Sof-a-Logue Unit 2 Ip Script Mky651 Essay

1803 Words Sep 11th, 2013 8 Pages
MKT651
Unit 2 IP Script

Slide 1: Welcome to the strategic marketing plan for Sof-A-Logue.

Slide 2: Sof-A-Logue.com has been in the social media business for 10 years. The proposition of the company is to be the lowest cost, highest quality service provider in the industry (MKT650 Scenario, 2013). The enterprise has been successful in growing every year, with a total of five billion in sales, but overall awareness of the name Sof-A-Logue is low. The task of this plan is to increase the top-of-mind recognition of the Sof-A-Logue parent brand and determine a path forward for the company.

Slide 3: Competition in the social media arena is intense. Currently, there are thousands of companies trying to reach out to potential
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By focusing on next generation, children and young adults, we do just that. A current gap in the market is a safe environment for exploration of the internet and socializing by children under 18. By creating this situation, through marketing efforts directed at parents, educators, and directly to the target demographic, Sof-A-Logue becomes the first site a child uses, which leads to a greater overall Customer Lifetime value, which will be discussed later.

Slide 8: As seen in the SWOT analysis, an opportunity exists to reach out to the very young consumer, gaining brand loyalty to Sof-A-Logue at an early age and leveraging their purchasing power. The Tween segment consists of people from eight to fourteen years old and, when combined with all other under 18 consumers, have an estimated $209 billion in buying power (L., H. H., 2007). In addition, they influence many of the buying decisions made in the home as well as purchasing in their own right. This no longer is simply the idea of ‘pester power’, the repetitive requests for items seen in advertisements by children to parents, but rather a truly engaged consumer who is increasingly computer literate earlier in their lives (McDermott, O'Sullivan, Stead, & Hastings, 2006).

Slide 9: The position of a product or service is one of the 4Ps of marketing, with Price, Product, and Promotion being the other three (Winer & Dhar,

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