a particular strategy is chosen at a particular level, its outcome becomes the goal of that particular level. If there is an absence of a well thought strategy in a marketing plan means it is supposedly lacking a good foundation. A reasonable marketing strategy should not only facilitate marketing goals, but also the action sequence of a campaign.
At regular time intervals the firm should analyze the marketing decision. This is done with the help of strategic models and the 3C's model is considered for this purpose. To calculate the company's strategic position, Ansoff matrix is used. The 3C's model determines the factors, which leads to the success of a marketing campaign. There are three key parties involved in this model the corporation, the customer and the competitors. The involvement of all the three key parties leads to positive results and this involvement is known as the 3C's or strategic triangle.
The role of the corporation is to increase the strength of the company in the success critical areas, when compared to that of the competitor. The customer and his interest form the basis of any strategy. The competitor also plays a vital part. The competitor-based strategies are based on the functioning of business competitors like design and engineering, sales and servicing, and purchasing.
When making a marketing plan depending on some particular strategies known as mix strategies are used. 4P's model is used to calculate whether the plan is sticking to the strategies or not. The four Ps stand for product, price, place and promotion. Products are goods produced by the company on a huge scale for the purpose of selling them and earning profit. Price is the money paid for a product by the customer.
The price is based on many factors like competition, market share, customer perception and product identity. Place where the product is sold can be either physical store or store on the Internet. It is also known as distribution channel. To make the customer knowledgeable about a product, the marketer does promotion. It involves advertising, public relation and point of sale.
There are different types of marketing strategies based on some criteria. Challenger, Leader and Follower are types of market dominance strategies. Market dominance strategies are used to dominate the market. Cost leadership, Market segmentation and Product differentiation are types of porter generic strategies.
Porter generic strategies are built on strategic strength or competing abilities and strategic scope or market penetration. Close followers, late follower and Pioneers are types of innovation strategies. Innovation strategies are meant to trigger the rate of product development and model innovation.
It helps the firm to incorporate latest technologies. Intensification, Diversification, Vertical integration and Horizontal integration are types of growth strategies. Growth strategies facilitate the growth of the organization. Marketing warfare strategies are conjunction of marketing strategies and military strategies.
A marketing strategy or a mix of them is chosen only after thorough market research. A marketer should always be ready to face any kind of situations like if the strategy is changed in the middle, he should be able to perform another market research so as to choose the proper strategy, within a short period of time. This can be done easily if you have experience.
Chapter 9: Make Your Joint Venture Proposal Convincingly Irresistible
If you do not know anything about it yet, joint venture is a scheme that will help you a lot. It does not cost much, or may not cost you anything at all. There are many ways to conduct joint venture partnership, but it will be very helpful for you to have an affiliate program.
Doing a joint venture partnership, either with a non-competitor or a competitor will mutually benefit both your online businesses. It allows both the joint venture partners to leverage on the existing resources of each websites involved in the joint venture. Instead of having second thoughts about it, why don't you try it and see for yourself the results will be reflected on your site.
Deciding to do a joint venture partnership with other complementary web sites also allows you to provide your products and services and sell them on your partner's website. You can invite the webmaster to do so likewise in your site. There is lots of other marketing opportunity presented in a joint venture deal. What's more, it will not involve any expenditure on your part. Ideal, huh.
Well, if you are moved to a decision already, then all you need to do is plan your goals and start searching for ideal, credible and reputable web sites where you will give your proposal. Research your target partner web sites and their companies thoroughly.
Whatever may come up in the research may be important for you to know what they would most likely be looking for. Reading their mission statement can make you see how they make decisions.
When you finally made up your list of prospects, then you need to do joint venture partnership proposals. Here are some valuable pointers for you to write irresistible joint venture proposal.
Actually, the proposal you will write is a formal way or approach to a joint venture partnership prospect. Bare of all fancy wordings, it only means, "Let's do a deal."
Some proposals are far more successful and bring out positive results. This is true to brief and to-the-point proposals. Some long-winded and stereotypical proposals with pages and pages of technical jargon are usually ignored. Well, it is quite understandable.
Anyway, whatever partner you target for your joint venture project, a webmaster, ezine publisher, business owner, competitor, and the same questions would pop out of their heads once they receive and read your proposal. They would all be wondering what benefit they will get out of such a set-up you are proposing.
Therefore, however brief your joint venture proposal may be, its core should focus on explaining what benefits they would get out of agreeing to the proposal. Be straightforward in telling them what is in it for them. Once you have this pointed out, you need to go into details.
Remember always that your offer must cut straight to the heart of the matter, relevant and assure the partner of its being highly beneficial to both your clients. Remember, money is not always the thing they are after.
When you write your joint venture proposal be aware of what may really capture their interest. Make each offer so tempting, they would hesitate to turn it down. Each target partner deserves a totally different proposal according to your research on what is important for them.
Although not in too much length, describe the benefits of the partnership you are proposing. Continue on researching about them as you write your proposal. Make it easy for them to arrive at a decision and say "yes".
Do not let your proposal go too far out and complicated though. Busy people cannot be bothered with such long-winded citations. Sometimes, too, people are just too lazy to care on reading on. As you draft your proposal, continue on simplifying it.
Of course, even if you sense from your research that they are not interested in the money, still make them see there is a potential earning to be had once they say yes. Always be scientific in explaining these. Do not give them falsehoods, for they also know their statistics.
Compose the proposal with personal undertones, as if you know him/her as a friend. Relate well with them and make them understand you are not just a machine ordered to compose something. It is also a good step to building rapport with them. Trust is an aspect that is hard to win from others but will reap great results once achieved.
Finally, if you want to really make an impact, send your proposal as a hard copy via FedEx. Sometimes, Email can be easily ignored, erased and forgotten. You can also add a note of urgency and hint that you will not wait too long to hear from them. However, do not appear arrogant, overbearing deceptive and unrealistic. Coin
