MARKETING EVOLUTION
“ The marketing strategy addresses the game plan for achieving the marketing objectives . Here , the market is grouped homogenously , and the needs that the business ’ offerings are intended to satisfy are described .”
think about anything or anyone that can represent the look and feel of your organization . This includes your website , promotional materials , staff uniform , social media pages , office space , amongst others . These have the potential to communicate the brand of your company .
It ’ s a good idea for example to keep a clean and well-designed physical space . A virtual space should be appealing to the eye and not be too wordy or filled with too many graphics . Most banks in Kenya do a great job when it comes to physical evidence . When inside a KCB banking hall for example , it ’ s clear that it ’ s KCB bank ; no detail has been overlooked .
Implementation
Budget and Forecasts
Marketing takes time and money . This section allows the business owner to know what to expect in terms of results . A good budget helps allocate the right amount of money to the right marketing programs to make the greatest impact . Here , the business owner outlines how much will be spent on each element of the marketing mix , that is , product , price , promotion and place ( distribution ). The forecast addresses expected achievement from efforts in implementing the marketing plan .
They can include sales , revenue , expenses , customers , etc . The breakeven analysis allows the business owner to determine at what point revenue and expenses are at par . This can be done monthly or yearly .
In Summary
Marketing is a key function of business and so it makes sense to take the time to develop a good , well thought out marketing plan . Hopefully the ideas above will help you get started . It ’ s also important to schedule developing your business ’ marketing plan and rope in other members of staff who support different functions to help . They ’ ll provide valuable insights . ■
Marion Wakahe is a marketing professional who is passionate about business growth and sustainability and its role in peoples ’ empowerment . She is of the opinion that the marketing function is the primary driver of business growth . You can engage with her via email :
MWakahe @ gmail . com
we provide innovative and effective marketing solutions such as :
Pinacom Media Limited Chepkorio Road , No . 8 Off Lusaka road , opposite CMC Engineering Call : + 254 798 698 100 Email : info @ pinacom . co . ke / frank @ pinacom . co . ke Social media : @ Pinacom Media Limited www . pinacom . co . ke