Marketing

By: Valerie Jarrin

What is Marketing?

"Marketing and innovation are the two chief functions of business. You get paid for creating a customer, which is marketing. And you get paid for creating a new dimension of performance, which is innovation. Everything else is a cost center." Peter Drucker

Marketing Strategies

There are only three marketing strategies needed to grow a business: (1) Increase the number of customers (2) Increase the average transaction amount, and (3) Increase the frequency of repurchase.

Cont…

Every marketing strategy should be measured by it’s ability to directly impact and improve upon each of these three factors.

Increasing only one factor will produce linear business growth. Increasing all three factors will produce geometric business growth.

Advertising plan

Is an outline of what goals an advertising campaign should achieve, how to accomplish those goals, and how to determine whether or not the campaign was successful in obtaining those goals.

Six Steps to develop public relations and media plan

Step 1: Define and write down your objectives for your publicity or media plan.

Step 2: Define your goals in achieving this objective. It is important that your goals be specific, measurable, results-oriented and time-bound. These goals must be in-line with your overall business, marketing, and sales objectives.

Step 3: Determine who your target audience consists of. Who is it that you want to reach with this campaign? What do you want your key message to be?

Step 4: Develop a schedule for your public relation campaigns. Create synergy by coinciding your public relations plan with other marketing and sales efforts.

Step 5: Develop your plan of attack. What communication vehicles will you use to get your message to the public?

Step 6: Put measures in place to track the results of your PR Campaign. After each campaign sit down and review the results. Did you achieve the defined objectives and goals of this campaign? Should you consider modifying your original plan? If so, how and why?

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