E-Marketing Plan Elaboration for Loop - Thesis Proposal Example

Thesis Proposal: E-Marketing Plan for Loop ………………………….. College ……………………………… ……………….. Introduction E-marketing has recently emerged to become an adaptive ‘smart’ technology since many businesses have developed social-media and other e-marketing platforms with a view to achieve their marketing objectives. In the contemporary marketing landscape, an e-marketer has to prepare his marketing plan for continually learning and evolving in response to changes in the business environments and to constantly adjusting and revising marketing practices to maintain ‘value’ to both organization and consumers (Dann and Dann, 2011). This paper presents a brief thesis proposal for e-marketing plan about Loop, World’s first mobile wallet that links cards, and provides competitive analysis and feasibility study about its e-marketing targets. Situation Analysis Situation analysis is one of the most essential components of en e-marketing plan. It provides a comprehensive overview of a company’s current situation related to marketing activities and it can help the firm identify and focus on the key variables in terms of revenues, profitability, competition and performance (Smith and Taylor, 2004). Internal and external environmental analysis with help of tools such as SWOT will be used for conducting environmental scanning of Loop’s e-marketing activities. Loop, a recent project developed by Will Graylin and George Wallner, will be an amazing experience for all customers worldwide as they can store and organize all their cards on their Smartphone to be used in retail and other major outlets. Loop is going to pioneer linking of cards to Smartphone for customers’ shopping purposes. Using e-marketing strategies for promoting it worldwide will certainly open greater opportunities of wider marketing. The SWOT and environmental analysis of Loop will focus strengths and opportunities including focus on value creation, customer relationship, wider opportunity of global market, innovation and R&D advantages, growing trends of using cards in stores and people’s perception about safety and security of cards etc. The analysis will also focus on weaknesses and threats such as shopper’s acceptance of linking with Loop, storage and transmission capacities in Smartphone, alliance with mobile Smartphone companies, hacking and spy-ware etc. E-marketing Objectives The main reason why e-marketing continues to create newer opportunities for marketing success is because it transforms marketing strategies to create more customer value through effective segmentation, targeting and positioning and creates exchanges that satisfy consumers’ requirements (Gay, Charlesworth and Esen, 2007). Social media sites and other internet platforms will be used for Loop’s marketing promotion worldwide. The major e-marketing objectives of Loop are outlined below: E-marketing will certainly open up wider marketing opportunities for Loop and to bring fruition the economic convergence (Dann and Dann, 2011). To gather timely information from customers and evaluate customers’ perception and feedback about usage of Loop products such as Loop Fob and Loop Charge-Case To maintain integrated marketing communication by keeping consistency in brand messages to be communicated to the public. To understand and recognize demands for Loop’s products pertaining to cards’ safety and security concerns among customers To design and develop those marketing strategies that can attract large numbers of customers across the world to promote them to use Loop’s mobile wallet to securely store and use all their cards. E-marketing strategy At the very heart of Loop’s marketing strategy is to generate newer ideas of business, identify hidden market opportunities by finding demand for Loop’s goods through proper e-marketing activities and design and develop products to meet customer’s requirements. As Loop’s mobile apps can help customers swipe in and scan in all those cards in their wallets and make better interactions with relevant card issuers to provide real-time data on balance, availability of credit, rewards, deals etc, its products and services are going to attract millions of people across the world. STP strategy will be a major focus of Loop’s e-marketing. STP- segmentation, targeting and positioning strategy provides a sound basis for effective communication and advertising (OGuinn, Allen and Semenik, 2011) to discover right customers, identify their specific requirements, attain customer loyalty through proper positioning etc. Marketers usually segment their markets by breaking the total market in to distinct sub-groups. This is perhaps the best marketing tool to set strategic framework for identifying and targeting right customers (Bygrave and Zacharakis, 2010). Loop’s markets worldwide will be segmented based on different cards such as credit, ID, gift, store or loyalty etc. As Lamb, Hair and McDaniel (2008) noted, a marketer is required to target a group of people by designing, implementing and controlling proper marketing mix with a view to meet individual requirements. For targeting Loop’s customers, it is very important to design proper marketing mix elements of its products, price, promotion and place. Another key strategic focus will be to position its brand. The e-marketer will uncompromisingly attempt to communicate Loop’s unique features and its benefits to customers as well as businesses so as to build a brand reputation among customers. Implementation of e-marketing plan It is very important for the marketer to decide on what specific websites or social media network to be selected for promoting Loop’s market and what type of brand messages to be communicated. He also has to decide on whether he should go for integrated marketing communication by using various other methods of promotion to enhance improved results. Implementation of e-marketing plan is not just an action plan, but the action itself and therefore the marketer requires to taking necessary steps to meet his e-marketing objectives and to develop e-marketing activities according to his strategic view points. Loop’s e-marketing plan will be implemented based on marketing objectives, marketing strategies etc. Budgets and Timeline A proper e-marketing plan should detail the budgets required for developing the marketing project. Loop’s e-marketing plan will provide an illustrated budget for developing its e-marketing activities, mainly comprising of likely costs to be incurred for social media advertising and other promotion costs. Similarly, it is again most important to demonstrate timeline required for completing each steps in developing e-marketing activities. Conclusion This paper provided a brief thesis proposal for social media marketing plan for Loop, a newly emerging mobile-wallet to link and organize cards and its functionalities. This paper has briefly outlined most critical components of an e-marketing plan, situation analysis, e-marketing objectives, e-marketing strategies and budgets as well as time line. Segmentation, targeting and positioning strategy will be a major focus of e-marketing so as to increase Loop’s marketing performance. References Bygrave, W. D and Zacharakis, A, 2010, Entrepreneurship, Second edition, John Wiley and Sons Dann, S and Dann, S, 2011, E-Marketing: Theory and Application, Palgrave Macmillan Gay, R., Charlesworth, A and Esen, R., 2007, Online Marketing: A Customer-Led Approach, Oxford University Press Lamb, C.W, Hair, J. F and McDaniel, J. C, 2008, Essentials of Marketing, Sixth edition, Cengage Learning OGuinn, T. C, Allen, C. T & Semenik, R.J, 2011, Advertising and Integrated Brand Promotion, Cengage Learning Smith, P. R and Taylor, J, 2004, Marketing Communications: An Integrated Approach, Kogan Page Publishers Read More