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Developing marketing strategies and planning
Marketing strategy recommendation
Developing marketing strategies and planning
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The mission of our marketing plan is to attract and maintain customers and provide outstanding service to emerging companies to obtain a client base. Our excellent services will exceed the expectation of our esteemed customers and hence achieving client base.
We shall be guided by three marketing objective. The first objective is to keep on maintaining, positive and steady growth of our business activities. The second objective is to positively increase the number of our frequent customers in every quarter of the year and to decrease customer acquisition costs yearly. Our financial objectives are; to get profits by the end of every year. To increase the number of accountants yearly and to decrease operating cost every year while increasing profit.
Our target markets are the following groups; students, professionals and greater percentage of youths. The target market is significantly huge. Reaching such huge market will mean that our company will have to employ a number of strategies. It should be noted that a viable and good marketing strategy should be cost effective and should be able to reach all the targeted segments or customers. However, one of the challenge that our company will face is that the targeted customers comes from across the globe. This means that it may not be easy for our company to conduct target marketing. Nevertheless, the company can carry out what is called segmentation.
As far as market segmentation is concerned, it should be noted that contemporary consumers have change their preferences towards products. As a result, the marketers need to focus on fuller, more lifelike strategies in developing their marketing programs. One way of achieving this is through what is called psychographic segmentation. This...
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...lative to other executive placement services. We will try to distribute our services to all our customers. We will rely on an advertising campaign and strategic networking to raise awareness and build brand equity. Try to provide good customer services.
Product is another key element of marketing mix we shall consider. We shall describe our products in terms of attributes such as quality level, taste, size, efficiency in use, brand, and also styling. In researching marketing we will base on interviews and questionnaires like in Minneapolis where Dan interviewed the COO. This will provide our executive team valuable information about our business.
In conclusion, if the entire above marketing plan is implemented, the business will obtain a client base. As results of this there will be high projected cost, revenues will increase and there will be supernormal profits.
Besides marketing its customer service, the company markets different programs according to its three major types of customers. Some of them being,
This situation seemed interesting to Vanguard because of the exponential increase in the number of potential clients, whom Vanguard doesn’t have to directly advise and serve about their products and services, combined with the high potential for profitability. The development of this broad qualified sales force could also be done at relatively low development cost. The positive aspects of this alternative are somehow strongly counterbalanced by the fact that huge efforts of mass advertising would be required in order to inform the potential customers about Vanguard’s brand, and over whom Vanguard would have no control in the sale process. Vanguard would also have to face some strong competition in its relationship with the intermediaries, who are not always the most loyal sales representatives.
Segmentation is the process of identifying different macro-groups of customers (i.e. segments) based on their common characteristics. The process of choosing a target segment, on which to focus marketing activities on, is a process named targeting.
... look out for high profile contacts and good image building activities especially due to the on going outsourcing concern. As community theatre boards include executive level staff these consulting companies could get high visibility and a sophisticated image by pairing up with something as ?cultured? as theatre. These companies can be requested by the boards of community theaters to sponsor the building and maintenance of the theatre websites in exchange for good PR and contacts.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Terrell, E. (n.d.). Market Segmentation. (Business Reference Services, Library of Congress). Retrieved April 6, 2014, from http://www.loc.gov/rr/business/marketing/
A marketer doesn’t just have a plan. Marketers now open up to a wider strategic plan and it’s based on steps that balance out what the market is offering consumers. These marketers must analyze their production with these steps, then make a portfolio of the growth and even their down falls therefore this keeps these marketers to continuously innovate and create even a greater amount of value for their customers. Marketing management functions are discussed along with the marketing mix and strategy.
It has been observed since the inception of Marketing that marketers target to only specific market and how they identify such market. There are certain criteria or base they use to identify the consumers who they would be serving to. Customers do have unique requirements satisfaction levels and aspirations. Some customers however are similar with respect to their requirements of goods and services. In such case if their needs are identified and they can be grouped in quantities of a specific size then it can be segmented. Now each customer group have specific expectations and businesses must cater to the needs of the segmented that has been targeted.
Once a business has successfully completed segmentation based on the market into various groups the targets will be chosen. As we all know no one unique strategy will be able to appeal to all consumer segments therefore being able to come up with different strategies for specific targets are a vital aspect of marketing.
Caroline and Jennifer said that ‘Market segmentation is a crucial marketing strategy. Its aim is to identify and delineate market segments or set of buyers which would then become targets for the company’s marketing plans.’ (Tynan and Drayton, 1987) There are many ways to segment the market, such as age, region, environment, psychology and wages (Hall, Jones and Raffo, 2010).
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
Volterman’s product is unable to meet the need of people from all age group so they need to use market segmentation to meet the customer requirement with the common needs and characteristics. (3) Volterman organization are able to determine exactly who is their targeted market such as
The mission of the company is to accomplish the customer needs using distinguished and best solutions and by this being eminence among other companies in the same industry. Albassami consider the customer needs the most as a very important factor to succeed...
When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.
According to this, it is obvious that the objective of marketing is to satisfy demand of customers by those ‘individual and organizational activities’ like promotion or pricing of goods, which are all just means to achieve that. Additionally, organizations could stand out from their competitors once they meet the needs of customers better than others. Thus, it can be said that the successful marketing is to provide competitive advantages for organizations by doing better in satisfying customers’ desires through products and other marketing activities.