Why Do I Need a Marketing Plan?

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First of all, you must have a strong desire for success as all successful companies have carefully planned and executed marketing plans. Many components make up their marketing plan and they can vary depending on whether you are a B2B company, B2C company, manufacturer, retailer, service company, reseller, non-profit organization or other professional company.

Market research is the first part of your marketing plan. You can do this internally or choose to hire the best marketing agencies, marketing consultants or specific marketing research firms. You must collect and record all information about your business and products and services to help you properly resolve any marketing issues. You may also be able to obtain marketing information from industry associations or other companies in a specific industry.

Most of your marketing research will be divided into 5 or 6 categories: survey, focus group, interview, observation, additional research or experiment / field trial. We will not go into details for each research category on this particular blog.

Whatever marketing research method you use, you must understand who your customers are or will become, you must understand the needs of your products or services, you must understand every competitor in the market, and you must understand every category in your industry. The market share of each company.

Once you have completed your marketing research, you can start developing a marketing plan. We will discuss the broader components of the marketing plan instead of focusing on specific business segments.

You need a summary to provide a brief overview of the content of your marketing plan.

You must set your goals. We always encourage companies to achieve goals that are specific, measurable, achievable, realistic and time sensitive, with dates attached. Most targets are calculated annually. However, ambitious owners or executives will also look forward to 3, 5 and 10 year goals. If you’re in Japan, a 100-year goal is set.

You must develop or define important information about the company. You should have formulated a mission, vision and cultural statement in your business plan. If these three projects are not developed, they should be created immediately before proceeding. It is vital that everyone understands and procures these three company statements from all employees so that everyone within the company can correctly communicate these items to all outsiders outside the company. You want their faith and trust to be as high as that of the owner or senior management.

You need to know all the information about the customer. This list will get you started. You have their age, gender, marital status, income level, education level, geographic location, where they shop, where they go to church, whether they have children, their age, political background, how they like and what they don’t like find, need They, why do they shop with you, what is their opinion of your product / service, what do they like / do they like the product / service least and whether potential customers do not know your brand or product / service? Customers want you to know certain information about them, and if you do, they will remain loyal to you while you spend time learning about them.

You must understand your own internal and external competition. Stay close to your friends, but stay close to your competitors. You need to know everything you know about the customer except filling in the blanks for each competitor on all of the above items. Understand how you are the same / different. Understand the similarities and differences of each product and service you provide. Understand how they sell or promote their products / services.

You must use a description of all the pros and cons to define the location. I will introduce the opening times and schedule in this section.

You need to develop a unique selling point for your business. You must provide detailed information about each product / service offered and specify its features / benefits / values.

You need to specify your budget based on advertising and promotion details. Includes any design, the development of the materials needed to promote marketing. List the media that will be used to execute your marketing plan, and list online, social media, email marketing, e-brokers / e-catalogs, TV, print, broadcast, PR, trade shows, sponsorships , charity partnerships, direct mail, Telemarketing and other channels. I will also determine what content is done internally and whether you have an outside agency to assist you with media sourcing and planning.

You must develop a pricing strategy for all products and services. You want to be higher or lower versus competitors? Do you plan to include labor / overhead / materials in costs? Be sure to list your pricing strategy for each product or service
A comprehensive marketing strategy will ensure your success because it will tell you how to obtain and keep customers, how to compete in your marketplace, and what resources you will use to achieve your goals and objectives.

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