Professional Documents
Culture Documents
Before doing anything else, your marketing leaders and stakeholders must sit down and define your
business’s mission, and the goals and objectives that will propel your strategic marketing.
If your company already has an established mission statement, congrats! You’re ahead of the game.
Your mission statement should touch and be incorporated into every move you make as a company,
and that definitely includes your marketing. If you don’t yet have a mission statement, now’s the
time to create one. It should explain why your organization exists, why it does business and how it
supports and benefits its customers. Some mission statements are aspirational and motivating, some
are more formal in their approach. Be sure that your mission statement matches the intent and
culture of your company.
Next, you should map out the goals and objectives that will become the spokes in the wheel that is
your marketing process. As you’re planning these elements, remember, be SMART about it: That
is to say, your goals should be:
• Specific.
• Measureable.
• Aspirational.
• Realistic.
• Time-bound.
With your mission statement, goals and objectives mapped out, it’s time to turn an eye outward to
see where your company lies in terms of the overall industry, as well as how it’s positioned with
current customers. This step includes two essential strategies: SWOT analysis, and a look into
market positioning.
• Strengths, or the things your company does well in comparison to its competitors.
• Weaknesses, or the factors that may hold your organization back from market success.
• Opportunities, including the external elements like trends that could create the potential for new
business or revenue streams.
• Threats, or the external factors (economical, political, technological, etc.) that might create
obstacles for your company.
Where SWOT focuses on internal factors and external market elements, positioning seeks to better
define the ways in which the brand is perceived in comparison to its competitors through the lens
of the customer. As Brafton’s own Dominick Sorrentino explained, brand positioning focuses on
creating a compelling brand identity that establishes a memorable impression for customers.
A high-end car dealership that wants to position itself as a seller of luxury vehicles, for example,
will look to use certain words and imagery in its marketing in order to craft a specific brand feel
among its target audience. It’s important to consider how your current and potential customers
perceive your company, and if there are any changes you should make in order to create your ideal
brand image.
Put in the effort ahead of time to plan out your mission, goals and objectives, as well as your place
in the market and the ways in which you’re perceived by customers. This will put you on the right
track to establish the actual tactics and campaigns you’ll use to propel your brand marketing.
During this stage, your marketing team should be sure to keep in mind your marketing mix, based
on the 4 Ps of marketing from E. J. McCarthy. While these were first created back in 1960, they’re
still very relevant today. They include:
• Product: The items or services your brand offers in response to customer wants and needs.
• Price: The cost of the product and the value provided to the customer.
• Promotion: The marketing efforts you use to support the product, including messaging specific to
your target audience.
• Place: Here’s where your distributed channels come into play. This P refers to the physical and
digital distributed channels that provide access to your promotional materials, marketing
messaging and enable sales.
Considering your distributed channels is an imperative step, particularly within the current
marketing landscape. Your situational analysis and positioning inform your product and
messaging, and your marketing team should also ensure that they select the right channel for
distribution according to:
With all the necessary planning in place, it’s time to put your tactics and process in action. This
step will see you and your marketing team:
1. Obtaining resources, including the required financial backing and subject matter experts, when
necessary.
2. Developing schedules for each tactic and campaign. Be as specific as possible with these tasks to
ensure they can be accomplished effectively.
3. Executing the process.
You did your due diligence, now it’s time to roll up your sleeves and get to work!
This phase is where many organizations make a critical misstep. It’s important to keep in mind that
your strategic marketing process will be an ongoing effort – you should continually look for places
to improve and enhance the plan.
Once you’ve executed your marketing strategies and tactics, it’s time to take a look back at your
defined goals and objectives, and the metrics you created along with those according to your
SMART planning. These will be crucial in helping you gauge the overall success of your efforts
according to your mission statement and goals.
• ADVERTISEMENTS:
• He tries to understand what customer wants to buy, when they are likely to buy, in what
quantity they will buy, what price they will be able to pay, etc. On the basis of this research
the product is designed. The marketer also conducts research to find out for what purpose
the customer is buying the product, whether the product is bought as a necessity or for style
for example, any kind of shoes will be preferred by the customer to protect his feet but a
branded pair is preferred for style. According to the research report the marketer designs
the label, brand name, packing, etc. The research of the product is also conducted to decide
the various promotional techniques of media to popularize the product.
• 2. Market Planning:
• After conducting marketing research, the marketer has to plan the steps necessary to achieve
marketing objectives under market planning. They make plan to increase production, plan
to increase sale, plan to use promotional tools etc.
• ADVERTISEMENTS:
• Grading means classifying the product on some bases. The bases of classification can be
size, quality etc. Grading is necessary when companies are not following strictly the
technique of standardization. Through grading marketer can get higher price for quality
product. Grading is generally used in agricultural products for example, wheat, rice, pulses,
etc.
• 6. Branding:
• Branding means giving a special name to the product. Companies may decide to sell the
product in company’s name or they may decide a special brand name for their products.
For example, Sony, BPL, etc. are using company’s name as brand names whereas Ariel,
Tide, etc. are special brand name selected by company. The brand name must be selected
very carefully as the customer’s loyalty depends upon the brand name.
• 8. Pricing of Products:
• ADVERTISEMENTS:
• Price means the money which a customer has to pay to buy a product or service. It is the
most crucial element of marketing as customer is highly price sensitive; a little variation in
price may take your customer to competitor’s product. Marketer keeps in mind various
factors such as objective of firm, demand competition etc.
• 11. Transportation:
• The goods are not necessarily consumed at the same place where these are produced. There
is a place gap between the production and consumption. To cover this place gap the
marketer makes use of various modes of transport so that goods can be transferred to
different corners of the country.
• ADVERTISEMENTS:
• It is not only that finished goods need to be transported but raw materials and various other
inputs are also transported from their place of origin to their place of use. The marketer
compares various modes of transport on various criteria and selects the best and most
suitable to transport raw materials, inputs and finished goods.
Purpose
The main purpose of this study is to create an awareness among the people how covid 19 is going
to affect the Indian economy. People should be aware of the problems that they are going to be
facing in the upcoming years. And we are focusing on the businessman, families, government etc.
The main reason for this kind of focus is that, as we know that covid 19 is spreading all over the
world. Even all thought that china has cured from covid 19 but alas, the no.of patients are increasing
day by day even after the cured. This is our prime focus. When too much people are affected by
this killing virus it will tremendously increase the no.of deaths of Indians. So we should be aware
of the things that is going to be happen. We can take a step together by forecasting our future. We
can quarantine ourselves in the safest places. Government should make use of this offer. Prepare
more isolation wards for the future. We offer flats and villas at a discounted rate for the peoples.
We are also focusing families and businessmen. This is the perfect time to make a purchase on real
estate. Because this is the perfect price where we offer a highly discounted price to people. The
coming economic recession will affect the entire economy. Do whatever you plans to do. In the
coming years this will not be the situation and we can’t offer at this price.
Since 2008 the real estate industry became a news topic because of the crisis in this industry.
Consequently, the real estate companies try to optimize their activities and services in a competitive
market. The internet is an excellent vehicle for creating and capturing value and has a tremendous
impact on the industry.
The utilization of the Internet in the real estate industry facilitates the transactions between the
different entities and improves the transparency of real estate activities. A large number of real
estate consumers have used online sites to search real estate listings and keep track of the real estate
market using online resources. We can mention for example these websites: Zillow, Redfin,
Realtor, YahooRealEstate, Trulia, Homes and ZipRealty.
Customers use the real estate sites to browse homes for sale, view property photos, virtual tours
and videos, research schools and neighborhoods, look-up home values and use mortgage
calculators.
Traditionally real estate brokers/agents have offered a full package of services to sellers and buyers,
including marketing the seller’s home or assisting the buyer’s search, holding open houses for
sellers and showing homes to buyers, preparing offers and assisting in negotiations, and
coordinating the steps to close the transaction.
In the traditional real estate industry, the buyer is responsible of the real estate agent services
charges and the purchase transaction cost. But today, buyers and sellers can use the Internet to list
and search for houses, potentially bypassing traditional real-estate agents.
The Internet and World Wide Web can disaggregate the above services. The Internet enables users
to search the real estate residential properties, and provides a list of property alternatives. It
provides information about real estate properties, their values, and neighborhoods. Internet enables
matching and negotiation of buyers and sellers. It may assist with property selection, and lender
search.
Communication: The ways sites enable site to user commendation or two way
communication
There are seven design elements – 7Cs – that should be considered when creating a website
intended for commerce and sales. Customers shop online for several reasons; the most important
are the convenience, cost, large selection and the allure of control over their purchases. Customers
can easily shop around from anywhere they have an Internet connection; this gives companies an
even greater imperative to create a website that will drive traffic to their website, appeal to their
target markets, and create a lasting experience that will create return customers.
• Context: A website’s layout and overall visual design needs to be uncluttered, easy to
read and navigate, the color scheme needs to be appropriate for the marketing design.
Having some white space will also aid in the overall design and readability.
• Commerce: If the website is intended for commercial transactions, then it has to be
safe and the fact that is has been made safe must be communicated to the customer,
most websites use a "lock" symbol in the corner to indicate that it has been encrypted.
• Connection: Any links that lead the customer away from the website.
• Communication: How the company talks to its customers ; this can be done through
signing up for special offers, email newsletters, contests, surveys, live chat with
company representatives, and company contact information.
• Content: The text, graphics, sound, music, and/or videos that are presented.
• Community: The website may allow interaction between customers through message
boards and live chat.
• Customization: Companies can allow customers to personalize aspects of the website
or it may tailor itself to different users, for example having different colors and graphics
for people who speak different languages.
The Success of Your Cross-sell / Upsell Strategy Relies on Customer Data. Cross-selling and
upselling are traditional merchandising strategies employed by retail and eCommerce marketers.
These strategies are intended to increase ‘share of wallet,’ an industry term used to indicate the
percentage of total spending that a shopper will spend on one specific brand. In today’s competitive
business climate, retailers are actively competing for the consumer’s share of wallet, strategizing
ways to woo shoppers away from their competitors.
• Cross-selling: suggesting an additional item to accompany one under
consideration
• Upselling: suggesting a superior model for a product under consideration
Analyse & segment your customers
Before an analysis of customers for cross selling can be done, the dataset must first be divided into
segments or cohorts, based along shared attributes, such as average spend, age, location or gender.
To successfully segment a dataset requires detailed data mining techniques to correctly decide how
and where the segments should be created. Once created, cohort analysis enables the organisation
not only to view which customers might buy more, but also to understand what the might buy, and
when.
Understating these basic facts about your segments will allow you to begin to test and implement
changes to increase any segment’s value.
Submitted by
Tina chacko
MBA marketing
Fit18mba117