kasunod

40問 • 1年前

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These. however. refer to qualities that can spell trouble for the organization. For example, financial crisis, faulty services being offered, management issues, etc.

Weaknesses

refers to outside elements that can be useful to the organization. Be it a shift in market trends or a decline in a comnatitor's natronage it is important to note them in the analysis so the organization can take advantage of them,

Opportunities

Competition, natural disaster, and economic declines are just some of the external factors that can be harmful to one's organization. By anticipating these Threats in the SWOT

Threats

According to _____, the SWOT Analysis guides you to identify your organization's strengths and weaknesses (S- W), as well as broader opportunities and threats (O - T)

Kansas University

Marketers must identify the following

1. Geographical characteristics 2. Demographical characteristics 3. Psychographic characteristics 4. Behavioral characteristics

market positioning strategies

1. Brand positioning strategy 2. Product positioning strategy 3. Competitive pricing strategy 4. Competitive positioning strategy }

is the process that turns marketing plans into action assignments and ensures that such assignments are executed in a manner that accomplishes the plan's stated objectives. While marketing strategies address the 'what' and 'why' of marketing activities, implementation addresses the 'who', 'where', 'when', and 'how'. (Kotler, 1997) Hence in impleme

Marketing Implementation

While marketing strategies address the ' of

what' and 'why'

marketing activities, implementation addresses the

'who', 'where', 'when', and 'how'. (Kotler, 1997)

marketers should clearly communicate the marketing plan to all divisions and staff. They should know and understand their roles in attaining the marketing goals.

Communication

marketers, must take the lead in implementation. In directing people, it is necessary to motivate them Motivation is the key to high neuf

Directions& Motivation

it is crucial to perform oversight in the implementation stage. It is the marketer's way of determining the implementation is in sync with the marketing plan.

Monitoring

-constantly marketers must review the monitoring results. If the plan is not working, the marketers must have alternative plans. That is why it is important for the marketers to develop a contingency plan. Making Masknat

Weighing Alternatives

is the process by which firms assess the effects of their marketing activities and programs and make necessary changes and adjustments. (Kotler, 1997). This ensures that everything is on the right track during implementation.

Marketing Control

The four types of marketing control namely,

Annual Plan xontrol, Profitability Control, Efficiency Control and Strategic Control.

is one of the most important business tools for any company to utilize. If you are looking for funding to start up a business, a bank will want to understand vour marketing plan. If you are looking for investment to take your business to the next level, and investor will want to see a marketing plan to understand how his money is going to generate a positive return. And if you are selling your business, your potential acquirers will want to understand both your marketing strategy and your marketing plan.

A Marketing Plan

helps you promote products and services in your business that meet the needs of your target market. It requires research, time and commitment, but is a very valuable process that can greatly contribute to your business success in the future.

A marketing plan

According to ______ a marketing plan is a blueprint for the activities related to communication of the messages about your products or services, or your business as general to your customers or potential customers.

MSP Marketing experts JumpFactor,

In other words, it is a ______that outlines all your marketing strategies, tactics, activities, costs, and projected results over a period of time. It is the detailed _______setting the necessary marketing actions that your business needs to take to achieve one or more marketing objectives. This plan contains various strategies formulated to achieve business growth and profit objectives.

detailed roadmap written document

The purpose of the marketing plan is to:

Coordinate your business goals, Define the market to create proper market segmentation, Define the marketing mix and Systematize activities about chosen marketing strategies.

With a good marketing plan, you can:

Follow up on marketing activities and see what is good and what is not good. Analyze your market and you will have solid knowledge about your target customers, market segments, your strengths, weakness, opportunities, and threats. Timely change your marketing strategies and tactics. Learn about the top marketing tactics of global brands. Know how you spend your marketing money. Know real ROI from your marketing money.

is the part of your marketing strategy that outlines the most important findings from your research. It is a summary of the entire marketing strategy. It offers a high-level overview of your overall brand objectives, marketing goals and marketing activities. Your executive summary is between 1-2 pages long. And you write the executive summary last, after completing all the other sections of your marketing strategy.

The executive summary

It outlines your most important goals, actions and research findings conclusions. It allows the reader to understand where your business is heading and how it is going to get there, quickly.

The executive summary

The market situation for a business includes analysis of the industry as a whole. In order to write an effective marketing plan, the business must be able to identify its competitors. The business should be able to point out the strengths, weaknesses, opportunities and threats of each of the main competitors. Identifying this will help the business recognize its own competitive advantage. This is an area where it is stronger or better able to serve the market than the competition. It is what will set it apart in the market.

II. Situational Analysis

An important element of the marketing plan is to identify the target market of the business. Many businesses make the mistake of identifying a market that is too broad, such as all residents within a 100-mile radius. The target market must be broken down; the marketing plan should identify potential customers based on certain parameters.

III. Target Market

Product Strategy: What are you offering to your target market? Pricing Strategy: How are going to price your offering? Place Distribution Strategy: How are you distributing your offering? Promotion Strategy: What marketing campaign will you use to promote your offering

IV. Marketing Mix Strategies

The final section of the marketing plan should provide an overview of the marketing budget. This should include any direct or indirect expenses that will be charged to the marketing department. This part of the plan should also include methods of measurement and timelines. This section may also include a weekly or monthly calendar that shows the promotions the business will implement

V. Marketing Budget and Timeline (Implementation & Control)

. This will be the operating fund for the first year detailed implementation program. Promptly after the first year, an evaluation will be conducted to assess the effectiveness of the marketing plan. The date from this review will then be used in starting the process again from Phase 2. This continuous cycle ensures that the areas for improvement will be covered while Caking advantage of the efficient strategies.

PHASE 4. Resource Allocation and Monitoring

Here, marketing objectives and strategies will be formulated. An estimated expected result will then be calculated based on the strategies developed from the previous step. To ensure that the market plan will not be interrupted. Alternative plans and mixes must be established. This way, should strategy A fail, strategy B would be ready for the next course of action. Under this phase, the marketers should identify the target market for the brand.

PHASE 3. STRATEGY FORMULATION

Antoine de Saint-Exupery once said that "A goal without a plan is just a wish". However, a plan without a clear goal just doesn't make sense. This is why the first step of the marketing planning strategy is setting the organizational mission followed by having a clear concept of corporate objectives. These two will serve as the market plan's marks of success.

PHASE 1. Goal Setting

deals with obejectively reviewing one current state on the organization through marketing audit and SWOT analysis

PHASE 2. Situation Review

The focus of this stage is on building the customer relationships. Companies should be able to build and manage lasting relationships with customers. This is where the concept of CRM falls, which was discussed in the earlier lessons.

STEP 4. Build profitable relationship and create customer value.

capturing value from customers using attaining the customer loyalty and retention. It is important to get the loyalty of the customer by a continuous buying of the brand.

STEP 5. Capture value from customers to profits and customer equity.

In this stage, the marketers must find out the things that would satisfy the needs and wants of the customers. Marketers must also get information on the market and the marketplace. keting strategy.

Step 1 Understand the marketplace and customer needs and wants.

In this stage, target marketing and segmentation are needed, Companies should make selection of the right segments of the market for their products.

STEP 2. Design a customer-driven marketing strategy.

In this stage, the companies will develop their marketing plan and programs. It is essential to design the marketing mix strategy carefully-product, price, distribution, and promotion.

STEP 3. Construct an integrated marketing program that delivers superior value.

Product Strategy:

What are you offering to your target market?

Pricing Strategy:

How are going to price your offering?

Place Distribution Strategy:

How are you distributing your offering?

Promotion Strategy:

What marketing campaign will you use to promote your offering

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Shekinah Bismonte · 58問 · 2年前

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