Marketing Plan Development, ICT, and E-commerce

The main purpose of the marketing plan is to be a concrete instrument for directing and coordinating the marketing effort of the company. The marketing plan is a document regulating commercial policy across the enterprise, goals, concrete actions, and timetable which take place.

Stages of Marketing Plan Development

• Analysis of the Situation. It is necessary to collect, analyze, and evaluate basic data for proper development of the plan. This analysis involves: Analysis of the actions undertaken by the company in prior periods; Study of the environment; Company image, products, sector, etc.; Staff qualifications (management, etc.); Distribution network (type of outlets, etc.); Competition (market share, etc.); Product (developed technology, costs, prices). With all this information, a SWOT analysis is performed: strengths and weaknesses arising from the internal evaluation of the company, and opportunities and threats that come from the external environment. It is important to try to turn weaknesses into strengths and threats into opportunities, or at least neutralize them. The SWOT analysis involves relating a strong point with a business opportunity.

• Determination of Objectives. The above information will enable the development of objectives to be achieved during the lifetime of the plan. The targets refer to positioning, sales, and economic viability. The objectives can be classified into: Quantitative targets (percentage of profits, attracting a number of new clients, etc.); Qualitative objectives (to improve the image, professional improvement of vendors, etc.).

• Development and Selection of Strategies. Strategies are the ways or actions a company takes to achieve its objectives. They are based on: identifying the target audience, the general approach of the marketing mix variables, overall evaluation of the plan, and documentation of the plan.

• Action Plan. These are concrete actions to be implemented to achieve what is intended by the strategy. The tactics must be related to the product (creating new brands, packaging, etc.), price (price review), promotion (improving the website), and the distribution channels (Internet penetration, improved delivery time). All actions to be performed must be related to positioning, and the extent of human resources involvement must be made clear.

• Budgeting. This is the quantification of the effort required for the company to implement the plan. When the management of the company approves the marketing plan, it means that all departments within the company accept it, implying a commitment by all to meet the goals.

• Control Methods. This allows seeing the degree of fulfillment of the targets as the strategies and specific actions defined are implemented. It allows detecting errors and deviations and implementing corrective measures.

The marketing plan is made for a specific period of time.

Application of ICT in Marketing

Using new technology, distance and time are no longer a problem. The advantages of ICT are:

• Market Research: promotes the treatment, management, analysis, and storage of information.

• Product: It increases competition, which leads to innovation and product differentiation.

• Price: Allows price differentiation. Furthermore, their use increases efficiency and productivity, lowering costs.

• Promotion: the use of email, etc., allows real-time promotions. Also, new forms of advertising such as cookies have been created.

• Distribution: increasing sales through electronic commerce.

Electronic Commerce Explained

Consists in buying and selling goods and services electronically. The main feature is that the consumer has no physical contact with the product. This involves: A modernization of the distribution process; the buyer and seller can be connected in different countries; The convenience of being able to buy for 24 hours without leaving home; Disappearance of intermediaries. Electronic commerce is divided into two types: B2B (business-to-business) and B2C (business-to-customer).

Types of Electronic Commerce

• B2B (Business-to-Business):

  • Procurement: a company plans its supply over the Internet, saving costs.

  • Sales: is a backbone of the market and an alternative form of commercial activity.

  • Sectoral Market: companies within the same sectors or interests interact through the Internet to sell and buy their products.

• B2C (Business-to-Customer):

  • Virtual Stores.

  • Virtual Auctions.

  • Shopping Malls.