...The Data Are In: Best Home Care Marketing Practices Revealed Part 2 White Paper 06-001 WP06-001 Contents 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. Background Participant Agency Characteristics Outcomes Conversion Ratio Areas of Interest Written Marketing Plan Formal Marketing Budget Sales Team Training Specialty Programs Findings Interpretation Conclusion Side Bar: Action Plan for Sales and Marketing Success About the Authors Page 1 Pages 2-3 Pages 3-4 Pages 5-6 Page 6 Pages 6-7 Pages 7-9 Pages 9-10 Pages 11-12 Pages 12-14 Page 14 Pages 15-16 Page 16 Page 17 Page 17 WP06-001 The conclusion of a two-part series, this article provides the first look at the responses from a study evaluating the best marketing practices of home health agencies across the country. In Part 1, we profiled a few exemplary agencies with the goal of describing a set of common attributes that have lead to success. In Part 2 (below), we delve deeper into the component measures by exploring the first industry-specific benchmarks of marketing success! Background With each passing day, sophisticated sales and marketing becomes a more important trait among the industry’s leading providers. Ninety percent of survey respondents indicated that they have experienced increased competition over the last three years. Only 51 percent reported that they had increased referrals over the same period with 33 percent citing decreases. The million dollar question, then, is, “What practices are prevalent and...
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...conclusions supported by evidence from the literature | | | | | | In modern conditions of the relations of the developed market of the organization shall pursue more various policy to look for various methods of its implementation so that it could be arranged in time in case of new market conditions to look for new ideas of development. If it demands to be to strategic policy based on the long-term program which mentions all spheres of the organization. However, in unstable, often changeable, dynamic and uncertain conditions of market economy the organization shall adapt to such environment very quickly. The purpose of this work consists in critically to estimate argument that formal strategic planning the more corresponding organizational process for firms which make strategic decisions in very uncertain and dynamic environments. Relations between formal strategic planning and organization Economic indicators - "a controversial, problematic and unresolved problem" (Pierce, etc., 1987). Let's begin with...
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...Cigarette Company The IMC Plan Project for On the Mark Accounting and Tax Service, LLC means starting at zero with the IMC campaign planning. The CEO of the company knows that acquiring and retaining clients is an ongoing process, and now is the time to complete an analysis to determine what, if any, changes need to be made to the marketing communication efforts. There are many reasons a formal campaign plan should be created: it will provide the CEO a sensible process to identify the most important exchange issues on which the company should focus; it notifies everyone involved with MC, what is expected of them; it will assist in guaranteeing the MC effort is incorporated and concentrated on the most important message issues; these plans inform top management personnel how and why the funding will be spent and what the company will gain in return; and the plan will provide the CEO and marketing management a criterion against which development and final results can be measured (Duncan, 2005, pp. 170-171). Executive SUMMARY to: Mike Yesner FROM: REBECCA BRYSON SUBJECT: IMC PLAN PROJECT DATE: 6/11/2013 CC: Purpose and Scope of Document The purpose of this document is to introduce an IMC Campaign Plan to the board of directors at On the Mark Accounting and Tax Service, LLC. First, marketing managers must identify target audiences; second, the CEO and management team must analyze the SWOTs of the company; third, the CEO and marketing team need to determine...
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...Session 2 : Foundations of strategic marketing Can you say what your strategy is? Companies that don’t have a simple and clear statement of strategy are likely to fall into the category of those that have failed to execute their strategy or those that never had one. Often many employees are frustrated that no clear strategy exists for the company. Leaders of firms assume that the initiatives described in the documentation that emerges from an annual budget or a strategic planning process will ensure competitive success; they fail to appreciate the necessity of having simple and clear strategy statement that everyone can internalize and use. A well understood statement of strategy aligns behaviour within the business: it allows everyone in the organization to make individual choices that reinforce one another. With a clear definition an executives know what they’re trying to create and implementation becomes simpler as the strategy can be communicated and easily internalised. Most executives don’t actually know what all the elements of strategy statements are, which make it impossible for them to develop one. Mike Rukstad identified three components (objective, scope and advantage) of a good strategy statement and believed that executives should be forced to be clear about them. Any strategy statement must begin with a definition of the ends that the strategy is designed to achieve; the definition of the objective should include not only an end point but also a time...
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...BMA351 MARKETING MANAGEMENT STUDY GUIDE – WEEK 2 STRATEGIC MARKETING PLANNING INTRODUCTION This week you will be introduced to the concepts of strategic planning and the strategic planning process. Important in this discussion is an understanding of the hierarchies that exist within firms and within the planning process. Last week’s consideration of the differences between strategic and tactical is useful too. You will also be introduced to idea of marketing control, which is an important element you will need to address in Assessment Item 2 – Strategies & Implementation. Resources Lecture slides (download or view PowerPoint file) Recorded MyMedia lecture – Week 2 Prescribed text: Chapter 2 MyLO: Readings/Strategic marketing planning Acknowledgement: Sections adapted from Ferrell, OC & Hartline, MD 2010, Marketing strategy, 5th edn. Cengage Learning, Mason, OH. © 2010 Cengage 1 LECTURE OUTLINE Strategic Planning and the Strategic Planning Process The majority of organisations operate according to a formal plan. Formal planning can yield many benefits for all types of firms. It encourages senior management to think ahead systematically and refine its objectives and policies. Sound planning helps the company to anticipate and respond quickly to environmental changes, and prepare for sudden developments more effectively. Whether at the corporate, business unit, or functional level, the planning process begins with an indepth analysis of the organisation's...
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... What constitutes good marketing research? 2. What are the best metrics for measuring marketing productivity? 3. How can marketers assess their return on investment of marketing expenditures? CHAPTER SUMMARY 1. Companies can conduct their own marketing research or hire other companies to do it for them. Good marketing research is characterized by the scientific method, creativity, multiple research methods, accurate model building, cost-benefit analysis, healthy skepticism, and an ethical focus. 2. The marketing research process consists of defining the problem, decision alternatives, and research objectives, developing the research plan, collecting the information, analyzing the information, presenting the findings to management, and making the decision. 3. In conducting research, firms must decide whether to collect their own data or use data that already exist. They must also choose a research approach (observational, focus group, survey, behavioral data, or experimental) and research instruments (questionnaire, qualitative measures, or technological devices). In addition, they must decide on a sampling plan and contact methods (by mail, by phone, in person, or online). 4. Two complementary approaches to measuring marketing productivity are: (1) marketing metrics to assess marketing effects and (2) marketing-mix modeling to estimate causal relationships and measure how marketing activity affects outcomes. Marketing dashboards are a structured...
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...ZIMBABWE SCHOOL EXAMINATIONS COUNCIL (ZIMSEC) ADVANCED LEVEL SYLLABUS BUSINESS STUDIES 9198 EXAMINATION SYLLABUS FOR 2008-2012 2 BUSINESS STUDIES ZGCE Advanced Level 9198 CONTENTS Introduction Syllabus Aims Assessment Objectives Scheme of Assessment Curriculum Content Notes for Guidance Resource List PAGE 2 2 2 3 3 10 25 3 INTRODUCTION 1.1 The aim of this syllabus is to enable Centres to develop Business Studies courses that are suitable for Advanced Level candidates. The syllabus contains largely the same body of curriculum content as the Management of Business Advanced Level syllabus (9368) and AICE Business Studies syllabus (0128) which previously were examined by UCLES. Although no previous study of the subject is assumed by the syllabus, it would be recommended that students should have done 'O' Level Business Studies 1.2 1.3 2 SYLLABUS AIMS The syllabus is intended to lead to courses that will encourage students to: 2.1 2.2 Understand and appreciate the nature and scope of business and its role in society; Develop critical understanding of organisations, the markets they serve and the process of adding value. This should involve consideration of the internal workings and management of organisations and, in particular, the process of decision making in a dynamic environment; Be aware of the economic, environmental, ethical, governmental, legal, social, technological etc issues associated with business activity; Develop skills in:...
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...Summary of Key Points for Chapter 2 Chapter Objectives: 1. Explain companywide strategic planning and its four steps. 2. Discuss briefly how to design business portfolios and develop growth strategies. 3. Explain marketing’s role under strategic planning and how marketing works with its partners to create and deliver customer value. 4. Describe the elements of a customer-driven marketing strategy and mix, and the forces that influence it. 5. List the marketing management functions, including the elements of a marketing plan. COMPANYWIDE STRATEGIC PLANNING: DEFINING MARKETING’S ROLE The task of selecting an overall company strategy for long-run survival and growth is called strategic planning. Companies typically prepare annual plans, long-range plans, and strategic plans. Strategic planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing market opportunities. Refer to Figure 2.1 on pg. 63, which shows the 4 steps in strategic planning. 1. Defining a Market-Oriented Mission Many organizations develop formal mission statements. A mission statement is a statement of the organization’s purpose – what it wants to accomplish in the larger environment. A clear mission statement guides people in the organization. A market-oriented mission statement defines the business in terms of satisfying basic customer needs. See Table 2.1 (pg. 64) for market-oriented vs. product-oriented...
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...Pharmaceuticals is one of the leading pharmaceutical companies in Bangladesh. It also is one of the biggest suppliers of pharmaceutical product of any Bangladeshi based company. BPL is the first Bangladeshi company to supply pharmaceutical product to Riffles Hospital the most prestigious hospital of Singapore In 2005, BPL took over Beximco Infusions Ltd., a listed company of the Beximco Group engaged in manufacturing and marketing of intravenous fluids and got enlisted with the Alternative Investment Market (AIM) of the London Stock Exchange through issuance of Global Depository Receipts (GDRs). Shares of the Company are traded in Dhaka and Chittagong Stock Exchanges of Bangladesh and its GDRs in AIM of the London Stock Exchange. The paper seeks information on the planning and organizing system that used at BPL. Different methods have been employed to analyze the data both from primary and secondary sources. It gives an idea of how information on purchases and sales, both local and foreign are integrated into the data system for evaluation and reporting purposes. Objectives * Introduce Beximco Pharmaceuticals Ltd and its planning and organizing system. * Provide a comprehensive idea on its organizational design in play in different part of the organization * To show the description of the centralization and decentralization * To...
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...MARKETING PLANNING – CHAPTER 2 Developing a marketing plan is a key responsibility. The marketing plan can be divided into two general parts: the situation analysis, which analyzes the background of the market for the product, and the objectives, strategy and programs based on the background analysis that direct the product manager’s actions. MARKETING PLAN A marketing plan is a written document containing the guidelines for the business center’s marketing programs and allocations over the planning period. Give life to a marketing plan = business plan (CEO) Marketing plan= Chief Marketing Officer. One-year time framework (mostly). Short states and implements. At the end, check and asses. Kotler (NOT MORE than 15 pages). Straight to the topic, NOT wide. What you need and how to get there. * Written document: not something stored in a product manager’s head. It provides a vehicle for communications between functional areas of the firm. It pinpoints responsibility for achieving results by a specified date. * Business center level: the precise level at which plans are written varies from organization to organization. For example, in a company using a band management organizational structure, a marketing plan is written for each brand that is a profit center. Alternatively, some companies write plans for groups of brands or products, particularly when fixed costs are difficult to allocate by individual product. While marketing planning is common, it occurs at different...
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...LEARNING OUTCOME Upon completion of the assignment students will be able to: develop conceptual skills in applying the basic concepts of marketing and its many elements such as the marketing mix, marketing environment, marketing research methods. understand the marketing environment and help develop an in-depth understanding of the marketing strategies used in actual market place. apply analytical skills to analyse their conceptual foundations with actual market practices thus giving them an understanding of how to compete effectively and face the challenges of a marketplace ASSIGNMENT QUESTION A marketing plan serves to document how the organisations strategic objectives will be achieved through specific marketing strategies and tactics with customer as the starting point. Company Overview Nestlė is the world's leading Nutrition, Health and Wellness company. Their mission of "Good Food, Good Life" is to provide consumers with the best tasting, most nutritious choices in a wide range of food and beverage categories and eating occasions, from morning to night. Nestlé believes that it is only possible to create long-term sustainable value for our shareholders if our behaviour, strategies and operations also create value for the communities it serves. The Company was founded in 1866 by Henri Nestlé in Vevey, Switzerland, where the headquarters are still located today. They employ around 280 000 people and have factories or operations in almost every...
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...Executive Summary: A Business Report is an objective and presentation of information in order to achieve some purpose. It is a basic management tool used in decision making. Report may be classified in different ways. Like on the basis of formalities, On the basis of function, On the basis of frequency of issue etc. The basic objective of the report is to know the salient features of writing report & how the formal reports are important in Business Communication. Business report has no single correct answer but several solutions, each with their own costs and benefits to an organization. Report may be targeted to readers inside or outside the organization. In formal reports we have three parts. Two is Preliminary parts & Report body & the other one is Supplementary parts. With introduction parts the reader can get the assignment main topic & also helps the reader’s follows & understands information. It is an important parts of a formal business report. Supplementary parts view the readers where he found the details of the topic. In formal report readers have the clear facts views. Accuracy of facts, precision, Brevity, Clarity etc are the characteristics of business report. Often reports are structured in a way that reflects the information finding process and the writing up of the findings that is, summary of the contents, introduction or background, methods, results, discussion, conclusion and/or recommendations. The inclusion of recommendations is one reason why reports...
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...Communication H/502/5413 BTEC National 10 Guided learning hours: 60 Aim and purpose The aim of this unit is to show learners that the collection and management of business information, and the successful communication of that information throughout a business, is critical for the future prosperity of the organisation. Unit introduction A business needs accurate and relevant information from internal and external sources in order to operate profitably. Proper collection of data creates an environment where informed decisions can be taken for the benefit of the business. In order to manage information effectively, there must be good communication systems within the organisation. Staff must possess good verbal and written skills in order to communicate and share information Business information can be used to obtain competitive advantage and promote efficiency. Organisations generate information internally, recording details of products manufactured, purchased and sold, and their associated costs. Businesses use information to manage not only what is currently happening in the organisation but also to plan for the future and ensure their survival. Information is collected, stored, manipulated, analysed and reported to those who need to use it. People need to become skilled manipulators and users of information to ensure organisations become more efficient and succeed in achieving their stated purposes. Since the development of the personal computer and more recently the internet...
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...Sharon Williams June 07, 2011 Business Research Methods Unit I and Unit II Assessment Question # (1): How might business research help the new president make the right decisions? Answer: Cooper & Schindler (2008) argues, “Although not all organizations use business research to help make planning decisions, increasingly the successful ones does.” (Cooper & Schindler, 2008) The authors further argue the fact that “The managers of tomorrow will need to know more than any managers in history.” (Cooper & Schindler 2008) This statement along introduce and sheds light into the present situation regarding the problem that the new president of the old established company is facing and he must make the best possible decisions to proceed further so that this company can go back to a profitable status. It is fair to say that all decisions related to business related matters are about problems of some sort, and decision processes are usually different from company to company. An important difficulty in a decision dilemma is failure to act until one is too close to the decision point—when sometimes information and options are greatly limited. Managers and/or organizations usually work or respond in a “reactive” mode. Problems are “found” only after the issue has begun to have a negative impact on the company, such as the case of the problem for the new president. He stated in the question scenario, that he felt the company was operating ...
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...Business Plan Definition A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals. Guidelines A business plan should conform to a generally accepted guideline regarding its form and contents. Each section should include specific elements and address relevant questions that the people reading this plan will most likely ask. Generally, a business plan has the following components: A. Title page and contents B. Executive summary C. Business description D. Business environment analysis E. SWOT analysis F. Description of the product or service G. Market analysis H. Marketing plan I. Competitive analysis J. Operations and management K. Financial components L. Supporting documents – attachments and milestones Typical addressed questions by the business plan: * What problem does the company's product or service solve? What niche will it fill? * What is the company's solution to the problem? * Who are the company's customers, and how will the company market and sell its products to them? * What is the size of the market for this solution? * What is the business model for the business (how will it make money)? * Who are the competitors and how will the company maintain a competitive advantage? * How...
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