How to Create an Effective Marketing Plan
Step 1: Position your product
You need to make clear distinction between encouragement, public relations and advertising. These are the parts of marketing. The 4 P’s of marketing is the key factor of positioning product:
* Product: Having right kind of goods and service for the market. In other words products that fulfill buyer demands.
* Price: Price the most crucial factor for customer as well as company. However as a company you need to sell your products or services at reasonable prices. In other words price should be worth of products. It means customer should get value of their money. Customer must be happy to buy your products at reasonable price.
* Promotion: This is the part of marketing mix where you need to put your all effort to create awareness of your products in the public. You can choose different channels to promote your products or services such as print media, electronic media, direct sale, broaches, online advertising etc.
* Place: It refers to your distribution channels. It means you must have strong distribution channels to deliver goods to your customers timely and quickly. Normally customers get your goods from the market always without any shortage problems.
Step 2: Tap your Brain Trust
Brainstorming session generates various creative ideas during the session. During the session you need to find out answer of some questions such as:
* Who are your target customers?
* What makes your product unique in the market?
* Which one is the best marketing strategy to get maximum response of customer?
* How often do you need to use marketing strategy?
Step 3: Listen to customers:
Next thing is getting feedback from customers. It means how they react to your products and other factors related to your products. It helps you to make changes in your products according the necessities of clients. You can use survey method to collect responses of clients from the market. The best method is SWOT analysis to judge your position in the market.
Step 4: Draft the Plan
Now you need to make an outline of your market plan on the basis of customer responses and brainstorming session’s results. This is not the final plan but a tentative one to check its effectiveness. Once this plan succeeds in the market then it will be OK.
Step 5: Track the Result
Lastly analyses on your expected result. If likely result matches with obtained result then the whole thing is OK, and this marketing plan is the best one. On the contrary if results are not fulfilling then try out next one with more efficiency and less discrepancies.
Step 1: Position your product
You need to make clear distinction between encouragement, public relations and advertising. These are the parts of marketing. The 4 P’s of marketing is the key factor of positioning product:
* Product: Having right kind of goods and service for the market. In other words products that fulfill buyer demands.
* Price: Price the most crucial factor for customer as well as company. However as a company you need to sell your products or services at reasonable prices. In other words price should be worth of products. It means customer should get value of their money. Customer must be happy to buy your products at reasonable price.
* Promotion: This is the part of marketing mix where you need to put your all effort to create awareness of your products in the public. You can choose different channels to promote your products or services such as print media, electronic media, direct sale, broaches, online advertising etc.
* Place: It refers to your distribution channels. It means you must have strong distribution channels to deliver goods to your customers timely and quickly. Normally customers get your goods from the market always without any shortage problems.
Step 2: Tap your Brain Trust
Brainstorming session generates various creative ideas during the session. During the session you need to find out answer of some questions such as:
* Who are your target customers?
* What makes your product unique in the market?
* Which one is the best marketing strategy to get maximum response of customer?
* How often do you need to use marketing strategy?
Step 3: Listen to customers:
Next thing is getting feedback from customers. It means how they react to your products and other factors related to your products. It helps you to make changes in your products according the necessities of clients. You can use survey method to collect responses of clients from the market. The best method is SWOT analysis to judge your position in the market.
Step 4: Draft the Plan
Now you need to make an outline of your market plan on the basis of customer responses and brainstorming session’s results. This is not the final plan but a tentative one to check its effectiveness. Once this plan succeeds in the market then it will be OK.
Step 5: Track the Result
Lastly analyses on your expected result. If likely result matches with obtained result then the whole thing is OK, and this marketing plan is the best one. On the contrary if results are not fulfilling then try out next one with more efficiency and less discrepancies.
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ReplyDeleteWhen positioning your product, it’s imperative to focus more in promoting your product. If you are a business starter, target your local area first. Let the people that surround your business be the first ones to know what you want to offer to them. Once you build awareness in your local area, you can now go further. But be sure you still continue to promote to your local market.
ReplyDelete-Allan Holaday