E-fashion lesson 3

Strengths
Weaknesses
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Strong customer service department. Excellent Web site and database system.
1. 2.
Low-tech corporate culture. Seasonal business: Peak is summer months.
Exit Plan
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Investors look for a way to get their money and profits out of the venture . Investors hope to go public and issue stock .
Seven-Step E-Marketing Plan
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Once the business opportunity has been identified this helps articulate “ the what “ and “ the how” questions .
The offer – product strategies . The value – the pricing strategies. Distribution strategies. Marketing communication strategies. Relationship management strategies .
1. 2.
Pending security law means costly software upgrades. Competitor X is aggressively using e-commerce.
Strengths
Weaknesses
1. 2.
Strong customer service department. Excellent Web site and database system.
Step 1: Situation Analysis
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Review the firm’s environmental and SWOT analyses.
Strengths ( internal ) Weakness ( internal ) Opportunities ( external ) Threats ( external )
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Fundamental to built the foundations of a business . Answers “ the who “ , “ the why “ and “ the when “ question? Evaluates if the pie is significant enough to even bother.
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Chapter 3: The E-Marketing Plan
The Second Life Story
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Second Life (SL) is a multiplayer online role-playing game launched in 1999. SL had 2.3 million residents in 2008 who created SL’s 3-D virtual world. Over 50,000 busitiac, IBM, and Toyota, have a presence in SL. Companies are using SL to build product buzz and connect with SL’s residents. In-world advertising revenue in the U.S. was $186 million in 2005.
Overview of the E-Marketing Planning Process
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The e-marketing plan is a blueprint for e-marketing strategy formulation and implementation. The plan serves as a road map to guide the firm, allocate resources, and make decisions.
ESP
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©2009 Pearson Education, Inc. Publishing as Prentice Hall
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The marketing process entails 3 main steps
Marketing plan creation . Plan implementation Plan evaluation & corrective action
Most e-marketing plans objectives takes the form
Task – what is to be accomplished . Measurable quantity – how much Time frame – by when . Eg:Increase market share Increase the number of comments on a blog Increase sales revenue Reduce costs Achieve branding goals Increase database size Achieve customer relationship management goals Improve supply chain management
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The Venture Capital E-Marketing Plan is a more comprehensive plan for entrepreneurs seeking startup capital.
Sources of Funding
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Bank loans Private funds – usually the smallest amount of investment Angel investors – believe in the idea & want to give a bare
Two Common Types of Plans
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Napkin plan
Entrepreneurs may jot down ideas on a napkin. Large companies might create a just-do-it, activitybased, bottom-up plan. Starting point but not sufficient for a long-term success .
Marketers conduct analyses to determine strategies.
Market opportunity analysis Demand analysis Segment analysis Supply analysis
Step 3: Objectives:
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3 key environmental factors that effect e-marketing include
Legal, Technological Market –related factors .
SWOT Analysis Leading to E-Marketing Objective
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1. 2. 3. 4. 5. 6. 7.
Situation analysis E-Marketing strategic planning Objectives E-Marketing strategy Implementation plan Budget Evaluation plan
Tier 1 strategies :
minimum to get the ball rolling .
Venture capitalists (VCs) – believe in the financial feasibility of
an idea and can invest the needed capital to need short to mid –term business needs .
Step 2: E-Marketing Strategic Planning
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Market and product strategies, called Tier 1 tasks or strategies, are outcomes of strategic planning.
Segmentation Targeting Differentiation - USP Positioning
SWOT Analysis Leading to E-Marketing Objective
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Opportunities
Threats
1. 2.
Hispanic markets growing and untapped in our industry. Save postage costs through e-mail marketing.
The business plan answer the following questions :
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Who is the new ventures consumer? How big is the pie ? How does the consumer make decisions? Why is the product compelling for the consumer? How will it be priced ? How will the product reach the targeted segment ? How much does it cost ( in time & resources ) to penetrate the consumer base and covert them to customers ? How much does it cost to produce & deliver the product ? How much does it cost to support a customer ? How do u retain a customer ?