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August 16


Doing a Marketing Plan

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Even though many people do not use it, Marketing has become an essential part of any business operations. More than get advantages to the marketing place, it defines if your business will be successful or not. There are also many strategies and techniques that are used to understand how to apply in order to get results.

To be successful and achieve all your goals, a Marketing Plan must include your strategies and objectives, also remember think about the four P’s of Marketing: Product – Price – Place – Promotion.

  Targeting the market:

Distinguish, determine and describe your possible customers by profession/career, age, income/educational levels, sex, and residence. Find out, better than any, what your client’s likes and dislikes are, as same as their expectations, needs, requirements, etc.

Then, limited to your more likely clients who would be interested in your product. Finally, according to growth of your business, you will have to change and expand your Marketing Plan, including some other new customers.

  Determining Competition:

In the industry there are two kinds of competitors: Direct competitors - Indirect competitors. First at all, your job is to identify these two competitors, their strengths and weakness; write them down in a file joined with their advertising, promotional materials and pricing strategies. Finally, check these files regularly evaluating the frequency of their advertisements, sponsor promotions and offer sales.

  Developing the budget:

Whatever you decide to do you will need to have money, so make a budget of all your future investments, such as advertising, promotion, media and data collection, etc., all that you are going to use and need. Then, find the way out to get all those money that will be allocated for your marketing plan.

  Product:

Describe the benefits of your products according to the view of your customers. Focus on them and its special features. Always remember to keep on mind what your customers are looking for and what their requirements are; you will see that your anticipation is going to be helpful in order to give your customers satisfaction.

  Place:

According to the perspective of your customers, determine and describe your business location. Take special focus in its assets, access, safety parking, decoration, etc. Remember to always bring satisfaction to your customers.

  Price:

Even though pricing strategy is based on the pricing strategy of the competitors, you should consider the strategy devised by others. In this way, you will be able to make a better determination of your prices according to the industry averages.

The best advice to success is determining a well-planned strategy, which must be in constant monitoring to ensure your profits.

  Promotion:

Promotion is one of the most important parts of your Marketing Plan. So here, you must develop a promotional strategy, identifying the most effectively media that promote your business. The key is to focus on developing material that distinct location and price.


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