Mjh Group: Marketing Strategy & Marketing Management

<h1>Mjh Group: Marketing Strategy & Marketing Management</h1>Author: <a title="Marketing Answers" href="http://www.articlesbase.com/authors/marketing-answers/58005.htm">Marketing Answers</a>  
How much should I spend on marketing?
 
This is a common question that marketing consultants gets asked on a regular basis.
 
The simple answer is that there is no hard a fast rule – it depends on the competitive environment, the stage of business development, the product or service category and the balance of advertising designed to promote the brand vs advertising designed to generate a specific response.
 
As a result of these factors, marketing budgets are best set based on careful analysis of a number of factors as part of a Marketing Strategy not via the often used % of sales method.
 
If you are looking to develop a deeper understanding of your marketing budget then there are two good places to start.
 
<ol> 
<li>Brand Awareness- Analysing the level of advertising that is appropriate to reach your target markets with appropriate levels of frequency and credibility</li> 
</ol> 
 
<ol> 
<li>Specific Response – Analysing the response and conversion rates you are achieving from various forms of advertising</li> 
</ol> 
 
Brand awareness is a direct product of the  Marketing Strategy – by identifying the key target markets and having an understanding of the competitive environment it is possible to establish a picture of the level and types of “brand” advertising required to generate awareness of the brand for new customers and reinforce the message with existing consumers. 
 
Planning the elements of the campaign designed to generate a specific response is more closely aligned with the sales budgets and requires analysis of the response and conversion rates you are achieving from various forms of advertising.
 
Using response and conversion rates as a starting point allows MJH Group to determine the expected result for a particular level of spend in a particular area and plan the marketing strategy accordingly. This is correlated to the sales budget to help plan the necessary mix of advertising required to drive the response to deliver the sales result. About the Author: MJH Group Marketing supports companies who want to be more innovative and effective in their marketing by providing marketing tips and expertise to develop strategic and tactical marketing programs.Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/software-articles/mjh-group-marketing-strategy-marketing-management-566012.html" title="Mjh Group: Marketing Strategy & Marketing Management">Mjh Group: Marketing Strategy & Marketing Management</a>

How much should I spend on marketing?

This is a common question that marketing consultants gets asked on a regular basis.

The simple answer is that there is no hard a fast rule – it depends on the competitive environment, the stage of business development, the product or service category and the balance of advertising designed to promote the brand vs advertising designed to generate a specific response.

As a result of these factors, marketing budgets are best set based on careful analysis of a number of factors as part of a Marketing Strategy not via the often used % of sales method.

If you are looking to develop a deeper understanding of your marketing budget then there are two good places to start.

Brand Awareness- Analysing the level of advertising that is appropriate to reach your target markets with appropriate levels of frequency and credibility

Specific Response – Analysing the response and conversion rates you are achieving from various forms of advertising

Brand awareness is a direct product of the Marketing Strategy – by identifying the key target markets and having an understanding of the competitive environment it is possible to establish a picture of the level and types of “brand” advertising required to generate awareness of the brand for new customers and reinforce the message with existing consumers.

Planning the elements of the campaign designed to generate a specific response is more closely aligned with the sales budgets and requires analysis of the response and conversion rates you are achieving from various forms of advertising.

Using response and conversion rates as a starting point allows MJH Group to determine the expected result for a particular level of spend in a particular area and plan the marketing strategy accordingly. This is correlated to the sales budget to help plan the necessary mix of advertising required to drive the response to deliver the sales result.

MJH Group Marketing supports companies who want to be more innovative and effective in their marketing by providing marketing tips and expertise to develop strategic and tactical marketing programs.

Rate this Article:

5 / 5 stars - 2 vote(s)

Re-Publish

Related Articles
Related Q&A

Article Source: http://www.articlesbase.com/software-articles/mjh-group-marketing-strategy-marketing-management-566012.html

Article Tags: Small Business Marketing, Marketing Campaign, Marketing Strategy, Strategic Marketing, Marketing Services, Marketing Management, Marketing Company, Customer Research, Customer Intelligence, Marketing Consultant Melbourne, Marketing Answers, Marketing Ag

Latest Software Articles
More from Marketing Answers

Four Common Questions about Computer Animation

By: Benicio Brown | 10/07/2009
This article answers four common questions that people ask regarding computer animation. What is computer animation?, What is the difference between computer animation and traditional animation?, Why are there so many computer animation programs?, and What is the right computer animation software for me? Answers are written in a concise non-technical style.

Great Plains Support: Chicago, San Diego Dynamics GP Partner Newsflash

By: Andrew Karasev | 09/07/2009
If you have Microsoft Dynamics GP, formerly known as Great Plains Dynamics, eEnterprise, or even Great Plains Accounting for DOS and Windows, regardless of the version, please read your local and nationwide ERP and MRP support highlights.

Best Windows Registry Fixer

By: Ricky Lim | 09/07/2009
Many satisfied users have accepted that among many registry clean up programs RegCure is definitely the best registry fixer. You will also find other registry fixers like the Registry TuneUp, RegSweep, Error Smart, Registry Easy, Registry Fix, etc., and each one is equipped with features so that the registry troubles can be fixed.

Proper time and attendance management for efficient workforce planning

By: Pooja Rai | 09/07/2009
A proper workforce planning schedule ensures that the organization has access to a workforce that has the desired skills and competencies needed for its future growth. This process involves planning for the future while keeping in mind the goal and objectives of that organization.

Upgrading Apple Mac Pro Memory

By: Shon Michal | 09/07/2009
Apple Power Mac G5 Memory: For Apple Power Mac G5 Memory, Apple Power Mac G5 Memory Upgrade, Power Mac G5 Memory, Apple Power G5 Memory Upgrade visit House of memory

Fix PC Error Messages With the Right Error Repair Tool

By: bandoswuu qiye, Jr. | 09/07/2009
The Personal computer (PC for short) has become a all-important allotment of accustomed activity for a lot of humans these days. We use PC's to do homework, to accumulate in blow with accompany and family, to do plan for our jobs and abundant more. We aswell absorb a lot of our time troubleshooting PC accompanying problems and errors. This is the arresting allotment of getting a PC owner.

How to Convert Protected WMA to MP3 for iPhone 3GS

By: terry007 | 09/07/2009
This tutorial is going to show you how to remove DRM from protected WMA and convert DRM protected WMA to MP3 for playback on Apple iPhone, iPhone 3G and the newest iPhone 3GS using TuneClone Audio Converter.

How to Handle RAID Level 5 Array Failure

By: Andrew Watson | 09/07/2009
Stellar Data Recovery Inc. delivers recovery service to handle most of the data loss situations. The service is performed in Class 100 Clean Rooms under the supervision of recovery professionals.

Small Business Marketing: - Enjoy Clear Direction & Peace of Mind

By: Marketing Answers | 18/08/2008 | Marketing Tips
MJH Group places an emphasis on delivering a measurable return on investment to our clients. Our core objective is to apply our expertise and proven process to secure you new customers an improved business performance. MJH Group Marketing supports companies who want to be more innovative and effective in their marketing by providing marketing advice and expertise to develop strategic and tactical marketing programs.