Project name: E-marketing of products
Business case
The business case which supports this project is mainly to reduce the cost of production while maximizing output for a firm. Marketing of products can prove a challenge to a firm with a poor management team. Firm’s products should have been produced at the lowest cost possible while being sold at a high price in order to increase the firm’s profitability and production capacity. Through e-marketing of products, consumers will have a variety of available products to choose. Taste and preferences of consumers change with time. This calls for the management to put in some strategic measures in order to avoid incurring a loss. The introduction of an e - marketing system in an organization will ensure wider market coverage of the respective product. In so doing, the company will have a wider coverage of its products and increase performance and profitability.
As a result of increased use of the internet with the X and Y generation cohort, application of e-marketing can efficiently work. E-marketing of products can be used in situations when there are many competitors in the market thus demand for a certain product has declined. E-marketing will ensure that products are adequately advertised in the internet. Company sales are expected to rise as a result of the improvement of advertising. Through the project, customers from various parts of the world can comment on the reliability and quality of the product.
Project overview
The project aims at improving product sales of a firm where there is an increase in production from other competing firms. E-marketing of products will significantly improve product sales through increased customer base and production in line with customers’ taste and preferences. The project will aim at diversifying its market coverage and improving on firms' sales across the world. E-marketing involves the use of computer systems in order to access internet services. The marketing strategies will involve an opening of a website for the product sales and advertisement campaigns. An improved company sale means that the company will increase its profitability and performance.
Project scope
E-marketing will allow customers to choose from a wide range of various products in the market. This process is aimed at changing products with changes in customers demand. The main aim of the project will be to increase the company’s reputation and increase its sales products through the internet. The primary deliverables of the project include achieving a large customer base in order to increase the firm’s profits. Through e-marketing, customers are able to view the new products and commodities using their electronic gadgets. Marketing of products online will allow a wide range of customers from various parts of the world. As a result of problems associated with advertising and marketing of products, the company will implement the e-marketing system in order to boost the firm’s sales across its customers. The project will entail thorough campaigns and advertisements through all social media and through a website meant for sales and marketing for the company.
Milestone
The process of e-marketing is an effective project compared to the traditional mode of product advertisement. The e-marketing provides a platform where customers can suggest for the safety and quality of the product. In the milestone section, the team members will have to come up with the deliverables expected after the completion of the project. The team members are expected to analyze the firm’s objective and goals for e-marketing and its importance to customers in the future.
- The product will be advertised through various social sites in order to increase its publicity among the users.
- The aim e-marketing will be to focus on a variety of customers from different sections of the world.
- The e-marketing project will ensure that firms’ sales and profitability improve through severe advertisement and campaigns through the internet.
- The project is meant to allow customers to select a variety of the firm’s product from the list of all available products.
- The project is aimed at making the firm’s marketing strategies efficiently in order to improve on its performance and thus profitability.
- It is anticipated that the firm will earn reputation across the world and thus facilitate in the sales of the product in a wider area.
Risks
There are various risks which come in hand with new projects and strategies implemented for the first time in an organization. E-marketing can adversely be affected by various factors in the market. For instance, the availability of skilled workers to participate in the marketing process might prove to be a challenge. The systems to be used in the process of e-marketing can pose a great threat in acquiring them. E-marketing will disclose the type of product marketing strategies a company undertakes. Through exposure of such techniques, rival firms would have clear information on the sales product of that organization. The company’s management should employ certain strategic management practices in order to prevent the risks involved. There are other risks involved in the project such as implementation of the project.
Stakeholder list
Most of the companies have marketing rivalry ideas against each other. E-marketing will ensure that different companies use various methods in order to win the highest marketing sales in the industry. Rival companies are the main target of the system since the company will compete in sales and profitability more than other firms. Through e-marketing, products will be advertised to various people of diverse cultures and religious background. Some of the customers will not approve any of the products while others will propose their usage. People have different taste and preferences. This can significantly affect the marketing and sales outcome of the project system. Individuals will have to select products from a wide coverage of products depending on their taste and preference. The demand of the product will also significantly affect the outcome of the project system.
Rival companies will work against the e-marketing strategy in order to match the increased sales and marketing strategy by the firm. Some of the companies can employ the same tactic in order to improve on its sales. In so doing, there will be a stiff competition within the industry. Increased competition can lead to improvement in other advertising methods. By contrast customers will be the primary beneficiary of the project since their demands and preferences have been met.
Team operating principles
The group team will be responsible for various functions in the e-marketing project. The team will work together in a coordinated effort in order to ensure the project is successfully completed within the predetermined set of time. The members will be involved management of the computer system and posting of the advertisement through the internet. The following will be the roles of each team member as ascribed by the project.
- One team member will be obligated to handle the posting of the advertisement in the firm’s website. This is a process which requires thorough information about the product thus the person undertaking this part of the work should ensure all the necessary information is put into consideration for the customers.
- A second team me member will be obligated to e-marketing on social sites like Facebook, Twitter, and through sharing with customers around the world. This person is supposed to have a wide knowledge on various pages in the social sites in order to allow a thorough advertisement campaign of the product across different regions.
- The third member is obligated to manage and assess the overall performance of the project and the way the strategy picks on the market. This person will take evaluation on product sales performance in order to establish the weak points of the strategy. There will be evaluation tests which will involve comments from the customers and their response to the new e-marketing strategy.
Members shall have regular communication in order to get a briefed on the progress of the project and assess its improvement. Each and every member is expected to have clear information on the firm’s e-marketing strategy in order to disseminate the information to various customers around the world. The group members shall be communicated meeting sessions and respective time for undertaking the operation. The project will specifically target customers around the world. The team members should improve on their presentation methods in order to appeal each and every customer, despite age, color, gender, and ethnicity.
References
Billows, D. (2006). Project Charter. London: Dick Billows.
Dalal, A. F. (2012). The 12 Pillars of Project Excellence: A Lean Approach to Improving Project. New York: CRC Press.
Heldman, K. (2007). PMP Project Management Professional Exam Study Guide. New York: John Wiley and Sons.
Michael W. Newell, a. M. (203). The Project Management Question and Answer Book. New York: AMACOM Div American Mgmt Assn. Copyright.
Schwalbe, K. (2009). Introduction to Project Management, Second Edition. New York: Cengage Learning.
Taylor, J. (2008). Project Scheduling and Cost Control. Chicago: J. Ross Publishing.
