These are the employees who engage with your customers on a daily basis, and their feedback will give you valuable insights about your customers and prospects.
Fill any gaps by talking with your employees and researching publications from trade and professional associations specific to your industry. Are any recent major developments affecting your distribution channels? Once you have the specifics down, consider what you can do to reduce the impact of these threats.
Some common promotion strategies include: Now is a good time to get creative!
At the same time, make sure you watch costs and check that the strategies you embrace are measurable.
Once you've gathered market research, it's time to prepare your Market Overview section. What strategies are they using and how are they positioning themselves in the market? What kind of an impact do they have on your business? Now that you've described your current market situation and analyzed how various aspects of it affect your business, it's time to set your marketing objectives. Think of your marketing objectives as answering the crucial questions: What is my plan going to accomplish? Some examples of common marketing objectives include: It's a good idea to make each objective conform to the SMART goal criteria.
Begin this section with a description of your market as it currently stands. Include details about sales, prices and gross margins. SMART = Specific, Measurable, Attainable, Relevant and Timely. To align both you need clear, measurable objectives.
Look at recent financial reports, current and past sales numbers and your product and services list.
You'll also want to gather together information about your target market.
Define your market and discuss your customers' needs and any other market factors that might affect your customers' purchasing patterns. If you have more than one target market, describe the product lines associated with each one. Specific objectives are more effective because you can define the steps you need to complete to win.
What are the characteristics of your target market? This section should also include information about: Products/Services. To make objectives specific, start with knowing what success means for you. This will help you better evaluate the strategies and tactics you implement.