Planning Your Marketing - Without a plan...
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Without a plan, you may be moving fast but you may not be moving in the right direction. Here are five steps to creating a strategic and practical marketing plan:
Check where you are
Have a look at our section on Forms & Format to help you here, or download one of the various SWOT analysis formats.
Your first step is to take a comprehensive look at your company's challenges, its position in the market place, the level and intensity of competition and other factors that may affect your marketing strategies. This is the market research portion of your plan.
Challenges: When you open your business, you are faced with the huge task of letting your target market know that you exist and are willing to serve their needs. You are faced with the challenge of communicating with your target market to get them to become your customers.
Position in the marketplace: Your promotional strategy should highlight the "unique selling points" of your business.
Competition: This involves a complete analysis of the businesses already offering your type of goods and services within your geographical area (e.g. county, town and city).
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