Class 4 Notes for E-commerce

Learning Objectives:

You will be able describe the parts of a marketing plan.

You will be able identify the four Ps of a marketing mix.

You will be able to create the first part of your business plan

Homework:

Read: Book X

Read: Answer 10 Questions to create a Small Business Marketing Plan

Read: How to use Social Media for your Small Business

Watch: Target uses Data mining to know their customer.

Post: Find additional Marketing Plan Websites post under Discussions > Marketing Websites

Watch: Video

Product, Price, Placement, Promotion
(The 4 Ps of Marketing or "the Marketing Mix")

Price: finding the balance between making the product at a profit while not pricing the product too high.

Product: Finding what fulfills a customer's need.

Placement or Perception: Where do you sell the product and what do your customers think about the product. (IE Walmart vs Macy's - Top Quality vs inexpensive)

Promotion & Branding:: How do you get information about your product to the consumer and why your product is the best one to meet their needs

 

 

You should be able to answer all the following questions in your Marketing plan:

Marketing Strategy: How will your marketing plan meet your business's goals?

Mission Statement: What are you trying to accomplish, and why?

Target Market: Who are you trying to reach with your marketing activities? (one of the P's)

Competitive Analysis: Who are you up against, and where do you rank? (one of the P's)

Unique Selling Proposition: What makes your business unique? (one of the P's)

Pricing Strategy: What will you charge, and why? (one of the P's)

Promotional Plan: How will you reach your target market? (one of the P's)

Marketing Budget: How much money will you spend, and on what?

Action List: What tasks do you need to complete to reach your marketing goals?

Metrics: How are you implementing, and where can you improve?

 

 

 

Take: Brand Quiz (Do you recognize the product?)

Review: The ABCs of Internet Marketing and writing a Marketing Plan

Start Your Marketing Plan (post in Canvas in Marketing under Assignments section when completed ) This assignment is not due until later in the semester.

Reminder: Post your articles on Canvas under the Weekly Articles on the Discussion Board Section.

Topics Covered:

You should be able to answer all the following questions in your Marketing plan:

Marketing Strategy: How will your marketing plan meet your business's goals?

Mission Statement: What are you trying to accomplish, and why?

Target Market: Who are you trying to reach with your marketing activities? (one of the P's)

Competitive Analysis: Who are you up against, and where do you rank? (one of the P's)

Unique Selling Proposition: What makes your business unique? (one of the P's)

Pricing Strategy: What will you charge, and why? (one of the P's)

Promotional Plan: How will you reach your target market? (one of the P's)

Marketing Budget: How much money will you spend, and on what?

Action List: What tasks do you need to complete to reach your marketing goals?

Metrics: How are you implementing, and where can you improve?

 

 

 

Why Marketing is important?

You need to know what the customer wants and what they will be willing to pay for what they want.

Did you know from You Tube gives you an idea of how your customer base is changing.

What is Marketing and what is the difference between E marketing? What are the specialties in marketing?

 

Internet tools to get and keep customers.

Stickiness or giving your potential customer a reason to come to your site multiple times? Will bringing people to your site equal sales? The ultimate sticky site is Apple iTunes and Movie trailers

Keep old customers with E-Newsletters (Constant Contact is a great tool for newsletters)

Blog about your product and its many uses.

Buzz Marketing: Don't forget the power of Good or Bad Customer Service! Word of mouth at the speed of light!

Affiliate Marketing is working with other sites to promote or funnel traffic to your website

The Relationship of your SEO, marketing plan and your business plan

Tips for using your Website as a marketing tool.

Make sure you have phone numbers, e-mails, updates, Have "how to use your product" pages and FAQ for your products. Collect Demographic data from users of your site.

Search Engine Strategies: Meta Tags, Title Tag, First couple of lines of Text, Submission and Payment for placement.

Sell your product by using E-newsletters Example: Chicken for the Soup E-Newsletters

Live (Web services) is suppose to next direction for Microsoft! Live is suppose to complete with Google and Yahoo.

E-Marketing Strategies and INC.com Marketing site has everything you could want!

 Demographic Data is very important.

USAGov is a portal for government information

 

Take a stance with Change.org and start an Online petition. Just ask Bank of America.

Terms:

Spam, E-Newsletters, Placement, Meta Tags, Demographic Data, Buzz Marketing, Spider, Hit, Per Click