Marketing plays a crucial role in the success of a business (Morgan et al., 2019). This marketing plan aims at promoting and increasing the sales volume of an e-commerce company, which I started to deal exclusively with electronics. The main products sold in this company are phones and tablets.
Every business person has a goal to achieve within a specified period. In this marketing plan, the following are my goals.
In the contemporary world, most businesses are affected by stiff competition. A lot of research has been done on the methods to control the game in different industries (Fahy and Jobber, 2015). However, my strategy will be unique. After thorough research, I realized that there are a good number of both online and offline retailers who are dealing with the same product.
In the e-commerce industry, different giant companies have existed in the market for a long time, such as Amazon, E-bay, and Alibaba. However, the online environment enables small firms to compete with well-established organizations. Therefore, I will use effective strategies to gain market relevance.
After a thorough review of the competitors’ strategies, I decided to focus on their weaknesses. Higher prices and slow processing of orders were some of their weaknesses and threats. Therefore, the provision of quality products at relatively lower prices would be one of my strategies to prevent competition. Additionally, ensuring secure and faster processing or order will also be my other strategy alongside the differentiation of products to meet the needs of customers.
Over the years, there has been a rapid increase in the use of the internet among the youth. The internet can be accessed from almost all countries in the world (Baltes, 20160. Moreover, the cost of accessing the internet is relatively cheap to afford. Research shows that youth are using the internet more frequently than older people. People who are between the ages of 18-25 spend a lot of their free time on the internet. They do so using smartphones, tablets, and other electronic gadgets used for browsing. Furthermore, the youth are fond of acquiring new devices that are on the market. Therefore, my potential buyers are the youth.
This market plan will address the three stages of consumer buying decisions. The first stage is awareness (Baltes, 2015). Since online content is concerned, the marketing plan focuses on the provision of individual information about the products. The online platform of the company provides both positive and side effects of the particular products. Therefore, the buyer will have access to all relevant information on the product before making a purchase.
The next step is a consideration. The marketing approach enables the buyer to make independent decisions on whether to buy the product or not (Baker and Saren, 2016). Therefore, the company will not compel consumers to make purchases. Additionally, buyers will have the opportunity to choose the product which they want from the display. The decision to buy will depend on customer preferences. The company will provide goods following the market requirements.
Currently, the business has a net income of US $5,000. The main goal of this marketing plan is to double the net income to the US $ 10,000 or more for the next two years. This will result from the expected increase in the number of customers. My unique selling proposition will result in online purchases. My target is to reach potential customers from different countries.
For this to be effective, I will use integrated marketing communication, which involves the use of social media platforms to advertise. After doing market research, I realized that Google was one of the best advertising agencies as far as online advertising is concerned. Therefore, I will create an account with Google AdSense. Therefore, additional ad pop up will appear on the screen on anyone who is searching about phones and other electronics.
Additionally, the brand is one of the best strategies of a business. On that note, I will develop a unique business logo and post it to various social media platform including google AdSense. In the long run, the brand will lead to increased competitive advantage. The goods will also be differentiated to meet the customers’ specifications. Today, information can be spread to a large number of audiences by a click of a button. Apart from Google, I will also use other ad agencies such as Propeller Ads to ensure that my content is all over the internet.
Their current website of the business enables the customers to access all relevant information about the products as well as placing orders. I intend to use modern website developers to make it more attractive and practical. The new website will enable the customers to track the movement of their products from the day of order placement until delivery, depending on the location of the customer.
Customers who come from oversees will easily monitor the shipment of their goods using the website. Moreover, the physical appearance of the site is likely to encourage customers. Therefore, the website will also offer additional assistance such as a chat button where customers can get inquiries from the customer care at any time.
As far as kick-ass content is concerned, the website will also have a testimonial page to feature various comments from esteemed customers. Those who visit the website will easily navigate through the various comments of a successful transaction from various customers. The main distribution channel will be selling directly to the final consumer and retailers.
The business will process orders from retailers as well as those from individual consumers. In regards to the international shipment, the company will consider a particular minimum order quality. Before developing an SEO strategy, I will do thorough research from google. Afterward, I will implement an effective SEO strategy.
The measurement of the effectiveness of the marketing strategy will begin as soon as the marketing plan is implemented. This will be measured through Key Performance Indicators (KPIs). The main indicator is profits. Therefore, the changes in profits will be measured to determine the effectiveness of the marketing plan.
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