Tuesday, December 10, 2019
Proposed Marketing Activities Free Samples â⬠MyAssignmenthelp.com
Question: Discuss about the Proposed Marketing Activities And Strategies. Answer: Specific strategies for mentoring and coaching of staff throughout the period of the proposed marketing activities To accomplish the ultimate objectives of the companies, the following strategies needs to be undertaken Setting the goals of the activities the specific goals in this case are increase the number of leads, subscribers by 30%. Implementing new sub plans the implementing the plans of the companies with the help subordinate plans like improving the attitude of the company personnel, increasing the interactive sessions among the staff of the company (Gatautis and Vitkauskaite, 2014) Proving feedback the feedbacks should be provided periodically. The main cultivation of this process is to focus on the competency of each individuals and correcting the mistakes (Ismail and Ismail 2017.) Models for assessing use of resources provided to attain required marketing outcomes To assess the outcome of the proposed strategies, the following outcomes needs to be recognised and compared with the past data. The internal resources used must be efficient and effective in nature (Gatautis and Vitkauskaite 2014). The external environmental factors must be taken into consideration in this matter. Number of customers increased Increase in sales Market return on investments Profitability Customer acquisition ration to customer lead (Chen 2015) Themarketing key performance indicators for a digitalised markets are Cost per click to measure and compare digital activities Cost per thousand exposure to determine and evaluate the exposure Click through rate to compare the effectiveness, materials and venues Revenue per attendee to consider the multiple customers of the company Conversion rate to gauge the impressions of the company (Ekman 2015) A model and mechanism for providing feedback to staff throughout the process The employee feedback system is most important part of for the organisation to achieve its goals. This process should be well thought through process. The management feedback system should be in the form of praised as well as be filled with constructive guidance. It should be measurable and valuable for the employees (Ismail and Ismail 2017). The mechanism that can be used in this area is closed loop feedback system. Experience of the employees should be identified. The employers experience must be focused on the issues (Gatautis and Vitkauskaite, 2014). This is critical issue to be considered. Employees survey feedback system. The emails, short interaction and net promoter are used in this feedback process. Fixing, learning and listening to the problems that the employees are facing and acting upon it is one of the most important part of the feedback process (Hopkins et al. 2014). The action, reaction and modifier model can be used in this process Sharing the feedbacks got from the people in the organisation can also be used to improvise the system. Identifying a process to be used in checking the performance of the team as well as the individual To gauge themarketing performance the individual performance indicators and team performance indicators must be used. As discussed above the team performance indicators are Leadership (Gatautis and Vitkauskaite, 2014) Process Productivity Empowerment Leadership Adaptability (Ekman 2015) This are to be measured in gauging the performance of the team. Method of one-on-one coaching to people that have been highlighted in the case As being on the public relation department of the company, Marie have been identified to have the talent, knowledge and skills required for the position. Therefore, the one on one sessions would include the six questions. The objective of the individual about his work, in this case Maries goals aligned with the company goal. The overall contribution and key suggestions of improvements and other things that would need to be done in this one on one sessions with Marie. To increase the confidence level and empower, some power or information should be shared, which would empower her (Ekman 2015). A constructive suggestions on the soft skill development can be shared with examples. To increase her real world experience the can be done by involving her in real life scenarios and making her resolve situations. As Marie helps is public relations and wants to expand her skills in marketing activities, she can increase by getting training from particular experts or by online educational servic es provided by different centres. The updated performance information of Marie is good but the performance of Tony is average. The apt of Mari in marketing is satisfactory and she is good in the work she does. Therefore, to involve them further in the process of marketing can be effective (Sano, 2014). The corrective action would be to guide Mari further in this process. As for Tony the best corrective action would be to involve him more in the online and website activity. Thus, his performance may improve. The estimated market sales for the company is 21996000 $ (52*15*28200). The industrys estimated annual return is 199,000000 $. Therefore the market share of the company 11.05 % for the company. Which was initially targeted at 12 % growth in market share. The return on investments for marketing is approximately at the ration of 2: 1 [3520*15*27 440,000(incremental change)] / 440,000(market cost) As from the case it can be said that though the company is catching up with the growth because the industry is growing because of immigration in Brisbane the company has yet to achieve a healthy market return ratio. The analysis of the market return on investment says the company needs to be efficient in their spending (Ekman 2015). The online activities should speed up the process of sell as this is most reasonable way of marketing to cut back the expenses of company. Other strategies that can be suggested are, as the company is in the growth period of industry life cycle building a strong value proposition is also suggested as it can push the sales, defining the key performance indicators and verifying the source of the companys revenue stream and being more focus on that can also be suggested (Ismail and Ismail 2017). As from the case, it is clear that though the growth increased by 8.5% the company did not reached its target market share of 12%. Though the gap is less it should also be suggested to increase the volume sales, which can speed up the process. The performance indicators therefore, suggests that the marketing activity of the company is not sufficient. The online visibility should increase with the lead generation. Another KPI, which is the ratio of market return is also not healthy as the return ratio should at least be 5:1 OR 3: 1. Therefore, the incremental value of return should also be increased. The cause of the company to gain growth in the marketing strategy is the industry is getting sudden push of increase in the concentration of the immigration. To capitalise in this, the organisation can use marketing tunnel vision for increase productivity based on prediction from the tunnel vision. As the industry is showing 10% growth, the companys growth or return percentage should be greater than 10 %. Therefore, the 15% increase in the ROMI can be achieved. The organisation has achieved 11% growth. Therefore, it can be said that a target of 28,400 (24680*1.5) can be set as the target for the next 12 months to achieve the overall target of 15 % target market share. For market return on investments a healthy target of 5:1 ratio of return on investment with 15% market share can be set as a target. To also eliminate the negative effects of pushing market share and customer issues, the after sales service should be incorporated in the plans. References Chen, H.Y., 2015.Intention to participate in engagement marketing activities in social media(Doctoral dissertation, Guangdong: Sun Yat-sen University Information Management). Ekman, P., Erixon, C. and Thilenius, P., 2015. Information technology utilization for industrial marketing activities: the ITmarketing gap.Journal of Business Industrial Marketing,30(8), pp.926-938. Gatautis, R. and Vitkauskaite, E., 2014. Crowdsourcing application in marketing activities.Procedia-Social and Behavioral Sciences,110, pp.1243-1250. Hopkins, C., Wood, C., Siemens, J. and Anne Raymond, M., 2014. A multi-method investigation of consumer response to marketing activities during life transitions.Journal of Consumer Marketing,31(1), pp.39-53. Ismail, A.R. and Ismail, A.R., 2017. The influence of perceived social media marketing activities on brand loyalty: The mediation effect of brand and value consciousness.Asia Pacific Journal of Marketing and Logistics,29(1), pp.129-144. Sano, K., 2014. Do social media marketing activities enhance customer satisfaction, promote positive WOM and affect behavior intention?: an investigation into the effects of social media on the tourism industry. 66(3), pp.491-515.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.