Define Marketing Strategies

Before you can determine how you will market your product or service, you’ve got to put together a features and benefits list, including what it has that competition lacks. You need a price point, packaging, and you need to decide if and how much you are willing to offer as a discount. All of this will help you properly position it in marketplace. This information is foundation upon which all your marketing and promotional materials are created.

Next determine various sources available for marketing your product or service. Some ideas include print ads, brochures, web banners, your own web site, trade show exhibits, partnership opportunities and promotional flyers.

Implementing and Evaluating Marketing Programs

The final two components are equally important. You’ve got to define a marketing budget, determine how you want to spend it and evaluate its effectiveness. Besides marketing avenue, decide whether or not you need to hire employees, and what training they will need. Determine how you will motivate your employees, including your management, so that they share your goals and vision.

Evaluating your marketing programs is just as important as other steps. You may find you need to revise your marketing efforts including lowering price, highlighting different features, even selecting different marketing programs. An effective marketing plan is one that is regularly updated.

If thought of creating a Marketing Plan has you overwhelmed, get yourself marketing plan software. Using software will save you time because software knows right questions to ask. You fill in answers as necessary, push some buttons, and before you know it, you’ll be printing a professional-quality Marketing Plan that will chart your company’s future!