Our talented team know how to excite, inspire and engage. With backgrounds in events, entertainment and travel, we’re full of ideas for amazing prizes and unforgettable incentives!
At Fulcrum, we all come to work every day because we have a shared love of travel and delivering once-in-a-lifetime experiences.
Our team meetings are buzzing with fresh ideas, brand new experiences and glowing feedback from our travellers. We know what makes a great incentive, we have an encyclopaedic knowledge of the best experiences around the world, and we have an ever-expanding ‘little black book’ of the most exclusive suppliers in the business.
In addition to our creative ideas and experience, we know that our clients value our expertise and dedication to solving problems rather than creating them. Prizes and incentives are our world, but we understand that our clients have other priorities, so we make sure we’re delivering our ideas on-time, on-budget and on-brand. We thrive on tight deadlines, logistical challenges and creating perfectly tailored solutions, without the headaches!
About us
Perfect solutions every time
As a leading marketing Agency, we’re immensely proud to work with brands and agencies across a huge range of sectors and industries, giving us an unrivalled breadth of experience.
we have created and fulfilled prizes for promotions and activations across the world.
Our aim: help our clients achieve their goals through our experience and expertise, taking the stress and hassle out of prize fulfilment.
We work for both direct brands and agencies, often in collaboration or with other specialist agencies and partners. Many of our clients have existing assets – from festival tickets to sports hospitality – which we help them to build into the best possible prize packages. Others want to create unique, eye-catching marketing and btl content around their prize winners. We can deal with winners from any country and in any language; we can provide a full btl management service; we can even source camera crews for content capture.
Whatever your brief, we’ve got it covered.
SALES INCENTIVES
Driving sales and performance through tailored, flexible incentive programmes
With pressure always on to drive sales and performance, sales incentives are an essential part of rewarding achievement within many companies. From internal staff reward programmes to dealer and channel incentives, there’s no better way to create a happy, engaged and motivated workforce.
Our main goal is to understand your people and what makes them tick. From hundreds in a call centre team to a small on ground sales team, a clear overview of your audience is the most important part of the process. By taking a best approach, offering maximum choice and flexibility, we create incentives which are targeted, effective and tailored to your team.
Whether it’s sales rewards, dealer incentives or channel incentives, drop us a line; we’d love to help you drive sales with our fresh and creative approach to prizes and incentives. From once-in-a-lifetime holidays to mini-breaks, high-street vouchers and designer goods, you can rest assured that with Fulcrum you’re in safe hands.
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Functions of the Marketing Plan
16.2 Functions of the Marketing Plan
Learning Objectives
- Understand the functions of a marketing plan.
- Write a marketing plan.
In Chapter 1 “What Is Marketing?”, we introduced the marketing plan and its components. Recall that a marketing plan should do the following:
- Identify customers’ needs.
- Evaluate whether the organization can meet those needs in some way that allows for profitable exchanges with customers to occur.
Develop a mission statement, strategy, and organization centered on those needs.
- Create offerings that are the result of meticulous market research.
- Form operations and supply chains that advance the successful delivery of those offerings.
- Pursue advertising, promotional, and public relations campaigns that lead to continued successful exchanges between the company and its customers.
- Engage in meaningful communications with customers on a regular basis.
The Marketing Plan’s Outline
The actual marketing plan you create will be written primarily for executives, who will use the forecasts in your plan to make budgeting decisions. These people will make budgeting decisions not only for your marketing activities but also for the firm’s manufacturing, ordering, and production departments, and other functions based on your plan.
In addition to executives, many other people will use the plan. Your firm’s sales force will use the marketing plan to determine its sales strategies and how many salespeople are needed. The entire marketing staff will rely on the plan to determine the direction and nature of their activities. The advertising agency you hire to create your promotional campaigns will use the plan to guide its creative team. Figure 16.2 “Marketing Plan Outline” shows a complete outline of a marketing plan (you may also want to go to http://www.morebusiness.com/templates_worksheets/bplans/printpre.brc for an example). Next, we will discuss the elements in detail so you will know how to prepare a marketing plan.
Figure 16.2 Marketing Plan Outline
The Executive Summary
A marketing plan starts with an executive summary. An executive summary should provide all the information your company’s executives need to make a decision without reading the rest of the plan. The summary should include a brief description of the market, the product to be offered, the strategy behind the plan, and the budget. Any other important information, such as how your competitors and channel partners will respond to the actions your firm takes, should also be summarized. Because most executives will be reading the plan to make budgeting decisions, the budgeting information you include in the summary is very important. If the executives want more detail, they can refer to the “budget” section, which appears later in the plan. The executive summary should be less than one page long; ideally, it should be about a half page long. Most marketing plan writers find it easier to write a plan’s summary last, even though it appears first in the plan. A summary is hard to write when you don’t know the whole plan, so waiting until the plan is complete makes writing the executive summary easier.
The Business Challenge
In the “business challenge” section of the plan, the planner describes the offering and provides a brief rationale for why the company should invest in it. In other words, why is the offering needed? How does it fit in with what the company is already doing and further its overall business goals? In addition, the company’s mission statement should be referenced. How does the offering and marketing plan further the company’s mission?
Figure 16.3
Your marketing plan has to convince busy executives and other stakeholders that your idea is worth investing in.
Richter Frank-Jurgen – Horasis Global China Business Meeting 2013 – CC BY-SA 2.0.
Remember that a marketing plan is intended to be a persuasive document. You are trying not only to influence executives to invest in your idea but also to convince other people in your organization to buy into the plan. You are also trying to tell a compelling story that will make people outside your organization—for example, the director of the advertising agency you work with, or a potential supplier or channel partner—invest money, time, and effort into making your plan a success. Therefore, as you write the plan you should constantly be answering the question, “Why should I invest in this plan?” Put your answers in the business challenge section of the plan.
The Market
The market section of the plan should describe your customers and competitors, any other organizations with which you will collaborate, and the state of the market. We suggest that you always start the section by describing the customers who will purchase the offering. Why? Because customers are central to all marketing plans. After that, discuss your competitors, the climate, and your company in the order you believe readers will find most persuasive. In other words, discuss the factor you believe is most convincing first, followed by the second-most convincing factor, and so on.
Customers
Figure 16.4
Progresso Soups may divide their market into several groups. This family photo might actually represent three different markets: a person who eats lunch at his or her desk at work and needs something quick and filling; a retired but active couple that wants something hot and nourishing; and a busy young family looking for easy meals to prepare.
Vladimir Pustovit – Family – CC BY 2.0.
Who does your market consist of? What makes these people decide to buy the products they do, and how do they fulfill their personal value equations? What is their buying process like? Which of their needs does your offering meet?
Break the market into customer segments and describe each segment completely, answering those questions for each segment. When you write your plan, begin with the most important segment first and work your way to the least important segment. Include in your discussion the market share and sales goals for each segment.
For example, Progresso Soups’ primary market segments might include the following:
- Families in colder regions
- People who need a good lunch but have to eat at their desks
- Busy young singles
- Older, perhaps retired, empty-nesters
These segments would be based on research that Progresso has completed showing that these are the groups that eat the most soup.
Your discussion of each segment should also include how to reach the customers within it, what they expect or need in terms of support (both presales and postsales support), and other information that helps readers understand how each segment is different from the others. After reading the section, a person should have a good grasp of how the segments differ yet understand how the needs of each are satisfied by the total offering.
Audio Clip
Katie Scallan-Sarantakes
http://app.wistia.com/embed/medias/4e5cbb5411
A marketing plan has to account for many factors: customers, competitors, and more. Listen as Katie Scallan-Sarantakes describes how she had to consider these factors when creating marketing plans for Toyota.
Company Analysis
Include the results of your analysis of your company’s strengths and weaknesses in this section. How is the company perceived by the customers you described earlier? Why is the company uniquely capable of capitalizing on the opportunity outlined in the plan? How sustainable is the competitive advantage you are seeking to achieve?
You will also need to identify any functional areas in which your company might need to invest for the plan to succeed. For example, money might be needed for new production or distribution facilities and to hire new marketing or sales employees and train existing ones.
One tool that is useful for framing these questions is the SWOT analysis. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal, meaning they are conditions of the company. Either these conditions are positive (strengths) or negative (weaknesses). Opportunities and threats are external to the company, and could be due to potential or actual actions taken by competitors, suppliers, or customers. Opportunities and threats could also be a function of government action or changes in technology and other factors.
When working with executives, some consultants have noted the difficulty executives have in separating opportunities from strengths, weaknesses from threats. Statements such as “We have an opportunity to leverage our strong product features” indicate such confusion. An opportunity lies in the market, not in a strength. Opportunities and threats are external; strengths and weaknesses are internal. Assuming demand (an external characteristic) for a strength (an internal characteristic) is a common marketing mistake. Sound marketing research is therefore needed to assess opportunity.
Other factors that make for better SWOT analysis are these:
- Honest. A good SWOT analysis is honest. A better way to describe those “strong” product features mentioned earlier would be to say “strong reputation among product designers,” unless consumer acceptance has already been documented.
- Broad. The analysis has to be broad enough to capture trends. A small retail chain would have to look beyond its regional operating area in order to understand larger trends that may impact the stores.
- Long term. Consider multiple time frames. A SWOT analysis that only looks at the immediate future (or the immediate past) is likely to miss important trends. Engineers at Mars (makers of Skittles, M&Ms, and Snickers) visit trade shows in many fields, not just candy, so that they can identify trends in manufacturing that may take a decade to reach the candy industry. In this way, they can shorten the cycle and take advantage of such trends early when needed.
- Multiple perspectives. SWOT analyses are essentially based on someone’s perception. Therefore, a good SWOT should consider the perspective of all areas of the firm. Involve people from shipping, sales, production, and perhaps even from suppliers and channel members.
The SWOT analysis for a company, or for any organization, is both internal and external in focus. Some of the external areas for focus are collaborators (suppliers, distributors, and others), competitors, and the business climate.
Collaborators
Along with company strengths and weaknesses, identify any actual or potential partners needed to pull the plan off. Note that collaborators are more than just a list of suppliers and distributors. Collaborators are those organizations, either upstream or downstream in the value chain, you need to partner with to cocreate value.
For example, AT&T collaborated with Apple to develop the iPhone. AT&T is downstream in the value chain, providing the needed cell service and additional features that made the iPhone so revolutionary. At the same time, however, AT&T was a part of the development of the iPhone and the attendant marketing strategy; the partnership began well before the iPhone was launched.
Competitors
Your marketing plan, if it is any good at all, is likely to spark retaliation from one or more competitors. For example, Teradata and Unica operate in the same market. Both sell data-warehousing products to companies. Teradata primarily focuses on the information technology departments that support the data warehouse, whereas Unica focuses on the marketing departments that actually use the data warehouse. Nonetheless, Teradata is well aware of Unica’s marketing strategy and is taking steps to combat it by broadening its own market to include data-warehousing users in marketing departments. One step was to teach their salespeople what marketing managers do and how they would use a data warehouse as part of their job so that when these salespeople are talking to marketing managers, they can know what they’re talking about.
Teradata marketing planners also have to be aware of potential competitors. What if IBM or HP decided to enter the market? Who is most likely to enter the market, what would their offering look like, and how can we make it harder for them to want to enter the market? If your company captures their market before they can enter, then they may choose to go elsewhere.
Identify your competitors and be honest about both their strengths and weaknesses in your marketing. Remember that other people, and perhaps other organizations, will be using your plan to create their own plans. If they are to be successful, they have to know what competition they face. Include, too, in this section of the plan how quickly you expect your competitors to retaliate and what the nature of that retaliation will be. Will they lower their prices, create similar offerings, add services to drive up the value of their products, spend more on advertising, or a combination of these tactics?
A complete competitive analysis not only anticipates how the competition will react; it also includes an analysis of the competition’s financial resources. Do your competitors have money to invest in a competitive offering? Are they growing by acquiring other companies? Are they growing by adding new locations or new sales staff? Or are they growing simply because they are effective? Maybe they are not growing at all. To answer these questions, you will need to carefully review your competitors’ financial statements and all information publicly available about them. This can include an executive quoted in an article about a company’s growth for a particular product or an analyst’s projection for future sales within a specific market.
Business Climate
You may have already addressed some of the factors in the business environment that are creating the opportunity for your offering. For example, when you discussed customers, you perhaps noted a new technology they are beginning to use.
A complete coverage of the climate would include the following (the PEST analysis):
- Political climate
- Economic climate
- Social and cultural environment
- Technological environment
A scan of the political climate should include any new government regulations as well as legislation. For example, will changes in the tax laws make for more or less disposable income among our customers? Will the tightening of government regulations affect how salespeople can call on doctors, for example, hindering your marketing opportunity? Will federal policies that affect exchange rates or tariffs make global competitors stronger or weaker? For example, the government introduced the Cash for Clunkers program to encourage people to buy new cars. Within only a few weeks, 250,000 new cars were sold through the program and it ran out of money. Auto dealers were caught unprepared and many actually ran out of popular vehicles.
The economic climate is also important to consider. While 2008 saw tremendous swings in gas prices, other factors such as the subprime lending crisis and decline of the housing market affected everything from the price of corn to the sales of movie tickets. Such volatility is unusual, but it is important nonetheless to know what the economy is doing.
Figure 16.5
The housing crisis was caused by a failure in the subprime lending market, an economic condition that affected many other businesses.
Jeff Turner – Sign Of The Times – Foreclosure – CC BY 2.0.
The social and cultural environment is also important to watch. Marketers, for example, may note the rise in the Hispanic population as a market segment, but it is also important to recognize the influence of the Hispanic culture. Understanding the Hispanic culture is important in reaching this market segment with the right marketing mix. In creating marketing campaigns for something such as a financial product, it’s very important to understand the history that Hispanics have had with financial institutions in their home countries. Understanding that culturally Hispanics might not trust financial institutions and developing campaigns that generate positive word of mouth, such as refer-a-friend and influencer tactics, can be explosive once the wall has been torn down.
Finally, the technological environment should be considered. Technology is the application of science to solve problems. It encompasses more than just information (computer) technology. For example, when Ted Schulte (profiled in Chapter 13 “Professional Selling”) discusses a pacemaker with a cardiac surgeon, Ted is describing the latest technology available. The new technology could be related to the battery used to power the pacemaker, the materials used in the leads (the wires that connect the pacemaker to the body), or even the material that encases the pacemaker. Understanding the technological environment can provide you with a greater understanding of a product’s life cycle and the direction the market is taking when it comes to newer technologies.
Figure 16.6
Technology encompasses more than just information technology. Produced by Guidant Technologies, this pacemaker utilizes information technology to record heart-function data a doctor can read later. But the product might also utilize other new technologies, such as a new battery, materials used to connect the pacemaker to the heart, and the casing for the pacemaker, all of which affect its performance.
Steven Rodriguez – Pacemaker – CC BY-NC-ND 2.0.
Many of the environmental factors we mentioned impact other factors. For example, technological changes are altering the social and cultural environment. Instead of writing letters to one another, families and friends use e-mail and social networking sites to communicate and maintain relationships. Online communication has affected any number of businesses, including the greeting card business and the U.S. Postal Service, which recently announced it was closing many facilities.
Likewise, the economic environment influences the political environment and vice versa. The huge bailout of the banks by the government is an example of how the economic environment affects the political environment. The laws passed as a result of the bank bailout, which include more-restrictive lending practices, are affecting banks, businesses, and consumers. Any looming changes in the business climate such as this need to be included in your marketing plan.
The Strategy
The next section of the plan details the strategy your organization will use to develop, market, and sell the offering. This section is your opportunity to create a compelling argument as to what you intend to do and why others should invest in the strategy. Your reader will be asking, “Why should we adopt this strategy?” To answer that question, you may need to include a brief discussion of the strategic alternatives that were considered and discarded. When readers complete the section, they should conclude that the strategy you proposed is the best one available.
The Offering
Provide detail on the features and benefits of the offering, including pricing options, in this section. For example, in some instances, your organization might plan for several variations of the offering, each with different pricing options. The different options should be discussed in detail, along with the market segments expected to respond to each option. Some marketing professionals like to specify the sales goals for each option in this section, along with the associated costs and gross profit margins for each. Other planners prefer to wait until the budget section of the plan to provide that information.
The plan for the offering should also include the plan for introducing offerings that will follow the initial launch. For example, when should Progresso introduce new soup flavors? Should there be seasonal flavors? Should there be smaller sizes and larger sizes, and should they be introduced all at the same time or in stages?
Part of an offering is the service support consumers need to extract the offering’s full value. The support might include presales support as well as postsales support. For example, Teradata has a team of finance specialists who can help customers document the return on investment they would get from purchasing and implementing a Teradata data warehouse. This presales support helps potential buyers make a stronger business case for buying Teradata’s products with executives who control their companies’ budgets.
Postsales support can include technical support. In B2B (business-to-business) environments, sellers frequently offer to train their customers’ employees to use products as part of their postsales support. Before you launch an offering, you need to be sure your firm’s support services are in place. That means training service personnel, creating the appropriate communication channels for customers to air their technical concerns, and other processes.
Figure 16.7
Prior to launching a new offering, the presales and postsales support personnel for it have to be trained and the appropriate work processes created so that the right level of support is provided. These call-center technicians had to first learn the offering’s technical processes before it could be launched.
CWCS Managed Hosting – customer service assistant on phone – CC BY 2.0.
The Communication Plan
How will the offering be launched? Will it be like Dow Corning’s launch of a new silicon acrylate copolymer, a product used to add color to cosmetics? That product was announced at the In-Cosmetics trade show in Barcelona. Or will you invite customers, media, and analysts from around the globe to your company’s offices for the launch, as SAS did with its SAS 9 software product?
In addition to the an
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No matter who you are and what you sell, the success of your business relies on your ability to engage with two critically important groups – the people who buy from you and the people who work for you. At Fulcrum, we create truly personalised incentive programmes that have the power to energize your business. Each Fulcrum initiative is designed around the specific interests and aspirations of your customers and your people. We engage and inspire the people that matter – the people who power your business.
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Client- centricity and the provision of quality service are key values. Providing a developmental and supportive marketing environment for our staff and recognising the importance of our suppliers are integral to our business ethic. Openness, honesty, transparency and a commitment to our community underpin everything we do.
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The heart and soul of what has made us so successful is our staff. It is their passion, commitment to quality and positive, can-do attitude that delivers outstanding performance to our clients and reinforces our reputation for service excellence.
From selection & recruitment through to training & development, we continually invest in our staff to ensure we have the right people, with the right skills to make sure that the job gets done right, first time.
Quality
Fulcrum has always aimed to be quality leaders in our industry. An impressive array of accreditations, for Quality, Environment, Security and Staff development are simply the kite-marks that demonstrate our core values in this respect.
Fulcrum Agencies
Over the years we have worked with agencies of all sizes and styles. We understand the hectic world of marketing and advertising and we have developed services specifically designed to adapt to short lead-times, changing needs, last minute requests and the occasional ‘sprint finish’.
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With a long-history of providing services to retailers, whether major chains or small specialist outlets, it was a very easy step for us to adapt that to the on-line world. These days we can handle high-volume fulfilment for direct-to consumer on-line web-orders as we can easily provide retail replenishment and store refurbishment.
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Fulcrum Marketing Services in Pune are the catalyst to bringing your advertising vision to life. While many ideas start in a boardroom, you need experienced marketers on the ground who are able to conceptualize, plan and execute a well thought-out marketing campaign in the field.
we supply the experience, connections, relationships, and knowledge needed to maximize the potential return on investment for each of our clients as well as help identify and pursue select market opportunities as they come available, house to house marketing consultant | general trade marketing agencies in pune. Our local insight allows us to create exceptional investment potential for our partners and clients and enhanced living experience for our residents.
CREATING COMMUNITIES WHERE PEOPLE ARE EAGER TO LIVE AND RELUCTANT TO LEAVE
We define and position apartment homes for success. We are passionate about the residential experience and the qualitative and quantitative points that drive us to make strategic decisions that inform what a home should be — specific to its marketplace.
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MARKET RESEARCH
We crunch the numbers, ask the questions, assess current trends and forecast future trends with detailed, up-to-date research to understand our markets; Ensuring our clients have the right data points to make the best decisions going forward.
MARKET POSITIONING
What’s the experience living here? What’s the story and name of this place? Our experience and insight allows us to identify and position each project’s distinctive offerings as its market niche. We provide an understanding that goes deeper than looking at trends. We create sought-after, thoughtfully executed apartment communities that are compatible with their surrounding neighborhoods.
| MARKETING STRATEGY Overall success relies on a thoughtful marketing strategy. In a constantly changing environment, we develop and implement each marketing initiative specific to your audience and budget. Reaching consumers in a way that educates and informs; ultimately creating product desirability and excellent rates of return. |  |
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Becoming Marketing Active: The Fulcrum Guide to Getting Started with Business Marketing – In the first part of our guide to becoming marketing active Direct Response Marketing consultant in navi mumbai, we looked at some of the reasons that drive a business to start marketing (if you missed part one, check it out here). But once you’ve made the decision to embark on a marketing strategy for your business, what next? Where do you start and what steps should you take to ensure a smooth and successful process? As is so often the case in business (and life!), preparation is key. So before rushing into any kind of marketing, it’s important to take the time to plan, research and strategise for success. In order to create an effective marketing strategy, you need to develop a thorough understanding of your market, your competitors and your business itself. This means getting back to basics and equipping yourself with all the information you need to identify marketing activities that work for your brand. 1) Research your target market How much do you know about the target audience of your product or service? We’re not just talking about age, sex or occupation (though, of course, you need to know these too). To have the best chance of reaching your target market, you need to dig deeper and find out exactly what drives them towards purchase. What kind of triggers are they most likely to respond to? Which elements of the marketing mix have the most impact on them? How will your product or service benefit them? Understanding these aspects of your target audience will enable you to position and market your brand accordingly, so comprehensive market research is essential. It’s often easier (and more cost-effective) to outsource this type of research to a professional agency who will be better placed to obtain the information you need. 2) Analyse your competition In order to stay ahead of your competitors, you need to know who they are, what they’re doing and how they’re doing it. Once you’ve identified who your key business competitors are, look into the marketing methods they’re using and the way in which they have positioned their brand. What channels and platforms have they chosen to market their business? How are they promoting their brand and its products/services? Consider which elements are crucial to your own business and how you can position your brand in order to get ahead. 3) Define your objectives What do you want to achieve from your marketing activity? Whether it’s to increase your revenue, establish your business in a new market segment or improve brand awareness, setting clear, measurable marketing objectives is vital in understanding what steps need to be taken in order to achieve these goals. Make sure that each identified objective is specific (how much do you want to increase revenue by?), achievable (is it realistic?) and has a timeframe for accomplishment (are you aiming to achieve this goal in three months or a year?). You also need to make sure that your marketing objectives tie in with your overall business objectives. 4) Understand your business You may think you have a pretty good understanding of your business, but it’s surprising what insights can be achieved when you conduct a thorough SWOT analysis (strengths, weaknesses, opportunities, threats). Be rigorous, be meticulous, and above all be brutally honest. Is a lack of staff training letting your business down? Are your prices too high to compete in today’s market? Arming yourself with this knowledge is invaluable in developing a marketing strategy that leverages your company’s strengths and addresses those areas which need to be improved. In the next instalment of the Fulcrum guide to becoming marketing active, we’ll be looking at the raft of marketing channels available and helping you to identify which ones are best for your business. If you have something to share on this topic, why not get in touch? Leave your comments below…
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