MKT 571: Promotion and the Product Life Cycle

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Research Marketing Questions

Week 1

Memo

To:, Senior Vice President (SVP) Marketing Department

FROM:, Analyst

Date: March 20, 2017

SUBJECT: Marketing Strategies to Improve the Company’s Revenue Earnings

Thank you in advance for reading this memo that identifies what I have reviewed based on our company collected data and financials.

From my analysis, I see that we have experienced some changes in the revenue earnings from 2015 and Quarter’s One and Two from 2016 financial year, this could be based on the strategic operations adopted. There was a general improvement in the company’s financial performance; there were areas that had a noticeable decrease in revenues; this could be possibly due to management not releasing the funds to finances promptly for implementation of strategic plan.

In the review, I noticed three major areas showing increased revenues were the Domestic in our Global Breakout area, Expand in the Customer Rank area and Commercial in our Customer Class area. Please see the table below this provides a full view of what the Revenue Earnings were in both quarter’s one and two as well as the comparison and increase from 2015 vs. 2016.

 (University of Phoenix, 2017, p. Spreadsheet).

The increase in revenue was due to the growth made by our marketing and advertisement teams and their incredible strategic planning for improvement.

In my analysis, I also found some areas where the services sector was lower on the revenue earnings in the last quarter of 2015 as well as the first two-quarters in 2016. It is important that changes are made to ensure there is productivity from all the sectors. My recommendation in this area would be to allocate additional funds to their financing and operations to attempt and correct some of their losses; this is similar to what we did with the other three identified, and we did very well.

The overall analysis of the company revenue earnings shows that there has been a general increase in the last few years based on the data received and reviewed. It is clear that we rely on all of our customers for our products, but it is important to provide an expansion strategy and that we adopt as soon as possible to continue to help and venture into the foreign markets and reach a higher market share. If we adopt this expansion strategy, this will more than likely help increase our revenue as it has in the past two consecutive years.

My analysis includes a review of the data of our domestic customers, they are our principal assets, and we seek to attract and retain more of the customers through a motivated workforce. The major objective of our marketing strategies is to increase our market outreach to domestic customers by enhancing their awareness of the existence of our products and services. We will need to conduct intensive marketing campaigns through online marketing and broadcasting advertising, and we will need to additionally explore marketing in the foreign countries to help increase opportunities to a much larger audience and attempt to excel from what other existing companies are providing and marketing.

We need to focus on attracting new clients not so much the retention only of the existing customers. We will need to establish customer trust and royalty by the production of quality, affordable and after sale services in addition to our company considering changing the operations to ensure premium services and products to be differentiated in the industry. We need to hire and recruit employees in our production lines that are competent, properly trained, have knowledge of our company products as well as the goal and direction of the growth vision. Workers that can use their skills consistently and also increase our technological requirements for the recruits, this will provide us with the best of the best.

Sincerely,

, Analyst

Part two

Summary of a Company of Choice

Facebook is an LLC, and Headquarters are located in Menlo Park, California according to Google; also, Facebook was founded in February 2004 by Mark Zuckerberg and his four colleagues in Cambridge, MA (Google, 2017). The company operates in the social networking industry and has been one of the fastest growing enterprises in the industry. This company is a huge in the networking field/area. Facebook includes in-game social assess and targets social advertising. Facebook is key to facilitating social, online communication, social events, customer based marketing at finger tips as long as the consumer has a smartphone device, tablet, or a laptop with internet connectivity access.

Facebook has also diversified its services and offers other customer-oriented features such as affordability, flexibility, and reliability. The company uses acquisitions as a strategy to counteract competition and increase its market presence. For instance, it has acquired various businesses in the social networking industry including PrivateCore, WhatApp Inc., Oculus VR and Instagram. Facebook had a total of 450 full-time employees in 2007, but the number increased drastically to 12,691 employees in December 2015(Griggs, CNN, 2014).

Years ago, there was a social networking by the name of MySpace, which I used and in fact, I think that Facebook has surpassed anything MySpace ever had with social networking.

References

Google. (2017). Retrieved from https://www.google.com/search?client=safari&rls=en&q=what+city+are+the+headquaters+of+facebook&ie=UTF-8&oe=UTF-8#q=when+was+facebook+founded&*

Griggs, CNN, B. (2014). What's Oculus VR, and why did Facebook pay $2B for it?. Retrieved from http://www.cnn.com/2014/03/26/tech/gaming-gadgets/oculus-vr-explainer/

University of Phoenix. (2017). Business Growth Overview. Retrieved from University of Phoenix, MKT/571 website.