A Marketing Plan In 7 Steps

Reading a good marketing plan will make your plans concrete and the chance of success gets greater each time. In this article you can read how to do that.

Step 1: Collect information about customer and competitor

Collect good marketing starts with information about your target group, the market, competitors and of course your product or service. Analyse them thoroughly; it is not a rocket science. Using a simple survey among your existing and/or potential customers, you can get lot of information. If necessary, you can make them complete the survey by offering a gift or discount. It can then be recovered quickly. You should come to conclusion about what does your target group think about your product? You should also analyse if they did not buy your product, then why they didn’t buy them? 

Step 2: Determine which market you want to serve

Defining your market is very important in order to use your marketing budget efficiently. A maker of small sports cars does not have to compete against Volkswagen or Renault, but instead he have to focus his marketing on a small segment of enthusiasts who sell small sports cars. His marketing plan will have to be focused strongly on the needs of that target group. The sales and communication channels should also be connected with this.

Step 3: Focus on your product or service

Positioning is the backbone of your marketing plan. What place does your product or service take on the market? Does it have a special feature such as: innovative, handy, only for women, original Amersfoorts? It is about the core message that you want to convey in your statements. It determines to a large extent about how you talk about your product or service. You have very different expressions about paint than about ice creams so make sure that you show the difference in your plan depending on the nature of the product.

Step 4: Consider the life phase of your product or service

The life phase of your product determines to a large extent what your marketing looks like. In many cases, a new product or service will market you differently (‘new!’) Than a product that has existed for some time (‘proven formula’). You can use other sales channels with different pricing.

Step 5: Clear your target group

Men or women? Elderly or young people? Hip birds or cautious middle classes? Residents of Groningen or the whole world? Segmenting by target group is an important part of the marketing plan. You can think of training, residence, faith and socio-economic background. Which approach is appropriate for your target group? 

Step 6: Investigate the buying behavior of your customers

People drive for a nice bread. Droplets, however, they buy on a spur of the moment when they are at the checkout. By knowing where and when they make a purchasing decision, you can focus your sales efforts very specifically on your target group. 

Step 7: Set your marketing budget

Money that you spend on marketing needs will be given back to you later on. It makes no sense to spend more money without making any profit. However, you will not earn money if you do not spend anything on marketing. Sit down with a large sheet of paper and count: how do your expenses outweigh the possible extra income? How do you use your marketing more efficiently? to gain more profit.