Purpose of the Project
Chapman (2010) states that advertising is a business science that is very complex and dynamic. As competition increases, businesses are constantly devising new ways of attracting their customers and increasing sales. In this regard, business leaders need to develop new strategies of advertising for their businesses.
In most cases, the advertising technique devised should be less expensive and more productive. In addition, such a strategy should be at per with the developing technology since many businesses have switched to the technology world.
In this regard, the use of internet in advertising has become the perfect and winning advertising strategy in contemporary business world. Many businesses are turning to the internet as their means of advertising their products and services. This is because of advancements in information technology and the extended time that many people spend in the internet.
The purpose of this project is to develop a hi-tech internet advertising strategy that will eventually increase the customer base. The new business needs a winning advertising strategy to be competitive in the market. Internet advertising is of paramount importance to the business since many competitors are also using the strategy.
The benefits of internet advertising are enormous. For instance, Smith (2009) argues that the internet is a perfect tool that can help a business to target customers easily. In addition, internet operates for twenty-four hours daily, which could help the business to maximize sales. Moreover, the internet is universal, making it easy for a business to target even the international market.
Goals and Objectives
According to Gunter (2006), a business should clearly spell out the aims and objectives of internet marketing before devising the plan. This is essential as it helps the business to develop a successful plan.
In addition, Chapman (2010) affirms that it is essential for the management of a business to determine whether the advertising strategy seeks to create awareness concerning the business or it seeks to generate direct response. These are important factors of consideration since they help the business management to develop a strategy that will ensure accomplishment of the goals and objectives.
The goal of this project is to increase the customer base by generating new customers. To accomplish this goal, the project will concentrate on various objectives. One of the main objectives is to provide detailed information to large numbers of prospective customers visiting the internet. In addition, the project seeks to educate the target market on the superiority of the business products. This objective is important because it will make the targeted customers to want to try the products advertised.
The other objective of the project is to generate direct response from prospective customers concerning the products and services offered by the business. This would help to accomplish the main goal because the business management will make the required changes to improve the quality of its services and products. The project will also seek to offer easily accessible information to the targeted prospective customers. This is essential in ensuring that many prospective customers view the advertisements posted by the business.
Scope and expectations
Internet marketing strategy integrates a variety of methods that, when used together, initiate the realization of precise business goals and objectives.
Successful implementation of these methods necessitates familiarity with online competition, market and participants’ behavior, a strong understanding of the various technicalities of the internet domains and structures as well as development of strong goals and objectives of the business (Webdynamic.com, 2011). To accomplish the set objectives, the project will develop a superior advertising system that will merge various forms of internet advertising. This will generate a perfect network that will be very competitive.
The integrated network will comprise a perfect email newsletter published regularly. In addition, the system will include posting of well-written business articles describing the range of services and products of the business. In addition, such articles will specifically address the target market.
The system will also incorporate a chain of podcasts enclosing interview with specialists, who will win the confidence of the target market. These strategies will be effective in developing an integrated system that will ensure the attainment of the set goals and objectives. In addition, the designing of this system will attract the targeted prospective customers, making them want to read more of the content.
Assumptions and Risks involved
The project will generate various assumptions. These include the assumption that the target customers will be online and will be interested in the page created for the business, the target customers have access to the internet for extended periods and that the target customers will provide the necessary feedback. The risks involved in the project include lack of response from prospective customers, the targeted customers not being interested with the advertisements and the possibility of bad imaging from competitors.
Project execution (Personnel and departments involved in the project)
The project will integrate various departments of the business for successful implementation of the project. These include the information technology department, the sales department as well as the strategic management department. These departments will work together to generate a successful project. The chief information officer and the general manager will oversee the implementation of the project.
The Rationale of the project
Generally, a project undergoes various steps in a systematical manner to accomplish certain set goals and objectives. It is a systematic outline of carrying out a certain task. This project qualifies to be a project because it aims at accomplishing certain goals for the business and it is a systematic procedure, which would bring about changes in the business.
References
Chapman, A. (2010). How to write a strategic marketing plan or business strategy, marketing and advertising tips, internet and website marketing tips. Web.
Gunter, D. (2006). Ten Steps to Creating Your Internet Marketing Plan. Web.
Smith, A. (2009). Importance of Internet Marketing in Changing Business Perception. Web.
Webdynamic. (2011). Internet Marketing Strategy. Web.