Marketing Effectiveness

Essay by Hokie95University, Master'sA+, March 2006

download word file, 6 pages 5.0

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Table of Contents

1. Introduction

2. Primary Keys to Marketing Effectiveness

a. Identify the Target Audience

b. Provide Customer Value

c. Listen to the Experts

d. Establish and Maintain Customer Loyalty

3. Discussion on the ways you can measure marketing effectiveness

4. Discussion on the Importance of Integration and recommendations to create/promote it

5. Evaluation of the Marketing Effectiveness of UGS

6. Summary and Conclusion

7. References

1. Introduction

Marketing can take many different forms, but the basis of the process is to identify a target audience with a need, provide information about the product offering, price/promote appropriately, and distributing the product. How can you be sure each step is being performed in an optimal manner? This discussion approaches marketing effectiveness from the standpoint of a CEO who is interested in maximizing revenue, but is ignorant as to the most efficient method(s).

The objective of most businesses is to maximize profit margin and revenue generation.

Hence, the marketing objective should mirror that and determine the optimum plan to deliver maximum return on investment (ROI). An effective marketing strategy requires extensive research to determine several factors prior to development (target, objective, etc), and constant monitoring during the actual sale of the product. The plan must be dynamic as the marketplace is fluid.

There are several tools that can be utilized along several phases of the marketing plan. Two of the most important tools include (1) the use of the four Ps (Product, Price, Promotion, and Place), which can assist in determining the best marketing mix that satisfy the needs of your target audience, and (2) a situational analysis (SWOT) can be used during the planning stage of any strategic marketing process to determine factors such as industry trends, evaluate competitors, assess strengths and weaknesses of the target organization, as well as...