- 24 Mar, 2021
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Marketing
Please write a 2 paragraph response to each of the following posts. Please use two references each.
Susan
In this posting we are to discuss what the key elements of strategic planning, marketers must consider when developing their strategic marketing plan? The explain how those elements differ from a more general strategic plan? To achieve this, we are to illustrate our points through examples using a publicly traded company or a company with whom you are familiar.
The four key marketing principles are Specialization what area you’re specializing in for product or service, Differentiation: what makes you stand out from others, Segmentation: who’s your target audience and why and Concentration and of that segmented group which area will you focus on. For this posting I’ll be using the company I currently work for who in the 4thquarter of 2018 starting their marketing plan throughout the US on the rebranding of our name from many to one. For example, in Florida some of our hospitals were call Florida Hospital ( then their name usually by location) like Florida Hospital Wesley Chapel, Florida Hospital Tampa, others used locations as their main name like Orlando Regional, but all belonged to the parent company of Adventist Healthcare. For the three months throughout all areas where there is an Adventist Hospital the areas have been blanketed both from a corporate and local market level to explain the unification of the company under one name Advent Health. The main point of the marketing was to let the public know that the only thing change was our name not the quality of our care. Where healthcare differs in marketing from a more general strategic plan is that the target market is everyone within a specified 360 degree zone location from the hospital. That location can and many times does crosslines with sister hospitals as well as hospitals from other companies all of whom are competition to our hospital. The same holds true for the physicians that come to our hospital to do surgeries etc. Our hospital is one of many that they utilize so we also have to market to their wants and needs in hopes that these physicians bring more patients to us and not our competition.
Dustan
Introduction
The purpose of this discussion is to discuss key elements of strategic planning marketers must consider when developing their strategic marketing plan and how these elements differ from a more general strategic plan. This will be discussed with examples of a publicly traded company.
Elements of Strategic Planning for Marketers
At the core of strategic planning, in the context of the digital transformation, is an understanding and use of fundamental attributes and core values of the digital culture which guide strategy and decision-making (Kaufman & Horton, 2015). General marketing strategy must transform from traditional silo operations, with controlled communications, into digital marketing with open two-way communication, strategically encouraging collaboration and joint decision-making (Kaufman & Horton, 2015). Kaufman and Horton (2015) explain that today’s customer expects the real-time engagement inherent in digital marketing. An implication for a manager is to strategically plan with this understanding to take advantage of digital marketing for customer engagement.
Applying strategy to marketing is important and has changed, and the strategic marketer must understand both the importance and the change. The digital age has pushed marketing strategy to harness data collection and the vast amount of available information (Grenci, 2015). Big data, which represents this massive abundance of available information, is now available for discovery, analysis, and strategic marketing (Grenci, 2015). The ability to analyze sales and marketing data with strategy is a valuable tool for a marketer and business curriculum (Grenci, 2015). A marketing manager may use this understanding to increase education in this area with a focus on strategic marketing.
Conclusion
Marketing strategy must transition to closed communication to open two-way communication, with collaboration toward a goal of strategic decision-making. The digital age includes important and useful information about the customer. The strategic marketer may take advantage of digital marketing, which includes an abundance of available information for analysis, and better understanding of the customer, for enhanced customer engagement.
References
Grenci, R. (2015). Incorporating Business Intelligence Into Marketing and Management-Related Coursework. Academy of Educational Leadership Journal, 19(1), 217–226. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=eue&AN=108525863&lang=es&site=ehost-live
Kaufman, I., & Horton, C. (2015). Digital marketing: Integrating strategy and tactics with values. New York: Routledge.
Lisa
The emerging digital culture has changed the face of digital marketing (Kaufman & Horton, 2015). The digital culture has allowed all people to make an impact disseminating ideas and innovations easily and through digital media. The digital footprint is reshaping the human experience and integrating digital into every aspect of our daily lives. Taking advantage of this digital transformation is essential for every organization to achieve lasting success (Kaufman & Horton, 2015). Historically, organizations have existed in silos and controlled the information flow. This control does not exist any longer. Digital transformation must continuously evolve to ensure that shared information exists, deeper connections are developed with future consumers and that the organization continues to evolve.
Organizations must consistently address the needs of their consumers and the markets that are served by those customers (Venter & Van Rensburg, 2014). Modern marketing has to plan for the emerging digital culture in gaining market share and building sustainable growth (Salmani, Daraei, & Bayazdi, 2014). Marketers must know what type of technology is on the horizon and get to the technology before competitors. Millennials have a greater interest and drive for consuming the digital culture than the older generation and marketers have to understand this. Even more so, the younger generation than the millennials have grown up with the digital culture and know nothing different. This generation will expect even more. Strategic planners must plan for the evolution of digital marketing and the impact that it will have on all future generations.
References
Kaufman, I., & Horton, C. (2015). Digital marketing: Integrating strategy and tactics with values (15th ed.). New York, NY: Routledge. ISBN: 9780415716758.
Salmani, D., Daraei, M. R., & Bayazdi, A. (2014). Investigating important factors influencing on strategic marketing planning. Management Science Letters, 4(2), 251–254. Retrieved from http://www.growingscience.com/msl/Vol4/msl_2013_406.pdf
Venter, P., & Van Rensburg, M. J. (2014). The relationship between marketing intelligence and strategic marketing. South African Journal of Economic and Management Sciences, 17(4), 440–456. Retrieved from http://library.capella.edu/login?url=https://search-proquest-com.library.capella.edu/docview/1560907009?accountid=27965
Adam
Clarifying the organization’s objectives in ways that are profound and have awareness of the competitor’s brand strength in the digital marketplace. Use innovation groups to identity marking opportunities and collaborate on the tactical digital approach. Target possible emerging markets and develop a strategy to create awareness and solutions. Build promotional campaigns that drive awareness of the need that lead to your organization’s solution (Satell, 2013). Advertising has emerged from a static branding concept into a complex, expensive, and analytical approach that reaches a larger audience than ever before.
References
Atchison, S., Burby, J. (2015). Does it work?: 10 principles for delivering true business value in digital marketing (1st ed.). New York: McGraw-Hill Education.
Satell, G. (2013). 4 Principles of Marketing In The Digital Age. Forbes. Retrieved from https://www.forbes.com/sites/gregsatell/2013/04/16/4-principles-of-marketing-strategy-in-the-digital-age/#13e29cc26267