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New Kotler book „Social Media Marketing“, 2nd ed. 2017, excerpt 4

 

 

This is the fourth excerpt from the second edition of our book on „Social Media Marketing“ by Philip Kotler , Svend Hollensen and me which is globally availabe via Amazon.

Get the latest publication from the ‚Father of modern Marketing‘ Phil Kotler now:

Link to US amazon site: http://amzn.to/2xxsJCj

Link to German amazon site: https://lnkd.in/gNk6T6V

Link to UK amazon site: https://www.amazon.co.uk/dp/1549540408

Link to Indian amazon site: https://www.amazon.in/Social-Media-Marketing-Practitioner-Management-ebook/dp/B0755CH9Q6/ref=sr_1_1?ie=UTF8&qid=1507552835&sr=8-1&keywords=kotler+social+media

The book has been ranked No 4 of the best advertising books in the world (e.g. https://amzn.to/2PAOIQV) (https://bookauthority.org/books/beginner-advertising-books

4.2.1 Facebook

Facebook is an American company and online social media and social networking service based in California. The Facebook website was launched on in February, 2004, by Mark Zuckerberg, along with fellow Harvard College students and roommates. Facebook, Inc. held its initial public offering (IPO) in February 2012, and reached an original peak market capitalization of $104 billion after three months on the stock market. On July 13, 2015, Facebook became the fastest company in the Standard & Poor’s 500 Index to reach a market cap of $250 billion. As of January 2017, Facebook was the most popular social networking site in the world, based on the number of active user accounts.

In 2015 Facebook reached revenues of US$17.9 billion. Most of Facebook’s revenue comes from advertising Facebook generally has a lower click-through rate (CTR) for advertisements than most major websites. The cause of Facebook’s low CTR has been attributed to especially younger users enabling ad blocking software and their ability to ignore advertising messages, as well as the site’s primary purpose being social communication rather than content viewing. Facebook is the social media giant and as such businesses cannot overlook this global communication channel. Thus, developing a business presence on Facebook is a must, but this is far from simple. First, many people view Facebook primarily for communicating with family and close friends. This means that business connections, advertisements, and intrusive messages may not always be welcome. Consequently, businesses need to carefully plan their interactions in ways that respect typical Facebook use. This is not to say all people prefer to avoid any commercial contact on Facebook at all. In fact, on any given day, millions of Likes are given to corporate pages and business content is viewed, downloaded, and commented upon.

 

Pages, Profiles and Groups

The fine line between business and personal use is reflected in Facebook’s organizational structure in the form of profiles, pages and groups. These structures are intended to give different levels of interaction and have been used to varying degrees by businesses and individuals.

Profiles are the basic structure in Facebook and are intended for individual use (Figure 4.2).

Another feature on Facebook is groups. Groups are meant to allow a subset of people to interact and share information. Groups are a private space that can be configured in different ways.

Groups can be private so only members can see it, know who is in it and what other members post. A secret group could be used for company employees or a set of business associates (Bulygo, 2010).

Closed groups, on the other hand, can be seen by everyone and everyone will be able to see the membership list. However, the content is only open to members.

Finally, open groups can be seen by anyone, membership is open and all content can be seen by the public. Groups are intended for use with profiles but can be used in some business settings.

Facebook pages, on the other hand, are specifically designed for business use. These do have many of the same features as a user’s profile. Users can connect with a page and become a fan of it. Pages can have public messaging walls, events, photos, and custom applications (Figure 4.3).

One of the most useful aspects of Facebook is the ability for people to ‘like’ and ‘tag’ the things you do on the site. When users like your page or something you posted on it by pressing the little thumbs-up ‘Like’ button, the fact that they like it will eventually on their Facebook profiles for their friends to see.

The same thing is true when you tag something, which is when you identify people within a post or a photo on Facebook. When you tag people, they automatically get notifications that point them to the tagged content.

However, as with other forms of web content, you should always bear in mind not to use social media platforms to overtly sell. Instead, create information that people will want to share as it adds value (Bulygo, 2010).

How to Set Up a Business Page

Business pages are valuable for many reasons, the most obvious being that more than a billion people use Facebook and it is important to meet customers where they congregate. Users become fans of a business page simply by clicking a ‘Like’ button. This creates a like between their profile and the business page if they are logged into Facebook. Each time a person presses the ‘Like’ button, the business icon will be placed onto the user’s profile page. This provides visibility for the enterprise and helps information to move through networks of friends. Smith (Smith, 2010) provides information regarding the development of a Facebook page for business use. At the beginning, it is advisable to study other Facebook pages to get a sense of what users currently expect. Facebook’s directory of pages can be a good starting point to do so (Figure 4.4).

Smith then recommends a six-step approach to building a business Facebook page. The first step is to determine the page objective. By definition, a page is a single unit of information and not an entire website. This means a primary purpose is paramount. The objective might be leveraging the brand awareness, developing a contact list, driving traffic to a corporate website, developing a sense of community, or gathering ideas for new products. The second step is to devise a design an appropriate strategy. By understanding what needs to be accomplished, decisions regarding the type of media, posts, and other material can be determined. For instance, if the objective was to develop a sense of community, then infrastructure for posting questions and polls can be given a prominent location to support develop a sense of an ongoing conversation with fans (Smith, 2010). Next, a content strategy should be determined. This means deciding whether photos, videos, posts, updates, events, and links should be used and in what kind of mix. Connections to favorite blogs can be supplied in line with custom developed material. The fourth step is to promote the new Facebook page both inside and outside of Facebook. Facebook promotion can be done using a variety of methods: Widgets can be added to Websites, Facebook ads can be placed, blog entries can be written and links back to the page incorporated. In addition, Twitter and print media can be used to drive traffic to the page. Following promotion, engagement and retention are instrumental. Organizational resources will be required to enable the page to be monitored and moderated. Additional page administrators may be required depending on how much traffic is generated. Depending on the page objectives, it may be key to have immediate responses to customer posts or questions. Other forms of engagement might include regular posts, polls, personalized messages to fans and the addition of a discussion board. Finally, the sixth step is to begin converting fans into long-term, loyal customers. Practitioners recommend to wait until the fan base is approximately 500–1,000 strong. This will enable efforts to achieve measurable results. Conversion can be tricky but it generally involves providing coupons, discounts, special events, or other incentives to give fans a call to action (Smith, 2010).

Facebook pages are the simplest, easiest way to get started marketing with Facebook. They are free, relatively easy to set up (at least in their basic forms), and very flexible. There is not much of a downside, either. Unfortunately, many companies do not use them to their full potential; or even worse, they use them badly. The following tips will help you avoid making those mistakes (Bulygo, 2010):

·        Profile Photo and Cover Image: Your profile photo should ideally be your logo. The cover image is a different story. It is up to you to decide what to put here. Some use photos of employees, while others use fancy artwork and put their contact information in the cover image. Pick a photo that will enhance your page and draw the eye of your visitors.

·        Info/About Section: The ‘About’ section is prominently placed right below your company logo. This is your chance to tell anyone coming to your page what your business does. Make sure you put clear information here, telling people what your company does, why you are different, and other appealing details. If you can, take the time to write it specifically for your Facebook audience. Always remember to keep it friendly and informal as a casual tone usually works best on Facebook.

·        Post powerful information: What you post to your wall will show up in the news feeds of everyone who has ‘Liked’ your page, just as it does when you post something to your personal profile. For this reason, make sure that what you are posting is useful to your fans. Do not post endless updates about the same thing, and do not post too many updates, clogging the news feeds of your fans. Here are some ideas for the kinds of things you might want to post to your wall:

o  Links to articles related to your company or your industry

o  Links to your blog posts

o  Coupon codes for fans to save on your products

o  New product announcements

o  Links to online tools your fans might find useful

·        Ask Your Fans Questions: Getting your fans involved with your page is a great way to inspire and enhance loyalty. Asking questions in your updates gets people engaged and involved, but on their own terms. What you ask depends largely on your product and your niche, but asking open-ended questions usually gets you the best responses. Asking opinions on a new product idea can be a good way to convince your fans that your company cares about what they want. If you outperform others in this respect, you may even reach the top of the Facebook News Feed.

·        Do not Spam: Spam is one of the quickest ways to lose fans. If you do nothing but send out predominantly promotional information about your company and your products, without ever adding anything of value, then you are going to have a hard time getting and keeping fans. Before you send out any update, ask yourself if it honestly adds value to the conversation. If not, do not send it.

·        Study Your Statistics and Results: Facebook offers useful analytics for pages. Pay attention to them. If you see a big surge in fans (or a drop off), look at what you have posted recently and see if you can figure out a reason for the trend. Consequently, post more of that kind of content (or less, if you’re losing fans).

·        Run competitions: Some of the most successful marketing campaigns done by Facebook pages are via contests. If Facebook competitions are run correctly with good applications & are sufficiently promoted, they can be extremely useful for your Facebook page.

·        Be human: In addition to putting a face/name to your social media presence, your page also needs to respond like a human by taking into consideration the following aspects:

o  Reply to comments using the person’s first name

o  Show Empathy

o  Treat people with Respect

To be continued…Have a look into the book:

Link to US amazon site: http://amzn.to/2xxsJCj

Link to German amazon site: https://lnkd.in/gNk6T6V

Link to UK amazon site: https://www.amazon.co.uk/dp/1549540408

Link to Indian amazon site: https://www.amazon.in/Social-Media-Marketing-Practitioner-Management-ebook/dp/B0755CH9Q6/ref=sr_1_1?ie=UTF8&qid=1507552835&sr=8-1&keywords=kotler+social+media

Prof. Dr. Marc Oliver Opresnik

Chief Research Officer Kotler Impact, Inc.

Chief Executive Officer Kotler Business Program

Kotler Impact Inc.

New Kotler book: „Social Media Marketing“, 2nd ed. 2017, Excerpt 3

This is the third excerpt from the second edition of our book on „Social Media Marketing“ by Philip Kotler, Svend Hollensen and me which is globally available via Amazon (#socialmedia; #socialmediamarketing; #marketing)

Get the latest publication from the ‚Father of modern Marketing‘ Phil Kotler now:

Link to US amazon site: http://amzn.to/2xxsJCj

Link to German amazon site: https://lnkd.in/gNk6T6V

Link to UK amazon site: https://www.amazon.co.uk/dp/1549540408

Link to Indian amazon site: https://www.amazon.in/Social-Media-Marketing-Practitioner-Management-ebook/dp/B0755CH9Q6/ref=sr_1_1?ie=UTF8&qid=1507552835&sr=8-1&keywords=kotler+social+media

This second updated and extended edition of ‘Social Media Marketing’ guides through the maze of communities, platforms, and social media tools so that markers can decide which ones to use, and how to use them most effectively.

 

2. Digital Marketing Research

2.1 Introduction to Marketing Research

The term market research refers to gathering, analyzing and presenting information that is related to a well-defined problem. Hence the focus of market research is a specific problem or project with a beginning and an end.

Market research differs from a decision support system (DSS), which is information gathered and analyzed on a continual basis. In practice, market research and DSS are often hard to differentiate, so they will be used interchangeably in this context.

Marketers have the idea that different customers should be treated differently to maximize the relationship with the best ones and minimize the involvement with the worst ones. Information technology helps to realize that desire. The reality comes at a cost, however, as relationship marketing presents a new set of challenges both to marketers and information systems managers. To succeed, an effective cross-functional team of information systems and marketing specialists must work harmoniously. In the past, the two groups barely understood or tolerated each other. On a positive note, a new breed of cross-disciplinary executives exists. They understand both marketing and technology. Overall, the most successful implementation will require true collaboration (Crie Micheaux, 2006; Hollensen and Opresnik, 2015).

To be useful to organizations, knowledge tools must be accessible to mainstream users. They must be understandable and useful to marketing managers, not just statistical experts and information systems managers. To overcome potential problems in applicability, marketers must insist that several key goals be achieved. They include:

  • putting the problem in the marketer’s terms, including viewing the data from a marketing model perspective. Often the job of knowledge discovery is performed by analysts whose primary training is in statistics and data analysis. It is likely that these analysts do not have the same perspective as marketers. To be useful to marketing, the findings must be in a form that marketers can understand;
  • presenting results in a manner that is useful for the business problem at hand. The foremost benefit of the analysis and the job of the analyst is to help solve business problems and increase or diminish the value of the analysis;
  • providing support for specific key business analyses, marketers need to know about segmentation, market response, segment reachability. Knowledge discovery tools must support these analyses from the beginning;
  • providing support for an extensive and iterative exploratory process. Realistic knowledge discovery is not simple and not linear. It is an interactive and iterative learning process. Initial results are fed back into the process to increase accuracy. The process takes time and can have a long lifespan.

 

2.2 Online (Internet) Research Methods

Although the Internet is still confined to the boundaries of the personal computer screen this will soon be a thing of the past; it is now clear that the Internet is definitely going to be a medium for the masses. Many researchers are amazed at how efficiently surveys can be conducted, tabulated and analyzed on the Web. Additionally, online data collection lets marketers use complex study designs once considered either too expensive or too cumbersome to execute via traditional means. While initial forays were fraught with technical difficulties and methodological hurdles recent developments have begun to expose the medium’s immense potential.

The earliest online tools offered little more than the ability to deploy paper-based questionnaires to Internet users. Today, however, online tools and services are available with a wide range of features at a wide range of prices.

For the international market researcher, the major advantages and disadvantages of online surveys are the following (Grossnickle and Raskin, 2001).

 

Advantages of online surveys

  • Low financial resource implications: the scale of the online survey is not associated with finance, i.e. large-scale surveys do not require greater financial resources than small surveys. Expenses related to self-administered postal surveys are usually in the form of outward and return postage, photocopying, etc., none of which is associated with online surveys.
  • Short response time: online surveysallow questionnaires to be delivered instantly to their recipients, irrespective of their geographical location. Fast survey execution allows for most interviews to be completed within a week or so.
  • Saving time with data collection and analysis: the respective questionnaire can be programmed so that responses can feed automatically into the data analysis software (SPSS, SAS, Excel, etc.), thus saving time and resources associated with the data entry process. Furthermore, this avoids associated data transcription errors.
  • Visual stimuli: this can be evaluated, unlike CATI.

 

Disadvantages of online surveys

  • Respondents have no physical addresses: the major advantage of postal over online surveysis that respondents have physical addresses, whereas not everyone has an electronic address. This is an international marketing research problem in geographical areas where the penetration of the Internet is not as high as in Europe and North America. For cross-country surveys the multimode approach (i.e. a combination of online and postal survey) compensates for the misrepresentation of the general population.
  • Guarding respondents’ anonymity: traditional mail surveys have advantages in guarding respondents’ anonymity. Sensitive issues, which may prevent respondents from giving sincere answers, should be addressed via the post rather than online.
  • Time necessary to download pages: problems may arise with older browsers that fail to display HTML questionnaires properly, and also with the appearance of the questionnaires in different browsers (Internet Explorer, Netscape).

 

Response rates to e-mail questionnaires vary according to the study context. Various factors have been found to inhibit response to e-mail or Internet data collection. These factors include poor design of e-mail questionnaires, lack of anonymity and completion incentives. By addressing these factors in the context of specific research objectives it may provide a way to tackle non-response to e-mail questionnaires. Incentives should be used to encourage response rates, especially if the e-mail questionnaires are lengthy. Potential respondents are likely to trade off their anonymity if incentives are used. The researcher can easily negotiate completion incentives if the sampling frame derives from a company’s database (Michaelidou and Dibb, 2006).

 

Online Quantitative Market Research (E-mail and Web-based Surveys)

Online surveys can be conducted through e-mail or they can be posted on the Web and the URL provided (a password is optional depending on the nature of the research) to the respondents who have already been approached. When a wide audience is targeted the survey can be designed as a pop-up survey, which would appear as a Web-based questionnaire in a browser window while users are browsing the respective websites. Such a Web-based survey is appropriate for a wide audience, where all the visitors to certain websites have an equal chance to enter the survey.

However, the researcher’s control over respondents entering the Web-based surveys is lower than for e-mail surveys. One advantage of Web-based surveys is the better display of the questionnaire, whereas e-mail software still suffers from certain limitations in terms of design tools and offering interactive and clear presentation. However, these two modes of survey may be mixed, combining the advantages of each (Ilieva et al., 2002).

 

Online Qualitative Market Research

There are many interesting opportunities to conduct international qualitative market research quickly and at relatively low cost, without too much travelling involved (Hollensen and Opresnik, 2015):

  • Saving money on travelling costs, etc.: many qualitative researchers often have to travel to countries in which research is conducted, briefing local moderators and viewing some groups or holding interviews to get a grasp of the local habits and attitudes. This leads to high travelling costs and increases the time needed to execute the fieldwork. It usually takes one or two weeks to recruit the respondents, and one or two weeks before the analysis can start. In online research the respondents can be recruited and interviewed from any computer anywhere in the world. Nearly everyone who is connected to the Internet knows how to use chat rooms. Fieldwork may start two days after briefing, and the analysis may start straight after the last interview based on complete and accurate transcripts, with each comment linked to the respective respondent.
  • Cross-country qualitative research: international online research is particularly interesting for multinational companies that sell their products on a global scale and are afraid to build the global marketing strategy on research which has been conducted in only a few of these countries. Online qualitative research could serve as an additional multi-country check. This is not intended to give insight into the psychology of customers but rather to check whether other countries or cultures may add to the general picture, which has been made on the basis of qualitative face-to-face research.

 

One of the limitations with, for example, online focus groups is that they seem to generate less interaction between members than the face-to-face groups. Discussions between respondents occur, but they are less clear and coherent.

 

2.3 Marketing Research Based on Web 2.0

Today, maybe 80 percent of international marketers’ need for international marketing data are addressed by conducting a market-research project.

In future, the leading edge MNEs —probably led by consumer packaged goods and technologically driven companies —will look for answers to 80 percent of their marketing issues by ‘catching’ already available data.

Some of the data sources and tools available through the Web 2.0 will include the following (Hollensen and Opresnik, 2015):

  • Mobile Data: One of the biggest opportunities for marketers is the opportunity to collect real-time geographic information about consumers and to geo-target consumers. GPS-enabled smart phones penetrating worldwide markets at an exponential rate coupled with an ongoing increase in cellular bandwidth and data processing speed will result in the opportunity to target the right consumer not only at the right time but at the right place. Major information firms such as Googleand innovative start-ups are leading the way in utilizing such readily available data sources in real time.
  • User-generated Contentand Text Mining: Web 2.0 provides gathering places for Internet users in social-network sites (e.g. Facebook, Twitter), blogs, forums, and chat-rooms. These assembly points leave footprints in the form of huge amounts of textual data. The difficulty in obtaining insights from online user-generated content is that consumers’ postings often are extremely unstructured, large in magnitude, and not easy to syndicate. Commercial (e.g., Nielsen Online) and academic text-mining tools provide marketers and researchers with an opportunity to ‘listen’ to consumers in the market. By doing so, firms can better understand the topics discussed, consumers’ opinions, the market structure, and the competitive environment.
  • Web browsing: The use of click-stream data, which contain click-by-click Web page-viewing information, dates back to the introduction of the Internet to the mass market. Until now the utilization of clickstream data has been limited by the inability to collect, store, and analyze the huge data sets, often in real time. However, now firms use cross-organizational skills for developing and converting these data into international market insights.
  • Social Networks and online communities: Some of the fastest growing sources of information flow are the social-networking sites of which the most visible and powerful presences include Facebookand Twitter. Somehow consumers are turning from searching for information at news websites and search engines back to the traditional approaches of asking their friends their advice. Of course, the networking element means that they have a much wider circle of ‘friends’, which can also be used for more formal but ‘quick-and-dirty’ questionnaire surveys. Although social-networking sites have become ubiquitous, the full international marketing utilization of these sites is still untapped. The integration of social networking sites with other sources of information such as online retailers and media sources will amplify the opportunities to derive actionable marketing insights from online word-of-mouth content. Furthermore, by observing consumers’ social-networking habits and purchase behavior, researches can leverage the social relationship information to identify and target opinion leaders. Furthermore, with emergence of Web 2.0, many consumer goods companies such as Nike, Harley-Davidson and Procter & Gamble have started to build their own brand communities. Brand communities open an opportunity for firms not only to enhance the interactions among consumers but to fully observe these interactions. Furthermore, brand communities open a direct of communication channel between the firm and its customer. As consumers move toward obtaining much of the information from other consumers, brand communities are likely to become a major component of the information flow.
  • Customer decision-making data: Increasingly firms are interested not only in understanding the outcome of (or exposure to) the marketing effort but in understanding the entire process customers go though in arriving at a decision. This interest has been sparked by several technological advances in areas such as radio frequency identification (RFID), video-recognition tools and eye tracking. RFID technology allows researchers to track consumers in the retail environment, a capability to track items with the goal of improving the efficiency of supply-chain systems. Marketers can get the full picture of what is happening in the store and enable tracing consumers and product flow. The difficulty with converting these extremely valuable data into international marketing insights lies in the magnitude of data and the complexity of analysis.
  • Consumer usage data: More and more products now are being embedded with sensors and wireless devices that can allow marketers to track consumers geographically and over time. For example, sensors on cars and consumer packaged goods can open new windows into their usage and consumption in addition to the purchase of products.
  • Neuromarketing: Neuromarketing, referring to the use of neuroscience for marketing applications, potentially offers the ability to observe directly what consumers are thinking. Neuromarketing often is used to study brain activity to exposure to brands, product designs, or advertising. Neuromarketing is a relatively new tool for marketers, mainly owing to technological barriers, the ability to transform the neuroscience results into actionable business insights, and the high costs of collecting the data. We expect, however, that the next decade will see improvement on these fronts, making neuromarketing a common component of the customer insights tool kit.

 

Prof. Dr. Marc Oliver Opresnik

Chief Research Officer Kotler Impact, Inc.

Chief Executive Officer Kotler Business Program

Kotler Impact Inc.

Marc@kotlerimpact.org

Marc@worldmarketingsummit.org

Excerpt 1: „Social Media Marketing“, 2nd ed. 2017 by Philip Kotler, Svend Hollensen and Marc Opresnik

This is an excerpt from the second edition of our book on „Social Media Marketing“ by Philip Kotler , Svend Hollensen and me which is globally availabe via Amazon.

Get the latest publication from the ‚Father of modern Marketing‘ Phil Kotler now:

Link to US amazon site: http://amzn.to/2xxsJCj

Link to German amazon site: https://lnkd.in/gNk6T6V

 

This second updated and extended edition of ‘Social Media Marketing’ guides through the maze of communities, platforms, and social media tools so that markers can decide which ones to use, and how to use them most effectively.

Endorsements

‘This book is an indispensable guidance for 21st century professional marketers, who seek to leverage social media to win in consumer communication.’ Kohzoh Takaoka, President & CEO, Nestlé Japan Ltd.

‘In marketing today, there is social media and everything else. This is the book that will help you master social media, the indispensable element in every marketing program.’ Al Ries, Chairman, Ries & Ries

1.1 Introduction to Marketing Planning

Marketing is the organization function charged with defining customer targets and the best way to satisfy their needs and wants competitively and profitably. Because consumers and business buyers face an abundance of suppliers seeking to satisfy their every need, companies and not-for-profit organizations cannot survive today by simply doing a good job. They must do an excellent job if they are to remain in the increasingly competitive global marketplace. Many studies have demonstrated that the key to profitable performance is knowing and satisfying target customers with competitively superior offers. This process takes place today in an increasingly global, technical, and competitive environment.

There are some key reasons why marketing planning has become so important.

Recent years have witnessed an intensifying of competition in many markets. Many factors have contributed to this, but amongst some of the more significant are the following:

·       A growth of global competition, as barriers to trade have been lowered and global communications improved significantly.

·       the role of the multinational conglomerate has increased. This ignores geographical and other boundaries and looks for profit opportunities on a global scale.

·       In some economies, legislation and political ideologies have aimed at fostering entrepreneurial and ‘free market’ values.

·       Continual technological innovation, giving rise to new sources of competition for established products, services and markets.

The importance of competition and competitor analysis in contemporary strategic marketing cannot be overemphasized. Indeed, because of this we shall be looking at this aspect in more depth in later chapters. This importance is now widely accepted amongst both marketing academics and practitioners. Successful marketing in a competitive economy is about competitive success and that in addition to a customer focus a true marketing orientation also combines competitive positioning.

The marketing concept holds that the key to achieving organizational goals lies in determining the needs and wants of target markets, and delivering the desired ‘satisfaction’ more effectively and resourcefully than competitors (Hollensen, 2006).

Marketing planning is an approach adopted by many successful, market-focused companies. While it is by no means a new tool, the degree of objectivity and thoroughness with which it is applied varies significantly.

Marketing planning can be defined as the structured process of researching and analyzing the marketing situations, developing and documenting marketing objectives, strategies, and programs, and implementing, evaluating, and controlling activities to achieve the goals. This systematic process of marketing planning involves analyzing the environment and the company’s capabilities, and deciding on courses of action and ways to implement those decisions. As the marketing environment is so changeable that paths to new opportunities can open in an instant, even as others become obscured or completely blocked, marketing planning must be approached as an adaptable, ongoing process rather than a rigid, static annual event.

The outcome of this structured process is the marketing plan, a document that summarizes what the marketer has learned about the marketplace and outlines how the firm plans to reach its marketing objectives. In addition, the marketing plan not only documents the organization’s marketing strategies and displays the activities that employees will implement to reach the marketing objectives, but it entails the mechanisms that will measure progress toward the objectives and allows for adjustments if actual results take the organization off course.

Marketing plans generally cover a 1-year-period, although some may project activities and financial performance further into the future. Marketers must start the marketing planning process at least several months before the marketing plan is scheduled to go into operation; this allows sufficient time for thorough research and analysis, management review and revision, and coordination of resources among functions and business units.

Marketing planning inevitably involves change. It is a process that includes deciding currently what to do in the future with a full appreciation of the resource position; the need to set clear, communicable, measurable objectives; the development of alternative courses of action; and a means of assessing the best route towards the achievement of specified objectives. Marketing planning is designed to assist the process of marketing decision making under prevailing conditions of risk and uncertainty (Hollensen and Opresnik, 2015).

Above all the process of marketing planning has several benefits (Hollensen, 2006):

·       Consistency: The individual marketing action plans must be consistent with the overall corporate plan and with the other departmental or functional plans.

·       Responsibility: Those who have responsibility for implementing the individual parts of the marketing plan will know what their responsibilities are and can have their performance assessed against these plans. Marketing planning requires management staff to make clear judgmental statements about assumptions, and it enables a control system to be designed and established whereby performance can be assessed against pre-defined criteria.

·       Communication: Those implementing the plans will also know that the overall objectives are and how they personally may contribute in this respect.

·       Commitment: If the plans are agreed upon by those involved in their implementation, as well as by those who will provide the resources, the plans do stimulate a group commitment to their implementation, and ultimately lead to better strategy-implementation.

Plans must be specific to the organization and its current situation. There is not one system of planning but many systems, and a planning process must be tailor-made for a particular firm in a specific set of conditions. Marketing planning as a functional activity has to be set in a corporate planning framework. There is an underlying obligation for any organization adopting marketing planning systems to set a clearly defined business mission as the basis from which the organizational direction can develop. Without marketing planning, it is more difficult to guide research and development (R&D) and new product development (NPD); set required standards for suppliers; guide the sales force in terms of what to emphasize, set realistic, achievable targets, avoid competitor actions or changes in the marketplace. Above all, businesses which fail to incorporate marketing planning into their marketing activities may therefore not be able to develop a sustainable competitive advantage in their markets (Hollensen, 2006).

To be continued…

Have a look into the book:

Link to US amazon site: http://amzn.to/2xxsJCj

Link to German amazon site: https://lnkd.in/gNk6T6V

15th edition of ‚Marketing Management‘ by Kotler, Keller and Opresnik now available

I am extremely happy: the 15th edition of marketing management book, the ‚bible of marketing‘, by marketing legend Philip Kotler and Kevin Keller and me just arrived at my home! It is available in German at book stores and amazon globally. Thanks to all the supporters world-wide who contributed case studies and insight!

https://www.amazon.de/Marketing-Management-Konzepte-Instrumente-Unternehmensfallstudien-Pearson-Studium-Economic-ebook/dp/B074DQTRQX/ref=sr_1_5?ie=UTF8&qid=1502466240&sr=8-5&keywords=opresnik

I am honoured to be the co-author next to gurus such as Kevin Keller and Phil Kotler. Thanks to them as well.

Enjoy the book, Marc

 

Interview with me in „The Marketing Journal“ about my new book „Social Media Marketing“ co-authored with Philip Kotler and Svend Hollensen

Nice interview about my moste recent #book on #socialmedia with #marketing guru Philip Kotler and my friend Svend Hollensen for „The Marketing Journal“.

“Social Media Marketing: A Practitioner Guide” – An Interview with Marc Opresnik

You may buy the book globally on all #amazon sites as an ebook for just 9,99 USD and for just 19,99 USD as paperback:

USA: https://www.amazon.com/Social-Media-Marketing-Practitioner-Management-ebook/dp/B06Y48PR3J/ref=sr_1_1?ie=UTF8&qid=1494673589&sr=8-1&keywords=opresnik+hollensen

UK: https://www.amazon.co.uk/Social-Media-Marketing-Practitioner-Management/dp/1521023344/ref=sr_1_1?ie=UTF8&qid=1494673644&sr=8-1&keywords=opresnik+hollensen

Germany: https://www.amazon.de/Social-Media-Marketing-Practitioner-Management/dp/1521023344/ref=sr_1_1?ie=UTF8&qid=1494673696&sr=8-1&keywords=opresnik+hollensen+social

Thanks for your interest and all the best,

Marc Opresnik

About the book

Marketing communication is undergoing a digital revolution. The increasing popularity of blogging, podcasting, and social networks enables world customers to broadcast their views about a product or service to a potential audience of billions. Traditional advertising does not work as well as it has in the past.

 

This book on ‘Social Media Marketing’ guides through the maze of communities, platforms, and social media tools so that markers can decide which ones to use, and how to use them most effectively. With an objective approach and clear, straightforward language, it shows how to plan and implement campaigns intelligently, and then measure results and track return on investment. For beginners overwhelmed by too many choices as well as seasoned professionals eager to improve their game, this comprehensive book is full of tactics that have been proven to work in the real marketing world. This book will take you beyond the jargon to social media marketing mastery. But that is not all. This book is like a guide through your social media marketing strategy process. All the insights will naturally be explained, but you will also learn how to arrive at them. So here you will read, for example, not only that you need to communicate you brand in a consistent way to enhance ex-posure, but you also need to learn how to set up your communication strategy as a good basis for increasing and maintain your value add and brand proposition – all written in a concise and easy to understand manner.

 

Endorsements

‘This book is an indispensable guidance for 21st century professional marketers, who seek to leverage social media to win in consumer communication.’

Kohzoh Takaoka, President & CEO, Nestlé Japan Ltd.

 

‘In marketing today, there is social media and everything else. This is the book that will help you master social media, the indispensable element in every marketing program.’

Al Ries, Chairman, Ries & Ries

 

‘This book is a comprehensive treatment of social media marketing where the principles and strategies laid out for the executives could result in a significant profitable growth for many firms.’

V Kumar, Ph.D., Richard and Susan Lenny Distinguished Chair, &  Regents’ Professor of Marketing, Georgia State University, USA

 

About the authors

Philip Kotler is the S. C. Johnson & Son Distinguished Professor of International Marketing at Northwestern University’s Kellogg School of Management, and one of the world’s leading authorities on marketing. His writing has defined marketing around the world for the past decades. Philip Kotler is the recipient of numerous awards and honorary degrees and is widely considered as the ‘Father of Modern Marketing’.

 

Svend Hollensen is an Associate Professor of International Marketing at the University of Southern Denmark. He is the author of globally published textbooks and several articles in well-recognised journals. Svend Hollensen has also worked as a consultant for several multinational companies, as well as global organizations like the World Bank.

 

Marc Opresnik is a distinguished Professor of Marketing at Luebeck University of Applied Sciences and Member of the Board of Directors at SGMI Management Institute St. Gallen. He is Chief Research Officer at Kotler Impact Inc. and a global co-author of marketing legend Philip Kotler. With his many years of international experience, Marc Opresnik is one of the world’s most renowned marketing, management and negotiation experts.

 

Kotler on „Social Media Marketing“ – new book by Kotler, Hollensen and Opresnik

Social Media Marketing

I am excited to announce that the brand new book from #marketing guru Philip Kotler, Svend Hollensen and me is now available globally via Amazon.com as Amazon Kindle #ebook and #paperback – „#SocialMediaMarketing“ I would appreciate if you would have a look at it, share the link and support it – thanks!

The price for the eBook is just 9,38 EUR and for the paperback 19,59 EUR!

https://www.amazon.de/Social-Media-Marketing-Practitioner-Management-ebook/dp/B06Y48PR3J/ref=sr_1_1?ie=UTF8&qid=1493477415&sr=8-1&keywords=social+media+marketing+opresnik

About the book

Marketing communication is undergoing a digital revolution. The increasing popularity of blogging, podcasting, and social networks enables world customers to broadcast their views about a product or service to a potential audience of billions. Traditional advertising does not work as well as it has in the past.

 

This book on ‘Social Media Marketing’ guides through the maze of communities, platforms, and social media tools so that markers can decide which ones to use, and how to use them most effectively. With an objective approach and clear, straightforward language, it shows how to plan and implement campaigns intelligently, and then measure results and track return on investment. For beginners overwhelmed by too many choices as well as seasoned professionals eager to improve their game, this comprehensive book is full of tactics that have been proven to work in the real marketing world. This book will take you beyond the jargon to social media marketing mastery. But that is not all. This book is like a guide through your social media marketing strategy process. All the insights will naturally be explained, but you will also learn how to arrive at them. So here you will read, for example, not only that you need to communicate you brand in a consistent way to enhance ex-posure, but you also need to learn how to set up your communication strategy as a good basis for increasing and maintain your value add and brand proposition – all written in a concise and easy to understand manner.

 

Endorsements

‘This book is an indispensable guidance for 21st century professional marketers, who seek to leverage social media to win in consumer communication.’

Kohzoh Takaoka, President & CEO, Nestlé Japan Ltd.

 

‘In marketing today, there is social media and everything else. This is the book that will help you master social media, the indispensable element in every marketing program.’

Al Ries, Chairman, Ries & Ries

 

‘This book is a comprehensive treatment of social media marketing where the principles and strategies laid out for the executives could result in a significant profitable growth for many firms.’

V Kumar, Ph.D., Richard and Susan Lenny Distinguished Chair, &  Regents’ Professor of Marketing, Georgia State University, USA

 

About the authors

Philip Kotler is the S. C. Johnson & Son Distinguished Professor of International Marketing at Northwestern University’s Kellogg School of Management, and one of the world’s leading authorities on marketing. His writing has defined marketing around the world for the past decades. Philip Kotler is the recipient of numerous awards and honorary degrees and is widely considered as the ‘Father of Modern Marketing’.

 

Svend Hollensen is an Associate Professor of International Marketing at the University of Southern Denmark. He is the author of globally published textbooks and several articles in well-recognised journals. Svend Hollensen has also worked as a consultant for several multinational companies, as well as global organizations like the World Bank.

 

Marc Opresnik is a distinguished Professor of Marketing at Luebeck University of Applied Sciences and Member of the Board of Directors at SGMI Management Institute St. Gallen. He is Chief Research Officer at Kotler Impact Inc. and a global co-author of marketing legend Philip Kotler. With his many years of international experience, Marc Opresnik is one of the world’s most renowned marketing, management and negotiation experts.