bharatbhasha.com
Free Articles  >>  Marketing >>  Page 471  >> 

Winning the Game Your Strategic Marketing Plan





Winning the Game: Your Strategic Marketing Plan   by Merle


If you want your small business to compete with the "big boys"
you should have a "strategic marketing plan." A strategic
marketing plan basically spells out how you will use your
available resources to meet your company's stated goals
and objectives. (You do have goals right? If not that's a topic
for another article.) Here's what you need:

1) State your Objectives:

Companies usually set objectives in terms of desired profit,
total sales, or market share. Profit tends to be the most popular
company focus. Market share refers to how much of the market
you snag compared to your competitors. Other objectives can
be your total sales, number of loyal customers, or customer
satisfaction. Company objectives always provide a time frame
and are verifiable which is why objectives are usually stated
in percentages and dollar signs.

2) Situation Analysis:

Looks at the current business environment and can be
elaborate or very simple. The components examined are
competition, the size of the market, types of customers,
channels of distribution, and economic conditions. By
taking an overview of the whole picture and stating
your strengths and weaknesses, you'll have
a clearer understanding of how well your company will
compete.

3) Target Market:

Who are your customers? Your company can't sell to everyone,
so you need to decide what part of the market segment you're
going to serve. A thorough understanding of who your
customers are and how to find them are imperative to your
company's success. Look at demographics such as how much
money they make, where they live, how much
education they have, etc.

4) Positioning:

The picture created in your customer's eyes about your
company's products/services. When you think of positioning,
think of "image." Positioning is very important in today's
competitive world. Corporate marketing teams will often
use positioning strategies when trying to target different
target markets.

5) Marketing Mix:

The final step is to develop plans for each aspect of
the marketing mix and integrate them into your
company's overall strategy. So, what's in the marketing
mix you ask? They consist of the "Four P's":

Product
Place
Promotion
Price

You must use all four elements of the mix in your strategy
plan and devise a plan is needed for each. When you're
developing plans for each element, ask
yourself the following types of questions.

A) Product/ What new products can we introduce?
What type of service do our customers expect?
What should our return policy be?

B) Place/ What types of places should carry our
products? How will we get our products to our
customers? How will we handle complaints?

C) Promotion/ What am I trying to accomplish through
my promotion objectives? Branding? More sales? something
else? What types of media should we use to advertise
radio, TV, print, ect.

D) Price/ How will my product/service be priced in
comparison to my competitors? Can I make a profit
at this price level?

By keeping all of the above in mind you'll design
a strategic marketing plan that allows you to win
the game and compete with your competitors.

Running a business, just like a game, relies on
good strategy........It's your move....

About Author Merle :


Article Source: https://www.bharatbhasha.com
Article Url: https://www.bharatbhasha.com/marketing.php/29329

LD
Other Articles by Merle

Sometimes Obsession is a Good Thing
by MerleNo, I'm not talking about washing your hands fifty timesa day or smoking a pack of cigarettes. That's just nothealthy. However, if you are obsessed with promoting yourself online, you've got a good thing going. If you want traffic you need to sleep, breathe, and eatpromotional marketing techniques. Don't assume that justbecause you've listed your site with the search engines your work is done. That is just your starting point; thebeginning, not the end. You need to start thinking...

Relationship Marketing Online
by MerleForming good relationships is a part of life; not onlyfor ourselves but for our businesses. You should bethinking of your customers as long-term clients, not just one time sales. Whenyou work hard at forming good relationships withthem, you'll find they come back and buy from you again andagain.Remember this: It's much easier to sell to an existingclient then to find a new one. It's also less expensive.Another perk of making them happy is they'll refertheir friends and associates to...

Publish an Ezine Your Website Depends on It
by MerleSo you've done all the research, built your website andyou're ready to show it off to the world and make your Internetfortune. Whoa, not so fast there, Mister. If you haven'tincluded an ezine, your site is missing out on a major onlinemarketing tool. Here's why the decision to include one or notcan lead to your website's success or ultimate failure.1st Time Visitors. Let's face it: the first time someone comesto your website, the odds are they're going to be leary and not buy from...

7 Reasons Why You Should be Publishing an Ezine
by MerleEzines: They're everywhere you look, and for verygood reasons. They are an excellent online marketingtool. If you have a website and aren't publishing yourown newsletter, I'm going to give you seven very good reasonswhy you should start.1) Establishes Trust: When people visit your website,they have no idea who you are. As far as they'reconcerned you might be some evil person lying in wait,just trying to get your hands on their credit card number so you can run up the national debt....

So you Wrote an E book Now What
So you Wrote an E-book...Now What? by MerleE-books are one hot marketing tool. For those of youwho don't get out much, an e-book is basically acollection of HTML documents that have been compiledinto an executable (.exe) file. The concept is that ofan electronic book that can be downloaded, read pageby page, and passed around easily online.Some e-books are sold where as others are givenaway freely. Those who download free e-books are encouraged to give them away to their friends orbusiness...

Ask Jeeves How Do I Get a Top Listing in your Directory
by MerleMillions of people enjoy using 'Ask Jeeves,' by simply typingin a question and getting back relevant search results. With many of the search engines/directories turning to paymodels, 'Ask Jeeves' now offers its own Text Sponsorship Program.A text sponsorship ad consists of a title no longer than 40characters and a description which can be up to 150 charactersin length. Your 'text ad' appears to the right on the search results page every time someone does a search that includes one of...

Marketing Yourself Online Freelancing 101
by MerleBefore the widespread use of the Internet, working foryourself was a much tougher undertaking than it is today.With over 13 million people claiming the status ofself employed, sites have sprung up online to fill this niche and offer help through a variety of services.>From helping you find work projects to offering advice,these sites can be a real asset to anyone striking out on their own.Job categories range from writing, management,legal, Information Technology, marketing, and...

40 Easy Ways to Promote Your Website Online and Off
by Merle1) Make sure if you have an on-hold messaging system or an answeringmachine that it includes your URL and email address.2) If your company has voice mail have your employees' listyour URL in their individual messages.3) UPS advertises on their trucks, why don't you?URL plates can be ordered with your web address and puton the back of your car or company vehicles.Take a look athttp://www.mcpromotions.com/adURL/default.htm4) If you give out promotional gifts to your clientslike cups,...

Finding that Host that Offers the Most
by MerleWhether you already have a website or are thinking of setting up shop online, sooner or later you'll have to deal with the issueof web hosting. Although it may seem like a no brainer, there are actually many factors you'll need to consider before makingthis important decision. Your first inclination may be to lookonly at the cost, thinking cheaper is better. However, thatold saying you get what you pay for,is especially true in thissituation. Here are some of the more important...

PayPal Alternatives Do You Have a Backup Plan
? By Merle http://mcebook.mcpromotions.com Many people think that in order to do business online you need to have an expensive merchant account to have the ability to take payments by credit card from your customers. Nothing could be further from the truth. Merchant accounts can be hard to get and the monthly fees can really add up. So what's an honest Internet Entrepreneur to do? The answer for most is Paypal.com. It's easy to set up an account, and fees are low and depend on your...

Click here to see More Articles by Merle
Publishers / Webmasters
Article ID: 29329
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:


177 Users Online!!
Related Articles:
Latest Articles:
 
marketing >> Top 50 Articles on marketing
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts
Aging


Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of bharatbhasha.com and/or its owners.


Copyright AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

India Hosting Services Provided By AwareIndia







Company IDS