Basic Marketing Concepts
Strategic Marketing Concept
Competition: The marketing plan should identify the organization’s competition. Direct measures of the short-term variant of ROMI are often criticized as only including the direct impact of marketing activities without including the long-term brand building value of any communication inserted into the market.
Regional chief marketing officers (CMOs) are likely to spend more on technology than their chief information officer (CIO) counterparts, and they are becoming increasingly aware of the limitations that application management, security and compliance will place on their marketing agility.
A growing number of brands and marketing firms rely on digital analytics for their digital marketing assignments, where MROI (Marketing Return on Investment) is an important key performance indicator (KPI).
Even so, the first task of this annual process should be to check that the material held in the current facts book or facts files actually is comprehensive and accurate, and can form a sound basis for the marketing audit itself.
By quantifying the actual number of new leads, prospects and customers required to achieve our clients’ overall sales, revenue, cost & profitability goals we can accurately project the required marketing budget to achieve the targets.
While the definitions of marketing vary based on perspective, they generally refer to engaging a target market of consumers or other users to ultimately sell a product and hopefully to maintain a relationship beyond the purchase.
Quick-Start Marketing Action Plans integrate the optimal blend of new customer acquisition, current customer optimization and best customer retention marketing to deliver each client’s desired business results.