A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered around the key concept that customer satisfaction is the main goal.
A marketing strategy is most effective when it is an integral component of firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in the market arena. Corporate strategies, corporate missions, and corporate goals. As the customer constitutes the source of a company's revenue, marketing strategy is closely linked with sales. A key component of marketing strategy is often to keep marketing in line with a company's overarching mission statement
A marketing strategy can serve as the foundation of a marketing plan. A marketing plan contains a set of specific actions required to successfully implement a marketing strategy. For example: "Use a low cost product to attract consumers. Once our organization, via our low cost product, has established a relationship with consumers, our organization will sell additional, higher-margin products and services that enhance the consumer's interaction with the low-cost product or service."A strategy consists of a well thought out series of tactics to make a marketing plan more effective. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives. Plans and objectives are generally tested for measurable results
Monday, April 27, 2009
Tobacco advertising
Tobacco advertising is the advertising of tobacco products or use (typically cigarette smoking) by the tobacco industry through a variety of media including sponsorship, particularly of sporting events. It is now one of the most highly-regulated forms of marketing. Some or all forms of tobacco advertising are banned in many countries.
The first known advertisement in the USA was for the snuff and tobacco products of P. Lorillard and Company and was placed in the New York daily paper in 1789. Local and regional newspapers were used because of the small-scale production and transportation of these goods. The first real brand name to become known on a bigger scale in the USA was "Bull Durham" which emerged in 1868, with the advertising placing the emphasis on how easy it was "to roll your own".
The development of color lithography in the late 1870s allowed the companies to create attractive images to better present their products. This led to the printing of pictures onto the cigarette cards, previously only used to stiffen the packaging but now turned into an early marketing concept.
By the last quarter of the c19 magazines such as Punch carried advertisements for different brands of cigarettes, snuff, and pipe tobacco. Advertising was significantly helped by the distribution of free or subsidised branded cigarettes to troops during World War I.
The first known advertisement in the USA was for the snuff and tobacco products of P. Lorillard and Company and was placed in the New York daily paper in 1789. Local and regional newspapers were used because of the small-scale production and transportation of these goods. The first real brand name to become known on a bigger scale in the USA was "Bull Durham" which emerged in 1868, with the advertising placing the emphasis on how easy it was "to roll your own".
The development of color lithography in the late 1870s allowed the companies to create attractive images to better present their products. This led to the printing of pictures onto the cigarette cards, previously only used to stiffen the packaging but now turned into an early marketing concept.
By the last quarter of the c19 magazines such as Punch carried advertisements for different brands of cigarettes, snuff, and pipe tobacco. Advertising was significantly helped by the distribution of free or subsidised branded cigarettes to troops during World War I.
Sales Promotion
Sales promotion is one of the four aspects of promotional mix. (The other three parts of the promotional mix are advertising, personal selling, and publicity/public relations.) Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability.
Sales promotions can be directed at either the customer, sales staff, or distribution channel members (such as retailers). Sales promotions targeted at the consumer are called consumer sales promotions. Sales promotions targeted at retailers and wholesale are called trade sales promotions. Some sale promotions, particularly ones with unusual methods, are considered gimmick by many.
Sales promotions have traditionally been heavily regulated in many advanced industrial nations, with the notable exception of the United States. For example, the United Kingdom formerly operated under a resale price maintenance regime in which manufacturers could legally dictate the minimum resale price for virtually all goods; this practice was abolished in 1964.
Most European countries also have controls on the scheduling and permissible types of sales promotions, as they are regarded in those countries as bordering upon unfair business practices. Germany is notorious for having the most strict regulations. Famous examples include the car wash that was barred from giving free car washes to regular customers and a baker who could not give a free cloth bag to customers who bought more than 10 rolls.
Sales promotions can be directed at either the customer, sales staff, or distribution channel members (such as retailers). Sales promotions targeted at the consumer are called consumer sales promotions. Sales promotions targeted at retailers and wholesale are called trade sales promotions. Some sale promotions, particularly ones with unusual methods, are considered gimmick by many.
Sales promotions have traditionally been heavily regulated in many advanced industrial nations, with the notable exception of the United States. For example, the United Kingdom formerly operated under a resale price maintenance regime in which manufacturers could legally dictate the minimum resale price for virtually all goods; this practice was abolished in 1964.
Most European countries also have controls on the scheduling and permissible types of sales promotions, as they are regarded in those countries as bordering upon unfair business practices. Germany is notorious for having the most strict regulations. Famous examples include the car wash that was barred from giving free car washes to regular customers and a baker who could not give a free cloth bag to customers who bought more than 10 rolls.
Direct Marketing
Direct marketing is a sub-discipline and type of marketing. There are two main definitional characteristics which distinguish it from other types of marketing. The first is that it attempts to send its messages directly to consumers, without the use of intervening media.
This involves commercial communication (direct mail, e-mail, telemarketing) with consumers or businesses, usually unsolicited. The second characteristic is that it is focused on driving purchases that can be attributed to a specific "call-to-action."
This aspect of direct marketing involves an emphasis on trackable, measurable positive (but not negative) responses from consumers (known simply as "response" in the industry) regardless of medium.
If the advertisement asks the prospect to take a specific action, for instance call a free phone number or visit a website, then the effort is considered to be direct response advertising.
This involves commercial communication (direct mail, e-mail, telemarketing) with consumers or businesses, usually unsolicited. The second characteristic is that it is focused on driving purchases that can be attributed to a specific "call-to-action."
This aspect of direct marketing involves an emphasis on trackable, measurable positive (but not negative) responses from consumers (known simply as "response" in the industry) regardless of medium.
If the advertisement asks the prospect to take a specific action, for instance call a free phone number or visit a website, then the effort is considered to be direct response advertising.
Project Management
Project management is the discipline of planning, organizing nd managing resources to bring about the successful completion of specific project goals and objectives.
A project is a finite endeavor (having specific start and completion dates) undertaken to create a unique product or service which brings about beneficial change or added value. This finite characteristic of projects stands in contrast to processes or operations, which are permanent or semi-permanent functional work to repetitively produce the same product or service. In practice, the management of these two systems is often found to be quite different, and as such requires the development of distinct technical skills and the adoption of separate management.
The primary challenge of project management is to achieve all of the project goals and objectives while honoring the project constraints.Typical constraints are scope, time and budget. The secondary—and more ambitious—challenge is to optimize the allocation and integration of inputs necessary to meet pre-defined objectives.
As a discipline, Project Management developed from different fields of application including construction, engineering and defense. In the United States, the two forefathers of project management are Henry Gantt, called the father of planning and control techniques who is famously known for his use of the Gantt chart as a project management tool, and Henri Fayol for his creation of the 6 management functions, which form the basis for the body of knowledge associated with project and program management.
A project is a finite endeavor (having specific start and completion dates) undertaken to create a unique product or service which brings about beneficial change or added value. This finite characteristic of projects stands in contrast to processes or operations, which are permanent or semi-permanent functional work to repetitively produce the same product or service. In practice, the management of these two systems is often found to be quite different, and as such requires the development of distinct technical skills and the adoption of separate management.
The primary challenge of project management is to achieve all of the project goals and objectives while honoring the project constraints.Typical constraints are scope, time and budget. The secondary—and more ambitious—challenge is to optimize the allocation and integration of inputs necessary to meet pre-defined objectives.
As a discipline, Project Management developed from different fields of application including construction, engineering and defense. In the United States, the two forefathers of project management are Henry Gantt, called the father of planning and control techniques who is famously known for his use of the Gantt chart as a project management tool, and Henri Fayol for his creation of the 6 management functions, which form the basis for the body of knowledge associated with project and program management.
Digital Marketing
Digital Marketing in a nutshell is promoting Brands using the Internet, Mobile and other Interactive channelsDigital Marketing is the practice of promoting products and services using digital distribution channels to reach consumers in a timely, relevant, personal and cost-effective manner.
Whilst digital marketing does include many of the techniques and practices contained within the category of Internet Marketing, it extends beyond this by including other channels with which to reach people that do not require the use of The Internet. As a result of this non-reliance on the Internet, the field of digital marketing includes a whole host of elements such as mobile phones, sms/mms, display / banner ads and digital outdoor.
Previously seen as a stand-alone service in its own right, it is frequently being seen as a domain that can and does cover most, if not all, of the more traditional marketing areas such as Direct Marketing by providing the same method of communicating with an audience but in a digital fashion.
Pull digital marketing technologies involve the user having to seek out and directly grab (or pull) the content via web search. Web site/blogs and streaming media (audio and video) are good examples of this. In each of these examples, users have a specific link (URL) to view the content.
Whilst digital marketing does include many of the techniques and practices contained within the category of Internet Marketing, it extends beyond this by including other channels with which to reach people that do not require the use of The Internet. As a result of this non-reliance on the Internet, the field of digital marketing includes a whole host of elements such as mobile phones, sms/mms, display / banner ads and digital outdoor.
Previously seen as a stand-alone service in its own right, it is frequently being seen as a domain that can and does cover most, if not all, of the more traditional marketing areas such as Direct Marketing by providing the same method of communicating with an audience but in a digital fashion.
Pull digital marketing technologies involve the user having to seek out and directly grab (or pull) the content via web search. Web site/blogs and streaming media (audio and video) are good examples of this. In each of these examples, users have a specific link (URL) to view the content.
Brand management
Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the product's perceived value to the customer and thereby increase brand franchise and brand equity. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with future purchases of the same product. This may increase sales by making a comparison with competing products more favorable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer.
This can result from a combination of increased sales and increased price, and/or reduced COGS (cost of goods sold), and/or reduced or more efficient marketing investment. All of these enhancements may improve the profitability of a brand, and thus, "Brand Managers" often carry line-management accountability for a brand's P&L profitability, in contrast to marketing staff manager roles, which are allocated budgets from above, to manage and execute. In this regard, Brand Management is often viewed in organizations as a broader and more strategic role than Marketing alone.
The annual list of the world’s most valuable brands, published by Interbrand and , indicates that the market value of companies often consists largely of brand equity. Research by McKinsey & Company, a global consulting firm, in 2000 suggested that strong, well-leveraged brands produce higher returns to shareholders than weaker, narrower brands. Taken together, this means that brands seriously impact shareholder value, which ultimately makes branding a CEO responsibility.
The discipline of brand management was started at Procter & Gamble PLC as a result of a famous memo by Neil H. McElroy.
This can result from a combination of increased sales and increased price, and/or reduced COGS (cost of goods sold), and/or reduced or more efficient marketing investment. All of these enhancements may improve the profitability of a brand, and thus, "Brand Managers" often carry line-management accountability for a brand's P&L profitability, in contrast to marketing staff manager roles, which are allocated budgets from above, to manage and execute. In this regard, Brand Management is often viewed in organizations as a broader and more strategic role than Marketing alone.
The annual list of the world’s most valuable brands, published by Interbrand and , indicates that the market value of companies often consists largely of brand equity. Research by McKinsey & Company, a global consulting firm, in 2000 suggested that strong, well-leveraged brands produce higher returns to shareholders than weaker, narrower brands. Taken together, this means that brands seriously impact shareholder value, which ultimately makes branding a CEO responsibility.
The discipline of brand management was started at Procter & Gamble PLC as a result of a famous memo by Neil H. McElroy.
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