Marketing Strategy Formation Process
Let’s start with an introduction to digital marketing and the process which a firm would follow. This process begins with analyzing the environment including how the firm sees its customers, looking specifically at the geographical and cultural settings of the environment.
Step 1: Situation Analysis
Analyze:
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Market demand (Schools, Colleges, Businesses)
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Competitors
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Customer problems
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Strengths & weaknesses (SWOT)
👉 Example: Demand for ERP software in Bihar schools.
Step 2: Define Target Audience
Identify:
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School principals
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College administrators
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Business owners
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Startup founders
👉 Clear targeting increases conversion.
Step 3: Set Marketing Goals
Goals must be SMART:
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Increase website traffic by 30%
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Generate 50 leads per month
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Close 10 ERP clients quarterly
Step 4: Develop Marketing Mix (4Ps)
Product: ERP, Website Development, IT Services
Price: Competitive & value-based pricing
Place: Online (Website, Social Media)
Promotion: SEO, Ads, Social Media
Step 5: Implementation
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Launch SEO campaign
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Run Google Ads
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Post weekly on LinkedIn & Facebook
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Conduct monthly webinars
Step 6: Monitoring & Evaluation
Track:
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Leads generated
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Website traffic
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Conversion rate
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Cost per lead
Improve strategy based on results.