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To Market
Market Goals and Strategies
A marketing plan is an essential ingredient of your business plan. It
makes up the meat of the overall business plan, and may require quite a bit
of research on your part to do it right. A more complex plan could entail
hiring a marketing specialist to ensure the completeness of your plan.
There are many different ways to go about crafting your marketing plan,
but the first step is to create an outline. These important contents of a
marketing plan should be included:
Description of the market, target customers, market opportunities,
marketing strategies, sales strategies, advertising and promotion, pricing
strategy, competitive analysis and market demographics.
Marketing means getting customers to consider using your business,
whereas sales refers to the actual means of
getting the business. As you can see, there’s a fine line between defining
the two strategies. That’s where decisions on whether or not to use a
marketing specialist come into play. Obviously, cost will be a factor in
making your decision.
Setting marketing goals and objectives with concrete time periods is the
first step in creating a successful marketing path. Designing the plan is
next.
A marketing plan usually consists of three types of marketing
activities—self-promotion, media relations and advertising. Self-promotion
is communicating your company’s message through corporate identity,
newsletters, direct mail, special events, trade shows, brochures and a Web
site.
Media relations is getting writers, reporters
and editors interested in promoting your business through their own
publications. You can help this along with by using timely, informative
press releases.
Advertising refers to your business paying for the promotion in some
form or other including print, online and on-air services.
Please contact us for more information on any aspect of market planning
and implementation.
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