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  • Marketing Planning - Where are you now?
    be achieving an extraordinary market share this should ring alarm bells SWOT Analysis This tool has the advantage that it is very widely known probably because it is simple to use Internal factors relating to your business are categorised as strengths or weaknesses or positives negatives and external factors as opportunities or threats Traditionally drawn as a four box matrix it invites you to organise your thinking using short phrases rather than lengthy discussions You can then take decisions based on maximising the strengths and capitalising on the opportunities as well as seeing what can be done to address or minimise the weaknesses and threats Competitor Array A more involved process we like this tool because it allows you to put more objective measures against your assumptions and findings about competitors and is focused on taking the customer view You start by identifying the list of attributes of your product or service then you weight those based on the importance you believe your target customers place on each attribute yes this may rely on educated guesswork using a decimal scale so that they total of all the weightings adds up to 1 0 You then rate your own business and your selected competitors out of 10 against each factor multiply the ratings by the weightings and see how you really fare when compared to your competitors Carrying out an analysis systematically like this means you can see not just how you fare overall but where you do particularly better or worse than the competition You can then take decisions to do something about it PESTLE Another widely recognised tool at its most simple it is a checklist to ensure that you have thought about all the environmental factors and trends that could be impacting your business right now or in the future PESTLE represents Political taxation policy government spending priorities European UK and local government objectives grants etc Economic interest rates GDP growth rates inflation disposable income unemployment levels etc Social life style trends demographics media etc Technological innovations research funding communications internet ecommerce social media developments etc Legal employment law competition law health and safety etc Environmental green policy recycling alternative energy etc The key reason for doing this is to help you identify opportunities and threats that you can add to your SWOT When you run through the checklist don t get hung up about whether something is economic or political nor should you worry about having something to say in each category Focus on your business and your customers but keep an open mind Next Steps This stage may take several weeks to complete and needs to be revisited regularly because nothing stays the same for long You may find that all your existing knowledge and assumptions are confirmed alternatively you might find something to challenge those assumptions and set you on a new path The quality of the work you have put into this stage will make each of the next steps so much easier Next

    Original URL path: http://www.thepurpleedge.co.uk/blog/detail.rhtm/663786/marketing_planning_-_where_are_you_now_.rhtm (2016-02-14)
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  • Marketing Planning - Where are you going?
    dumb that means they are S Specific saying clearly what you are aiming to achieve M Measurable which is why numbers are favourites for objectives but any definable outcome can work A Agreed by everyone in the organisation who needs to contribute to the achievement R Realistic by all means go for challenging or stretching targets but if you have no hope of getting the resources or you have made fundamentally wrong assumptions about the market then you are doomed before you start T Timed set a deadline even if it is as vague as in the next 12 months and don t worry that it might have to shift If you leave it open ended what s to even convince you to even start A woolly objective such as make more money or increase market share or even grow by 20 without saying grow what by when is as bad as no objective at all To set your SMART objectives you will use the information about your business and your market that you gathered in step 1 Start with the historic data look at the market potential and plant your stake in the ground Planning how to get there Hopefully you re convinced by now that it is important to know where you re going in order to plan how to get there Consider the difference in your travel plans between a day trip to London a week in Corfu a trek across the Sahara or a trip to the moon It s the same with your business goals and objectives different destinations will require very different resources and approaches In the next Marketing Planning blog we ll talk about how you tackle that next step how could you get there Tweet track back URL add comment Comments You re right Andrew he said that too Comment by Sharon 16 Jul 2012 20 46 What Lewis Carroll is fondly remembered for saying is Would you tell me please which way I ought to go from here That depends a good deal on where you want to get to said the Cat I don t much care where said Alice Then it doesn t matter which way you go said the Cat Comment by Andrew Jones 11 Jul 2012 11 13 Good reading I know this much of this already because you ve already told me about it in earlier marketing support sessions However I still struggle to keep a plan updated but its such an obvious thing to do as you explain in your blog Getting the numbers even approximately right is quite a challenge but at least you can measure the gap and make some decisions about what next Comment by Louise 11 Jul 2012 10 59 Your name Email address never displayed Web site Organisation add me to your email list HTML markup not supported Access code 8315 Please enter the 4 digit code above into the following box We re sorry about this but we need

    Original URL path: http://www.thepurpleedge.co.uk/blog/detail.rhtm/664163/marketing_planning_-_where_are_you_going.rhtm (2016-02-14)
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  • Marketing Planning - How could you get there?
    small companies Place where and how people buy what you are offering channels of distribution including web logistics The importance of this element will vary depending on the nature of your business Promotion communicating the value to your target audience to compell them to buy People I think this is part of product but it is emphasising how important it is to have the right people trained and willing to deliver your brand value particularly if you are in a service industry Process similarly part of product or place in my view but customer satisfaction with services are equally dependent on processes as they are on the people used in delivery Physical evidence I would put this in promotion but it refers to the need to give something tangible to customers who are seeking to make a purchasing decision about a service because you can t always see feel or touch it before you use it What I love about the marketing mix is that it forces you to consider the breadth of your business and not to jump straight to promotions in your marketing plan In fact one of my first ever blogs back in 2008 was about the 4 Ps entitled How many ps in marketing In the next increments of step 3 I m going to take you through each of the 4 Ps in more detail looking at some other tools you can use along the way to build yourself a set of choices to answer the question How could I get there Tweet track back URL add comment Comments No comments so far why not be the first Your name Email address never displayed Web site Organisation add me to your email list HTML markup not supported Access code 6562 Please enter the 4 digit code above into the following box We re sorry about this but we need to do this to prevent our site being abused by people looking for free advertising required fields Past Blogs search Oct 2015 Top 10 Product Naming Tips 23 Oct 2015 19 50 I m working with a client who is launching a new product next year They know what it is what it Aug 2015 Is Marketing essential for success 7 Aug 2015 11 11 Strange that having spent so long trying to show clients how much more there is to marketing than Jul 2015 Christmas is coming 27 Jul 2015 20 40 It s July The weather might lead you to conclude differently but it s the middle of the British Do you have a personal brand 10 Jul 2015 16 25 Jim s post of a couple of weeks back about getting on and doing stuff brought to mind a discussion Exhibition Time 3 Jul 2015 21 33 Next Tuesday 7th July the Kent Invicta Chamber of Commerce are holding the annual Kent B2B June 2015 You know what you need to do 25 June 2015 22 58 I was with a coaching client

    Original URL path: http://www.thepurpleedge.co.uk/blog/detail.rhtm/665204/marketing_planning_-_how_could_you_get_t.rhtm (2016-02-14)
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  • Marketing Planning - How could you get there with Product?
    functionality design etc For example iPhone 3G iPhone 3GS iPhone 4 Most product developments are not ground breakers or game changers They are mainly incremental improvements on existing products Many successful new products are the result of applying a solution or a technology which is commonplace in one industry or sector to a different one The home recording of audio for later enjoyment had been around for years before the same logic was applied to video for example What changes improvements could you make to help get you towards achieving your objectives A balanced portfolio The idea of a balanced portfolio is really to guard against having all your eggs in one basket the aim is to have some products that are mature enough to provide you with your main cash income now with younger products coming through to take over as the mature ones decline The Boston Consulting Group BCG Model was developed by the Boston Consulting Group no surprises there as a diagnostic model It aims to identify the action which must be taken to create a balanced portfolio It places each product into a 2x2 matrix the position determined by the market growth rate and the market share The size of the circle representing each product reflects the absolute revenue generated by that product Cash Cows are your mature products that will decline but for now are very profitable as they need little investment The trick is to manage them well and avoid them crossing over to the right side of the matrix Stars are your high growth products still requiring some investment and ultimately destined to become Cash Cows Problem Children need work you ve got a low share of a high growth market so with the right action you should be able to develop another Star Dogs sadly need managing out They are not paying for their keep and will divert valuable resources from other areas of the portfolio Possible product actions Having taken a long hard look at your product portfolio you should have a list of action that you could take to meet your objectives Right now you don t need to decide which you will definitely do we ll address that in Which way is best but keep this list safe Next time we ll be looking at Pricing Tweet track back URL add comment Comments No comments so far why not be the first Your name Email address never displayed Web site Organisation add me to your email list HTML markup not supported Access code 4526 Please enter the 4 digit code above into the following box We re sorry about this but we need to do this to prevent our site being abused by people looking for free advertising required fields Past Blogs search Oct 2015 Top 10 Product Naming Tips 23 Oct 2015 19 50 I m working with a client who is launching a new product next year They know what it is what it Aug 2015 Is

    Original URL path: http://www.thepurpleedge.co.uk/blog/detail.rhtm/665571/marketing_planning_-_how_could_you_get_t.rhtm (2016-02-14)
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  • Marketing Planning - How could you get there with Price?
    It s worth considering particularly when you re thinking of introducing offers or discounts if you could make the same income by selling less saving cost or doing less work Teaching our coaching programme students how to do contribution analysis is one of Jim s favourite bits of our course Pricing can be a minefield but small businesses should make the most of the control and flexibility they have in setting their prices If you re struggling with this subject here are 7 ways to take the fear out of of pricing Test test test don t assume you re right straight of be prepared to make mistakes and learn from them Reinforce benefits because you re worth it Offer bonus add ons these are usually low cost to you but may translate to significant value to customers Decrease perceived risk offer guarantees and trials Overcome objections make sure you are communicating value to customers effectively Provide range of options create upsell opportunities targeted at specific customer segments Value yourself sell yourself your business positively and never apologise for being expensive Above all treat the pricing P with the respect it deserves When you ve got your pricing options together keep them safe next time it s Place Tweet track back URL add comment Comments No comments so far why not be the first Your name Email address never displayed Web site Organisation add me to your email list HTML markup not supported Access code 0038 Please enter the 4 digit code above into the following box We re sorry about this but we need to do this to prevent our site being abused by people looking for free advertising required fields Past Blogs search Oct 2015 Top 10 Product Naming Tips 23 Oct 2015 19 50 I m working with a client who is launching a new product next year They know what it is what it Aug 2015 Is Marketing essential for success 7 Aug 2015 11 11 Strange that having spent so long trying to show clients how much more there is to marketing than Jul 2015 Christmas is coming 27 Jul 2015 20 40 It s July The weather might lead you to conclude differently but it s the middle of the British Do you have a personal brand 10 Jul 2015 16 25 Jim s post of a couple of weeks back about getting on and doing stuff brought to mind a discussion Exhibition Time 3 Jul 2015 21 33 Next Tuesday 7th July the Kent Invicta Chamber of Commerce are holding the annual Kent B2B June 2015 You know what you need to do 25 June 2015 22 58 I was with a coaching client this week and in the middle of the session she said something that I The 1 sin in content marketing mea culpa 15 June 2015 21 27 I m just home from a day s training in the latest in digital marketing strategy and I m racked Mar 2015

    Original URL path: http://www.thepurpleedge.co.uk/blog/detail.rhtm/667423/marketing_planning_-_how_could_you_get_t.rhtm (2016-02-14)
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  • Marketing Planning - How could you get there with Place?
    the negotiation What marketing channels do you use Are there any you could use but have not considered How could you make them more efficient and or effective Customer service The service your customer receives in buying your products will be based on the decisions you have taken above Availability of the product delivery timescales returns and repairs are all things that customers will judge their experience on and information on these beforehand will be a critical factor in their initial decision to buy as well as the reality driving repeat business Your ability to charge higher prices will improve based on the value you are seen to provide through the distribution service And clear communication will help in the sales process and manage expectations over promising and under delivering is a definite no no Right product right time Marketing is all about getting the right product to the right customers at the right time at the right price But to make a profit you are going to need to balance all the different elements of the equation to get to that right price the customer may say they want everything right now but in reality they will flex that need based on how important it is to them and that will affect what value they put on express delivery rather than having to wait a week for example Your operational flexibility will be another factor in determining how many different options you are capable of offering to customers and your knowledge of your target customers from your earlier analysis will allow you to design your service offerings appropriately For now make a note of any issues and opportunities you have identified for your business under the heading of Place and we ll move on to Promotion Tweet track back URL add comment Comments No comments so far why not be the first Your name Email address never displayed Web site Organisation add me to your email list HTML markup not supported Access code 1008 Please enter the 4 digit code above into the following box We re sorry about this but we need to do this to prevent our site being abused by people looking for free advertising required fields Past Blogs search Oct 2015 Top 10 Product Naming Tips 23 Oct 2015 19 50 I m working with a client who is launching a new product next year They know what it is what it Aug 2015 Is Marketing essential for success 7 Aug 2015 11 11 Strange that having spent so long trying to show clients how much more there is to marketing than Jul 2015 Christmas is coming 27 Jul 2015 20 40 It s July The weather might lead you to conclude differently but it s the middle of the British Do you have a personal brand 10 Jul 2015 16 25 Jim s post of a couple of weeks back about getting on and doing stuff brought to mind a discussion Exhibition Time 3

    Original URL path: http://www.thepurpleedge.co.uk/blog/detail.rhtm/671345/marketing_planning_-_how_could_you_get_t.rhtm (2016-02-14)
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  • Marketing Planning - How could you get there with Promotion?
    radio ad or a mailshot The more sustained noise you can make towards your target market the better Another key aspect to consider is the objective of each promotional activity in our integrated layered programmes some promotions will be about awareness and reputation some about lead generation and some about conversion As you progress a contact through your sales process you will use different techniques in different ways to engage nurture and convert If you didn t review branding as part of product then now is the time to do so You may need to assign some of your budget to design and to ensuring you have a consistent brand image across all your promotional activities At the end of stage 3e then you ll have a short list of promotional ideas that you could rollout in some combination to hit your targets At which point we ask ourselves Which way is best Tweet track back URL add comment Comments It s Really Intelligent Article Comment by sujatha 30 Jan 2016 05 54 It s Really Intelligent Article Comment by sujatha 30 Jan 2016 05 53 Thanks For Your valuable posting it was very informative Am working in a href http www excelanto com Erp Software Company In India a Comment by Bharathi Baskar B 24 Dec 2014 11 27 Thanks For Your valuable posting it was very informative Am working in a href http www excelanto com Erp Software Company In India a Comment by Bharathi Baskar B 20 Nov 2014 12 51 Thanks For Your valuable posting it was very informative i am working in a href http www excelanto com Erp Software Company In India a Comment by Bharathi B 26 Sep 2014 07 13 Thanks For Your valuable posting it was very informative i am working in a href http www excelanto com Cloud Erp Software Company In Chennai a Comment by Bharathi B 19 Sep 2014 11 34 This is a brilliant share Thank you for sharing this useful post Comment by go to market road map 19 Aug 2013 11 55 Your name Email address never displayed Web site Organisation add me to your email list HTML markup not supported Access code 8419 Please enter the 4 digit code above into the following box We re sorry about this but we need to do this to prevent our site being abused by people looking for free advertising required fields Past Blogs search Oct 2015 Top 10 Product Naming Tips 23 Oct 2015 19 50 I m working with a client who is launching a new product next year They know what it is what it Aug 2015 Is Marketing essential for success 7 Aug 2015 11 11 Strange that having spent so long trying to show clients how much more there is to marketing than Jul 2015 Christmas is coming 27 Jul 2015 20 40 It s July The weather might lead you to conclude differently but it s the middle of the British

    Original URL path: http://www.thepurpleedge.co.uk/blog/detail.rhtm/673315/marketing_planning_-_how_could_you_get_t.rhtm (2016-02-14)
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  • Marketing Planning - Which way is best?
    your overall budget assigned to this activity The level of detail that you take your project planning to is entirely up to you and will depend on your personal approach and the approach of your team members From the perspective of the One Page Marketing Plan I have suggested you keep it simple and just capture the headline basics on your template But more complex activities will certainly require more detailed supporting plans For example if launching a new product into the portfolio is one of the options there will definitely be a lot of work needed to achieve this one action and a separate plan would be advisable Hit the road At the end of this process you ve done your planning and are ready to hit the road and make it real Confident that you know where you re going and how you re going to get there How long this next part takes is dependent on the scope of your plan but the critical thing is to keep the plan under review and be prepared to adapt and adjust as new information comes your way Next time the final part of our planning journey how do you know when you ve arrived Sharon Wilding is a Chartered Marketer with many years experience in marketing for businesses large and small As a lecturer and a practioner she aims to help small businesses use theory in practical ways to improve performance You can connect with Sharon on Google LinkedIn Facebook and Twitter Tweet track back URL add comment Comments No comments so far why not be the first Your name Email address never displayed Web site Organisation add me to your email list HTML markup not supported Access code 4082 Please enter the 4 digit code above into the following box We re sorry about this but we need to do this to prevent our site being abused by people looking for free advertising required fields Past Blogs search Oct 2015 Top 10 Product Naming Tips 23 Oct 2015 19 50 I m working with a client who is launching a new product next year They know what it is what it Aug 2015 Is Marketing essential for success 7 Aug 2015 11 11 Strange that having spent so long trying to show clients how much more there is to marketing than Jul 2015 Christmas is coming 27 Jul 2015 20 40 It s July The weather might lead you to conclude differently but it s the middle of the British Do you have a personal brand 10 Jul 2015 16 25 Jim s post of a couple of weeks back about getting on and doing stuff brought to mind a discussion Exhibition Time 3 Jul 2015 21 33 Next Tuesday 7th July the Kent Invicta Chamber of Commerce are holding the annual Kent B2B June 2015 You know what you need to do 25 June 2015 22 58 I was with a coaching client this week and in

    Original URL path: http://www.thepurpleedge.co.uk/blog/detail.rhtm/674406/marketing_planning_-_which_way_is_best_.rhtm (2016-02-14)
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