MB935: Identify a market of your choosing and consider the characteristics of the market environment: Economic Analysis for Strategists Assignment, UOS, UK

You are the lead digital marketer for Headspace and have been tasked with creating a digital marketing strategy plan based on situation described in the Case Study (see case study below).

Using this information and any external research on the company, create a plan for Headspace’s digital marketing efforts. Your report must include the following sections:

1.Customer Journey for Headspace Create a customer journey map that would reflect a potential customer’s journey for purchasing one of Headspace’s services/products.

2.Pain Points & Market Opportunities Based on your completed customer journey, identify three pain points OR market opportunities that are present. Then, choose ONE of the three issues/opportunities you believe should be a priority to address. Be sure to explain why you believe this market opportunity/pain point is the one to be addressed over the others.

3.Situation Analysis The situation analysis focuses on the business context in which customers are purchasing or deciding to purchase your product/service.

Define the current market situation that Headspace is currently experiencing to leverage value from the customer journey opportunity identified above. Here are some questions to assist in helping to analyze the situation: What stage(s) of the customer journey are customers able to gain the most value and where are they not getting much value?

What stage(s) of the customer journey is Headspace able to leverage the most value and where are they not?

Which digital channel(s) does Headspace have a strong presence in? Which digital channels does Headspace have a weak presence in?

Compare these strengths and weaknesses to the digital channels that potential customers might use to become aware of, recommend, or repurchase Headspace’s services/products. Assess the digital presence of HeadSpace compared to its competitor, Calm.

Conduct an SEO audit to describe how HeadSpace is digitally shows up to potential customers. Given these channels, what are smaller conversions (micro-conversions) – e.g., download an eBook, sign up for emails, etc. – that the customer can complete that will help get them through the customer journey to eventually purchase (macro-conversion)?

4.Key Insight A key insight is meant to summarize the take-away from your assessment. It acts as the “Aha!” moment of your assessment. Identify ONE key insight.

5.Digital Campaign Objective Based on your overall assessment, choose ONE of the following goals for your digital campaign that will address the opportunity/pain point identified earlier. Increase brand awareness of HeadSpace Promote a new product/service of HeadSpace Get basic HeadSpace subscribers to become premium subscribers Retain current HeadSpace subscribers Increase downloads of the HeadSpace app Generate qualified leads for B2B business Increase the share of the meditation/mindfulness market

6.Measuring Success Describe at least three KPIs you will use to measure the success of your recommended digital solution and how it relates to the campaign. To properly describe your KPIs, think of the following question: What would be a “good” sign of success for your KPIs (should the number go up or down) and why (in other words, what does a low (or high) number indicate)?

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