November 3, 2009 | In: credit card

Mjh Group: Marketing Strategy & Marketing Management

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.

Question about marketting

Hi, m a commerce graduate and want to do my carreer in marketting. what should i go for MBA or something else?
I am more interested in marketting and networking. I also have a good experience in it. what should i go for other than MBA?

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.

Tags: affiliate, makemoney, marketing, niche, online

18 Responses to Mjh Group: Marketing Strategy & Marketing Management

universe

November 3rd, 2009 at 9:40 am

It is not a good combination. The skills and talents required are entirely different.I can not see many successful technical person in advt. mktg.or media.

November 3rd, 2009 at 10:03 am

You have to be a good speaker, salesperson, and work hard.

Dhanesh P

November 3rd, 2009 at 10:06 am

hi, i'm bron….i'm a internet marketing executive working for an australian company since 5 years.
if at all u have a website for ur computer training institution,by internet marketing strategies we can enhance your website rank in the search engines like google,yahoo and msn.i mean we can promote the search results of your website.it can help your website to be in the top rankings in the search engines and improve the number of visitors to visit your website.so that you can have many leads.

for more information:
http://www.trafficassistants.com/
http://www.oms3.com/homepage.html
http://www.trafficassistants.com/hire_a_traffic_assistant.html

Misanthropic

November 3rd, 2009 at 6:38 pm

probably because his marketing strength is the younger wrestling fans. and since he is so over with them, why even bother to convert older male fans? the old saying is 'go with what brung you to the dance' and the younger fans definitely brought cena to the dance. screw em anyway he sux!

Blogger

November 4th, 2009 at 3:39 am

Hello , who want to win psp , ipod touch mac and other cool prizes..? Sent me pm or my email aistis200@gmail . com with your email and you get your invitation within 1hours !

Anonymous

November 4th, 2009 at 2:08 pm

why does anyone listen to this turdball? He’s a fraud

Vithoba H

November 4th, 2009 at 9:36 pm

Usually, Incentive is a deffer ed payment of productive calls made by Marketing Executives, depending on quantum of Business booked by an Executive from the margin. You may give any thing between 10 to 15 % of your margin as an incentive to each Executive for additional Business i.e., beyond Target. Target too has to be fixed scientifically.

Anonymous

November 5th, 2009 at 5:22 am

the best offline marketing tool I found. Works wonders. everyone loves this. click my link to see it.

sharon

November 5th, 2009 at 9:02 am

If you are not interested in MBA then go for a diploma in Maketing.
Try to find that in your city,which colleges provide such diploma's and other information like fees,duration etc.

sh1zzared

November 5th, 2009 at 11:25 pm

Rather than a stunt, maybe go for effective.

Use direct mail.

You have an advantage here in that people respond to "food offers" more than any other kind of direct mail.

Most managers mistakingly believe that they lose money whenever they give discounts…..bzzzzt! wrong.

By getting people to respond to your insane direct mail offer, you will increase your revenue by creating sales from those customers in a time frame that would not have happened naturally.

In other words, you are getting that guy who, on his own accord comes in say, once a month, or you might see him every two months for like three days that week, to come through your doors twice a month. You are increasing the frequency of purchases.

If you send out a worthwhile offer, they will respond….over and over…and over.

If you have a lame offer….ya..they won't budge.

ask your customers what it would take…get some feedback….then create a nice professional looking piece or two….send them out….get feedback….tweek the thing, till it produces results consistently.

This is how smart companies use direct mail. ….you know…the ones who use it year after year….thwy do it because they've learned how to make it work for them.

emi

November 6th, 2009 at 1:13 am

Just learn japanese, german or chinese and you will be fine.

Anonymous

November 6th, 2009 at 3:59 am

Coming up with the next iteration of the “world’s biggest ball of yarn” doesn’t seem that groundbreaking.

And there was a mustard revolution… Grey Poupon.

WPBlog Shop

November 6th, 2009 at 12:21 pm

someone needs to flush this turdball, seth godin down the toilet where he belongs.

brettadamwilson

November 6th, 2009 at 1:47 pm