Archive for April 16, 2011

Admin | April 16, 2011
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New Business Marketing Strategy

Each and every business need to have a distinctive business marketing strategy so that you can boost just how much business they’re doing and also to help keep up their customer base in spite of the difficult marketplace and economic conditions. Occasionally, people do not realize the value of a business marketing strategy plus they do not invest adequate cost to come up with something solid and successive.

Each and every business has its own need to boost itself and catering a bigger circle of shoppers every day. And this is what your business marketing strategy need to be about and your business marketing strategy need to identify such objectives and actually need to provide approaches for precisely the identical. Ideally, the marketing program need to be your road map for one more couple of years and actually need to elaborate on what you’re going to accomplish your business objectives.

Most of the times, we develop inadequate business marketing methods to expand the business towards the level initially planning for. The crucial reason for this will be the truth that those that are along the way of enhancement and expansion of the business do not have adequate expertise in the business marketing strategy for the business or they haven’t been educated for a passing fancy.

In case you lack the experience, exposure, along with the education to come up with a extremely effective business marketing strategy, don’t be afraid to appear for aid. You will find so many people available with needed experience and education needed in order to come up with a customized business marketing strategy for your business organization. Just finding a alternative party to style a business marketing strategy for your business might not take your business anywhere. For any successful outcomes of the business marketing strategy, you’ll want to supply sufficient information towards the party which could be crafting the strategy for you personally. You’ve to identify the important thing stakeholders of your business who have the really greatest information in the operational level in order for someone to think of a great business marketing strategy.

The execution will be the central section of the business marketing strategy which has been created for your business. Just for this, you’ll want to pick the greatest those that are great in executing strategic initiatives and drive the force to search for the achievements. Picking this sort of workers for working with a sound business marketing strategy can occur greater level of organizational growth and also greater level of employee satisfaction. By the end, it is a road map for any wonderful culture with strategic focus.

Category: Business Strategy | Tags: , ,
Admin | April 13, 2011
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Small Business Marketing Strategies

Small business marketing strategies identify and implement the goals of the company. A sound marketing strategy is inevitable for the success of any business. The strategy helps to focus the marketing on the business target. Small business marketing strategies include market research, identification of customer groups and target competitors and efforts to tailor the product pricing. The success of the strategy relies on the proper implementation of the formulated methods. It also judges the effectiveness of the marketing plan. Small businesses have unique marketing strategies to meet customer needs, while offering maximum profitability with minimum investment. Attractive marketing materials and ambient after sales support are also a part of small business marketing strategy.

Small business marketing strategies consist of three basic steps. They are increase the number of customers, increase the average transaction amount and increase the frequency of repurchase.

They start with client problems and demonstrate methods to rectify it. This will help to build a network of clients. Consistent after sales support also enhances the popularity and credibility of the product. Marketing strategies also assess the profitability of an approach before actual promotion, to avoid the pitfalls.

Small business marketing strategies include various options to increase business revenue. They try to acquire more customers, sell more expensive products, come up with more profitable products and persuade each customer to buy more. The marketing strategy is developed according to the nature of the product or service. The business concern will tailor the product option according to the target group.

Thus there are premier versions for those who choose expensive goods, comprehensive plans for profit seeking customers and a few basic products. The quality and reliability of products ultimately determine customer satisfaction.

Small businesses also introduce unique marketing strategies to differentiate a company from its competitors. Cause-related marketing is an attractive strategy that helps to gain customer loyalty and media coverage. The association with an organization helps to profit from the situation without much financial burden. Referral marketing is the most powerful, cost-effective marketing strategy. Promotions and offers intimated to the existing database through regular newsletters or mail alerts will help.

Small business marketing strategies are a summary of the goals of marketing plans. They provide guidelines and motivate companies to achieve a competent sales record.

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Category: Business Strategy | Tags: , , ,
Admin | April 8, 2011
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Global Business Strategies

It is expected that First stop Drive-in Theater will face a lot of cultural and social challenges in recruiting its work force globally. This underlines the need to have a global strategic plan besides a business risk analysis. According to ITAP (2010) human capital is one of the most expensive assets in a company. As such the focus of the First stop Drive-in Theater will be in the selection and workforce in US and around the world. In addition this will be followed by nurturing the abilities of the employees so the company can have optimum benefits.

It is a daunting challenge indeed, in recruiting across different cultures and understanding the employees’ motivation on local contexts becomes necessary. This requires the help of the agencies in different locations and who understand their locations and human resource demands better. As such the First stop Drive-in Theater plans to employ consultants and employment agencies who will provide the company with the necessary workforce. The work of building work force at the global level and putting in place compensation and executive evaluation will be left with local agencies. The agencies are to be sourced through competitive bidding and will be charged with the responsibilities of coming up with recruitment processes and filling the positions of senior managers. In addition, the agencies will be contracted to develop the employees in the different locations in the world. As mentioned earlier First stop Drive-in Theater will face a competitive environment not only here in America but also globally. The human Resource contribution in developing the competitive edge cannot be underestimated. This explains why it is important to employ the services of experienced local agencies in recruitment, development and assimilation of the new employees.  The senior managers will then be required to formulate employment policies and plans. The other employees will be acquired through placing advertisements and through interviewing. This however will be done through the coordination with the Human Resource Department in Texas which will have already been set up.

In improving its workforce performance First stop Drive-in Theater realizes the potential of talent management and employee engagement and these principles will be incorporated in the corporate agenda of the company.  In building and sustaining the core workforce capabilities the company will strive to understand the demographics and the capabilities of its employees all over the world. This will also involve assessing the workers performance and coming up with the appropriate feedback. Globalization comes with a lot of challenges and which change according to the different contexts. As such managing and development of the workforce requires collaboration across the boundaries. In addition, this also requires imparting the employees with the skills and capabilities to deal with the dynamic market conditions.

While admitting that the competition is stiff in the entertainment industry First stop Drive-in Theater will be concerned with how its workforce will be of value to the company from the bottom line. However, these are future strategies in increasing the workforce effectiveness. In essence, the global human resource strategy of the company will employ HR support from agencies for a period of one year. The respective agencies will be more resourceful as they have a better understanding of the local business landscape and human resource needs. The managers will also be charged with the task of establishing the formalities and structures of the businesses, establishment of the contracts, compensation and benefits packages for the rest of the employees.

Marketing plan section
Marketing mix analysis

The grand opening of the theatre will serve as a great attraction to the audience and the countdown to its opening will constantly be communicated through local dailies in Texas and the website. Free tickets are in line to promote the opening of First stop Drive-in Theater. The audience will be able to enjoy free snacks and reduction in ticket prices. In particular, an initial ,300 will be allocated for the marketing expenses. The website will cost ,000 to develop and staff hiring is expected to cost ,000 dollars. In the milestones, the initial marketing is projected to cost &20,000 with the film ordering and scheduling taking ,000. The remaining amount is to be spent in the grand opening of the First stop Drive-in Theater in Texas and the preparation of the venue.

Products

The core product will be the films although snacks will also be available to the patrons. The snacks will mainly be candy, popcorn and soft drinks. Pop corn is one of the products available in most movie theaters and as such an industrial popcorn machine will be made available to ensure its constant supply.

Price, place, people and promotion

The booking method still remains as the favorite method of ticketing. The customers will be able to book their tickets over the phone, in person or through the internet. The internet resource is becoming increasingly important and is vital in the First stop Drive-in Theater marketing plan. In exploiting the benefits of web resources the company will develop a website having enhanced ticket reservation facilities. The website will be an important marketing vehicle and movies will be advertised on this resource. Clear schedules will be available and the price of the tickets will be cheaper when bought more than one day prior to the screening of the movie. The website will also be interactive and will also offer forum and chartroom facilities. The fans will be also able to discuss the movies watched and carefully selected topics will be introduced in the forums. The website resource will also be used to place affiliated companies advertisements. In addition, the design of the website will be simple to allow faster loading in the home computers. Links will also be available to the movies being screened. The address of the website address will appear in the printed tickets and will also appear on the printed advertisements. The development of the website will be undertaken by a local website development company and the website will be updated weekly.

Customers will be able to buy movies on the website and this will offer extra revenue from the commissions obtained. Some of the companies that will be targeted to place their advertisements in the website are Warner Bros, Paramount pictures, Magna-Tech Electronic Co, Universal Cinema Services and United International Pictures. The pricing of the tickets will vary with the movie being screened but will generally be lower than the other competitors. However, reduced prices will be offered within the first 3 months to help in attracting the customers. In addition, in order to encourage attendance on the grand opening a car load for five dollars and free popcorn will be offered. . The marketing campaigns will at first be concentrated in Texas and will later be expanded to other states in line with the expansion strategy. This will include placing advertisements in radio stations, TV station, website and direct marketing materials.

Marketing mix analysis

The market positioning of the First stop Drive-in Theater in the marketing mix is also important. The market positioning will be in provision of comfort and entertainment to all but with bias to the families. The families will be able to enjoy well selected films which will be attractive. The market segmentation includes families and young adults. The Families segment will be the favorite in watching old and inexpensive movies as they will be seeking a family oriented entertainment experience. On the other hand, the young adults ranging from 14 to 25 year will enjoy current films which will be available although First stop Drive-in Theater will have a bias towards movies which are family oriented. The young adults will also be entertained with comedy, action and adventure films. With most drive-inn theatres concentrating in screening current and box-office movies the family movies will attract a huge consumers segment.

PEST analysis

Levitt (1983) explains that with the effects of globalization the tastes of consumers are also going global. As such managing such businesses across the borders requires different approach due to the difference in cultural, social economic, political and legal systems. With the challenges in marketing to different cultures, First stop Drive-in Theater considers some steps. One mode of entry the company is considering is making affiliations with other local companies involved in the entertainment industry. Through such arrangements the company will enhance the market penetration with the possibility of total-buy-out of its partner’s share. The global marketing strategy may be affected by the local environments hence the need to have a different approach and disregard the standardized mode of advertising. There indeed a lot of problems in advertising in countries such as Germany where comparative advertising is not allowed. Other countries such as Kuwait also control advertising and hence the needs to rely on other forms of advertising. Due to the dynamic nature of the problems in different countries First stop Drive-in Theater will also look for local solution. Indeed, in China the company is expected to form partnerships due to the need to have close relations with the government.

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