Marketing Analysis and Business Opportunity Information

Internet Marketing

noreply@blogger.com (Marketing Info) — Wed, 08 Feb 2012 23:50:00 +0000

Most of the companies think that web site is everything in the world of marketing on the internet, but the web site only a small part of the marketing in the virtual world.

Many companies, including in Indonesia actually able to have the budget to do that, but what a pity they are not competent to do that, but their attempt to reach the online world only with the traditional method of marketing.

Nowadays more companies will 'go the Internet', and rarely companies are not 'go internet' if they do not want to become extinct (even though this is not a guarantee they can survive).

Consider the traditional concept of marketing such as Market Segmentation as a method to identify a group of consumers, in a broader market, which has the characteristics and needs are similar.

Well, now with the booming growth of the Internet in almost every country so this can become our market that is, a group of consumer's can be found online.

To be able to identify this new market segments, requires you to identify and implement various strategies and new techniques as an additional marketing strategy from conventional.

What is Internet Marketing (PI)? How does this differ with the concept of traditional marketing?

Some of them include planning strategies, analysis of the situation, customer analysis, market and product development, positioning, also different 5P, pricing, product distribution and online campaign.

But indeed, many of the principles, techniques, tactics in the PI stems from the traditional marketing strategy, but with the different implementation.

So in order to campaign your internet business successfully, you must recognize the concept of conventional marketing strategies.

This is a sample of marketing messages through the internet media ad campaigns,such as based on the testimonial campaign Web site, through a marketing site search, marketing and purchasing based pay-per-click, viral marketing, affiliate marketing, URL marketing, email marketing, online press releases.

Thus, the PI should be included in the section of Marketing Mix. Essentially, Internet Marketing defined as a combination of traditional marketing principles and interactive marketing methods applied to meet the needs of customer.

Therefore, the traditional marketing professionals need to get additional training to understand and can meet the needs of customer to become a great e-marketers.

Therefore it is suggested that companies in Indonesia should emphasize this internet marketing, at least ideally, there must be the marketing staff's dedicated specifically to consumers online although they must be synergized between online and offline.

Must also be distinguished from that PI must do by those who understand the traditional marketing as well, not by people from the IT department that do not understand the world of marketing in general.

At least IT workers is as the operational and the marketing people as commander in marketing strategy. So the e-marketers should command technology and graphics experts, because they absolutely do not even know the concept of traditional marketing especially online marketing's principles contained therein, because they only see from the technology not in the side how to use the technology for business, marketing and campaign to meet the needs of customer and generate profits.

Therefore it is time for your marketing team to know and learn about Internet Marketing to be one with all Marketing Mix in the company where you work.

Pricing Strategy

noreply@blogger.com (Marketing Info) — Wed, 14 Jan 2009 15:22:00 +0000

Price is only one of the marketing mix tools used by companies to achieve marketing goals. Before set the price, the company must decide products strategy. If the company has selected the target market and make the positioning carefully so marketing mix strategies including the price will be easily implemented.

Determination in the price of a new product can determine the success of these products in the market. There are some of the factors that affect the pricing issues such as internal factors which consists of the marketing objectives, marketing mix strategies, and cost considerations and organizational factors and the external factors which consists of market behaviour and market demand, competition and consumer expectations.

Speaking price means talking about how the image quality and how exclusive the product. High or low prices affect the perception of quality, so it determines the image of a brand or product. In the perception of consumers often apply the logic that the expensive price means good quality and cheap price, which means less quality. At a certain level set the price also means talking about exclusivity.

Pricing Management is not separated from the pricing objectives that are quite varied, ranging as means to achieve profit growth, revenue gain, image shifting, segment market leadership , product quality leadership and make new products.

Pricing strategies will be effective if applied properly in accordance with the characteristics of the products (new product / old, commodities / not, tangible / intangible) and the marketing environment, such as competition situation (tight or not, the market structure and behavior of consumers). In the products that are not tangible (intangible), the price should be able to present the image quality. And the Perceived value approach is the most appropriate approach.

In general, differentiated pricing strategy based on three main runway that is the price based on the cost price, based on demand and based oncompetition. The three strategy base can be described with a variety of approaches in the pricing strategy.

When a company has set a base price of the products or services, then the company can determine the pricing strategy withconsidering of various factors such as price competitor, company goals and product life cycle.
In the introduction of new products, there are two prominent price strategy, namely skimming and penetration.

1. Skimming Price
Skimming strategy is begin with set a high price when the new products launched and time to time will continue to fall in price. This strategy can be applied if the product is indeed have a competitive advantage compared to products that have been present. Products with technology inside is very suitable to use this approach. If we see electronic products and cellular phone almost all using this approach when is launched the price is still expensive, and then gradually decreased. Example : computer.

2. Price penetration
Price penetration strategy is determining the initial price as low as possible with the goal of market penetration to quickly and build brand loyalty from the consumers. Can be applied in the unfragmented market situation in different segments,and the product does not have a high symbolic value. This approach is also effective with the target whom market-sensitive prices.
Example: noodle.

Marketing Plan

noreply@blogger.com (Marketing Info) — Wed, 14 Jan 2009 14:54:00 +0000

Marketing plan plays a vital role in successful business ventures. The Marketing Plan explains how you're going to get your customers to buy your products and/or services. How well you market your product, along with a few other considerations, will ultimately determine your degree of success or failure.

The key element of a successful marketing plan is to know your customers their likes, dislikes, expectations. By identifying these factors, you can develop a marketing strategy that will allow you to arouse and fulfill their needs.

Identify your customers by their age, sex, income level, educational level and residence. At first, target only those customers who are more likely to purchase your product. As your customer base expands, you may need to consider modifying the marketing plan to include other customers.The marketing plan, then, will include sections detailing your:

Products and/or Services and your Unique Selling Proposition
Pricing Strategy
Sales and Distribution Plan
Advertising and Promotions Plan

The easiest way to develop your marketing plan is to work through each of these sections, referring to the market research you completed when you were writing the previous sections of the business plan.

(Note that if you are developing a marketing plan on its own, rather than as part of a business plan, the marketing plan will also need to include a Target Market and a Competitive Analysis section.

Products and/or Services

This part of the marketing plan focuses on the uniqueness of your product or service, and how the customer will benefit from using the products or services you're offering. Use these questions to write a paragraph summarizing these aspects for your marketing plan:

What are the features of your product or service?

Describe the physical attributes of your product or service, and any other relevant features, such as what it does, or how your product or service differs from competitive products or services.

How will your product or service benefit the customer?

Remember that benefits can be intangible as well as tangible; for instance, if you're selling a cleaning product, your customers will benefit by having a cleaner house, but they may also benefit by enjoying better health. Brainstorm as many benefits as possible to begin with, and then choose to emphasize the benefits that your targeted customers will most appreciate in your marketing plan.

What is it that sets your product or service apart from all the rest?
In other words, what is your Unique Selling Proposition, the message you want your customers to receive about your product or service that is the heart of your marketing plan? The marketing plan is all about communicating this central message to your customers.

Marketing Competition by Sun Tzu

noreply@blogger.com (Marketing Info) — Wed, 19 Nov 2008 05:51:00 +0000

So in war, then, let a victory be your main objective, not the conduct of lengthy and costly campaigns.

As a rule of war, if our forces outnumber the enemy’s forces by ten to one, surround him; if by five to one,
attack him; if by two to one, divide his army in two. If equally matched, offer battle; if slightly inferior in
numbers, avoid his main force; if quite unequal in every way, elude him.

In the practice of the art of war, it is best to take the enemy’s country whole and intact. To shatter and
destroy his country is inferior to this way. So, too, it is better to capture an army intact than to destroy it,
better to capture a regiment, a detachment or a company intact than to destroy them.

Thus it is that in war the victorious strategist seeks battle after the victory has been won, whereas he who
is destined to defeat first fights and afterwards looks for victory in the midst of the fight.

When he uses his combined force, his soldiers become like rolling logs or stones. For it is the nature of
a log or stone to remain motionless on level ground, and to move when on a slope; if four-cornered, to come
to a standstill, but if round-shaped, to go rolling down. Thus the military force developed by good soldiers
is like the momentum of a round stone rolling down a mountain thousands of feet high.

Let your rapidity be that of the wind, your appearance imposing as a great forest.

To make yourself invulnerable to defeat lies in your own hands, but the enemy himself must provide you
with the opportunity to defeat him.

If you know the enemy and know yourself, your victory will not stand in doubt; if you know Heaven
and know Earth, you may make your victory complete.

Walk in the path defined by rule, and accommodate yourself to the enemy until you can fight a decisive
battle. At first, then, exhibit the coyness of a maiden, until the enemy gives you an opening; afterwards
emulate the rapidity of a running hare, and your enemy will find it too late to oppose you.

Do not move unless you see an advantage; do not use your troops unless there is something to be gained;
do not fight unless the contested position is critical. Copyright © 2003 – Robert Cantrell

www.artofwarsuntzu.com

SWOT Analysis

noreply@blogger.com (Marketing Info) — Tue, 11 Nov 2008 00:38:00 +0000

SWOT Analysis is an effective method of identifying your internal and external environment summarised as your strengths, opportunities, weaknesses and threats and is key to business planning success.

Let's explore what makes the analysis of Strengths, Weaknesses, Opportunities and Threats so significant.

Four areas of analysis

Your SWOT analysis will help you focus and build on your strengths, minimise weaknesses, maximise your opportunities and mitigate any weaknesses and is the foundation of any business plan or marketing plan.

Strengths - internal analysis
Weaknesses - internal analysis
Opportunities - external analysis
Threats - external analysis

Now, we will analyze some aspects of that situation. We are looking for two key things:

Opportunities:These are developments in the external marketing environment which will lead to new market segments or which will enhance existing ones. A change in consumer attitudes,a new law that makes a product required, a group in the population that is entering a new stage -- any of these could be major opportunities.

Threats: These are developments which threaten to disrupt the status quo in some way. A new competitor, especially an aggressive one, will alter industry dynamics dramatically. A decline in interest for a major product category (e.g. cigarette,beer) would be another threat. A rise in interest rates can put a damper on the housing industry.

Above all, remember that opportunities and threats exist in the external environment and are completely independent of whatever firm you are studying. This is essential to understand, because any of several firms could pursue the same opportunity! A thorough analysis would consider likely competitor actions and recognize that others could get a share of the new segment.

Once we have identified the key opportunities and threats, we can determine which opportunities to exploit and how we can avoid or overcome threats. All of this happens after we are clear on what is happening in the environment.

Strengths & Weaknesses

A realistic, objective analysis of our subject company yields two key things. It gives us a sense of what strengths we can build on and what weaknesses we can overcome or avoid.

Weaknesses are usually just the opposite of strengths! A horrible brand reputation would be an example. While it is tempting to be charitable or full of worship when analyzing a firm, it is essential to get a realistic sense of where their problems lie.

Once this analysis is complete you will have to put various actions plans together to focus on what will make your business a success in the future.
Nowadays marketers often using OT (Opportunities and Threats) first before SW (Strengths and Weaknesses).

Competition Based Pricing

noreply@blogger.com (Marketing Info) — Thu, 30 Oct 2008 15:01:00 +0000

Competition Based Pricing
Competition is a way of life. Your pricing strategy is another marketing technique you can use to improve your overall competitiveness. Get a feel for the pricing strategy your competitors are using. That way you can determine if your prices are in line with competitors in your market area and if they are in line with industry averages.

There are 3 types of pricing :

a) Destroyer Pricing

You should be carefully if want to use this strategy. Company use this strategy as an attempt to eliminate competition by lowering prices to an extent where competitors cannot compete and consequently, they go out of business. This is what you find with all competition based pricing strategies.

To do this company should make a research to know how competitive they can be with their prices compare to their competitors. If competitors can follow your price cuts even more they do it lower than yourself,you may go out of business.

b) Price Matching

Many companies feel that lowering prices to be more competitive can make a disaster for them and so instead, they settle for a price that is close to their competitors (just follow the leader if your company is not the leader in the field or you can set your own price if your company is dominant in the field)

Any price movements made by competitors is then followed by yourself: but how long that you can compensate for any reductions if they keep lowering their price.

You should make your business more dominant within its market by offering good service or product that is unique or popular (through branding). As a result, you may have the power to set the price in which your competitors will attempt to follow.

c) Price Bidding

Price bidding is a strategy most common with manufacturing, building and construction services. For example, in the government project all the consulted businesses will send a representative to bid for the work as if it was an auction.
If this was considered a big job (likely to generate high revenue), then some businesses would consider cutting their prices as it may account for a large proportion of their annual revenue.