Your marketing plan is your plan to bring your product or service to the market place. Marketing strategies match or transform your product or services to the needs of your customers. Good market research will uncover marketing ideas for new products or services that are not presently being met.
The first step is a market analysis. This analyzes the market size, growth characteristics, buying trends and trends for the future. It profiles the competitors in the market you want to compete in. What are their strengths, weaknesses and unique selling proposition. What are opportunities are there that are not being satisfied? Profile your current and potential customers. How do they make their buy decision? What are they looking for that isn't available today?
Marketing strategies and tactics are your plans to capture a niche or an entire market segment based on your company capabilities and the needs of the market. Marketing strategies should include product positioning strategies, pricing, distribution, channel penetration, advertising, Internet, public relations, tradeshows, use of reps, telemarketing, direct mail, etc.
Introducing new products or services to the market is a major stumbling block for most small businesses. Frequently an aggressive marketing manager will commit to a new product before it has ever been prototyped.
The new product development process should not be based only on technology and process capabilities (engineering driven). The new product launch that is based only on satisfying an un-met market need without taking into account company capabilities is equally bad (marketing driven). New product introductions need to be a joint venture between marketing and engineering to be effective.
A well thought out marketing plan is needed in today's world. MGolabchi and Associates can help develop the right plan for your business. We work with you and your staff to create your own blueprint for success. We work with startup organizations as well as mature organizations.