A marketing plan is a plan which
outlines a company's overall marketing efforts. A good plan will outline how a
firm can attract and retain customers, how it will compete against its
competitors, and the budget needed to achieve desired results. It is a roadmap
to build your company’s individuality and advertise your commercial
enterprise.
Some firms like to include a
marketing plan as a part of their business plan. Whether it is a part of a
business plan or a separate document on its own, the important thing to
remember is to include aspects such as market research, business location, the
target customer group, competition, the budget and marketing techniques.
Following are some points to consider while making your marketing plan.
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7 questions to answer while making your marketing plan:
It is easy to lose track on a long journey. Therefore, determining the mission and vision of your firm in a fuller sense. You can periodically review and revise it as per the changing circumstances.
2: Do you recognize your goals?
A vision can come to life only with strong actions. Setting the right goals and objectives is a step that most companies fail to prioritize. Define goals for your company, such that they are readable, simple and measurable.
A vision can come to life only with strong actions. Setting the right goals and objectives is a step that most companies fail to prioritize. Define goals for your company, such that they are readable, simple and measurable.
3: Do you know the current
trends?
‘Green’, ‘Globalization’, ‘Economical crisis’, ‘Climate Change’!
There are many new ‘buzz’ words that affect our lives every day. But are you aware about their impact on your business? Do you see opportunities in these new emerging trends? Ask yourself how to drive your marketing campaign to take the benefit of new market trends.
‘Green’, ‘Globalization’, ‘Economical crisis’, ‘Climate Change’!
There are many new ‘buzz’ words that affect our lives every day. But are you aware about their impact on your business? Do you see opportunities in these new emerging trends? Ask yourself how to drive your marketing campaign to take the benefit of new market trends.
4: How well do you know your
market?
Who are your potential clients? Knowing your client is one of the most basic aspects of your marketing plan. You can’t plan effectively without knowing the answer, and yet many small business owners play a guessing game when it comes to analysing their current and likely clients.
Who are your potential clients? Knowing your client is one of the most basic aspects of your marketing plan. You can’t plan effectively without knowing the answer, and yet many small business owners play a guessing game when it comes to analysing their current and likely clients.
5: What is your Strength and
Weakness?
‘Reputation is easier to break down than build’. SWOT (Strength, Weakness, Opportunity, Threat) Analysis is one of the most common management tools applied to understand a firm’s competence. Analyse your firm honestly and find the strengths you can promote and weakness that you can strengthen.
‘Reputation is easier to break down than build’. SWOT (Strength, Weakness, Opportunity, Threat) Analysis is one of the most common management tools applied to understand a firm’s competence. Analyse your firm honestly and find the strengths you can promote and weakness that you can strengthen.
6:Are you keeping up with time?
The only constant is change.
Your tried and tested marketing techniques will soon be outdated. Do you measure you’re the success rate of your marketing campaigns? How often should you rethink and redesign them? Has the needs of your customer changed since the beginning of your firm?
7: Do you need feedback?
Face the feedback.
Don’t avoid taking feedback from your clients, employees, contractors, suppliers and all those who are connected and concerned with your work. A feedback is like a warning signal; it tells you about your strength, weakness, opportunities and possible threats. If you don’t consider it seriously, you may miss seeing the possible danger pits on your way.
The only constant is change.
Your tried and tested marketing techniques will soon be outdated. Do you measure you’re the success rate of your marketing campaigns? How often should you rethink and redesign them? Has the needs of your customer changed since the beginning of your firm?
7: Do you need feedback?
Face the feedback.
Don’t avoid taking feedback from your clients, employees, contractors, suppliers and all those who are connected and concerned with your work. A feedback is like a warning signal; it tells you about your strength, weakness, opportunities and possible threats. If you don’t consider it seriously, you may miss seeing the possible danger pits on your way.
Further Reading:
[1] E-Article: M-Plans.com for Sample Marketing Plans
[2] E-Article: Marketing ideas for small architectural firms
[2] E-Article: Marketing ideas for small architectural firms
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