one of the most touristic areas in Dubai, therefore, we need to make sure that the tourists are attracted to our image, the architecture and decor need to be as unique as our concept in order to create a unique atmosphere adapted to the unique selling point. Our restaurant will present our guests with an entire journey into the art world, sparking all their senses, sight, smell, hearing, touch and most importantly taste.

 

 

 

 

 

 

 

 

2.2. Location

 

 

The United Arab Emirates was created in December 1971 but has developed tremendously over the past 30 years nonetheless the UAE currently became the leading location for F&B operations in the Middle East due to the exalted tourist flow. Additionally, throughout the years, it has become one of the world’s largest melting pots, gathering over 200 different nationalities.

 

 

Dubai is a modern city that is open to many innovations, which is why we chose this location, as the concept of our art gallery restaurant is relevant and modern, which is ideal for the city.

 

 

The exact location of our dining establishment is between the two most popular tourist attractions. Firstly, on one side of the terrace, our guests will get to have a view of the world-famous dancing fountains, and right on the other side, they will get to catch a glimpse of the tallest building in the world, Burj Khalifa. Secondly, another one of “The Impressionist” attributes is that the world-renowned Dubai Mall is also within walking distance, which is considered to be a very good advantage, as the Dubai Mall is also a tourist attraction which will captivate individuals to come and have this journey with us

 

 

 

 

 

2.2.1. PESTLE analysis

 

 

Political:

 

 

UAE is considered to be a politically stable country among Arab countries and in the gulf area. As for the government system in the UAE they follow the constitutional monarchy as a system of the government. They are considered of 7 seven emirates, Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain. As for opportunities in the political factor, they maintain good trading relations with the United States, India, China and other countries in the region(“Country Report United Arab Emirates”,2022) . The political threat for the UAE as they participated in the Yemen war and this had caused some conflicts between them and Iran which has a major regional power. In addition to that, they are also a participant in the blockade of Qatar from 2017.

 

 

 

 

 

Economic:

 

 

As for the whole country of the UAE, they are members of different international economic and political forums, like the UN, world bank, IMF, Arab League, OIC, OPEC, and GCC. UAE ranks 29th in the world which is a high ranking among the neighboring countries. As for the interest rate of the UAE it has increased from 4.5% in September 2022(“Bank of United Arab Emirates Interest Rate 2022) this could be a threat for the UAE economy as interest rate is increasing.

 

 

 

 

 

Social:

 

 

The United Arab Emirates’s population is 9,272,000 (“United Arab Emirates – History”, 2022). The UAE is considered as the country with more immigrants than the actual Emiratis population with only 20% of the population. Therefore this is an opportunity for us because it means that the UAE is a very prominent cosmopolitan and multicultural country, there are over 200 nationalities living in the UAE. Such diversity is

 

USEFUL NOTES FOR:

 

Sales Strategies ( Acquisition Strategy)

 

Introduction

 

Sales is an integral part of any business. It’s the process through which a company sells its products or services to customers, and it can be done in many different ways. The sales funnel is one way that companies measure their success at acquiring new customers, but there are many others as well. This article will cover some of these strategies so you can increase your pipeline without spending extra time on marketing or sales tools such asCRM software or lead management systems (LMS).

 

The sales funnel

 

The sales funnel is a visual representation of the sales process, which can be used to measure and improve marketing effectiveness, efficiency and performance.

 

The basic idea behind this tool is that you start with an awareness stage where customers are not aware of your product/service. Then they move into consideration (or investigation), trial (or purchase) and finally loyalty as they become repeat buyers.

 

Marketing automation

 

Marketing automation is a way for companies to automate repetitive tasks. It allows them to focus on more important things and increase the effectiveness of their marketing campaigns, which results in better content being created, as well as an improved customer experience.

 

Sales automation

 

Sales automation is a software-based system that automates sales tasks. It can be used to automate the lead generation process, or it can also be used to automate the sales process. Sales automation is one of the most effective ways for businesses to increase their productivity and efficiency, which in turn allows them to grow their business by giving them more time to focus on other things like marketing or customer service.

 

Sales automation tools can help you automate several different parts of your business:

 

A/B testing

 

A/B testing is a scientific method for comparing two versions of a web page, web application or any other kind of software to determine which version performs better. The goal is to reach the best combination between changes and retaining the current user behavior.

 

In order for A/B testing to work properly, you need a control group (the original version) and an experimental group (the test). Your initial hypothesis should be “I want more people using my website” rather than “I want fewer people using my website” because this approach could lead you down the wrong path if there aren’t enough users online at any given time throughout your day!

 

Lead scoring

 

Lead scoring is a way of measuring the quality of leads. It’s based on how likely they are to buy, and can be scored on a range of factors including:

 

How much they know about your product (e.g., what features it has).

 

How much they want your product (e.g., if they’ve asked for more information or shown interest in purchasing).

 

Heatmap testing

 

Heatmap testing is a method of visualizing user behavior on a website. A heatmap is created by analyzing the clicks, scrolls and page breaks of each visitor to your site. The resulting image shows you where users are clicking or scrolling most frequently on your website, as well as how long they spend looking at certain elements within each page.

 

Heatmaps can be used in many different ways:

 

To understand what content resonates most with users; for example, if one area of your site gets more traffic than another area due to its popularity among visitors then it may be worth increasing its prominence within that section of the site. This will help increase engagement from existing customers who find value in this particular piece of content while also attracting new ones through word-of-mouth recommendations from friends/family members etc..

 

Abandoned cart retargeting

 

You can use abandoned cart retargeting to re-engage potential customers who left your site without completing a purchase. The idea behind abandoned cart retargeting is simple: if a user has an interest in purchasing something on your website, they will likely leave to buy it. But if you can convince them that they should stay and complete the purchase instead, then you have another chance at converting them into loyal customers for life! In order for this strategy to work well for your business though, there are some things that need to be done correctly.

 

Retargeting ads

 

Retargeting ads are similar to remarketing, but they have a few key differences. Unlike remarketing, retargeting ads show you ads based on the websites you’ve visited in the past. This allows you to target visitors who have already been on your site and could be interested in purchasing again.

 

Retargeting provides an excellent way for ecommerce businesses to get people back into their stores by showing relevant products they may have missed while browsing through other sites like Amazon or eBay (or anywhere else).

 

Web push notifications

 

Web push notifications are a great way to engage your users on their desktop. They can be used to send a message, offer or coupon and are more effective than email marketing or social media marketing because they’re not restricted by time or location.

 

There are many ways to increase the size of your pipeline.

 

There are many ways to increase the size of your pipeline.

 

The sales funnel, which consists of stages that lead to a sale and are used by companies to help them understand where they need to improve.

 

Marketing automation tools like Hubspot or Pardot can help you automate parts of your marketing campaigns so that you don’t have to spend time manually sending emails or making phone calls for each lead. This allows for more time spent on nurturing relationships with those leads instead of just pushing out content without knowing if it’s working or not (because there’s no tracking).

 

Sales automation platforms allow businesses like yours access to CRM software that helps manage customer data from multiple sources including social media posts, email lists and website analytics information about user behavior within specific websites pages visited through search engine results pages (SERPs).

 

Conclusion

 

We hope this article has helped you understand the value of your pipeline and how to improve it. The more leads you can convert into customers, the more money you’ll make. And with marketing automation tools like HubSpot, it’s easier than ever to get started on creating a high-quality pipeline.

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