A strategic Marketing Plan is covered in Module 5; the last step in MKT2235. It is a great way to tie all the modules together.
Open your notes for Module 5 and follow along these short videos and you will be prepared for this week’s class. Take notes as you watch. The first video below is a brief introduction to the Strategic Marketing Plan.
A SWOT is completed for the final case study this week. This video will however be useful in your final exam. Use weaknesses to build objectives
In order to write a Mission Statement, I first visited the Chateau Montebello web site and then watched this video to understand a little more about the business. I wrote down words that I picked up from the video and web site. Try it for yourself then watch how to write a Mission Statement below. It is three easy steps.
A quick video of Fajitas made in the Lone Star, (YouTube) suggests freshness, right? Look again🙂
Lone Star Texas Grill has made use of Facebook, Twitter, Pinterest, YouTube and Instagram. Some of the scenarios this week will address their use and make suggestions. Do you think Lone Star use the tools effectively?
How well do these tools support strategies for the mature stage of the product life cycle?
See page 285 in your text for a guide and use it during the case.
This case is a little bit different. Located on Baseline and Fisher, it is a few minutes from the college, is a local success story and you can visit it easily to get some ideas for the case.
If you don’t get to visit, take a look at their web site and consider the restaurant’s strengths, weaknesses, opportunities and threats as you read the case. A copy of the The Lone Star Menu can be seen here.
How often does the word “Fresh” appear? What do you notice about their promotions, services and menu?
How well do they use social media?
Although there are two chapters to read, the assigned readings are short and relatively easy. We will move from Positioning Strategies to Product Strategies in Module 4. The three principle concepts to understand in this module are Proactive/Reactive Strategies, Branding, plus the Product Life Cycle Strategies.
Did you ever notice that restaurants launch new products and services regularly? Why? Here is a video to get you to start thinking about new products in our industry.