A major purpose of the marketing plan is to set the company on a specific course

Question

A major purpose of the marketing plan is to set the company on a specific course in marketing. Marketing planning is the systematic process of assessing marketing opportunities and resources, determining marketing objectives, defining marketing strategies, and establishing guidelines for implementation and control of the marketing program. The outcome of planning is a written document that outlines the activities and objectives necessary to implement marketing strategies successfully – a marketing plan. The marketing plan provides a framework to stimulate thinking and provide strategic direction. The attached Sample Market Plan document contains all the information we have learned from this class as of today.

Choose a product or service of your own interest, discuss different digital media and the pros and cons of using each as part of your marketing plan. Make sure to list the different digital media mentioned in the text (social networks, blogs, wikis, apps, video and photo sharing, virtual realities, podcasting, and widgets). Provide the details of your marketing activities from each of these channels, and evaluate the effectiveness of the product, pricing, distribution and promotion strategies.

Please note: most marketers conduct a complete market research as shown in the attached Sample Market Plan. I do NOT expect you to do the same in this exercise. However, your essay should contain the basic analysis of target market, marketing strategy and performance evaluation.

appendix B Sample Marketing Plan This sample marketing plan for a hypothetical company illustrates how the marketing plan ning process described in Chapter 2 might be implemented. If you are asked to create a mar keting plan, this model may be a help?ul guide, along with the concepts in Chapter 2. Star Software Inc. Marketing Plan I. EXECUTIVE SUMMARY The Execulive Suinmary, one of the most frequently read components of a marketing plan, is a synopsis of the mar- kating plan. Although it doas not provide detailed information, it does present an overview of the Star Software Tnc. is a small, family-owned corporation in the first ycar of a transition from first-generation to second-generati programs and related items to about 400 businesses, which use the software mainly for promotion, As Star's business is highly seasonal, its 18 employees face scheduling challenges, with greatest demand during October, November, and December. In other months, the equipment and staff are sometimes idle. A major challenge facing Star Software is how to increase profits and make better use of its resources during the off-season. issues pertaining to their roles in processes. Athough this is the first section in a marketing plan it is usually iwritten last. An evaluation of the company's internal strengths and weaknesses and external oppor tunities and threats served as the foundation for this strategic analysis and marketing plan. The plan focuses on the company's growth strategy, suggesting ways it can build on existing customer relationships, and on the development of new products and/or services targeted to specific customer niches. Because Star Software markets a product used pr marily as a promotional tool by its clients, t is currently considered a business-to-business II. ENVIRONMENTAL ANALYSIS The Environmental Analysis presents information regarding the organization's current situation with respect to the marketing environment, the Founded as a commercial printing company. Star Software Inc. has evolved into a marketer of high-quality, custom-made calendar software and related business-to-business specialty items. In the mid-1960s, Bob McLemore purchased the company and, through his full time commitment, turned it into a very successful family-run operation. In the near future, McLemore's 37-year-old son, Jonathan, will take ove? as Star Softwares president and allow the elder McLemore to scale back his involvement firm's current marketing objec- A. The Marketing Environment 3 This section of the envi ronmental analysis considers I. Competitive forces. The competition in the specialty advertising industry is very strong on a local and regional basis but somewhat weak nationally. Sales figures for the industry as a whole are difficult to obtain because very little business is conducted on a economic, political, legal and regulatory, technological, and sociocultural forces. The competiion within the calendar industry is strong in the paper segment and weak in the software-based segment. Currently, paper calendars hold a dominant market share of approximately 65 percent; however, the software-based segment is growing rapidly The 35 percent market share held by software-based calendars is divided among many

Explanation / Answer

Think of your marketing plan as a roadmap. Your marketing plan outlines specific actions that you will take to market your product or service potential customers. These actions work to persuade these potential customers to purchase your products or services.

Take a example of a Institute which offer courses such as Digital Marketing, .Net, Java, Advance Java and so on..

In order to get in the admissions that institute should market itself and do branding in such a way that students should be well aware of what all offerings the institute have to offer.

The Institute should be very much active on the different platform over internet such as (social networks, blogs, wikis, apps, video and photo sharing, virtual realities, podcasting, and widgets). Lets understand each platform in detail.

Social Networks: Social media platform is the best platform to get in the business enquiry as you can get your target audience from it. Ranging from demograohics to behaviour of the audience.

Blogs: Blogs can be useful as a part of content and information on the different topics which inturn can help the website to rank better on the search engine.

Wikis: Wikis are basically used to fetch the detail understanding and information on the company or a product.

Apps: Apps are necessary in the service industry it is basically handy and user can get the detail information in no time.

Videos and Photo Sharing: Sharing Videos and Photos of the achievement builds a trust and confidence in the mind of the customers.

Though this a soft marketing techniques but are very useful in getting the business on board.one just have to keep three points in mind and do the basic analysis of target market, marketing strategy and performance evaluation.

Target Market: One should know where your product or services are going to sell and accordingly target the market based on Age, Gender and Interest.

Marketing Strategy: Marketing Strategy is based on the need of the market and the situation.

Performance Evaluation: Performance evluation can be don based on the traffic on the website or the leads generated or the convertion happen through the online campaign. Performance evaluation is necessary it shows the actual statistics and help the marketer to analyse the pain areas.

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