Career Development in Marketing

1. Application of Technology:

Application of technology can aid marketing by the using of technology to reach new and existing customers. It also helps in online marketing by using new technologies like smart phones, CRM systems and as well as social media.

Terms

• Customer relationship management (CRM):

If we use the customer relationship management system in marketing it helps the enterprise to identify and target potential clients and generate for the sales team. This system is used for managing a company’s interactions with customers, clients, and sales prospects it involves organize, automate, synchronize and aid to technical support.

• Social media marketing:

Social media marketing refers to the process of gaining website traffic and attention through social media like websites. It builds a brand personality and creates a direct social network between clients, customers, and organization.

• Smart phones:

The smart phone changes the environment of marketing & advertising there are rapid changes over the last 15 years.

Importance of smart phone:

The smart phone not only a receiver it also transmits information and creates interaction between people. It helps the advertisers and marketers to run marketing campaigns and able to offer more relevant messages to groups as well as individuals.

2. Quantitative Analysis:

According to the quantitative marketing research it is a technique which is used in the field of marketing. This interact both buyer and seller to reach satisfying agreement.

Basically quantitative analysis in the field of marketing means analysis of situation of market and its events.

Benefits:

It helps to solve the marketing decision problems. Evaluating such areas of competitive strategy, marketing mix analysis, pricing, promotion, distribution, and product policy.

Importance of analysis and there reasons:

The questions and problems arise during analysis:

• Who are our customers?
• How competitive current market landscape?
• How risky is entering to market?
• How efficient our branding efforts?

In order to get correct concise and relevant answers you should analyze market.

1. Puts your customer first:

• Give them what they need
• Do the work for them
• Listen them

2. Analysis help to force companies to look inwards:

If we start our company or managing one it’s difficult to look our product or service offering from a truly objective perspective because how much you have invested. Analysis forces to company to look inward and ask, (why would consumers come to us)?

3. Analysis Helps Determine Your Unique Sales Proposition:

There are five ways a company can differentiate their product and services. Analysis enables you to determine which of these methods of differentiation would be the most effective way to enter the market.

• Brand:

Companies differentiate themselves by brand by standing for something or associating their brand with a cause.

• Product:

Companies differentiate themselves by product by positioning themselves as the highest quality product on the market.

• Service:

Companies differentiate themselves by service by offering a one-of-a-kind experience for their customer; this is typically done by showing exceptional customer service.

• Price:

Companies differentiate themselves by price by positioning themselves as the most affordable or even the most expensive.

• Audience:

Companies differentiate themselves by audience by branding their product or services to specifically aid or benefit a certain group or type of person.

“Marketing Analysis is important for making data-driven decisions for business”.

3. Creative Production:

• Step out on the streets:

Go old school with flyers and poster in local cafes, do some sidewalk chalk writing. This strategy is most effective for locally oriented businesses, but it can work for anyone.

• Commission a mural:

Try getting permission to decorate the side of a prominent building with a large mural.

• Use your surroundings:

Get a little imaginative and think about how you can use your surroundings for potential marketing magic.

• Unusual sponsorships

Urban living results in some unique marketing opportunities you won’t find elsewhere. They secret is, you need to think creatively to capitalize on these opportunities.

4. Counseling and Mentoring:

Develop your own personal relationship in every field especially in the workplace to help people as well as in other careers like human resources, nursing, training, mentoring in any field etc.

6 important steps which helps to marketing mentoring program:

• Define overall benefits and requirements:
• What are the benefits of this mentoring program for the organization?
• Who will it benefit and why? (Sell it.)
• What are the requirements to be a mentor or mentee? (Keep the simple)
• Define your target audience:
• Like any other marketing plan you need to define who you are marketing to. Who will be your mentors, mentees, referrers and advocates? Will you be in a situation where individuals will volunteer themselves; will individuals be referred by others (i.e. a manager); and who will your “advocates” be for the program?
• Set goals to your marketing efforts:
• Goals are to be set for mentoring a program.
• Agree on marketing channels:
• This is where marketing channels are selected based on how your current target audience is most conveniently engaged. We recommend choosing a combination, remember not everyone reads all their emails, but may be more engaged in joining a company event. We recommend choosing from email, advertising on career portals, manager referrals, webinars, company events, basic signage (posters, flyers around the office) or an Internal News source (newsletter).
• Create your marketing project plan:
• Your project plan should be your guide of actually getting the work done. We recommend including
• Setting specific tasks
• Each task has a deadline and accountability
• Break the plan into phases, launch and then ongoing communications
• Keep the plan updated and have regular meeting with any individuals who have a task assigned to them; otherwise you marketing won’t get done.
• Start creating communications:

When creating your communications consider these tips.

• First consider communicating to managers. Managers are known to be great mentors and also referrers for mentees.
• Create communications first to the most effective communication channel.
• Remember to include that this program is voluntary, don’t include phases that tells employees they must be a mentor.
• Include your benefits and requirements to the program

5. Managing People

Effective leadership and management of staff is a key attribute of a good manager. An effective team leader can achieve its organization goals. A leader can only be understand the basic principles of organization and staff when he/she is an effective and work as a front line manager.

A good and effective leader must have these qualities.

• Creative and innovative
• Strategic follower
• Co-operative
• Thriving in a competitive global market
• Leverage influence for the team
• Approachable
• Consistent
• Calm/stable
• Self aware

6. Enterprise Control

Enterprise control is the ability to combine all the controls inclusive of all business, production, management.

Basically enterprise control is used to make ultimate strategies and goals and implement in a profession, business and in career to check whether the objectives of the marketing function are achieved or not.

There are basically four types of ultimate controls

• Strategic control

Strategic control helps the organization to evaluate its strategies by focusing on the outcomes of the activities undertaken. It is further divided into four components: premise control, implementation control, strategic surveillance, and special alert control.

• Annual plan control

Annual plan control involves the use of annual marketing targets as performance standards. Projected values of sales volume, market share, and profits are some of the typical performance standards under this type of control. Two important techniques used for tracking results and comparing them with standards are variance analysis and marketing expenses-to-sales analysis.

• Profitability control

Marketing profitability is the profitability achieved through the performance of marketing activities and is calculated based on the investment made in these activities. Some of the techniques used for profitability control are Strategic Profit Model, segment margin report, and activity based costing.

• Efficiency and effectiveness control

Efficiency control is more of a quantitative control and deals with the efficiency with which the marketing activities are directed toward the achievement of the goals of the marketing function. Here, the controls mainly focus on the sales volume, the sales generated by each salesperson, number of accounts handled by each salesperson, etc. Effectiveness control, on the other hand, is qualitative in nature and aims at improving the effectiveness of the marketing activities. The marketing effectiveness of any organization is reflected through its market share, profitability, customer satisfaction, etc. It is not easy to audit, measure, or control. It depends on attributes like customer philosophy, marketing orientation, information about marketing, strategic orientation, and operational efficiency of the organization.

7. Influence through Language and Ideas

Language is a powerful weapon, especially in the marketing industry. It has the power to convince consumers and drive sales or it can upset and turn away your customers.

Influence people by using different ideas and languages are

• Run emotional ideas
• Promote exclusively
• Social platforms
• Ads
• Pre event marketing