Marketing Strategy Projects
Marketing managers use strategy to identify potential customers, pinpoint sales needs, produce products that satisfy those needs, then craft and communicate product messages. Successful marketing strategy requires creative and insightful plans and projects. Customer preferences change quickly, so many marketing managers divide strategy execution into several short-term projects that add up to longer-term marketing strategy.
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Research
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Marketers use research to gather market insight. Past performances help forecast future business, so marketing managers scan through collected business data to plan for projects. Information from business databanks is helpful, but often not enough to identify new customer needs. Marketing managers create market research projects that look into the habits and characteristics of potential customers to predict trending products and features. Most large corporations have separate marketing research departments; smaller companies might have one market researcher or conduct regular market research projects.
Development
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Once research determines what consumers want, it's time to develop a product that satisfies those needs. Though engineers, designers and inventors physically make the products, markets conceptualize and use their research to guide development projects. Products must have uniqueness so that consumers see the item as different from competitors. Unique development points might include product features, quality and price. Most consumers look for value, so marketers strive to develop a product that offers the highest possible quality for the price.
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Customer Acquisition
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Research and development can create the best product in the world, but that won't matter if customers don't buy it. Customer acquisition projects encompass the activities that most people think of when they hear the term "marketing." Crafting advertising messages and choosing media outlets creates product awareness in the consumer mind. Customer acquisition happens when the ideal consumer receives the product message at a time when she's ready to buy.
Customer Relationship Management
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An acquired customer becomes a loyal customer if she remains happy about her purchase. Customer relationship management (CRM) projects are marketing activities that happen postpurchase to ensure continued patronage. CRM activities include frequent buyer programs, club cards and customer service. Businesses focus on CRM programs because loyal customers provide the highest profit margins. The company doesn't need to spend any marketing money to gain their attention and they often tell others about their positive experiences with the product, which equals free advertising.
Marketing Logistics
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Logistics projects determine when and where the company sells the product. It also could include adverting logistics, such as they type of media for adverting placements and the chosen media channel. Logistics should match the other goals of the product marketers and fall in line with the product's research and advertising messages.
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References
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