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The following article explores key components need to be included in designing an effective marketing plan. First element : Product Performance. Two to three paragraphs summarizing the product's performance relative to last year's plan, along with explanations of variances from the plan. Any research conducted on product performance or quality can be included in this section as well.
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A marketing strategy is composed of several interrelated elements. The first and most important is market selection: choosing the markets to be served. Product planning includes the specific products the company sells, the makeup of the product line, and the design of individual offerings in the line. |
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Brand equity is a set of brand assets and liabilities linked to a brand, its name and symbols, that add to or subtract from the value provided by a product or service to a firm and/or to that firm's customer. For assets or liabilities to underlie brand equity they must be linked to the name and/or symbol of the brand. |
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All marketing strategy is built on STP : Segmentation, Targeting, and Positioning. A company discovers different needs and groups in the marketplace, targets those needs and groups that it can satisfy in a superior way, and then positions its offering so that the target market recognizes the company's distinctive offering and image. |
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A sound understanding of consumer behavior is essential to the long-run success of any marketing program. In fact, it is seen as a cornerstone of the marketing concept, an important orientation or philosophy of many marketing managers. The following descriptions explore the role of consumer behavior in designing and deploying three major marketing activities.
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The strategy-making/strategy-implementing process consists of five interrelated managerial tasks: forming strategic vision, setting objectives, crafting a strategy to achieve the desired outcomes, implementing and executing the chosen strategy and
evaluating performance. |
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