In product marketing, it is divided into 2 parts, namely Online and Offline. In fact, this marketing strategy is the main key to a business. Getting to know management theory before starting a business is a positive first step. Management science which is part of economics should be applied to various business sectors, even in every aspect of life.
Every activity must be based on planning, management, and followed by the realization of targets. The process for the realization of planning must be effective and efficient in the use of available resources, time, energy, cost allocation to risk.
The word management comes from ancient French ménagement, which means “the art of executing and organizing”. There are many definitions of management, various descriptions, short to long explanations, but actually understanding and getting to know management theory is very simple: Input (resources owned) >>> process (management) (Planning, Organizing, Actuating, Controlling) >>> Effective and efficient output
Inputs are all sources of capital that we have, it could be human resources, natural resources, capital, skills for services, raw materials.
Process management function (POAC):
• Planing >>> planning (planned allocation method)
• Organizing >>> organized or grouped/separated so that they are neatly arranged
• Actuating >>> directed. Shown the goal/goals that were separated earlier
• Controlling >>> supervised on the control so as not to get out of line
An output that is effective (right on target) and efficient (appropriate).
Broadly speaking, business management is how to process in 4 steps POAC everything we have with the aim of getting good, effective, and efficient results.
Companies and Functions
Like management, the definition of a company also varies and is known as the function of the company.
• Production: the activity of producing a product (in a trading company replaced by purchasing).
• Finance: regarding capital and finance
• HR: Regarding humans and workers, employees, laborers, etc.
• Marketing: about delivering the product to the public
• Plus R&D (research and development): an established company must have an R&D division to develop its products
The company’s goal is to seek profit by creating a product, both goods, and services or it could be a benefit that will be conveyed to the public as its target.
It can be concluded that management in a company means processing inputs in the form of (HR, SDA (raw materials), SDMo (capital), Skills (expertise), machines, and so on, using the POAC management process for company functions (production, finance, marketing, tbsp). and R&D) so as to produce output in the form of quality (effective) goods or services and with the least possible expenditure to reduce prices (efficiently), the product is as good as possible but at the lowest possible cost.
The application of management science is not limited to companies in general. Each division, be it marketing, production, finance, and human resources, must implement it. Even one product production activity must use proper management processes.
Application of Offline Marketing Strategies
The offline marketing strategy that is carried out to attract target consumers is by making banners around the store or by distributing brochures. For example, for a large shop, he can use television or radio, and often even use brochures. However, once again the people who visited the shop were only people in the surrounding area. However, consumers who buy to offline stores are generally because the store is trusted. They don’t want to take the risk of buying at an unfamiliar or trusted store.
Application of Management Science in Online Business
The function of the website as the foundation/center of all online businesses does not escape the application of management science. For something that looks very simple, like a website, actually has a very complicated flow in its management. This concerns every type of website in managing its content.
For example, an e-commerce type website, online store. Basically starting an online store business is no different from running a conventional business. As we all know, this online business has advantages and privileges, including being able to reach buyers or customers anywhere and saving energy and costs.
It is true when viewed in terms of the reach of the online store business, it is easier to reach buyers. But there is a crucial problem with the online store business compared to conventional businesses. The most prominent problem is the problem of poor management, especially for new online businesses, this is about knowledge.
Many online businesses give up in the end because their online shop is empty of visitors and consider offering their own via social media to be more effective than having an online store. To better prepare ourselves to start an online business, it helps us to know a little about business management and marketing theory.
Generally, people only know that management is regulation, management. Actually, if the meaning is deepened and applied in daily life, it will have an impact on a better quality of life.
Online Marketing Strategy Implementation
Unlike offline, for this marketing target consumer, those who buy at online stores generally don’t really care about the brand. The online marketing strategy used to reach the target consumers of online marketing is by using SEO (Search Engine Optimization), SEM (Search Engine Marketing), and social media. So, the scope for selecting customers is wider both domestically and abroad. For example, e-commerce type websites, online stores.
Basically starting an online store business is no different from running a conventional business. As we all know, this online business has advantages and privileges, including being able to reach buyers or customers anywhere and saving energy and costs.
Analytics for web or mobile app experiences can help determine the following:
1. Which online marketing channel is the most cost-effective in acquiring customers, based on the visitor-to-customer conversion rate, and the cost of those visitors.
2. Which channels are effective in acquiring and driving higher lifespan value for customers – such as email marketing, which drives repeat purchases to previous customers.
3. Which customer cohorts exhibit strong engagement behavior and a high potential for upsells – such as software or mobile apps, hoping to sell more products to high-involvement customers.
