Marketing Executive Summary The major objective of my marketing team is to find out strategies that can be used to solve the problem of slipping revenues and store sales remaining flat in global gadgets import. My major recommendation in my teams marketing plan is that we use marketing metrics. The use of marketing metrics can increase revenues and increase total sales of GGI. I also recommend that our major focus on finding an appropriate marketing metrics for a specific activity for instance realizing effectiveness of having advertising campaigns and the relationship between marketing metrics.
Important marketing metrics for my teams’ marketing plan are: direct mail, advertising, and return on investment (ROI). Direct mail is very important for medium and small businesses that aim at expanding their markets. Direct marketers carry out their marketing campaigns with an aim of achieving tangible value for their organization and companies. When carrying out the marketing campaign, we will consider the target audience, the offer and the creative. When targeting the audience we will consider demographic factors like gender, income, age and geographic location. These marketing metrics can be used to increase the sales of house wares for instance the target audience for this product are women.
Direct mail can be used to create awareness about the product which can result in increase sales of house waves. This can be done by my team members focus on competition by offering free samples, providing free downloads, contests and sweepstakes. Advertising is a measure is a promotion method for company’s products. Advertising contains information about a service and idea or a product.
It creates awareness to people about the availability of the product (Hallerman, 2009). If advertising of house wares is done by GGI consumers will be aware of the product which may lead to an increase in consumption of the product hence increasing its revenue and amount of sales. GGI can also advertise its product in a different media and this may also help in retaining customers of the product. Advertising retains older demand and also creates new demand hence increasing the sales of the product (Rutz & Buckli, 2009). Customer relations management involves considering the relationship between the supplier and the customer.
In target marketing companies aim at expanding their market share by having good connections with their customers and providing customers with products that satisfy them. Marketers try to approximate customer’s value in the long run (Carol, 2002). It is very important for marketers to create a good relationship with their customers because it retains customers hence selling more of the product. GGI may improve upon customer relations management by making sure that they provide customers with consistent services or products at competitive prices.
GGI should also have customer intimacy for instance they should deliver goods that there customer want. This company should also adopt product leadership for their products. I recommend that advertising is the most appropriate marketing metrics to be used at this stage. This is because through advertising GGI will be in a position to create awareness of the product to consumers. With advertising the targeted group can be easily reached and this will result in an increase in the sales of the product because of the increase in demand.
Another reason why GGI should use advertising is that it is cost effective compared to other marketing metrics. This will assist the company to reduce on advertising costs. Advertising will help in solving the problem of store sales remaining flat and slipping of revenues. References Carol, K. (2002). Customer Relationship Management. New York: McGraw-Hill, 2002. Hallerman, D. (2009). US advertising spending: The new reality marketer technical report. Retrieved on 23 March 2012 http: //www. emarketer. com/Report. aspx? code=emarketer_2000576. Rutz, O. & Bucklin, R. (2009). The effects of Internet banner advertising exposure on within-site browsing behavior.
Working paper, Yale University, New Haven, CT.