Marketing communications (marcom) include customer-facing materials such as brochures, press releases, Web sites, and trade show presentations. The proximity of marcom planning to the customer makes it one of the most important activities that a company undertakes. Thoughtfully written marcom plans: * Keep your company speaking with one voice across a vast number of products, regions, and customer interactions. * Enable diverse teams of people to create integrated communications vehicles. * Help your messages rise above the din of the marketplace and consistently resonate with their target audiences. * Give you better results for your expenditures of time and money. First you study, then you decide Marcom plans are the confluence of substantial research and shrewd decision-making. Build effectiveness by thoroughly understanding your: * Target audience profiles Who are your existing and potential customers? What is the best way to communicate with them? * Buying, selling, and communications processes How do your customers prefer to buy? How are you set up to sell? What communications best facilitate buying and selling? Armed with a solid understanding of the terrain, you then need to make a number of decisions: * Objectives What do you want to happen as a result of your marcom activities? What customer behaviors do you hope to inspire? * Messages What do you want customers to know? * Vehicles Which communication vehicles best convey your messages? * Budget and schedule How much do these vehicles cost to develop? What is your budget? When should the vehicles be released? You also need to decide the scope of the plan. Marcom plans can be focused at the product level, the product line level, or the company level (for example, company or brand image) — or any combination of the three. The higher the focus, the less specific the elements of the plan. See the following table for more detail. Focus of the marcom plan Target audience profiling Know your customer applies to virtually every marketing activity, and it's doubly true for marcom planning. First, learn about your target audience's specific demographics and psychographics, and then take the time to understand: * How customers prefer to receive information about your type of offerings.
Figure out the typical customers is the first marketing strategy. Business should find the right customers who would by your product and tailor and focus its marketing effort toward them. Thus, this target market represents the group of customer offering greatest opportunity.
(Yoder-Wise, 2015) During the process of planning you need to assess your internal and external environment, identify any opportunities and threats. Then you want to create your plan and identify your goals and objectives, implement the plan and lastly you evaluate and make any necessary changes. In strategic marketing, you want to identify your target market and research it. When planning you identify your strategies and objectives you identify what services you will provide and at what cost an how you’re going to market your plan. You can evaluate by getting feedback from consumers through different
Divide your target market into segments. Address how the markets will be segmented and how the CRM will allow you to retain your segmented markets.
There are a range of segmentations that allows a company to target potential customers effectively.
market is a set of buyers sharing common needs or characteristics that the company decides to serve (Bethel, 2007). When identifying the target market it is important to know who buys your product and who your customers are. Smart targeting benefits the consumer as well as the company. It allows the company to be more efficient and effective by focusing effort toward that segment; therefore maintaining the most profitable outcome. The consumer is rewarded by receiving the product or service that is customized for them.
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.
The increasing process of globalization, coupled with an organization seeking to satisfy the needs of consumers globally, contributes significantly in embracing technology in the marketing process. In addition the marketing strategies are inclined towards reaching not only the targeted segment, but also potential customer that can be captured based on the market forecast of the firm. Therefore, integrating various tools of communication as well as platform of reaching out to a wide range of audience has been embraced by corporate globally. Notably, effective communication is vital in the marketing process (Percy, 2008). On the other hand, reaching out to a wide range of customers or audience in the advertising process in significant important. From this perspective organization can utilize both effective communication and a contemporary platform to reach to a wide range of
Marketing involves activities to find right people for the business and then gaining their attention and retaining them for life. There are many theories marketers employed to stand their business out of crowd or at least make it visible. To make any business efficiency and effective, it is important to seek the target customer market. There are primarily three main areas to consider while identifying the target market. Those are as follows;
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.
Once segments of customers have been defined, marketers need to select and evaluate which segments will be worth targeting. Cui and Choudhury (2003) define market targeting as marketing a product to a segment of customers due to the magnetism, for example size or growth, of the group. Marketers are able to select segments using undifferentiated, differentiated and concentrated marketing. By ignoring segment differences ...
...rketing plan that will form the basis of all your marketing activities. Today, there are literally dozens of ways you can communicate your
Marketing communications is the best way to appreciate the value of the goods and services offering by organization. Traditional tools of marketing communication disciplines are five: advertising, sales promotion, personal selling (see the EBS Sales Force Management text), public relations and direct marketing. There are also media in which time and space can be bought or used to deliver messages to target audiences. Organisations are planning which appropriate mix of these tools and the choice of media has for a long time been largely predictable.
When analyzing an organization’s target market, the first step is to understand the business and what they hope to achieve through their marketing strategies. Targeting and positioning strategies consist of analyzing and identifying segments within a given product-market, choosing which segment or segments to target, and developing and implementing a positioning strategy for each targeted segment (Cravens & Piercy, 2009). The company’s target market determines what customer group or groups the company wants to serve (Cravens & Piercy, 2009). Analyzing IKEA’s target market allows the company to determine if their marketing strategies have successfully targeted their intended customer group or groups. Discussing the company’s positioning strategy helps determine if the strategy is effective or if the company must make improvements strengthen their positioning strategy. The company must determine if their targeting and positioning strategies may be lacking. If the company’s targeting and positioning strategies are lacking, the company must determine what they must do to strengthen their targeting and positioning strategies.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.
As Peter Duckers has put it, "The ultimate aim of all business organisation is - to create a customer". These days, for most products and services, the market belongs to the buyer. The customers e...