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A marketing plan is a plan created to accomplish specific marketing objectives, outlining a company's advertising and marketing efforts for a given period, describing the current marketing position of a business, and discussing the target market and marketing mix to be used to achieve marketing goals.
A promotional plan specifies how much attention to pay to each of the elements in the promotional mix, and what proportion of the budget should be allocated to each element. Promotion covers the methods of communication that a marketer uses to provide information about its product .
Marketing strategy is an organization's promotional efforts to allocate its resources across a wide range of platforms and channels to increase its sales and achieve sustainable competitive advantage within its corresponding market.
The area of marketing planning involves forging a plan for a firm's marketing activities. A marketing plan can also pertain to a specific product, as well as to an organization's overall marketing strategy.
Promotion: Promotion encompasses all the activities a company undertakes to communicate the value of its product or service to the target audience. This includes advertising, sales promotions, public relations, social media marketing, and any other methods used to create awareness and generate interest in the offering.
The AAAA defined IMC as, "a concept of marketing communications planning that recognizes the added value of a comprehensive plan that evaluates the strategic roles of a variety of communication disciplines (e.g. general advertising, direct response, sales promotion, and public relations) and combines these disciplines to provide clarity ...
In many cases, marketing management will develop a marketing plan to specify how the company will execute the chosen strategy and achieve the business's objectives. The content of marketing plans varies for each firm, but commonly includes:
Outline of marketing. The following outline is provided as an overview of and topical guide to marketing: Marketing – social and managerial processes by which products, services, and value are exchanged in order to fulfill individuals' or groups' needs and wants.
The contemporary definition of 'marketing' as a process of moving goods from producer to consumer with an emphasis on sales and advertising first appeared in dictionaries in 1897. [8] The term, marketing, is a derivation of the Latin word, mercatus meaning market-place or merchant. [9]
In marketing, the promotional mix describes a blend of promotional variables chosen by marketers to help a firm reach its goals. [1] [2] [3] [4] [5] It has been identified as a subset of the marketing mix. [1] It is believed that there is an optimal way of allocating budgets for the different elements within the promotional mix to achieve best ...