...HOW TO WRITE A MARKETING PLAN How to Write a Marketing Plan What is a Marketing Plan A marketing plan provides direction for your marketing activities. Marketing plans need not be long or cost a lot to put together. Think of it as a road map, with detailed directions on how to get to your destination. Sure there may be a few bumps in the road, perhaps a diversion or two, but if the marketing plan is carefully researched, thoughtfully considered and evaluated, it will help the organization achieve its goals. The marketing plan details what you want to accomplish with your marketing strategy and helps you meet your objectives. The marketing plan: • Allows the organization to look internally in order to fully understand the impact and results of past marketing decisions. • Allows the organization to look externally in order to fully understand the market in which it chooses to compete. • Sets future goals and provides direction for future marketing efforts that everyone in the organization should understand and support. • Is a key component in obtaining funding to pursue new initiatives. A marketing plan includes these elements: • • • • • • Summary and Introduction Marketing Objectives Situation Analysis Target Markets Strategies Tracking and Evaluation 1 How do I begin? Where do I start? Summary and Introduction Your marketing plan should start with an executive summary. The summary gives a quick overview of the main points of the plan...
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...Marketers engage the use of primary and secondary research tools to determine results of current and past information. The information acquired from the results of the inquiries defines the data in two different terms. Marketers dissect the information and categorize it in qualitative or quantitative terms. For marketing it is important to differentiate between primary and secondary research when using qualitative and quantitative approaches to use each one effectively and determine why. Primary Research Part of the marketing strategy implements research to determine results for the final goal. In a perfect world the information would be filed away and broken down in descriptive categories. When no established information has been provided researchers must turn to new collection processes. “When the researcher collects fresh data to meet the needs of research it is primary research. The tools of primary research include surveys, interviews, and observations. This is a direct method of carrying out research and so its tools are entirely different from that of secondary research” (Stewart, 1993, p.67). Primary research collects information from a variety of sources. Marketers use surveys, videos, laboratory testing, organizations records, and observations to gather information and relate it to data. Observations tend to be collected from focus groups, usually from the moderator. The moderator will conduct the group discussions on behalf of the organization and observe...
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...integrates back and front office to create a database of customer contacts, purchases, and technical support, among other things. This database helps the company in presenting a unified face to its customers, and improve the quality of the relationship, while enabling customers to manage some information on their own. The following section will attempt to analyze CRM as a computerized system in respect of its usage and importance for marketing purposes, as well as the advantages for businesses. The customer relationship management (CRM) incorporates the description of all procedures of a corporation towards its customers. The main objective of the CRM software is to support these processes and to store relevant information about the current and potential clients. The scope of CRM procedures involves all processes, which in some respect are connected to the following areas: • Cooperation with customers • Serving of existing clients • Reselling to existing clients • Researching potential consumers CRM softwares provide support in the field of marketing, sales, customer services and call centers. Their application became popular among big corporations, however due to technological developments and to price reductions originating from the severe...
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...Final Year Project on internet marketing ….is it there yet Project Guide: Prof. Kuldip Kawatra Project by Mr. Heemanish Midde Roll No.: 220 2007 - 2009 Xavier Institute of Management & Research, Mumbai Mumbai University DECLARATION I hereby declare that this report titled “Internet Marketing" is a record of independent work carried out by me as a part of Final Year Project for the MMS course of Mumbai University for the period starting from January 2009 to May 2009. The above project was performed under the guidance of Prof. Kuldip Kawatra. I declare that the information given in the above project is true to my knowledge. Dr. K. N. Vaidyanathan Director, Xavier Institute of Management & Research Mumbai University Heemanish Midde MMS Xavier Institute of Management & Research Mumbai University 2 ACKNOWLEDGEMENT The work on this project has been an inspiring, often exciting, sometimes challenging, but always an interesting experience. At the very outset, I wish to thank Mr. Kuldip Kawatra for giving me the opportunity to participate in this interesting research project, that helped me gain insights into the Internet World. He has supported me with his guidance, insights, encouragement and many a fruitful discussion on Internet Marketing. I am grateful to him to have spared his time and showing the patience to our answer our queries. The kindness shown by him, in spite of him being so busy with his work, is highly appreciated. I would also like...
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...be attracted to the product under normal circumstances. Promotional strategies can also increase sales through repetition. Promotional campaigns can cost a great deal of money and may not show immediate results. The promotional strategy is ideal for small to medium or even large companies with brand recognition. Examples of promotional strategy include scripted commercials, magazine advertisements, radio announcements, giving away coupons, printed information or free products/free sampling that inform the consumer about a product. It is also a mixed of advertising, promotion, personal selling and publicity for communication with its target market. Promotion constitutes the key tool that's used to deliver information about a product or service to consumers and the public at large. Deciding on a marketing communicable strategy constitutes as the first level in developing a promotional strategy. The process should include how to contact a business, who the consumer is, and what message needs to be delivered. Promotional strategy divides the market into different groups, deciding on which audience or group of people you want to target, understanding the target...
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...THE IMPACT THAT SOCIAL MEDIA HAS HAD ON MARKETING For the business market in the 21st century there is a need to reach a very large customer base, since many production companies have been introduced in the market. Innovative ways of reaching huge group members in the public have to be created. The need to satisfy market demand is fulfilled through the introduction of using social media such as; Facebook, Twitter, Google, snap marketing, YouTube in the marketing profession. Social media have basically acted as a substitute for the use of word of mouth as a business marketing tool. It has enabled companies to interact and to share their products and services to the consumers who are in need of the goods and services. Social media has provided a platform where the users of the social sites are able to research on the varieties of the products that they may require to use or have information about. Multiple of internet users has acquired information on the products and the retailers of the product online, which has made sales transactions easier It has enabled product users to create reviews and counter reviews on various products and enable other consumers to read the posted reviews on a product online and view the product rating by other consumers. The reviews and ratings have provided the brand ambassadors with the perfect platform to protect the brand through brand communication. It has also provided a platform for brand protection by the consumers who have felt a need for...
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...purpose of the study is to determine the effectiveness of social media as marketing tool for Small Medium Enterprise (SMEs) Companies in Malaysia. The objectives of the study are, first, to determine the level of influence social media on customer knowledge towards the Malaysian SMEs companies brand, products and services and second, to investigate the causes and effects of the usage social media as marketing strategies for SMEs companies in Malaysia. The study was conducted based on a quantitative approach. A set of questionnaire was distributed to 30 random respondents. In addition, the research pointed out that there are a lot of factors influencing the success of social media as a marketing strategy. The conclusion drawn from the research was that internal and external factors are affecting the effectiveness of social media as one of the marketing tools. One of the major limitations encountered in the research was time constraint. Future researchers are advised to conduct this research for a longer period of time in order to collect more data. Keywords: effectiveness, social media, SMEs in Malaysia, quantitative Introduction In today’s technology driven world, social media have become a venue where retailers most of them use it to expand their marketing strategies or campaign to acknowledge their existence in the market. Many retailers and companies believe the social marketing is the viral new marketing concepts in the industry and most of the co owner wants to know more...
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...Digital Marketing Tool MRKT 5000 Online Course Julia Huelsmann Twitter Emerges as a Digital Marketing Tool Case Summary: According to Twitter’s website, ‘Twitter is an information network that brings people closer to what’s important to them”. The company was started by Biz Stone and Evan Williams . The idea behind the business was to create podcasts, but very quickly it turned into more of social networking system we know today. Any user, whether individual using for personal purposes, or business can send out ‘tweets’ or short messages about any topic. Anyone who chooses to follow the user will have access to read all the ‘tweets’ from that user. Business can also ‘tweet’ on Twitter about their products. Not only can Twitter be used for marketing , but it can also be a tool for gathering marketing information through ‘listening’ to others who are ‘tweeting’ about the business, competition or the industry in general. Key Marketing Issues * Using Twitter marketing just to use it – Many companies are aware of the need to evolve its marketing strategies as the technology and social media evolve. Not all companies, though, understand how to use these social networking sites to really market their products. Companies need to ‘listen’ first and then implement a Twitter strategy. By ‘listening’, or paying attention to their consumers who are ‘tweeting’ or other companies in their respective industries, companies can develop better marketing strategies...
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...22 Social Media Marketing Management Tools By Lee Odden With every online marketing channel and discipline, there must be tools to make the task of marketing more efficient and effective. Social Media Marketing is no different. Over the past 6-9 months, I’ve been researching and reviewing a variety of social media management tools that help with everything from source network connections to campaign & social content management to monitoring & measurement. While there numerous tools that manage single platforms (like Twitter) this list includes services that manage multiple social network accounts, content and measurement. At some point we’ll do more with individual reviews, but in the meantime, here is a list of 22 different social media marketing management tools, platforms and services to help manage and scale your online marketing efforts on the social web: [pic] Shoutlet – Manages social media marketing communications with one platform for building, engaging and measuring social media. Includes multiple account and platform support, social CRM and ecommerce for Facebook, email marketing and mobile features. [pic] Direct Message Lab – Provides consulting, implementation and a platform (REACH) for centralized management of social media promotions & contests, advertising and measurement. [pic] Objective Marketer – Offers social media marketing and analytics with integrated campaign management (Twitter, Blogs, Facebook, YouTube), multi-channel execution, engagement reports...
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...Principles of mARKETING APPLIED RESEARCH (SOCIAL MEDIA AS A MARKETING TOOL AROUND THE WORLD) Professor Paul Ford Park University Internet Campus A course paper presented to the School for Arts and Sciences and Distance Learning in partial fulfillment of the requirements for the degree of Baccalaureate Principles of Marketing Park University January, 2014 This paper or presentation is my own work. Any assistance I received in its preparation is acknowledged within the paper or presentation, in accordance with Park University academic honesty policies. If I used data, ideas, words, diagrams, pictures, or other information from any source, I have cited the sources fully and completely in a citation within the paper and also listed on the reference page. This includes sources which I have quoted or that I have paraphrased. Furthermore, I certify that this paper or presentation was prepared by me specifically for this class and has not been submitted, in whole or in part, to any other class in this University or elsewhere, or used for any purpose other than satisfying the requirements of this class, except that I am allowed to submit the paper or presentation to a professional publication, peer reviewed journal, or professional conference. This is not a draft, and is submitted for grading to satisfy in part the requirements for this course and the program(s) in which I am enrolled. In typing my name following the word 'Signature', I intend that this certification will...
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...EG1413 Critical Thinking and Writing Assignment 2: Position Paper Social Media: An Unexplored Marketing Tool by local SMEs E12 Team Members: Anthoni Giam (A0085111U) Chen Ziyang (A0086387M) Ying Chuan Ong (A0074798H) 1. Background Small and Medium Enterprises (SMEs) have always been crucial for the case of Singapore and as seen from Figure 1, they make up about 99% of the enterprises in Singapore (Singstat, n.d.). SMEs here refer to businesses with annual sales turnover of not more than $100 million or employing no more than 200 staff (SPRING, 2011). Moreover, the importance of SMEs in Singapore’s economic landscape is highlighted by how SMEs “form an important pillar of the city-state's economy, employing 56 percent of workforce and contributing 42 percent of gross domestic product (GDP).” (People, 2007) If the SMEs lose their competitiveness, many workers in the SMEs can be adversely affected and even lose their jobs which could destabilize the society. This is also highlighted by Singapore's Deputy Prime Minister and Finance Minister, Tharman Shanmugaratnam who said that the transformation of Singapore's SMEs is also essential to the incomes and living standards for Singaporeans (TodayOnline, 2012). Note: Adapted from “Composition of Enterprise Size,” by Singstat (n.d.). Social media has a huge role in the marketing field today as it allows companies to interact with in a casual manner while publicizing the companies’ products. It is defined to be...
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...Letter of Transmittal December 10,2015 Dr. Mohammad Helal Uddin Course Instructor of – BUS 7203 BANGLADESH UNIVERSITY OF PROFESSIONALS (BUP) Mirpur Cantonment, Dhaka – 1216 Subject: Submission of report on Information Technology is the most important marketing tool for Modern Business organization. Dear Sir, Here is the report you asked to submit on Computer and its application in business. We are very happy to submit this report on time to you. In this report we have tried to provide as much information as we can about Information Technology and its importance in marketing. We have done the report according to your specification. We will always be available for any supplementary interpretation or clarification that you may require. We sincerely hope that this report will live up to your expectation. Thank you for your valuable time and cordial consideration. Sincerely yours On behalf of my group Objective of the study * To understand the importance of information technology. * The business implication of IT. * IT as a modern marketing tool for modern business organization. Information technology Information technology (IT) is the application of computers and telecommunications equipment to store, retrieve, transmit and manipulate data, often in the context of a business or other enterprise. The term is commonly used as a synonym for computers and computer networks, but it also encompasses other information distribution technologies such...
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...| A CRITICAL PERSPECTIVE ON STRATEGIC CSR AS A TOOL FOR MARKETING AND BRAND DIFFERENTIATION | | | Mattias Norén, Niklas Nygård | 2014-01-16 | | “What are the underlying reasons for abusive Strategic CSR in marketing and brand differentiation, what are the consequences and are there any solutions?” Introduction to CSR For Corporate social responsibility(CSR) a lot of different definitions exists but the one we chose to use in this report was defined by (McWilliams, Siegel och Wright)) as “actions that appear to further some social good, beyond the interests of the firm and that which is required by law”. This definition defines a wide concept that contains everything from corporate environmental strategies, employee empowerment, health and benefit plans for employees and corporate philanthropy. The linking factor between these different implementations is that corporations and businesses should expand their responsibility beyond absolute necessity and their core stakeholders group. While CSR is very modern as a defined concept it is still based on a lot of old ideas. For example many companies in the late 1800s based its business on scientific betterment which often meant that employee benefits was taken a lot further than the requirements of the law (Barley och Kunda). Today CSR has evolved to something more than the initial idea of expanded responsibility and it’s used as a tool for companies to reach goals outside of areas normally connected to CSR...
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...Executive Summary Black & Decker had always been a market leader in the power tools industry. Many changes took place that helped out in the company in the short run, but hurt in the long run. In 2000 Black and Decker Corporation was still reeling from the financial and strategic problems stemming from the company's acquisition of Emhart Corporation in 1989. In late 1998 Black & Decker management celebrated the completion of an almost decade-long effort to divest nonstrategic business gained through its 1989 acquisition of Emhart Corporation and expected the company to enter a long-awaited period of growth as its entire management refocused its attention on its core power tools, plumbing, and security hardware business. Archibald believed that "This portfolio restructuring will allow us to focus on core operations that can deliver dependable and superior operating and financial results." However the portfolio restructuring did little to improve the market performance of the company's securities. Yet Archibald and the management continued to express confidence that the company's streamline portfolio would allow Black & Decker to achieve revenue and earnings growth that the market would find impressive. So far the 1998 divestitures have not produced steady increases in the company's stock price, but look promising for the future due to the efforts to refocus efforts on the successful power tools line. Strategic planning team evaluation Over the years, Black & Decker...
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...extracted gas from underground wells. Electrical and Electronic. The E & E segment was Cooper’s largest in 1988, generating one-half of corporate sales and 57% of operating profits. Cooper had entered this segment with the 1981 purchase of Crouse-hinds. By 1988, E&E had four sub-segments, each representing quite diverse business, but all focused on the mature North American market that accounted for over 90 percent of segment sales. Commercial and industrial. In the commercial and industrial segmen Cooper participated in the non-powered handtool and window treatment business, and in the automotive aftermarket. In the Tool group, consolidation of acquisitions was completed and new manufacturing of acquisitions was completed and new manufacturing facilities constructed by 1988, and the company held the preeminent market position in most of its tool lines. Compression, drilling and energy equipment Compression and drilling segment had been Cooper’s largest in 1981, generating over 50% of revenues and over 60% of operating profit. However, the collapse of the energy industrgy in the early and mid-1980s caused sales of oil and natural gas equipment to fall preipitously. By 1988, this segment accounted for 21 percent of Cooper sales and less than 10 percent of income. II. List of Questions • What is...
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