Strategic Marketing

This report discusses the importance of strategic marketing in the digital age and explores the RACE framework for creating and managing a digital strategy. It covers the concepts of reach, act, convert, and engage, and how they can be applied to achieve business goals. The report also highlights the role of digitalization and social media in effective marketing. References and resources for further reading are provided.

Strategic Marketing
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TABLE OF CONTENT
INRODUCTION..............................................................................................................................3
RACE FRAMEWORK................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5
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INRODUCTION
Strategies are formulated by each and every organisation to effective market its products and
services at the same time meet needs of customers. Due to various change in technologies
companies are shifting their business operation through digitalisation and social media to
communicate with customers, employees and investor of company. This report is about Water
thirsty planet that is planning to market its product through digitalisation togain competitive
advantages.
RACE FRAMEWORK
Race marketing planning model consist of developing simple structure into digital
marketing or multichannel communications plans which overcomes the challenges coming in
reaching and engaging people online to make aware conversion to online or offline sales (Sahi,
Gupta and Lonial, 2018). Water thirsty planet uses RACE planning framework for creating and
managing a digital strategy such as:
REACH
This is used to generate traffic of auditions on online or offline media through paid
promotion. Water thirsty planet uses Traffic of people on their sites or websites to make aware of
the products and services in order to generate sales to achieve the profit margins (Mahmoud,
2016). Social media, email marketing, search are some marketing used by the company to reach
between the targeted customers of the company to achieve the goals. This creates maximum
reach between the audition on social media pages, sites, websites etc. of the company which are
earned or owned media touch points.
ACT
It refers to generate online leads for the business to make the sale of the products and
services for water thirsty planet. This may mean to finding out more products or details about
water thirsty planet, reading of blog post for the company to achieve the goals. Detailing of
products and services of the company helps the visitors or prospects on official websites (Pecot,
and De Barnier, 2017). View of products, adding into the cart, registered as member, signing up
in the sites is included in the goals of the company so that it can earn large amount of profit.
CONVERT
Water thirsty planet focuses simply on the sale of product by giving the payment
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information to help the customer for completing the business transaction. Company involves the
audience to take the next step that is to convert paying customers whether the payment is taken
through e-commerce or offline channels in order to complete the business transaction for the
company. As RACE is a multichannel framework which aims on sales of the company through
online or offline channels.
ENGAGE
Water thirsty planet focuses on building permanent relationship with the customers to
make repeated sale for achieving the goals for the company. Repeating of customers through the
sale of the company leads to satisfaction level. Therefore, satisfied customers are loyal for the
company which results in generating of profits through permanent sales on equal interval of time
(French and Gordon, 2019). Company also engage its customer through communication or by
providing special services to the loyal customer for making the business transaction and making
the permanent customer satisfied as being doing in the past.
CONCLUSION
From the above report it can be concluded that innovative and digitalisation has promoted
growth and expansion of water thirsty planet. Such medium helps in effective connection with
customers, investor so that company can achieve its desired goals. At last it can be explained that
race is an effective model to connect with customers within limited time and cost.
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REFERENCE
Book and journals
French, J. and Gordon, R., 2019. Strategic Social Marketing: For Behaviour and Social Change.
SAGE Publications Limited.
Mahmoud, M. A., 2016. Sustainable market orientation: a competitive strategic tool in an
emerging economy context. Journal of Strategic Marketing, 24(7). pp.635-654.
Pecot, F. and De Barnier, V., 2017. Strategic Management of Brand Heritage: Two Positioning
Perspectives. In Marketing at the Confluence between Entertainment and Analytics (pp.
69-69). Springer, Cham.
Sahi, G. K., Gupta, M. C. and Lonial, S. C., 2018. Relating strategic market orientation and
market performance: role of customer value types. Journal of strategic
marketing, 26(4). pp.318-338.
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