3040MKT – DIGITAL AND SOCIAL MEDIA MARKETING
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DIGITAL AND SOCIAL MEDIA MARKETING (3040MKT)
Added on 2020-05-16
3040MKT – DIGITAL AND SOCIAL MEDIA MARKETING
DIGITAL AND SOCIAL MEDIA MARKETING (3040MKT)
Added on 2020-05-16
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Running head: INTEGRATED MARKETING PLAN1Dollar King Integrated Marketing PlanName Institution
INTEGRATED MARKETING PLAN2Dollar King Integrated Marketing PlanIntroduction Dollar King is an Australian discount store that sells a variety of items at reduced prices. The firm sells products ranging from homewares, Japanese goods, party wares, art and stationery, cards and gifts, kitchenware, tools, and home décor (Dollar King, 2018). The firm began trading in the year 2000 with the first store established at Hornsby Shopping Centre with the aim of creating a comfortable and competitive discount store to the customers. Currently, the firm has over 55 retail stores in major locations. The report outlines the marketing plan for the firm with a major focus on the strategies employed in embracing the digital platform in the promotion of its objectives and profitability plans. All these are examined through the several strategy placed in ensuring the presence and competitive pricing of the product to the market. 1.0Brand PropositionRight from the establishment of the firm in 2000, it has positioned itself as a brand name for the discounted products category offering competitive products to the market. The business has grown its brand through a realistic focus on delivery of products at competitive pricing to the customers. The firm has developed its brand position through corporate social responsibilities across the communities in areas of operation. Consequently, the strategy has grown awareness of the company allowing individuals to identify the stores quickly. Besides, the unique colors used in its stores are distinct enough to enable clients to identify the stores and reduce the competition from other similar firms. The present knowledge created over the one and a half decade of operation can be counted on to build the organization further and increase their profitability. The proper name generated can be
INTEGRATED MARKETING PLAN3used to promote the presence of the firm on the digital markets thus increasing traffic of the firms’ outlet. The feeling of purchasing products at a discounted price shall act positively towards enticing more market for the firm’s products. The display of much needed and essential products at competitive prices revitalizes the excellent feeling of remaining and encouraging repeat purchaseto the stores (Tiago & Veríssimo, 2014). The CSR programs promote the will of clients purchasing from the store. Every time a client makes a purchase, the knowledge that part of the proceeds shall go to make the environment better acts positively towards promoting referrals andincreased trade for the firm. The discounting aspect of the firm, with new products brought on the shelf all the time, givesit an upper hand while distinguishing it from other firms thus maintain a good name on the digital market platforms (Chaffey & Ellis-Chadwick, 2016).2. 0 KPI’s, Success Measures, Analytics2.1. Overall GoalsThe overall goal of the marketing plan is to create and increase brand awareness to the followers and adapt while maintaining a significant number of clients for the business. The WebsiteThe website of the firm is essential in creating awareness and convert new shoppers to its online purchases. The site is critical as it displays most of the products sold with the prices that are all-time competitive to what others offer. The digital strategy allows individuals select products and make a list of the items in demand and have the same delivered or picked from theirin-store location (Chaffey & Ellis-Chadwick, 2016). Customers are at liberty to select products and specify their nearest point of pick thus save time and money. At the same time, it gives a list
INTEGRATED MARKETING PLAN4of its stores thus making it easy for the clients to specify their location of choice and check on the availability of a given product. Moreover, the products are placed based on the demand of themarket thus serving the interests of different regions in its offering. Another strategy relates to the direct marketing where clients are viewing the sites and those reporting to their stores can leave their email address and have the firm do direct marketingin case of new product updates thus maintain a pool of customers for its project (Ryan, 2016). Besides, the strategy is meant to ensure a direct interaction with the clients where there remains aplace for suggestions.The query section allows the clients to give their opinion and preferences of several products and have the firm to them promptly. Addressing their concerns directly is a form of direct marketing that works for several areas of digital marketing through a fast response system (Ryan, 2016). Research indicates that customers who receive a fast response to their queries are three times likely to retain and attract more to business. Micro-Conversions The concept relates to the little path towards the conversion of viewers into customers to either make a purchase, refer a friend, or provide a donation for a worthy purpose. The micro-conversions on the website shall be measured through an increase in the number of individuals visiting he website. Chaffey (2017), notes that an increase in the number of people making an online purchase from the listed products shall indicate the success of the marketing platform. An increase in the number of subscribers to the emails on updates by over 300000 in a year’s time would mean success. Measures and Analytics
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