by Dr. Dov Reichman, Spectra Analytics Ltd.
Today, companies have the opportunity to apply a wide range of marketing techniques to establish business image, product and/or technology and expose them to existing and new target markets, in order to create a competitive advantage which will lead to increasing income.
Usage of marketing communication containing messages and varied methods, strengthen the effectiveness of marketing and assists in creating a more stable memory, which will last in the costumer's awareness for the long term. Nonetheless, operating marketing communication should be applied as part of an organized plan, which determines the proper marketing mix, according to budgetary limitations, in order to reach the highest product it can achieve regarding cost-benefit analyses.
Marketing Strategy and Marketing Plans
A professional and organized process can, without a doubt, reach the best results. Strategic planning leads companies to formulate a business strategy, and continues with deriving a marketing strategy and then a marketing plan. The latter includes the necessary actions needed to be done in order to implement the marketing strateg.
Marketing plans as such, direct their activity to creating a comparative advantage in the company's home market and targeted markets, in addition to meeting the relevant timetables.
A budget is planned every year with the objective of utilizing the company's resources correctly and leading to reach the planned extent of sales and profits
The Arsenal of Marketing Communication
Among all of the marketing tools which are at the disposal of CEO's, vice presidents and other relevant executives are:
- Participation in local and international professional exhibitions.
- Planning conferences and events geared to decision makers and opinion leaders.
- Producing an image video and translating it to several languages.
- Sending a periodical newsletter to the company's entire clientele.
- Upgrading the company's internet site – image, service or commercial site.
- Advertising and PR.
International Marketing – Classifying Activities and Business Effectiveness
The global market, in many aspects, constitutes the targeted market for high tech companies and for companies of other fields. An entrance to the international club can lead to business breakthroughs for a company's business development.
Among the many varied effective marketing tools which can be used by companies, there are gaps regarding costs and effectiveness.
Marketing plans must determine a classification in operating marketing tasks and the different tools in order to create a cash flow, which is nourished from the company's capital as well as from its upcoming expected income.
It's advisable for a company that wishes to penetrate the international market, to do so in countries where low input is required, and out of purpose that a success in these markets will provide enough leverage in order to succeed in penetrating more complex and competitive markets.
Classifying operation spheres will substantially increase chances for success and for controlling the company's cash flow.
Separate the Wheat from the Chaff
Setting a company's clear goals and translating them into tactical objectives, will allow a company, for instance, to carefully examine the necessity of participation as presenter at an exhibition.
In addition, a clear marketing strategy may bring a company to consider focusing its efforts on a particular country in order to achieve an initial extent of sales, as opposed to spreading marketing efforts over a wide span.
The challenge that companies running professional marketing plans face, are knowing what to give up on, the manner of using their varied marketing tools intelligently, as well as determining the fitting time and place of applying these means and tools.
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Dr. Dov Reichman, is the CEO and owner of Spectra Analytics Ltd. which specializes in strategic planning for high tech
companies and accompanies business throughout processes of business development and international marketing
