How do you develop an Effective Marketing Strategy?
There are many guides and marketing models available for the development of an effective marketing plan, but before this is written it is important to evaluate your options to develop your business and marketing strategy.
Some of the elements you should consider from the outset are listed below and include:
What Are Your Primary Business Objectives
Have senior management agreed on a set of goals / aspirations and objectives?
Should these objectives be shared with the whole team? Where are you now and where do you see the business in 1year, 3 years and 5 years time. How are you going to get there, and what help do you need to achieve these goals? Do you have a resource plan to achieve your goals?
Target Markets
What are your target markets (Consumer, Business to business, government body etc?) What are their needs? What causes them problems and how can your product or service them more effectively than your competitors? What market sectors offer the best returns?
Sales Channels
What sales channels are available for you to target? Do different sales channels require a different product strategy, pricing strategy, or promotional strategy? Are you going to sell direct to the end user, through an agent or distributor, direct to independent retail, direct to major wholesalers or retailers, on the internet, mail order, TV etc?
Target Customers
Who are your potential customers and why would they buy from you and how will they find out about your products or services?
Market Positioning
Is your product or service offering added value? What is your unique selling point? Is your position in the market based on price or target segments of your market or by another. Have you a niche or mass market offering.
Brand Identity
What is your branding strategy? Is your logo clearly identifiable, is it protected and trademarked? Is your brand conveyed consistently throughout the organisation from your website to your product packaging?
Communications Strategy
What media should you be using to reach your target markets? Does your strategy include a wide range of communication methods including printed materials, the internet, PR, pay per click advertising and an internet marketing strategy / plan.
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Resources
Do you have the time and expertise to write and implement an effective strategic plan? Do you have a marketing expert to bounce ideas off? Do you have a reliable and cost effective marketing and design agency to design and develop an effective integrated marketing and communications campaign?
Marketing Mix Planning
Does your strategy include all of the elements of the marketing Mix, including: Product, Price, Place, Promotion, People, Processes and Performance.
Free advice
Do you have a company you can call for free marketing advice?
If not you can call Andy on 0845 226 3095.
