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How do we create an outstanding marketing plan? We need to first decide on our target audience and how we are going to reach them. Next we need to determine which medium will be most effective in reaching this audience. Then we have to decide who our competitors are and where they fall short. Finally we have to come up with creative ways to get people interested in our products.
What does that mean? It means that we need to identify our audience and figure out their needs. We need to find out what makes them tick and what they like. Once we know all of that, we need to determine which methods work best for us. That could include direct mail, email blasts, telemarketing, web sites, newspaper ads, magazine ads, radio, television, word-of-mouth, etc.
What should I consider when creating my marketing plan? You should think about your product, your competition, and your budget. The more specific you can be, the better. For example: “I am making a new kind of mouse trap. My main competitor has been selling mouse traps for years. They make them from plastic and sell them for $5 each. I am making mine from metal and sell them for $10 each. I have decided to market my mouse traps by putting coupons in newspapers. I will advertise in three different areas. One coupon will say ‘Buy one mouse trap for only $1.00!’ Another will say ‘Buy two mouse traps for only $2.50!’ And the third will say ‘Buy five mouse traps for only $7.00!’”
You may also want to consider how much money you have available to spend on marketing. If you don’t have enough money, you may not be able to afford everything you want to try. But if you have plenty of cash, you can experiment until you find something that works well.
Once you’ve figured out your target audience, your marketing strategy, and your budget, you can start planning. Start by writing down all of the things you want to accomplish. Include everything from your goals to your deadlines. Make sure you have room for any unexpected changes along the way.
Next, write down everything you already know about your business. What are your strengths and weaknesses? How long have you been operating? Where did you learn about starting a business? Who else is involved? Are there any special skills or talents you have?
Finally, take some time to brainstorm ideas. Think about anything that comes to mind. Write down every idea you have. Don’t worry about whether it sounds good or bad. Just jot it down. If you later realize that it doesn’t fit into your overall plan, you won’t lose too much time trying to fix it.
Now that you have written down all of your ideas, you can begin organizing them into categories. Start with the ones that seem the most important. These might include:
• Your mission statement
• Your vision statement
• Your values
• Your core competencies
• Your competitive advantages
• Your unique selling proposition (USP)
• Your marketing plan
• Your advertising campaign
• Your sales process
• Your customer service policy
• Your pricing structure
• Your distribution channel
• Your marketing strategy
• Your financial projections
• Your production schedule
• Your inventory management system
• Your quality control procedures
• Your return policies
• Your warranty program
• Your packaging/labeling/packaging materials
• Your shipping/delivery method
• Your advertising media
• Your promotion strategies
• Your promotional material
Conclusion
Marketing is a very broad term that encompasses many different activities. It includes everything from advertising to public relations to social media to direct mail to e-mail. In short, it covers pretty much everything you do as part of running your business.
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