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Saturday, June 18, 2011

Types of Marketing Plan

If you are an MBA’ian and you are looking for some marketing plans and marketing strategies then you can any time touch with me and with my blog. Today I have posted a much more useful post on types of marketing planning.
There are several varieties of marketing plans from tactical marketing plans, to specific project or functional plans, to strategic marketing plans. The most common type of marketing plan is the tactical marketing plan, which often is in the form of an annual marketing activity plan, along with corresponding budgets and schedules. This plan is used by construction brands and corporate America to efficiently coordinate and implement the multitude of marketing activities.
The tactical plan doesn’t focus on strategic issues like market segmentation, or competitive intelligence; but instead focuses on identifying the specific details of all known marketing programs, campaigns or initiatives. For example, vertical email campaign to design engineers; monthly frequency, content themes include frequently asked questions, design tips, and testimonials; goal of 2000 leads.

Depending on company size or budget, project or functional plans can be part of the tactical plan, or separate. Examples of project plans might include the plan for a new website development, or a new sales training program. Whereas functional plans might include advertising/media plans, trade show plans, and publicity plans.

Strategic marketing plans are the most rigorous of plans. What differentiates a strategic marketing plan for a tactical marketing plan is the longer time frame (typically 3-5 years), the analysis and research aspects of a strategic marketing plan, the potential financial aspects of a strategic marketing plan, and the consideration of new business or marketing initiatives that may be quite different from your existing business.

Generally speaking, these are the main types of marketing strategies:
1.            Offline (or traditional forms of) marketing

2.            Online marketing (with the arrival and development of the internet)

3.            Word-of-Mouth marketing (which is the oldest and arguably the most effective still today)

4.            Performance marketing - marketing by ad placement based on search engine queries, where the advertiser only pays for advertising when someone clicks on the ad. Google has become the leader in performance/search marketing - because of its powerful search engine and data resources.

5.            Banner marketing - once the main form of online marketing during the tech bubble, has lost favor to performance marketing. The once high cost of banner placements did not necessarily translate into sales conversions. Banners are now for the most part, considered as supplemental advertising, except when the banner is itself a form of contextual or performance marketing.

6.            Email marketing and press releases - considered by many today to be the "king" of marketing online. You can commonly hear marketers say stuff like "the money is in the list" when referring to email marketing. Beware though that there are acceptable and unacceptable forms of email marketing. Be careful not to become a SPAM artist!

7.            Social Networking and Social Bookmarking - This type of marketing has quickly gained favor with the explosion of social networks like MySpace, Twitter and Face book. They are such powerful promotional tools that not only businesses are tapping into them - so are politicians, musicians and celebrities. It's phenomenal how quickly you can get the word out about something and have it travel the world within minutes.

8.            Affiliate Marketing - a bit slower to develop than other types of marketing strategies online, affiliate marketing has now become a multi-billion dollar industry. The concept of affiliate marketing is to let website owners promote your products or services and give them a commission for every sale or lead they generate for you. It's a very efficient form of marketing because the cost to set up and implement is relatively low, and you let the "real" experts promote your brand for you - on a performance basis.

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