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Another type of marketing initiative you may invoke is a large scale shift in what you are doing. If you are going away from traditional marketing to exclusively use the internet that is a whole new marketing initiative you are putting in place. Though not as specific as other examples, it is certainly something that directly affects the marketing of your company. These types of initiatives are usually done parallelly with your existing marketing initiatives. The old initiatives are slowly phased out as the new one takes over.
A marketing initiative can also be as simple as a shift in an idea. You can have a new marketing initiative that simply changes the way you promote your company, or more specifically what about the company you are trying to promote. A shift in positioning is a good example.
Marketing initiative is a broad term that is used often. However, if you understand what it is you will be more able to effectively put an initiative in place if you need to. Changing or implementing an initiative is a big part of the promotion of your business. So it’s important that you understand what it means in the first place.
Source by Khemal Dole
Once you have decided to launch a marketing campaign you’ll need to be well prepared in implementing each strategy to make your campaign effective. Now that we’ve briefly touched on why communication is the backbone and an important aspect of marketing, let’s look at how marketing contributes to our sales and profitability.
It would be great to believe that every marketing strategy we’ve ever seen or heard was to inform us of a totally free product and there was no underlying motive to sell us anything. Unfortunately, since we know that is not true, you have to know that each consumer (you intend to reach with your product or service) is expecting you to offer something they need and find valuable. Especially, if it is not free! The viability of business rests upon marketing effectiveness. If it is not effective, you will lose sales and gain little-to-no profit. A successful campaign results in sales, happy customers and repeat business. If you can satisfy your customers during and after launching your marketing campaign, they will in turn recommend your business to others. As a result, this will increase your sales and profit margins. Prior to launching a campaign, you should always conduct marketing research that will allow you to:
1) Investigate how to best penetrate the market with the product or service you are offering.
2) Decide on a target audience and answer why would they be interested.
3) Test and utilize various strategies that would grasp consumer attention and call to action.
4) Determine what value is placed on your product (by consumers) through existing customer feedback/surveys.
5) Determine if previous strategies used have had an impact on sales and/or consumer interest.
Source by K. Garner-Chambers