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Marketing planning is done by the marketing department. Look up for what influences the industry, who the leaders are, the industry’s weaknesses and strengths, if it’s either shrinking or growing, where it makes more profit, etc. It helps in achieving objectives. E-Marketing Presented by: Paulo Sambo Bakhtyar Tajzada Salman Muhammad Omary 2. As advertising can be costly, your marketing budget should only consider the requirements of your current marketing goals. The marketing planning (concretized in the marketing plan) is an essential organizational activity, considering the hostile and complex competitive business environment. Economic and Cost Effective. 4. It helps in avoiding future uncertainties. Benefits of making your brand more authentic online: attract the right employees to your business find the right marketing initiatives distinguish your unique selling point (USP) better Improve the effectiveness of your brand’s marketing message to your customers and your business partners Strategic marketing planning is considered a creative process in its own right. A marketing plan promotes a comprehensive view of the business firm and acts as a process of communication and co-ordination between marketing department and other departments. Its future should not be left to chance. This will allow you to find out if there are enough customers to sell your service or product to, which may prevent resource wasting. Planning is concerned with two things: (ii) Reducing frequency of failure to exploit opportunities. It helps in coordination and communication among the departments. Now that you know what is a marketing plan and what it can help you to do, it’s time to see how to write a marketing strategy that’s efficient and improves your business sales. It forces management to reflect upon the future in a systematic way. 1. Importance of a Marketing Plan. The level of demand for online products or services can be easily underestimated... 3. One of the common uses of artificial intelligence is social media, which enables you to boost your reach easily. As the internet is more involving in life, the demand of customers is … 6. E- Marketing Plan. It’s important to divide your target market into segments and evaluate them. The marketing plan also builds confidence with financial institutions, showing lenders that your business has a good chance of being successful. Every company must look ahead and determine where it wants to go and how to get there. Objective #1: Increase revenue The primary goal of any marketing strategy is ultimately to increase revenue, and Internet marketing is no exception. The importance of your marketing plan Your marketing plan should be at the top of your ‘to do’ list. It helps in coordination and communication among the departments. So, what needs to be included in a marketing plan? Assess how the firm can achieve competitive advantage through resource management and … Only by changing and improving your strategies is how you’ll be able to reach your business goals. Marketing planning is a systematic and disciplined exercise to formulate marketing strategies. Check out these 9 reasons why you really do need it. You need a vision. We can say that it uses different technologies and media to connect customers and businesses. So, we have overcome one of the most important difficulties in e-marketing which is the long distance difficulty. Through primary research, you’ll talk directly to the customer and collect surveys and interviews, while secondary research will allow you to use evidence that has been gathered in the past, such as statistics and reports. Business firms have to master the environment and score over their competitors. This plan involves concepts such as … Being part and parcel of the over-all management, the marketing executives are deeply involved in the process of planning. Marketing planning is a forward-looking and dynamic process designed to promote market- oriented or consumer-oriented business actions. Marketing planning is a programme of marketing-based actions regarding the future with the object of minimizing risk and uncertainty and producing a set of interrelated decisions. 6 Reasons Why Email Marketing Is Important For Your Internet Marketing 1. Setting a marketing budget is vital for your business. Most important, we must always offer consumers-products of quality and value, for this is the one need that will not change.”. This way you can reach a broader market and increase the chances of engaging with new customers. Keep in mind the world is constantly changing and your marketing plans should be doing it too. E marketing 1. Analyze your business and discover how it can improve, what you’re already excellent at, and what is what other businesses do and you can improve. Market analysis, market projection, consumer behaviour analysis and marketing-guided conclusions are based on data and measurements drawn from internal and external environments. Marketing decisions have long term effects on efficiency, profitability and market standing of the firm. Planning is a process of deciding in advance what to do and how to do it. Planning is basically a decision-making process. if(window.strchfSettings === undefined) window.strchfSettings = {}; window.strchfSettings.stats = {url: "https://soderman-seo.storychief.io/importance-of-a-marketing-plan?id=230527574&type=2",title: "Importance of a Marketing Plan",id: "ac242224-cd1a-49f8-8da6-ea1bf8adcde2"}; (function(d, s, id) { var js, sjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) {window.strchf.update(); return;} js = d.createElement(s); js.id = id; js.src = "https://d37oebn0w9ir6a.cloudfront.net/scripts/v0/strchf.js"; js.async = true; sjs.parentNode.insertBefore(js, sjs); }(document, 'script', 'storychief-jssdk')). – Links the firm’s e-business strategy with technology-driven marketing strategies. What is E-Marketing? It helps to improve the traditional marketing in segmentation/ targeting, differentiation/ positioning, product, price and also customer relationship management. Know your Audience and Market Share. Our ability and skills to perform profitable sales are affected by hundreds of An effective marketing plan will give a business owner a clear idea of the opportunities available in their market, as well as a deep understanding of target audiences and competitors. In terms of research, there are two possible approaches. 8. So why is marketing important? Disclaimer 9. It is a guiding, dynamic documents that links the firm’s e- business strategy with technology- driven marketing strategies and lays out details for plan implementation through marketing management. This will help you consider possible opportunities for your business and be aware of what your competition can do to harm your business. More Customers The chances of a consumer learning that your business exists and becoming a customer, without some... 2. When investors plan to present a product or a service, they worry about the cost of building the store besides the expenses of the employees. Determine what your long-term business goals are, such as the size of your business, and then establish your short-term goals, like increasing your customers. There’s no excuse you can use to avoid doing some research, you can even use Google Chrome in offline mode. Copyright 10. Just like the previous step, it’s necessary that you know your competition almost as well as you know your own business. Having a marketing business plan allows you to promote your services and products that meet your target market’s needs. 3. Marketing planning is a forward looking exercise, which determines the future strategies of an organisation with special reference to its product development, market development, channel design, sales promotion and profitability. Planning precedes activity in any purposeful endeavour. The term electronic marketing initially served as an extension of "Internet marketing" to address the growth of mobile … Marketing Planning: Importance, Benefits and Characteristics! Better Visibility Online marketing tactics like search engine optimization (SEO) enable your business to be more... 3. Make sure to use marketing tactics that reach your target customers without shelling out lots of money. 5. 10. 2. For example, there are pool marketing companies that strictly help pool companies with marketing. Content Filtrations 6. A marketing plan is an essential tool for business. Whilst a business plan helps define the direction for your company, a marketing plan will help your business understand how to get there and sets out … “No magic formula exists to prepare for the future. Privacy Policy 8. TOS 7. 2. According to American Marketing Association, “marketing planning is the work of setting up objectives for marketing activity and of determining and scheduling the steps necessary to achieve such objectives.” Planning is the first management function to be performed in the process of management. In order to understand how your business will work in the industry, it’s necessary that you do some research on the industry statistics, associations, and standards. ADVERTISEMENTS: Everything you need to know about marketing planning. It’s easy, effective, and inexpensive. Describe the tasks that marketers complete as they create e-marketing strategies. Some of the most important aspects you should be aware of in relation to your customers are who your target customers are, what their interests and problems are, how your competitors meet their expectations and how you can improve what they’re already doing. Any firm practising marketing in the proper sense has to identify correctly the needs of the consumer, translate the needs into suitable products and services, deliver those products and services to the total satisfaction of the consumer and through the process generate profits for the firm. Before publishing your articles on this site, please read the following pages: 1. 3-3©2018 4. 5. Strategic planning provides the route-map for the firm. Marketing Is an Effective Way of Engaging Customers. 2. The success depends to a large extent upon human behaviour and response. The best strategy is to implement multiple activities that help you increase your reach through different paths. A strategic marketing plan revolves around the kind of environment the entity desires to establish for the client in the quest to make sales. 3. 7. The E-Marketing Planning Process • The e-marketing plan is a blueprint for e-marketing strategy formulation and implementation. We had explained that marketing places the consumer at both the beginning and the end of the business process. This includes a study and analysis of consumer demands, along with a series of activities that the company must perform in order to achieve a specified marketing goal. These decisions actually emerge from the complex interaction of a large number of persons carrying out diverse responsibilities in the marketing organisation. It's not about being on the internet “just for the sake of it”, but about using your tools to strengthen your brand and drive results. Marketing Strategy = The marketing logic by which the business unit hopes to achieve its marketing objectives. Maintaining a strong brand across all of your online marketing is fundamental to success. 3. His buying is based on subjectivity and not often backed by objectivity. The cost of spreading your message on internet is nothing. More effective than social media (for customer acquisition). […] Planning helps to co-ordinate activities which can facilitate the attainment of objectives over time. Relevant information to determine from your competition is their location, the services and products they offer, the way they engage with their customers, their strengths and weaknesses, the marketing strategies they use, etc. We may now summaries the importance of marketing planning in the following points: 1. It gives an intelligent direction of marketing operations. Marketing agencies can help you find what’s best for your business. The importance of strategic marketing management is based on setting clear outcomes for the organization. Marketing planning promotes successful marketing operations. Today the consumer is a complicated, emotional and confused individual. Without concrete goals, the marketing plan and the business are aimless. Business firms naturally undertake a good deal of planning. 6. Identifying your direct competitors will let you know who offers the same services or products as you; while finding your indirect competitors will show you who sells different products but satisfies your customers' needs as well. A digital marketing plan defines what you want to accomplish within a given time frame, so you can meet a set of business objectives. To determine your marketing strategies, analyze your short-term goals, and decide which marketing activity will help you achieve your objective. ADVERTISEMENTS: 4. Consider it as a highly useful resource that will improve your business considerably. Strategy is not something that can be taken out of one’s pocket and pushed into the market all of a sudden. Various sub-divisions and sections under the department give their proposals based on which the overall company marketing plans are developed and designed. Planning is the first and the foremost function of management. In e-commerce the personal touch relayed by Marketing has been described as the railway engine which pulls all the other departmental carriages along. Keep in mind that finding a marketing agency will need to be specific to the line of work you are looking to promote. You need to understand what the role of your business in the market is and organize all the information you find about your future customers. Strategic planning serves as the hedge against risk and uncertainty. Plagiarism Prevention 4. When creating a digital marketing plan, it is important to remember that marketing is still about communicating the benefits of your … Thankfully, the Internet provides plenty of opportunities for every business to improve their bottom line. It is not unusual that most companies without well-formulated digital marketing plan do not have a... 2. One of the benefits of digital marketing is being able to reach millions of customers and hear what they have to say about your product or service. It helps in management by objectives. Content Guidelines 2. Marketing planning reduces the adverse consequences of unfavourable circumstances beyond the influence of management. All this knowledge will allow you to improve your business and prevent future issues. E-mails and wireless marketing also fall into the category of e-marketing. Consider it as a highly useful resource that will improve your business considerably. Marketing planning defines the role and responsibilities of marketing executives in such a way as to achieve the goals of the firm. A firm cannot afford to travel in a haphazard manner, it has to travel with the support of a route map. Understanding the language used in e … Marketing planning, as a rational activity, requires thinking; imagination and foresight. Using that information, businesses can craft a detailed strategy to guide … Thus, marketing planning has both an optimistic and a pessimistic component. Marketing management is the blending factor of markets and marketing. Marketing planning is the interface between the enterprise and its market. 8. A useful way to classify your target market is into groups with similar features, such as location, gender, family size, income, etc. It helps in avoiding future uncertainties. The E- Marketing plan is a blue print for E- Marketing strategy formulation and implementation. Marketing planning is the starting point of all marketing and business activities of an enterprise. As a result, the first step in creating a strong strategic marketing plan is to outline the goals of the business and how the marketing strategy will help the business to achieve them. The requirements are excellent insight to understand changing consumer needs, clear planning to focus our efforts on meeting those needs, and flexibility, because change is the only constant. Marketing planning involves the preparation of policies, programmes, budgets etc., in advance for carrying out the various activities and functions of marketing to attain the marketing goals. The Importance of Online Marketing 1. 1. The connecting link of markets to marketing is the process and the function of marketing management. Communicate Your Brand Promise and Build Trust 3 A major component of your e-commerce strategy is internet marketing. Discuss the nature and importance of an e-marketing plan and outline its 7 steps. We may now summaries the importance of marketing planning in the following points: 1. Although it takes lots of time, research, and commitment, the importance of a marketing plan is remarkable. Strategic planning is a stream of decisions and actions which lead to effective strategies and which in turn help the firm to achieve its objectives. Marketing planning is a formal and systematic approach towards planning of all marketing activities-product positioning, price setting, distribution channels etc. You can check your website traffic rank and use the results to evaluate your business progress online and boost your reach. 7. 9. Step-7: Evaluation Plan; 2.2. • The plan serves as a road map to guide the firm, allocate resources, and make adjustments. 10. Marketing planning helps to appraise performance, capitalize on strength, minimize weaknesses and threats and finally open up new opportunities. An important purpose of marketing plans is to do some research on potential customers.

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