Marketing Project

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  • This marketing project presentation will explore the goals of the marketing project and suggest how to achieve them. The goals are to expand the current product line; to repackage and brand; to open additional stores; and to increase sales and brand awareness through a major marketing campaign.Marketing concepts will also be covered in this presentation. The concepts to be considered, although not limited to, are public relations, branding, website, digital marketing (virtual media), campaign, promotion, slogan, direct mail, and advertising.
  • The presentation will also explore which departments will be affected and/or supported due to the new marketing project. Discussed will be how and why they are affected and/or supported.Customer relationship marketing will be defined and its relevance will be explained. Lastly, the question of which customer group (existing customers or potential customers) to focus the marketing project on will be answered as well.
  • What are the goals of this marketing project?The first goal for Global Gadget Imports (GGI) is to expand the product line of home décor and gift items to include housewares. GGI’s main supplier carries a full range of good quality housewares products that would satisfy the expansion goal. GGI can likely use their existing relationship with this supplier to obtain discounted pricing on the additional product lines.GGI’s second goal is to repackage and brand. Currently, GGI products are packaged with a plain brown wrapper that draws little to no attention to the brand. This will be remedied by repackaging the products with a GGI wrapper. The wrap will contain GGI’s logo, slogan, and web address. Even though the cost of the wrap will decrease the profit margin at the forefront, by promoting a stronger brand image the loss can recouped in future gains.
  • What are the goals of this marketing project? Next on the list of goals is to open additional stores. GGI currently operates eleven stores in a three state region. Opening additional stores in the current region may flood the market therefore GGI should consider expanding its region to include additional surrounding states for their additional factory direct stores. The last goal on the list is to increase sales and brand awareness through major marketing efforts. This effort will be underway by achieving the first three goals but it does not stop there. GGI will need to conduct a marketing audit to determine if and when to proceed with the marketing project. The marketing audit will measure not only internal factors but external factors also such as the marketing environment, economic conditions, and market demand. Additional objectives must be determined such the time frame to implement the project and if resources are available to achieve the goals. The target market will also have to be determined as well as additional market demographics. Marketing concepts will also have to be determined so as to broach the correct marketing environments.
  • Briefly define the essential marketing concepts that could be used in this project: Advertising, Public Relations, Direct Mail, Promotion, Slogan, Branding, Campaign, Website, and other Digital Marketing Methods.Marketing concepts are the methods used to get your product and brand message to the end user. The first concept is branding. There are different views as to what branding is. To some branding is simply the business logo. To others branding is marketing image and/or reputation of the business. Some combine the two, which is the view to be taken at GGI.The next concept is that of public relations and it isn’t the public relations of the past. Public relations has changed and can now reach a larger audience thanks to the world wide web. “Prior to the Web, organizations had only two significant choices to attract attention: Buy expensive advertising or get third-party ink from the media. But the Web has changed the rules. The Web is not TV. Organizations that understand the New Rules of Marketing and PR develop relationships directly with consumers like you and me” (Scott, 2009). Thus, public relations is just as it says, public relations. PR is the communication and interaction between the company, or its employees, and the end user or consumer. Which brings us to digital marketing methods. Digital marketing methods via the internet are increasing market coverage. The methods contained therein are as follows:Websites: “Basically, a web site is a set of documents (called ‘web pages’) that you can view via a computer network called the Internet. Web pages are in a format called HTML (HyperText Markup Language, if you really want to know), and the program that you usually use for viewing these documents is called a web browser” (WSDfRO, 2002).Blogs: Blogs are websites developed with a lightweight content management system.Microblogs: Microblogs are real time group instant messages that are limited to 140 characters. Twitter is a popular microblog.Social Networks: Social Networks are online community groups where individuals, groups, organizations and more gather to socialize. Examples are Linked in, Facebook, Flicker, YouTube, MySpace, and Branded.Aggregators: Aggregators are online communities that supply content to the member or reader based on set criteria. Examples of aggregators are Digg and Stumble.
  • Briefly define the essential marketing concepts that could be used in this project: Advertising, Public Relations, Direct Mail, Promotion, Slogan, Branding, Campaign, Website, and other Digital Marketing Methods.The remaining concepts come from a more tradition approach and they are as follows:Campaign: A marketing campaign is a method to raise or increase consumer awareness in a product and/or a company.Promotion: Promotions are methods to increase sales through contests, discounts, and giveaways.Slogan: A slogan is a catch phrase or tag line.Direct Mail: Direct mail is a method of offering a target group specifically tailored goods and/or services.Advertising: Is another method of reaching consumers through the use of paid television or radio spots, placement in newspapers and magazines, direct mail, and the telephone.
  • What departments within GGI will be affected by or supported by this marketing project? How and why will they be affected?Accounting and Finance will establish and control marketing budget for new product line.Information Technology (IT) will oversee website development, maintenance, and virtual marketing for new product line.Marketing and Public Relations will work with all department to develop the marketing plan for new product line.Upper Management must approve the marketing plan for new product line.
  • What departments within GGI will be affected by or supported by this marketing project? How and why will they be affected?Sales will have increased buyer traffic from the new product line.Logistics will coordinate import and distribution of the new product line.Warehouse will store the new product line.Customer Service will have an increase in consumer concerns due to the new product line.Human Resources will need to hire new employees for the new stores, warehouse, and for customer service due to the new product line.
  • Define Customer Relationship Marketing. Customer relationship marketing (CRM) involves the marketing activities that establishes, develops, and maintains successful customer relationships. The main focus of CRM is developing life long relationships and improving company performance via customer loyalty and retention.
  • Should this marketing project focus on marketing to existing customer or marketing to new, potential customers and why?The marketing project should market to both existing and potential customers because little attention has been paid to whether GGI has a reputation in the market. By marketing to the already existing customers GGI can increase customer satisfaction as well as increase customer loyalty. While marketing to potential customers GGI can create a new client base, gain customer satisfaction, and develop customer loyalty.
  • Scott, D.M. (2009). New rules of marketing and PR: How to use news releases, blogs, podcasts, viral marketing andonline media to reach your buyers directly. Hoboken, NJ: John Wiley & Sons, Inc.WSDfRO. (2002). What is a web site? Retrieved November 26, 2009, fromhttp://www.religiousresources.org/homepage/t_whatis.php

Transcript

  • 1. Marketing Project
    Global Gadgets Imports
  • 2. Marketing Project
    Cynthia C. Cutright
     
     
    MKT630-0904B-01
    Professor Alan Fowler
    November 27, 2009
  • 3. Introduction
    Marketing Project Goals
    Expand Product Line
    Repackage and Brand
    Open Additional Stores
    Major Marketing Campaign
    Increase Sales & Brand Awareness
    Marketing Concepts
  • Introduction Cont.
    Affected Departments
    How and Why
    Supported Departments
    How and Why
    Customer Relationship Marketing (CRM)
    Marketing Project Focus
    Existing Customers and Why
    Potential Customers and Why
  • 13. Expand Product Line
    New Product Offering
    Housewares
    Repackage and Brand
    Logo
    Slogan
    Web Address
    Marketing Project Goals
    Your one stop shop for all your gadget needs.
    www.globalgadgetimports.org
  • 14. Open Additional Stores
    Increase Region
    Surrounding States
    Major Marketing Campaign
    Increase Sales
    Increase Brand Awareness
    Marketing Project Goals Cont.
  • 15. Branding
    Logo, Image, Reputation
    Public Relations
    Interaction between Company & Consumer
    Digital Marketing Methods
    Websites
    Blogs
    Microblogs
    Social Networks
    Aggregators
    Marketing Concepts
  • 16. Campaign
    Promotion
    Slogan
    Direct Mail
    Advertising
    Marketing Concepts
  • 17. Accounting and Finance
    Budget
    Information Technology (IT)
    Internet
    Marketing and Public Relations
    Development & Implementation
    Upper Management
    Approval
    Affected Departments
  • 18. Sales
    Increased Buyer Traffic
    Logistics
    Import & Distribution
    Warehouse
    Warehousing New Product Line
    Customer Service
    Increased Consumer Concerns
    Human Resources
    Hire Additional Employees
    Supported Departments
  • 19. Establishes Customer Relationship
    Develops Customer Relationship
    Maintains Customer Relationship
    Improve Company Performance
    Customer Loyalty
    Customer Retention
    Customer Relationship Marketing
  • 20. Marketing Project Focus
    Existing Customers
    Lacking Market Reputation
    Increase Customer Satisfaction
    Increase Customer Loyalty
    Potential Customers
    Lacking Market Reputation
    Create New Client Base
    Gain Customer Satisfaction
    Develop Customer Loyalty
  • 21. References
    Scott, D.M. (2009). New rules of marketing and PR: How to
    use news releases, blogs, podcasts, viral marketing and online media to reach your buyers directly. Hoboken, NJ: John Wiley & Sons, Inc.
    WSDfRO. (2002). What is a web site? Retrieved November
    26, 2009, from http://www.religiousresources.
    org/homepage/t_whatis.php