E-Marketing Strategy Overview
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Questions and Answers

What is primarily used to achieve the objectives of a marketing plan?

  • Tactics (correct)
  • Budget analysis
  • Evaluation metrics
  • Return calculations

    • Which of the following is NOT a tactic mentioned in the implementation plan?

  • Internal rate of return (IRR) calculation (correct)
  • Marketing mix tactics
  • Relationship management tactics
  • Web site log analysis

    • Which calculation helps assess the profitability of marketing investments?

  • Cost/benefit analysis (correct)
  • Customer satisfaction index
  • Market segmentation
  • Product differentiation

    • What approach must marketers take to measure the success of their marketing plans?

    <p>Use continuous evaluation</p> Signup and view all the answers

    Which metric is specifically highlighted as necessary for demonstrating the value of intangible goals?

    <p>Return on marketing investment (ROMI)</p> Signup and view all the answers

    What tactic involves analyzing data from a website to gather marketing insights?

    <p>Web site log analysis</p> Signup and view all the answers

    Which financial analysis method is least likely to be mentioned in a marketing budget discussion?

    <p>Competitive analysis framework</p> Signup and view all the answers

    What is the primary purpose of an e-marketing plan?

    <p>To serve as a blueprint for strategy formulation and implementation</p> Signup and view all the answers

    Which option describes the napkin plan?

    <p>A basic plan where entrepreneurs jot down ideas casually</p> Signup and view all the answers

    Which strategy is NOT part of Tier 1 e-marketing strategic planning?

    <p>Product development</p> Signup and view all the answers

    What is a measurable aspect of an objective in an e-marketing plan?

    <p>How much of an objective is to be accomplished</p> Signup and view all the answers

    Which of the following is not considered a Tier 2 e-marketing strategy?

    <p>Segmentation of the target market</p> Signup and view all the answers

    In the context of e-marketing strategies, what does CRM stand for?

    <p>Customer Relationship Management</p> Signup and view all the answers

    What is the first step in the seven-step e-marketing plan?

    <p>Situation analysis</p> Signup and view all the answers

    Which of the following is a component of Tier 2 strategies in the e-marketing plan?

    <p>Dynamic pricing</p> Signup and view all the answers

    Which component of the implementation plan focuses on analyzing relationships and departmental structures?

    <p>Marketing organization tactics</p> Signup and view all the answers

    What metric is essential for demonstrating the effectiveness of intangible marketing goals in driving revenue?

    <p>Return on marketing investment (ROMI)</p> Signup and view all the answers

    Which tactic is specifically used to collect data for informed decision-making in marketing plans?

    <p>Business intelligence</p> Signup and view all the answers

    Which financial measure indicates the relationship between the profits generated from marketing investments and the cost of those investments?

    <p>Return on investment (ROI)</p> Signup and view all the answers

    What is the main purpose of conducting a situation analysis in the e-marketing plan?

    <p>Assess external competition and internal capabilities.</p> Signup and view all the answers

    What is a crucial characteristic of metrics used to evaluate marketing plan success?

    <p>They need to be accurate and timely.</p> Signup and view all the answers

    Which of the following components is essential for defining objectives in an e-marketing plan?

    <p>Measurable quantity.</p> Signup and view all the answers

    In the context of e-marketing strategies, what does the targeting process involve?

    <p>Choosing specific segments from broader markets.</p> Signup and view all the answers

    Which of the following is a characteristic of the tier 2 strategies in the e-marketing plan?

    <p>They encompass strategies related to the 4 P's and relationship management.</p> Signup and view all the answers

    Why might an entrepreneur use the Venture Capital E-Marketing Plan?

    <p>To create a comprehensive approach for seeking investment capital.</p> Signup and view all the answers

    Study Notes

    E-Marketing Plan Overview

    • A roadmap for e-marketing strategy, resource allocation, and decision-making

    Types of E-Marketing Plans

    • Napkin Plan: Simple, informal plan often used by entrepreneurs
    • Venture Capital E-Marketing Plan: Comprehensive plan for businesses seeking funding

    Seven-Step E-Marketing Plan

    • Step 1: Situation Analysis

      • Review company's environment, SWOT analysis, existing marketing plans, and e-business objectives.

    • Step 2: E-Marketing Strategic Planning

      • Tier 1 strategies:
        • Segmentation: Dividing the market into groups with shared characteristics
        • Targeting: Selecting specific segments to focus on
        • Differentiation: Creating unique selling propositions
        • Positioning: How a product is perceived by target customers relative to competitors.

    • Step 3: Objectives

      • Define tasks, measurable quantities, and timeframes for each objective.

    • Step 4: E-Marketing Strategies

      • Tier 2 strategies:
        • Product Strategies: Developing product features and offerings
        • Pricing Strategies: Dynamic pricing and online bidding models
        • Distribution Strategies: Direct marketing and agent e-business models
        • Marketing Communication Strategies: Targeted messaging and online advertising
        • Relationship Management Strategies: Using CRM and PRM software for customer and partner communication.

    • Step 5: Implementation Plan

      • Tactics to achieve objectives include:
        • Marketing mix (4 Ps) tactics
        • Relationship management tactics
        • Marketing organization tactics (staffing and structure)
        • Information-gathering tactics (website analysis, business intelligence, and secondary research)

    • Step 6: Budget

      • Identify expected returns on marketing investments through:
        • Cost/benefit analysis
        • ROI calculation
        • IRR calculation
        • ROMI Calculation

    • Step 7: Evaluation Plan

      • Continuous evaluation and tracking systems to measure results
      • Relate metrics to specific plan goals
      • Demonstrate ROI for both tangible and intangible goals
      • Justify expenditures with accurate and timely metrics

    E-Marketing Plan Overview

    • A blueprint for developing and implementing an e-marketing strategy.
    • Serves as a roadmap for allocating resources, making decisions, and guiding the organization.

    E-Marketing Plan Types

    • Napkin plan: A quick and informal plan, often used by entrepreneurs.
    • Venture Capital E-Marketing Plan: A more comprehensive plan designed for entrepreneurs seeking start-up funding.

    Seven-Step E-Marketing Plan

    • Step 1: Situation Analysis:

      • Review environmental and SWOT analyses
      • Analyze the current marketing plan and gather data about the company and its brands.
      • Evaluate e-business objectives, strategies, and performance metrics.

    • Step 2: E-Marketing Strategic Planning:

      • Tier 1 strategies:
        • Segmentation: Dividing the market into smaller, more specific groups of consumers.
        • Targeting: Selecting specific market segments to focus on.
        • Differentiation: Creating unique selling propositions (USPs) to stand out from competitors.
        • Positioning: How a product is perceived by target customers relative to competitors.

    • Step 3: Objectives:

      • Defined by a task, measurable quantity, and timeframe.

    • Step 4: E-Marketing Strategies:

      • Tier 2 strategies:
        • Product strategies:
          • Pricing strategies: Dynamic pricing, online bidding.
          • Distribution strategies: Direct marketing, agent e-business models.
        • Marketing communication strategies:
        • Relationship management strategies: Using CRM (customer relationship management) or PRM (partner relationship management) software.

    • Step 5: Implementation Plan:

      • Tactics: Actions taken to achieve plan objectives.
      • Marketing mix (4 Ps) tactics:
      • Relationship management tactics:
      • Marketing organization tactics: Staff, department structure.
      • Information-gathering tactics: Website log analysis, business intelligence, secondary research.

    • Step 6: Budget:

      • Cost/benefit analysis.
      • ROI (Return on Investment) calculation.
      • Internal rate of return (IRR) calculation.
      • ROMI (Return on Marketing Investment) calculation.
      • Identify expected returns from marketing investments.

    • Step 7: Evaluation Plan:

      • Continuous evaluation for success.
      • Tracking systems to measure results.
      • Metrics tied to specific plan goals.
      • Demonstrate how intangible goals lead to higher revenue.
      • Justify marketing expenditures with accurate and timely metrics.

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    Description

    Explore the essentials of e-marketing plans including various types and the seven steps needed for effective strategy development. This quiz covers components like situation analysis, strategic planning, and objective setting to enhance your understanding of e-marketing.

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