Marketing Communications Strategy
Leadership Research Paper-Learning Team-Week 2 Assignment- Fo 's Part
Marketing Communications - Strategy
In marketing communications, the single most important tactic is Strategy. Too many marketers leap right into the details of communications without formulating a truly strategic plan.
As seen throughout the "Managing across the Organization" simulation, Good Sport Company established a sound strategic communications plan which includes establishing goals, conducting and compiling research, identifying key audiences, defining messages, targeting media, and developing creative, cost-effective ways to combine all these components to maximum effect. "Marketing strategic communications planning is not a secret science, and it needn 't be expensive. It starts with setting realistic goals for the communications program," Cynthia Fontayne said.
One company that relates to this is Costco. "With $59 billion in sales from 488 warehouse locations, Costco, No. 28 in the Fortune 500, is the fourth-largest retailer in the country and the seventh-largest in the world", cnn.com. "Costco Wholesale Corporation operates an international chain of membership warehouses, mainly under the "Costco Wholesale" name, that carry quality, brand name merchandise at substantially lower prices than are typically found at conventional wholesale or retail sources. The warehouses are designed to help small-to-medium-sized businesses reduce costs in purchasing for resale and for everyday business use. Individuals may also purchase for their personal needs," www.costco.com.
Costco uses various communication strategy tactics to win the trust and acceptance of their employees, board members, and customers. According to Jim Sinegal, the Company 's President and Chief Executive Officer, "Costco is able to offer lower prices and better values by eliminating virtually all the frills and costs historically associated with conventional wholesalers and retailers, including salespeople, fancy
Marketing Communications - Strategy
In marketing communications, the single most important tactic is Strategy. Too many marketers leap right into the details of communications without formulating a truly strategic plan.
As seen throughout the "Managing across the Organization" simulation, Good Sport Company established a sound strategic communications plan which includes establishing goals, conducting and compiling research, identifying key audiences, defining messages, targeting media, and developing creative, cost-effective ways to combine all these components to maximum effect. "Marketing strategic communications planning is not a secret science, and it needn 't be expensive. It starts with setting realistic goals for the communications program," Cynthia Fontayne said.
One company that relates to this is Costco. "With $59 billion in sales from 488 warehouse locations, Costco, No. 28 in the Fortune 500, is the fourth-largest retailer in the country and the seventh-largest in the world", cnn.com. "Costco Wholesale Corporation operates an international chain of membership warehouses, mainly under the "Costco Wholesale" name, that carry quality, brand name merchandise at substantially lower prices than are typically found at conventional wholesale or retail sources. The warehouses are designed to help small-to-medium-sized businesses reduce costs in purchasing for resale and for everyday business use. Individuals may also purchase for their personal needs," www.costco.com.
Costco uses various communication strategy tactics to win the trust and acceptance of their employees, board members, and customers. According to Jim Sinegal, the Company 's President and Chief Executive Officer, "Costco is able to offer lower prices and better values by eliminating virtually all the frills and costs historically associated with conventional wholesalers and retailers, including salespeople, fancy
References: Mathew Boyle. (October 25 2006). Why Costco is so addictive. Retrieved October 13, 2007, from http://money.cnn.com/magazines/fortune/fortune_archive/2006/10/30/ 8391725/index.htm Jim Sinegal. (April 17 2007). Investor Relations: Company Profile. Retrieved October 13, 2007, from http://phx.corporate-ir.net/phoenix.zhtml?c=83830&p=irol-homeprofile Cynthia Fontayne. (2004). Strategy: The Ultimate Communications Tactic. Retrieved October 13, 2007, from http://www.fontayne.com/ink/strategy.html