Describe your market
and the characteristics and size of each market segment; review key market
trends.
Research what customers
value, such as product features, quality, service, image.
Compare the distribution
channels for reaching customers (eg direct sales or
through retailers).
Profile your competitors
and what they're offering.
Identify other key factors influencing your business
environment; carry out a SWOT
analysis of your competitive position (SWOT: strengths,
weaknesses, opportunities, threats).
Review the effectiveness of previous marketing
initiatives such as advertising campaigns or seasonal sales.
Assess the profitability
and sales potential of different customers and market segments, and of
different products or activities.
Decide who to target
among both existing and potential customers; decide which products to push
and those which need updating or replacing.
Set specific objectives:
for example, retaining existing customers, increasing order sizes, selling
new products or winning new customers.
Decide how you will price each product or service.
Decide how you will distribute and sell; plan how you can
improve customer service and satisfaction.
Plan how you will promote your products or services, and how you
will keep in touch with customers.
Identify customers' purchasing cycles to timetable marketing
activities.
Confirm the implications
of your marketing plan for the rest of your business: production and
training requirements, for instance.
Prepare realistic sales forecasts and budgets.
Include key indicators (eg new enquiries,
conversion rates, customers lost, average order value) and a system for measuring them in your
plan.
Cardinal rules
Do--
Base your
plan on solid market
research
Focus on target customers
Build an
action plan to achieve specific objectives
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