Marketing Objectives and Strategy Business objectives help to control, direct and review the success of the company (Visionary, 2013). Therefore, it is important to have a set of appropriate strategies and plans of actions to ensure that the company’s objectives can be achieved. In this case, (Straight to the point) To achieve Expedia’s means of building a prospect database from current non customers and deliver leads to be followed up by marketing sales representatives, it is critical to understand the company’s strengths and weaknesses and also the target market group before outlining the strategies to be used to meet the goals. In order to generate the leads, we recommend Expedia to introduce a brand new travel package with a program of activities filled with fun and excitement to attract the interests of the target market group. Before setting strategies to be carried out, we have evaluated the situational analysis of the company based on the existing strengths and weaknesses so that we could estimate the success ability of the recommended plan. With the support from different well-known brands such as HotWire, TripAdvisor and Hotels.com added into the company, Expedia has now become one of the leading travel services companies in the market (UKessays, n.d). The strong brand name and the large size of the company are the biggest strengths of Expedia as it allows the company to differentiate their offerings confidently and gain the ability to compete effectively against their competitors. In addition of the well-recognized brand name of the company, Expedia has an extensive distribution network that allows them to reach out to a wider range of customers. One of the best examples given will be Expedia being the main travel channel in other third-party travel agencies and websites such as MSN.com. By looking at the existing strengths of Expedia, we believe that all these will a supporting hand in promoting our brand new travel package to more potential customers from different places and countries which in turn increases the opportunity to gain profits for the company. Straight go the issue, or you can summarize in 6 to 8 lines. Even though Expedia has many advantages that could support the travel package that we recommend, but the company has its own weaknesses too. One obvious weakness of Expedia is the fact that it relies too much on online search engines for its business. In addition of the rapid growth of travel services market nowadays, Expedia will have to go through an intense competition with other online travel service providers. Moreover, customers nowadays often avoid booking their trips online due to the many cases of travelling companies not being able to keep their financial details secure. All these factors will bring negative impacts to Expedia since the company conducts majority of its business through online websites and search engines. In order to overcome these weaknesses of Expedia and ensure that the new travel package will be a success, we strongly recommend Expedia to improve their promotion strategies by focusing on both online and offline promotions. You should done more research on fun and excitement, how 1.It will become an important criteria in current consumer (Demand) 2.It link to travelling package (Supply) 3.Currently, not many companies emphasize on this element, you are one of the pioneer 4.It link the profitability and branding of company The target market groups for the recommended travel package will be customers aged between 18 to 35 years old including students, working adults and young parents who are adventurous, outgoing and excitement lovers. Other than that, the price to participate the tour costs RM2, 000 per person, which is considered quite a big amount to pay for. Therefore, the group that we target should also be customers who have the willingness to pay for the activities that we offer. With the theme of excitement, the travel package that we proposed to attract the interests of these target audiences consists of four main types of activities: Water Sports, Theme Parks, National Parks and also Air Adventures. Fun and thrilling activities are prepared for each of the four areas such as skydiving, scuba diving, jungle trekking, roller coaster rides and other exciting After reading your marketing strategy, as a boss, I will not buy your idea because I cannot feel the huge impact (positive side) on my company even the idea is sound logical and interesting. Prefrences of Activities (This part to should included in the marketing strategy part, to explain to BOSS the preferences and the potential market, integrate in travelling package. Estimated Percentage of the Preferences of Activities Air Adventures 9% Theme Parks 10% National Parks 23% Water Activities 58% From the chart above, we can see that most of the consumers are more interested in the water activities. Our estimated percentage for it will be 59%. This is why, for our creative approach, we have come up with more activities for water. Next, 23% of the consumers prefer to go for excited activities in the National Parks from different countries as they can enjoy the sceneries, and at the same time performing excited activities. While for theme parks, there is only 10% of it. This is because only students enjoy the excitements in the theme parks. While the other 2 groups of people who are young parents and working adults from our target market, they do not really like theme parks because the themes do not really suit their interest. Lastly, air adventures have the lowest percentage rate of 9%. This is because many people think that it is dangerous to perform activities in the air. The accident rate is higher than the other activities (Klosowsk, 2010). Communications Plan As mentioned above, Expedia is targeting on 3 major customer group which consist of, students, working adults, parents (you seem like target everyone in this world within the age group) at the range of 18 – 35 years of age. Therefore, we’ve decided to reach out to them through several channels shown below: Strategy: Direct Selling – an opportunity to generate new leads to promote and sell products by having a face-to-face approach with the potential customers (Queensland.Gov, 2013) (Wrong, this is not direct selling, you are not selling on the event.) Media Selection: Booth Event Location 1: Universities & Colleges Target Audience: Students that are willing to pay Objectives: Gaining information to form database by making the students to sign up and fill-up their personal information on the online database and “like” Expedia Facebook fan page when they join the activities provided. Furthermore, this event is also carries the mission to change the mindset of students towards holidays instead of going shopping in Hong Kong or domestic food trip to Malacca or Penang. Expedia will instill the needs of recognition for the students towards a journey of excitements instead. Activities: In order to instill the needs, Expedia will trigger their thirst for excitements and the need to get away after their stressful university life with examinations and assignments by introducing a tip of the whole excitement journey over and done with bringing the whole concept of excitement into some mini games for the students to experience. Expedia will select the right universities which have the right atmosphere that enables the activities to be done fluently. Such as, sky diving simulation, lost world voyage and some interactive games that brings the comparison between a boring trip and an exciting trip with Expedia. Estimated Response Rates: 15% (Justify why 15%) Location 2: Shopping Complexes Target Audience: Young Parents & Working Adults Objectives: Build Database by having the participants to fill up personal information upon signing up for the activities. Introducing a new ways to get oneself away from hectic workaholic and stressful city lifestyle and “escape” to an adventure full of excitements that we’ve provided for our valuable customers. Initiate the ideas of a feeling of great enthusiasm and eagerness to do something that will distract oneself from the real world by providing them a platform to places having extraordinary activities that are not available outside. Activities: To prompt the people’s interest, Expedia will have a 3 days event in selective shopping complexes by setting up a series of exciting activities such as rock climbing, augmented reality activities, sky diving simulation, etc. for the consumers. Activities provided will be suitable for young parents with kids and also working adults. (Move from down part) To get all their basic and additional information, we will use gadgets like “I-Pad” and require them to fill in that information. Upon registration for the activities provided in the event the consumers are required to full up their personal details for consumer's database. After they filled in, they will get small gifts like a mini notebook from Expedia. Besides, we also gather all these information from Facebook and Instagram when we are asking them to like and follow our page. Next, we will rent some of the information from colleges and universities as part of our target market is students. Universities and colleges will definitely have their basic information. Estimated Response Rate: 20% (Just make it same if cant justify, at least you assume both are the same) Strategy: Social Media Marketing – Aids to support interactions and pull closer the gap between potential and existing customers and the organization through the populations online (Queensland.Gov, 2013). Media Selection: Facebook & Instagram Location: Interactive Fan Page Target Audience: Students, Working Adults, Young Parents Objectives: Update Expedia’s latest Information to Potential Customers, Attract prospects market with substantial visual effects through videos and pictures, response to first-hand enquiries. Activities: Update all the attractive information in details regarding the latest activities proposed along and quotes with the aim to trigger the “appetite” of the consumers. Visual effects will be included to fulfill the visual senses. Expedia will have a photo shooting competition in Instagram where the participants can just take part in it by taking picture of their exciting moments and hash tag “ExcitementwithExpedia” (#ExcitementwithExpedia) and stand a chance to win free travel package from Expedia for a limited time. This could help Expedia to gain customer awareness towards the theme running. (How many prize will be given in year 2014?) Estimated Response Rate: 0.5% (Any justification?) Strategy: Direct Mail – A low cost approach where customer relationships can be built in an effective and flexible approach through tailoring of emails that drives direct sales (Queensland.Gov, 2013). Media Selection: Promotional Emails and Advertisements Location: Online Mail Box Target Audience: Students, Working Adults, Young Parents Objectives: Generate new pointers or deals for customers based on the database collected throughout the events as mentioned above in direct selling strategy. Activities: Taylor made packages to target more specific segments of people by attracting the market group. Also, it is a perfect medium for Expedia to update their current events and activities running through emails to keep the existing and potential customers updated. This is to keep interactions and involvements with the customers. Estimated Response Rate: 15% Are you referring to the email? If yes, where to get the NEW email list? Rent from where? Collect from where? Important: You communication plan MUST include how are you going to deliver your message to each of the target segment (what kind of statement), customers must FEEL the situation and benefit, otherwise, u just syiok yourself without clearly indicate their need and wants. PR or advertising executive need these statements so that they know how to design the message. Example: Student: Feel stress with final and assignment? It’s time for you to get away from this stressful lifestyle, let’s us plan for you a fun and excitement trip that customize to your preference, so that you just ……………………(you continue) ο Budgeting Budget to spend on communication plan = RM1.5 Millions Price of the package = RM 2000 per person Expected Commission = X% (Market rate from 7 to 15 %) Expected Return = Budget + Expected Profit = 1.5 Millions + X Millions = X Millions ROI = X Millions/1.5 Millions = Revenue/Sales = X Millions/X% The calculation WRONG! Expedia earn commission, not the whole package because they are not the owner of any flight and hotel. So all your budget figure are wrong…. RM 4.5millions ÷ RM2000 = 2250 person (need 2250 people to earn 4.5millions) Revenue : Package price × number of people = RM 2000 × 2250 = RM 4.5 millions Profits = Revenue – Expenditure Cost = RM4.5 million – RM 1.5 million = RM 3 millions Q1(Jan-Mar) Q2(Apr-Jun) Q3(July-Sep) Q4(Oct-Dec) RM 4.5 millions × 30% RM 4.5 millions × RM 4.5 millions × 25% RM 4.5 millions × 35% = RM1.35millions 10% = RM450,000 = RM1,125,000 = RM1,575,000 Number of RM 1.35 millions ÷ RM 450,000 ÷ RM1,125,000 ÷ RM 1,575,000 ÷ customers RM2000 = 675 RM2000 =225 RM2000 =562.5 RM2000 =787.5 (15/50.1) ×675 =202.10 (15/50.1)×225=67.33 (15/50.1) × 562.5=168.41 (15/50.1) × 787.5=235.78 Approx: 203 Pax Approx: 68 Pax Approx: 169 Pax Approx: 236 Pax Shopping (20/50.1)×675=269.46 (20/50.1)×225=89.92 (20/50.1)×562.5=224.55 (20/50.1)×787.5=314.37 Complexes Approx: 270 Pax Approx: 90 Pax Approx: 225 Pax Approx: 315 Pax Facebook & (0.5/50.1)×675 = 6.736 (0.5/50.1)×225=2.245 (0.5/50.1)×562.5=5.64 (0.5/50.1)×787.5=7.859 Instagram Approx: 7 Pax Approx: 3 Pax Approx: 6 Pax Approx: 8 Pax Email (15/50.1)×675=202.09 (15/50.1)×225=44.865 (15/50.1)×562.5=168.41 (15/50.1)×787.5=235.78 ERR: 15% Approx: 203 Pax Approx: 45 Pax Approx: 169 Pax Approx: 236 Pax Revenue Approach: University& Colleges ERR: 15% ERR: 20% ERR: 0.1% ROI = πΉππππππ π°πππππππππ πΉπ΄ π.π ππππππππ = πΉπ΄ π.π ππππππππ = 3% Cost per Response= = π»ππππ π·ππππππππ π©ππ πππ π»ππππ π΅πππππ ππ πΆππ ππ πΉπ΄ π.π ππππππππ ππππ = RM 666.66 Database Strategy Common Information Additional Information ο· Name ο· Handphone number ο· E-mail ο· Facebook ο· Instagram ο· Country ο· Gender ο· Income level ο· Interested to visit different theme parks from different countries How to answer all these questions? ο· Yes or No? Rating1 to 5? activities from different countries ο· Open? If open, how to analise the data? Challenging different excited Indicate the rating of bungee jump (1 to 5?) ο· Indicate the rating of skydiving ο· Times visited theme parks in a year ο· Times performed excited activities ο· The spending habits on excitements travelling With all these information, it can help Expedia to build models that tell us which factors had the most influence in determining those who responded and those who did not respond. (HOW OOOOO????????) All the information allows us to contact them directly. Some of the information is harder to obtain, but it will be useful for future marketing strategy. Once we got all these information, it helps Expedia to build up a clearer picture of the exact target customers. It helps Expedia to focus on advertising and marketing efforts easier. How to analyze the database? What is the FORMULA? Air Adventure : Which questions is relate to this? Theme Park : National Parks : Water Activities : ο· Interested to visit different theme parks from different countries ο· Challenging different excited activities from different countries ο· Indicate the rating of bungee jump ο· Indicate the rating of skydiving ο· Times visited theme parks in a year ο· Times performed excited activities ο· The spending habits on excitements travelling Information Gather Based on our communication plan, we will gather the data and information by having booth events in universities, colleges and shopping complexes. Database Protection (OK) D’Amo is a capable database solution which protects our data from both internal and external intrusions. It uses data encryption to protect the important data. It has a strong encryption to prevent from decryption of stolen information. Moreover, it can also help management to backup all the data. It also has the ability to monitor the activities (Pentasecurity.com, 2013). Besides, we will also use “SafeNet ProtectDB” software to give additional protection on our database. This brings us great database encryption and database protection for the complex business and customer information that stored in our databases (Safenet-inc.com, 2013). Time and Consumer to be contacted (important? It seem like just make your proposal longer without any value added…) We will pick a suitable time to contact our target market. For the students, we will e-mail them the packages during their semester breaks or after their exams, as they have the time to enjoy all these excited activities and also release their stress. While for the young parents and working adults, we update all these packages during festival holidays like Chinese New Year, Hari Raya, Deepavali and Christmas and also public holidays. They are usually busy working and taking care of children. They will only have time to relax during these few holidays season. Thus, we will only e-mail them before all these festival and public holidays. Prospect Database A database is basically organized information. Our data is organized into lists. These lists are generally organized in grids with sets of fields that is arrange horizontally and vertically. We are using Microsoft Excel as it is a simple database. It has a set of numbered fields that is on the left of the page, and also a set of alphabetical fields at the top of the page. The record of our database would be the basic and additional information of the consumers from our database strategy above. In our prospect database, records are organized around a consumer’s last name. The prospect database can help us to store, modify, and recover what information we have. It also tracks the sources, responses, participation, interests and purchases of the consumers (how to track the interest? Based on the questions as designed? Your explanation is too surface, we need a good concept which people can understand, not just explain like BOOK, you need to show HOW) Maintaining the information about the interests of the consumers can be done by prospect database too. The record of our database would be the basic and additional information of the consumers from our database strategy above. In our prospect database, records are organized around a consumer’s last name. Moreover, we also use CRM (Customer-Relationship-Management software) Software that allows different departments from the company to contribute the individual data files of consumers, and follow up their orders and more without asking other employees of the company. It is an updated, shared database of all the customer communications and transactions and more (Smarta.com, n.d.). What is this? Just delete it if you are not familiar with the concept of CRM as integrate in your FUN and Excitement idea… The Uses of Database to Direct Communications and Record Responses Before we set up our data, we will need to know our target market well. The target market for our excitement packages are students, young parents and working adults. After we determine our target market, we will need to know where we collect the information. The information will be obtained from colleges, universities, shopping complexes and social media like Facebook and renting it from the others. You mentioned need to analyse data, how? Must show the formula in Page 12. After we gather all these data, we will need to analyze them. It involves examining the data in ways that tell the relationships, patterns, trends, and more that are found within the database. Analyzing it can help us what kinds of relationships seem to be real among variables, but also on the level that we can trust the answers that we got (Ctb.ku.edu, 2013). This will help us to know whether the responses we got are effective or not. Lastly, all the information we gather need to be verified. Based on the information that we got from the consumers, we will e-mail them the type of packages that they are interested. To know whether they really like the packages, we provide a feedback form below the e-mail, so that they can able to tell us whether they really interested on it. If what we send to them at first is not what they are looking for, they can tell us through the feedback column, and we can send them the packages they are interested. Furthermore, we have the e-mails of the customers, thus we can always update them with all the different packages and promotion. They can always plan before they want to go for it. (OK) Can show the example of feedback questions? 1. XXXXXXXXXX 2. XXXXXXXXXXX 3. XXXXXXXXXX 4. Creative Approach and Budgeting ο Creative Approach The design of Package (No need to tell me creative or not, we will know one) Under this excitement package, it consists of 4 sub-sections which are Theme Parks, Water Activities, Air Adventures and National Parks. The package provides selection of many popular and famous theme parks such as Universal Studios, Disneyland, Everland, Lotte World, and Fujiyama. Moreover, water activities that planned was surfing, sea kayaking, sailing, diving, jet-skiing, sidekick, motor-boating, sidekick, rafting, banana boat, peanut boat and kite boarding. To have more excited feeling, customer could join the air activities such as skydiving, skywalk, sky jump, parachuting, hot air ballooning and bungee jump. Jungle trekking, hiking, mountain climbing, camping, elephant riding also had provided under the national park activities. Therefore, all these activities were the best place for the targeted audiences who want to experience the feeling of excitement. Moreover, this excrement packages are available for the customers to choose the one that they like and enjoy the excitement games planned by the company. The package gives customer the best feeling of excitement and happiness so that they can play hard and enjoy the games. Happy moments could be created with their friends and tourists. This was the emotional benefit that the customer could receive from it. This excitement package is targeted on the students, working adults and young parents who are aged between 18 to 35 years old, able and willing to spend on its. This group of people is targeted as they have the same interest of want for having an exciting feeling and movement in their life. Moreover, they are able to take initiative to make more new friends who had same interest in the tour. Push strategy will be used to attract customers to purchase the excitement package. According to Lamb, Hair and McDaniel (2010, p.493), push strategy was a marketing strategy that uses aggressive personal selling and trade advertising to convince a customer to purchase the products. Expedia could choose Facebook as a social media tool to promote the packages and make sure the customers are aware of the new excitement packages. Moreover, Expedia needs to e-mail the targeted customer about the information of the packages and also updated info. All of these media tools were about direct marketing where promoting the packages directly to the customers. In conclusion, this unique idea is appropriate to attract the targeted segments which then will increase the sales in term of the airplane tickets to the destination and also hotel reservations. Therefore, the objective of Expedia which is to increase sales will then be achieved. Comment: 1. Your package is good, no problem 2. Must present a good flow of proposal, this version is not good enough, lack of linkage. (marketingstrategy to target market to database to package) 3. Your idea is good, but you guys can not present it in detail, especially on how to anaylise the database… Don’t give up…just improve it… Country Theme Parks Water Activities Malaysia Day 1 Day 2 ο· Sunway lagoon ο· Air Adventures National Park Day 2 Taman Negara, ο· Taman Negara, Pahang for swimming, Pahang for Abai Waterfall , white canopy water rafting. walkway, night jungle walking, Day 3: ο· mountain Pahang’s eastern coast climbing. for Surfing, sea Day 3 kayaking, snorkeling and sailing. ο· Tioman for kayaking, scuba diving, waterfalls, banana boat ride and jungle sidekick boat ride. trekking. ο· Malapascua Island, Day 2: ο· Skywalk, Edge Park, Cebu for snorkeling, jet skiing. at Crown Regency hiking, rock Hotel and Tower, climbing and Cebu. jungle trekking. ο· Sky diving and ο· Everland, South Korea. ο· Seoul Land, South Korea. ο· Lotte World at Seoul, south Korea. ο· Sudlon National Coaster, Tower Zip kayaking, Kiteboarding Day 1: Day3: Cedu for scuba diving, ο· Bantayan, Cebu for Sea Korea Pulau Pulau Tioman for Day 1: Philippine ο· Day 2: ο· Yeouido Hangang Park, South Korea for yachting or boating, ο· Trekking in parachuting at Mount Pulag in Cebu. Mindanao. Day 3: ο· Rock Climbing at Seoul. ο· Natural Camp wakeboarding, Site in Seoul motorboats. Zoo. ο· Ttukseom Hangang Park, South Korea for windsurfing, kayaking, water skiing, banana boat, peanut boat. Indonesia Day 1: ο· Dunia Fantasi, Day 2: Day 3: ο· Thousand Islands, ο· Mountain Jakarta. Jakarta for Snorkeling, Krakatau for ο· Jungleland scuba diving, jet skiing, jungle trekking. Adventure, Bogor. banana boat. ο· Taman ο· Waterboom Pantai Suropati, Indah Kapuk. Jakarta . Taiwan Day 1: ο· Shan Gri La Menteng. Day 2: Day 3: ο· Windsurfing at Fulong ο· Hengshan beach, DongLiao Village, Paradise, MiaoLi. ο· Leofoo Village The ο· Diving, snorkeling and HsinChu for me Park, HsinChu. yachting at LongDong Grass skiing, South Ocean Park paintball, high- ο· Diving, windsurfing, wire walking water-skiing, parasailing, ο· Hiking at jet- skiing and yachting, WuliaoJian, surfing at Kenting Taipei. beaches. ο· Rock Climbing at Longdong Cape. Japan Day 1: ο· Fujiyama( Fuli-Q Day 2: ο· Snorkeling and diving in Highland in Mount Fuji) ο· Bungee jump at Suruga Bay Minakami, Gunma. ο· White water rafting at ο· Tokyo Disneyland Or Day 3: ο· Paragliding at Tone River , Kanto Agatsuma ο· Banana boats, ο· Universal Studios ο· Skywalk at parachuting at Lake at Osaka Yokohama Hamana, Hamamatsu. ο· Rafting and cannoning at Minakami Thailand ο· Day 1: Day 2: Scuba diving, snorkeling ο· Pattaya Park and Day 3: ο· Pattaya and windsurfing in Koh Tower for tower Elephant Man Wichai, Pattaya. jump, speed Village for ο· Hua Hin – snorkeling shuttle. elephant ride ο· Coral Island, Pattaya for ο· snorkeling and diving, ο· Hong Kong Day 1: ο· Ocean Park, Victoria Peak Day 2: Pattaya Jungle ο· Walking and Bungee jump hiking, Parasailing in Mountain biking Pattaya Beach. at Chanburi Day 3: ο· Sailing, wind surfers in Stanley Main Beach ο· Kayaking in LanTau ο· Hong Kong ο· Wakeboard, surfing in Disneyland Tai Po Waterfront Park ο· Snoopy World Vietnam Day 1: ο· Vinpearl Amusement Park Day 1: ο· Diving and snorkeling at Nha Trang Bay. at Nha Trang Bay 3: ο· Rock climbing in Cat Ba National Park, Day2 ο· Kayaking, Parasailing, Halong Bay. ο· Hiking and scuba diving at Tuan climbing at Bai Chau Bech, Halong Bay Tho Mountain, ο· Kite surfing, windsurfing, Sailing at Mui Ne Bay Halong Bay. Appendix Malaysia Sunway Lagoon Sidekick boat ride White water rafting @ Taman Negara Sea Kayaking @ Scuba Diving @ Pulau Pahang’s Eastern Coast Tioman Canopy Walkway @ Taman Negara Philippine Jet skiing@ Malapascua Kite Boarding @ Island Kite Boarding SkyWalk Edge Coster Bantayan, Cebu Tower Zip @ Crown Regency Hotel and Tower parachuting @ Cebu Rock Climbing @ Sudlon National Park Everland, South Korea Seoul Land, South Korea Lotte World Seoul yachting @ Yeouido flyfish ride @ Ttukseom Hangang Park Hangang Park Peanut boat ride Banana Boating Jungle trekking @ @ Thousand Islands Mountain Krakatau Skydiving Korea Indonesia Dunia Fantasi, Jakarta Taiwan Grass Skiing LeoFoo Village Theme Rock climbing @ LongDong Cape Park Japan Fujiyama Tokyo Disneyland white water rafting @ Tone River Bungee Jumping @ Minakami Gunma Paragliding @ Agatsuma Thailand Scuba Diving @ Koh Man Wichai, Pattaya Elephant ride @ Pattaya Elephant Village Tower Jump Hong Kong Ocean Park, Hong Kong Hong Kong Disneyland Snoopy World @ Hong Kong Vietnam Roller Cosater @Vinpearl Vinpearl Amusement Amusement Park Park Vinpearl Amusement Park @ Nha Trang References Ctb.ku.edu (2013), Community Tool Box. 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