Introduction
As the world is modernizing rapidly with a lot of innovations; communication has become a major tool in day to day activities. Saud Arabia’s economy has been emerging at a very fast rate and has developed very productive individuals. People’s purchasing power has significantly increased over the years not only in Saud Arabia but also in other Middle East nations. Due to the expansion of business in Saud Arabia marketing is a critical aspect of an organization success for any business. Marketing is described as the channel that facilitates business growth through targeting existing and potential customers of the company (Strouse, 2004).
Saud Arabia in making positive strides towards a middle-class economy and as the markets from home appliances to fashions brands, marketing expansion has remained dynamic, and its growth is at a slow pace. The marketing agency is a business based service that is obligated to planning, creating and handling promotions or advertisement for the clients. Customers of such a marketing agency may include business, governments, corporations and non-profit organizations. The marketing agencies are hired and task to do online advertisement, TV and radio commercials, and advertising campaigns.
Through data analysis and observation, there is a huge gap in marketing in Saud Arabia. The core reason to develop interest in marketing industry is due to the current trends in the market the demand for marketing services are high. Business is defined as an activity that one engages in with an intend to make profits. To start marketing agency through cost evolution, they are relatively small compared to other parts of the country. Any entrepreneur with an in-progress business idea has got mission and goals ascribed to the business ideas in mind (Ogden & Goldberg, 2002).
Marketing is a topic that influences the demand and pricing of any commodity brought into the market. The selection of the subject ‘marketing agency’ is appropriate facing the fact that demand and pricing affect everyone in the society. Marketing is majorly about information sharing of information of products. However, factors such as the consumer income, competition, advertisement and the trends in globalization and industrialization influences the prices and demand for the products. Consumers have a set of rational convictions in product preferences based on such terms as style, durability and the product fit and appropriateness.
The proposal paper will highlight the objectives of the marketing agency and relevant issues with Marketing strategy, action programs and the budgets, its controls. Finally, the contingency planning as I wrap up my marketing agency proposal at the last part with a conclusion. The paper aims to explain how the company can expand the market as well as create awareness for our immediate customers in the new markets areas and the funding of the projects.
Current Marketing Situation
Marketing in Saud Arabia is relatively in its initial stage despite the wide range of products that are offered on the market. As there is, large immigrants that visit Saud Arabia for business-oriented or job hunting missions have increased competition. Such factor such as technology and innovation has led to Saud Arabia markets to be more dynamic and competitive. Thus, there is an urgent need for products promotions in the long-run of the business running in Saud Arabia. Due to a lot of competition, the market of marketing thus there is the need of better and affordability of the product and its quality compared to other competitors. The channel and logistics of marketing strategy, the agencies may use sells representative rather than using other middle retailers. The use of representatives of the marketing agency is to get the direct feedback from the market directly rather than using other middlemen in channeling the product into the market. The current trends are the use of social networks in creating awareness and the use of software in the phones to reach the bigger market thus marketing agencies can save highly in the advertisement cost.
Objectives and Issues
In this marketing proposal, the major goal of the marketing agency will be expanding the current Saud Arabia marketing industry to attain the 15% share of the market. The marketing company is new in operation also has a goal to expand its revenue returns from the sales of Ads. The primary issues that can affect marketing agencies from attaining its objectives are the international tariffs that can hinder the exports of the contents and ideas. The tariffs are the major issue in expanding the market to achieve the projected 15% share of the market.
Budgets
The estimated budget of the marketing plan for the one year is about 15% in the one-year of the total revenue of the year. The 8% of this will be used in the marketing strategies expenses, 5% will fund the whole project and the 2% should be set aside for the unseeing expenditure in the process of implementation of the marketing plan. This budget can be reflected in the next five years in the efforts of the company’s expansion plans to other markets.
Contingency Planning and Conclusion
My marketing agency will be successful because it is cost effective taking up only 15% of the total revenue. My expectation of increasing the marginal profits can be identified by evaluating the increase in revenue after my marketing proposal has been implemented. If the plans are not met, I feel that it will be logic that we re-draft and find best ways to meet the expectations of my marketing plan. Finally, it is crystal clear that the marketing should incorporate brilliant invention that will effectively withhold the current competition in Saud Arabia.
Last Completed Projects
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