Presentation: Determining KPIs to Measure Strategy Success
Overview
You are the regional marketing director of a theme park in the southeastern United States that is part of a global brand. The chief marketing officer (CMO) of global operations has called upon you to help coordinate the marketing tasks related to rolling out an emergency response due to a recent safety and injury incident at one of the parks resulting in serious injuries to employees and customers. The parks were closed immediately following the incident to ensure safety measures for customers and employees and to deploy the needed safety measures.Now, as the theme park is all set to reopen, the CMO has called you to take a lead in planning the marketing strategy for the same. Your responsibility is to design a phased strategy for marketing and the reopening of all parks. Your strategy should address critical objectives such as maximum safety, crisis communication, customer satisfaction, and profit potential. You must coordinate marketing strategy with corporate strategy, as failure or success of the marketing strategy can have a direct impact on the brand.
A good marketing plan needs to translate into quantifiable measures. Without such quantification, a plan will often fall apart. Thus, defining objectives and respective key performance indicators (KPIs) to measure the effectiveness of the plan is essential.
Your CMO has asked you to create a strategic marketing plan and share it with other regional marketing directors, so that each theme park follows a similar strategy. Considering the different challenges in each park, the marketing objectives must be broad enough to address each park’s challenges, with minimum or no customization.
Defining the marketing objectives and relevant KPIs will help you, the other regional marketing directors, and the CMO to pre-assess the effectiveness of the plan you have proposed and to address gaps, if any.
Prompt
Create a PowerPoint presentation for the CMO and your fellow regional marketing directors in the course scenario. The goal of this presentation will be to share marketing objectives, associated success criteria, and methods to monitor and measure the results.
Specifically, you must address the following criteria:
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Identify two SMART objectives (Slides 1–2)
- Choose two of the marketing methods identified in Milestone Two (attached) and identify SMART objectives for each.
- Begin this part by restating the identified marketing strategies and then state the SMART objectives. How does each objective align with the SMART framework?
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Identify two KPIs—one for each marketing objective—to measure the success of the marketing strategies (Slides 3–4)
- What are your reasons for choosing each KPI?
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Determine two methods to monitor the results of the identified KPIs. (slides 5–6)
- Why have you chosen these methods?
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Describe the feedback loops to be implemented in this case (Slides 7-8)
- Identify the specific feedback loops you will monitor and how often.
- How should results be reported to the key stakeholders needing this information?
Guidelines for Submission
Submit a PowerPoint presentation with 8-10 slides, APA style. Use speaker notes to address critical elements of the presentation
Presentation: Determining KPIs to Measure Strategy Success Overview You are the regional marketing director of a theme park in the southeastern United States that is part of a global brand. The chie
MBA 645 CMO Memo for Target Audience To : Director of Marketing, U.S. Park Southeast From : Chief Marketing Officer, Global Theme Parks Re: Target Audience Identification This memorandum is intended to confirm our recent presentation to the marketing directors of our global theme parks. A target audience is a group of consumers within a predefined target market that have been identified as the best recipients for a particular marketing message. And a target market broadly describes consumers who care about our theme parks, products, and services. Under the right conditions, they are most likely to be our customers, and our marketing efforts shoul d focus on this target audience. For the U.S. Park Southeast, working with market research and our business intelligence group, we have identified the primary target audience of families with children ages 6 –18 and an average annual income of more than $7 5,000 per year. A secondary target audience of teens ages 15 –18 has also been identified. These two target audiences will likely create a diverse marketing plan as we re -engage with them through our reopening efforts.
Presentation: Determining KPIs to Measure Strategy Success Overview You are the regional marketing director of a theme park in the southeastern United States that is part of a global brand. The chie
MBA 645 Memo From Legal Team To: Chief Marketing Officer — Global Theme Parks From: Corporate Legal Department CC : U.S. Directors of Marketing, U.S. Parks Re: Legal and Ethical Considerations in Marketing the Parks’ Reopenings Below you will find a list of considerations to take into account in the development of the marketing plans to support t he reopening of our U.S. parks. We are asking you to review all plans and messaging with the legal teams at your specific parks, given that local and state statutes will vary. Broadly, these are considerations to keep top of mind as you develop your plans. Ethical considerations: • There are growing corporate social responsibility (CSR) trends addressing people, planet, and profit. Commonly called the triple bottom line or TBL, these trends are becoming the expected norms for businesses. • Ensure your ef forts align with our company’s TBL efforts and CSR initiatives. • Ensure you engage critical stakeholder groups as required in both the marketing initiatives and communications. • We understand a significant portion of our target audience is comprised of families with young children, young adults, and teenagers. This audience is particularly sensitive to the CSR of businesses they consider supporting. Here are six unethical and illegal practices to avoid: 1. False advertising 2. Selective marketing 3. Unethical data collection 4. Stereotyping 5. Negative advertising 6. Pricing strategies (predatory pricing or “bait and switch” pricing) With consumers able to access transparent details of businesses’ operational policies and philosophies, any questionable marketing approaches are sure to come to light and must be avoided.
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