Question

Using examples and explanations, construct an essay on the six step approach needed to develop effective marketing communication

Answer 1

In the process of establishing and growing a business, marketing plays a vital role in the economy. The first course of action is to devise an effective marketing plan.

An effective marketing plan gives a clear idea of opportunities and threats prevailing in the market. Without a proper marketing plan businesses may find difficulties in sustaining in the market for a longer period.

However there are six essential elements to a successful and effective marketing plan.

1. Market Research - Research plays an important role in marketing. Before laying out any strategies it is important to conduct a market research. Research includes finding out the company’s position in the market and also the challenges and resources available for expansion.

Understanding the needs and requirements of the customer is also a major aspect of market research. It also includes research of various similar products prevailing in the market and their responses.

2. Competitive Analysis – The next important step is to analyze the depth of competition present in the economy. It includes researching about the competitors and also about their strengths and weaknesses. Analysis of their marketing techniques and results generated from them.

3. Identify Target Audiences - In order to be successful in the market, a business must identify its target audience. Learning who these people are and what drives them to the company is most important.

Companies need to classify their audience according to their needs and preferences in order to get best results.

4. Set goals and Objectives - Using the research about the market, competitors, and target audiences, companies can create their goals and objectives. There should be both short and long-term goals and objectives that push a company to reach their marketing goals, but are also achievable and feasible.

These goals and objectives will cover a whole year, and should work alongside other business goals. There can be some adjustments to the marketing goals and objectives over time, but they should challenge companies to work hard and smart to achieve them.

5. Define Specific Strategies and Tactics

This is the essence of the marketing plan. Using all of the previously mentioned information, a company then comes in a position to develop specific marketing strategies, and define the tactics needed for each strategy.

These strategies could be to use of advertising to grow revenue within a set time period, or implement social media to improve customer perception of a business or product. These strategies differ for each company and brand. These strategies and tactics will naturally evolve over time as companies achieve their goals, and as business leaders discover what works best and what doesn’t.

6. Determine Evaluation Methods

Companies will not be able to identify which marketing strategies and tactics are effective if they don’t implement some form of evaluation in the process. Evaluating marketing comes in many forms where companies can review real data that shows exactly how well a marketing effort is performing. Other marketing tactics aren’t as easily evaluated, but companies can get creative in the way they review and assess their marketing practices.

The point is that it’s important to review each strategy and tactic, and determine the best ways to evaluate them for success, even if the evaluation methods aren’t perfect.