Bryant your research on marketing concepts is very good. The core of the plan is definitely in place and elements of the campaign, such as direct mail and more are going to be your most effective choices to refresh the brand. Other considerations moving forward: can you start building out the demographic profile now and decide how it matches with your selected sectors? Good ideas on building a brand/slogan that differentiates GGI—can you create one at this point? Who is the target audience? Do you think GGI is known in the marketplace/industry … this affects slogans, branding, etc. What about walletshare, personalized marketing in addition to direct mail and permission marketing … .do these help build the brand? Keep going! I look forward to see how this wraps into the final plan, too! Grading Criteria Presentation includes 8-10 slides, with additional title/intro and reference slides, with 200-250 word speaker notes = 15/15 Deadline = 10/10 Presentation includes: (Total) 108/125 Level 3 work: Discussion includes notes re: your marketing goals, both quantitative in revenue growth, profit margins and marketshare; and qualitative with ideas on increasing goodwill and brand image. Uses definitions of basic marketing terms with applicability back to scenario company. Level 3-4 work: Illustrates with example how business is affected in all areas by marketing, noting that marketing determines demand, which affects production; marketing has a budget, which affects finance; marketing supports sales teams; marketing requires IT resources, etc. Highlights the role of CRM and how it helps keep existing customers with concepts and examples such as loyalty and lifetime value of a customer, customer service, personalized marketing and more. Develops an initial branding strategy with creative slogan for GGI… Identifies specific housewares sector, i.e. tabletop, small electrics, etc. as evidenced through research from supplemental materials. This section is essential as you get ready to work on the group project! Your targeted segment should match your product choices/housewares industry sector! Recommendations for GGI’s overall marketing mix are noted/explained for senior management. APA/applicability/examples/grammar/spell checked. TOTAL = 133/150 Introduction: Global Gadgets imports has been one of the major importer of home decor and gift items, this trend has began to drop, most definitely because of certain marketing miscalculations, marketing can be tricky, marketers of products, especially products that deal with taste and are very expensive go with fashion the tastes of consumers change as frequent as the weather changes. Marketing aims at profiting but profit after customer satisfaction, the satisfaction of a customers quest for quality has to do with some basic factors; fashion trend and the economic situation. Thus a marketer must concentrate on the way customer perceive, their expectations and the present fashion trend at the marketing time or the importation time of the products. The trends that affected the marketing capabilities of GGI failed them and the possibility of the company getting back at her feet is still colorful, the company will have to put in place certain strategies with marketing concepts that will enhance better performance and profit, if that is the goal of the company, which I believe applies to all marketers. Therefore, a major marketing project will ease the marketing capabilities or prospects of GGI. Which will comprise a strategy for the implementation of various objectives for the company; essential marketing concepts will be considered and implemented among other things.
INTRODUCTION Applied Managerial Marketing BY Bryant R. Filter
The goals of this marketing project will comprise a variety of marketing strategies that will positively help the company reach an optimized stage of sale and marketing. The following objectives will be met at the end and implementation of the project;
Based on the fact that the product marketed is the core or the business fulcrum which the pivot of the business is optimized, the product line will be touched and improved, the products that are imported will be improved or perhaps a better producer will be contacted to produce a new line of products that are in vogue, since customer follow the products of time. A variety of new products will be introduced into the business to facilitate choice and sales.
The price range of the products will be reduced so without compromising the quality, this will be achieved among other things however, the company will take advantage of the existing company relationship with her producer/suppliers and demand for the supply of a new variety of products at reduced price by doing this customers will be able to enjoy new products in the market at a reasonable or affordable prices.
The repackaging of the products will at the end of the project enhance a newer look which will be more enticing and will attract a variety of customers who concentrate on the outside of a product rather than the inside, without loosing capital.
The reputation of the company will checked and the areas lacking will be marked and proper solutions will be proffered for a better output in the market. This will be achieved by looking out for major loopholes in the approaches of the company in terms of customer relations and proper marketing via advertisement.
Finally a wider range of marketing outlets will be created to enhance a closer reach to the customer. This will prompt the customer to patronize then closest option of a variety.
A lot of things will need to change for this plan to be effective and the major sections within GGI that will be affected are the marketing department, the customer relations department, the executive staff members and the sales department there will be a major reform exercise in ideas, thoughts, relations and work rates. Thus the mentioned departments will be affected;
The term customer relationship marketing has come along way; actually the concept has to do with obtaining and maintaining customer relations however, Jones (2007) defined it thus “Relationship Marketing is a marketing strategy whose objective is to establish and maintain a profitable, long-term relationship with a customer, who goes beyond the initial contact. Relationship marketing is a form of marketing that evolved from direct response marketing; it places emphasis on building longer-term relationships with customers rather than on individual transactions. Relationship marketing involves an understanding of customers' needs and wants through their lifecycle and providing a range of products or services accordingly” (p.1)
Despite the fact that existing customers of this company were still there when this started having slopping sales is not sufficient reason to divert attention from existing customers to new customers. The company should employ a system which will carry both new and existing customers along. Besides the eliminating of old customer will only succeed in the failure of this project hence it is meant to improve on the sales capabilities of GGI and not introduce GGI into a new line of business. The process of improving on the relations with old customer and building a new relationship with new customers will be most ideal since the business will not change.