Chapter 3: The E-Marketing Plan
Overvie w of the E-Marketing Planning Process
The e-marketing planning process entails three steps: marketing plan creation, plan implementation, and plan evaluation/corrective action.
Creating an E-Marketing Plan
The e-marketing plan is a blueprint for e-marketing strategy formulation and implementation. It serves as a road map to guide the direction of the firm, allocate resources, and make tough decisions at critical junctures. The Napkin Plan The idea that many dot.com entrepreneurs were known to simply jot their ideas on a napkin over lunch or cocktails and then run off to find financing. This is also known as the just-do-it, activity-based, bottom-up plan. The Venture Capital E-Marketing Plan Dot.com’s can be financed privately through angel investors or family/friends, or through venture capitalists. Venture capitalists invest in good ideas with competent people running the business and generally look for an exit plan to get their money and profits out of the venture within a few years.
A Seven-Step E-Marketing Plan
Seven key planning elements include a situation analysis, e-marketing strategic planning, the plan objectives, e-marketing strategy, an implementation plan, the budget, and a plan for evaluating success.
Step 1 – Situation Analysis
The situation analysis is also known as the SWOT (strengths, weaknesses, opportunities, and threats) analysis which examines the internal strengths and weaknesses and the external opportunities and threats. Three key environmental factors that affect emarketing include legal, technological, and market-related factors.
Step 2 – E-Marketing Strategic Planning
Strategic planning involves determining the fit between the organization’s objectives, skills, and resources and its changing market opportunities, also known as tier 1 strategies. This includes segmentation, targeting, differentiation, and positioning.
Step 3 – Objectives
Objectives are to...