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Added for You - Marketing Planning Made Simple - Another Small Business Power Tool
You would think that developing a business card would be easy. You put the name of the business, email, phone number, fax, website and whatever else you think is pertinent and/or applicable. Obviously, if you have no website or fax, well then chances are you’re not going to include such items…Duh. So, you sit down at your desk and jot down some ideas and before you know it, if you actually put some effort into it, you realize it is not as easy as you originally thought. Well, just like any other type of advertising, business cards take some thought for development. The first thing we
3. Strategy. Now that you have defined your situation and your market, it should be eas
Like many industries, the steel building industry too has its share of hucksters. These companies, out to make some quick money, often prey on ignored consumers who are not having enough education to counter-check the details. Thus, making a purchase without having proper knowledge about steel buildings and the purchasing process can land you up in a disastrous situation. So, educate yourself before stepping out. Low-Grade Steel Buildings You’ll come across a lot of companies who would make you believe that they are selling their steel buildings a cheap
Well, I’m just enough of a skeptic to believe that many of these books were designed more to make money for their publishers and authors than to make marketing planning simple and understandable.
I spent more than 30 years working with very successful small business people who never wrote a single marketing plan. Why didn’t they need complex, 100-page marketing plans chock full of statistics, charts and graphs like the experts recommend? It’s because they knew exactly where they wanted to take their companies and how to get them there and they were universally successful.
The fact is they basically carried their product “marketing plans” around in their heads. That’s how simple marketing planning can be. In fact, if you strip marketing planning down to its most basic elements, you could just about write your plan on the back of a napkin.
Okay, that might be a bit of an oversimplification, but let’s look at the six basic things you need to know for successful marketing planning.
1. The situation. Is this a new or existing product or service? If it has competition, how is it better than the competition? Bigger? Lasts longer? Easier to use? Offers more features? Priced better? You should be able to sum up your situation in a couple of sentences. If not, maybe you don’t really understand the situation.
2. The market. How big is the market for your product or service? This can be defined in terms of total dollars, number of units sold or any other quantifiable number. The important thing is to know the size of your market because only by knowing this can you define a marketing objective. You also need to define what the market looks like -- Males, age 25-45? Soccer Moms? Working mothers? Seniors? Childless couples? A market isn’t just numbers, it’s people. And it’s important to understand where they are economically, what’s important to them, and what problems you can help them solve.
3. Strategy. Now that you have defined your situation and your market, it should be easy
Down-sized? Outsourced? Burned-out? Wizened up? That's what I said. Wizened up! Now is not the time to be depressed. Now, is the perfect time to assess your life and what you want to do with the rest of it. One easy way is to explore career options that are complementary to you. Whether you are leaving by choice or have been asked to leave, you probably have more courses of action then you think.Give yourself several, uninterrupted hours to perform this task. Find a quiet, comfortable place to sit. Have paper, at least five sheets, and pen ready. Do not use a pencil for
The fact is they basically carried their product “marketing plans” around in their heads. That’s how simple marketing planning can be. In fact, if you strip marketing planning down to its most basic elements, you could just about write your plan on the back of a napkin.
Okay, that might be a bit of an oversimplification, but let’s look at the six basic things you need to know for successful marketing planning.
1. The situation. Is this a new or existing product or service? If it has competition, how is it better than the competition? Bigger? Lasts longer? Easier to use? Offers more features? Priced better? You should be able to sum up your situation in a couple of sentences. If not, maybe you don’t really understand the situation.
2. The market. How big is the market for your product or service? This can be defined in terms of total dollars, number of units sold or any other quantifiable number. The important thing is to know the size of your market because only by knowing this can you define a marketing objective. You also need to define what the market looks like -- Males, age 25-45? Soccer Moms? Working mothers? Seniors? Childless couples? A market isn’t just numbers, it’s people. And it’s important to understand where they are economically, what’s important to them, and what problems you can help them solve.
3. Strategy. Now that you have defined your situation and your market, it should be eas
A recent survey conducted by the National Association of Manufacturers revealed that one third of manufacturing companies in the United States have good jobs going unfilled due to a lack of qualified applicants. This should come as no surprise as the Bureau of Labor and Statistics has reported similar trends affecting virtually every industry in the nation. As the labor shortage looms, here are 4 ways that guarantee you attract top talent with your employee benefits.Benchmark the CompetitionBenchmarking your competitor's employee benefits should be your first objective.
Okay, that might be a bit of an oversimplification, but let’s look at the six basic things you need to know for successful marketing planning.
1. The situation. Is this a new or existing product or service? If it has competition, how is it better than the competition? Bigger? Lasts longer? Easier to use? Offers more features? Priced better? You should be able to sum up your situation in a couple of sentences. If not, maybe you don’t really understand the situation.
2. The market. How big is the market for your product or service? This can be defined in terms of total dollars, number of units sold or any other quantifiable number. The important thing is to know the size of your market because only by knowing this can you define a marketing objective. You also need to define what the market looks like -- Males, age 25-45? Soccer Moms? Working mothers? Seniors? Childless couples? A market isn’t just numbers, it’s people. And it’s important to understand where they are economically, what’s important to them, and what problems you can help them solve.
3. Strategy. Now that you have defined your situation and your market, it should be eas
Ever wanted to earn cash while doing your favorite hobby, such as scrapbooking? Well, you could! There are many careers available in the scrapbooking industry. If you like creating albums of memories, you can be getting paid for doing it! Think it is too good to be true? Think again! If you are imaginative, you could find a job in an instant scrapbooking industry that matches your passions.Many craft stores have jobs available in the scrapbooking industry. Stores that offer lots of different craft and hobby supplies adore having an experience person in a certain field or hobby incl
2. The market. How big is the market for your product or service? This can be defined in terms of total dollars, number of units sold or any other quantifiable number. The important thing is to know the size of your market because only by knowing this can you define a marketing objective. You also need to define what the market looks like -- Males, age 25-45? Soccer Moms? Working mothers? Seniors? Childless couples? A market isn’t just numbers, it’s people. And it’s important to understand where they are economically, what’s important to them, and what problems you can help them solve.
3. Strategy. Now that you have defined your situation and your market, it should be eas
Some of the conditions for innovation may seem 'idealistic' and it is extremely unlikely that the perfect organisation exists. All of the key areas are important and it is useful to identify how effective organisations are and whether any aspects of the organisation are being neglected. This only gives a broad overview. To get a detailed picture it is necessary to look at how creativity and knowledge are used and managed.Team WorkDo people work as individuals or in teams, how effective are they, are teams multi/single function. An important factor is the deg
3. Strategy. Now that you have defined your situation and your market, it should be easy to develop a marketing strategy. For example, if your product is footless, control top panty hose, your strategy might be to “focus sales efforts on figure-conscience women age 34-45 during the spring and summer months.”
4. Tactics. If “strategy” is what you intend to do, “tactics” is what you need to do to accomplish it. In the case of the strategy example above, the tactics might be:
- Begin sales efforts against distributors by Feb. 1
- Have products in distribution pipeline by March 1 for delivery to retailers no later than April 1.
- Begin concentrated radio advertising in 12 key markets by April 15 …and so on
5. Objective(s). You can frame your objectives any way you want but you have to assign a number and a date. It’s no enough to say, “Successfully introduce the new product by year’s end.” In the immortal words of Yogi Berra, “If you don’t know where you’re going, you might end up somewhere else.” If you don’t include a number and a time, you will never know whether or not you were really successful. Write objectives like “sell 5,000 units by December 31.” Then, on January 1, you can count sales and determine how successful you were. Best case, you will find you sold 5,000 or more units and will know your marketing planning was right on. And if you didn’t meet the objective? You should be able to at least learn a lesson and do better next time.
6. Budgeting. The final thing you need to consider is how much money you can spend to meet your objective. The best way to do this is break down your budgeting by tactics. If you need to reach 100,000 women to sell 10,000 units of your product, do you have the money to do this – in terms or radio, newspaper, TV or direct mail?
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