Marketing is the activities that a firm/person undertake to promote the selling, buying, or exchange of a product or service. There is modern four P’s of marketing, which are people, process, programs, and performance. Marketing campaigns could be designed by marketer following the modern four P’s to effectively reach the target audience. In addition, there are four A’s of marketing that creates value to customers, which are availability, affordability, awareness, acceptance. Availability could be through either customer availability or convenience. Affordability could be through either economical or psychological understanding of value of product/service against costs. Awareness could be through either product knowledge or brand awareness. Acceptance could be through either feature or psychological acceptance. Furthermore, investigating the top trending products to sell either online or in-person would help the campaign to success. People don’t want to buy a product/service that is outdated.
The effectiveness of the marketing strategy could be calculated in various ways, based on the desired intent. The contribution margins help the business to know how a specific product contributes to the firm’s profit. On the other hand, the profit margin helps to calculate the total amount of revenue from sales that exceeds costs. Moreover, there is a concept called breakeven that helps the marketer to locate the point that total costs equal to total revenue. This will help the firm to set the required minimum target to avoid losses and achieve profits.
12 week-year concept is a great tool for a marketer to implement during their planning phases that helps to accomplish most of the annual goals that are pinned. This concept redefines the year (12monthes) into 12-weeks (90days) cycle. Using this tool helps to measure the success or failure of a marketing strategy based on the level of accomplishment of the goals for the desired cycle. Further, the tool provides the marketer to boost focus and urgency on upcoming goals for the 12-week cycle to achieve rather than 12 months. The tool helps the marketer to simplify, organize, and track goals. The concept requires 70% of completion to success in implementing the concept. On average people that success implementing the 12 week-year concept find 30% increase in results.