Marketing Plan
Why Do we need to bother with a Marketing Plan?
The simple answer would be,
Ask these Companies and Retailers going out of Business-
They could have used some Marketing or a good Marketing Plan to stay in business.
A Marketing Plan main role is to provide direction for the company and its employees, a clear path to follow, outline well-defined goals and expectations, provide a framework for a working plan to generate sales in order for the company to thrive and grow.
In simple English, the Marketing Plan will provide answers these questions:
Who is our target market? Where are they located?
When do they buy our product?
Why would they pay this price and what incentives can we offer?
How do we reach and communicate with our customers?
It is common that the Owners of Small Businesses Create their Strategy, which basically defines the Type of Business they are in, or Who They Are, The Services/Products they will sell, and The Consumer or Niche they will target.
In turn they revert to their Marketing department to put together a Marketing Plan Detailing the 4P’s and ask them to figure out the Implementation.
What are the 4P’s?
Your Product/Service, Your Place, Your Promotion, and most importantly Your Price
Core components of 4P’s:
1. Product, Service:
Features, Benefits, Differentiation, Service offerings, Next Generation
The Service is Intangible and the challenge for Service Providers is to transform that Service into a Tangible entity.
The Marketing Team needs to put together: Actual Product and Actual Service
2. Distribution/Place:
Channel of distribution to be used, Sales techniques and incentives, Service and Support
3. Promotion Strategy:
Multi-Faceted Approach incorporating- Print, TV, Radio, Online, Digital, Social Media, Coupons, Discounts and so on.
4. Price:
Fixed & Variable Costs, Desired image in the market, Positioning and Profit.
It is important to note that All the above relating to the 4P’s Have to be Done Before going to Market,
In order for businesses to grow and have longevity, they need to generate sales and profits. A marketing plan role is to show you how to generate these sales and secure profits as well.
The 4P’s is a Concept that needs to be developed and Packaged in your Factory or Office, and yet the Challenge lays in Assembling the pieces together.
We rely on science and data in planning, however, Creativity is also essential and connected to your Passion, Drive and Commitment in Delivering the Product & Service.
The Merger in Harmony of Art & Science.
Most Common Reasons why New Products Fail-
Targeting the wrong market
Incorrect pricing
Poor Execution
Wrong Positioning in the Market
Poor “configuration” of features and benefits
Today, in our current environment:
Rethink your Marketing,
Rethink your Positioning,
Rethink your Pricing Model.
Invest in Marketing & your Business.
Entrepreneurs are Innovative, Creative and will Take advantage of Opportunities in front of them today and every day.
One Simple question, What is Your Strategy?
What Steps are Needed?
We Bring Clarity to Your Day-to-Day Operations, Control the Chaos and Restore Sanity
One Simple question, What is Your Strategy?
What Steps are Needed?
We help our clients who are Small Businesses, Solve their problems and Grow their Business.
We Understand Your Needs and Share Your Dreams
Contact Us to increase your Profits and Minimize your Risk