Marketing strategy
Rudyard Kipling must have known something about marketing:
I keep six honest serving-men
(They taught me all I knew);
Their names are What and Why and When
And How and Where and Who. (Kipling - The Elephant;'s Child)
- Where is the business trying to get to in the long-term
- Which markets should a business compete in and what kind of activities are involved in such markets?
- How can the business perform better than the competition in those markets? (advantage)?
- What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? (resources)?
- Who are the customers, what are they like?
- What external, environmental factors affect the businesses' ability to compete? (environment)?
- What are the values and expectations of those who have power in and around the business? (stakeholders)
Most people have heard of the 4Ps
- Product - What will we sell?
- Place - Where will we well it and who will we sell it to?
- Price - how much will we charge for it?
- Promotion - How will we tell people about it?
Even if you have a marketing strategy (a business plan) already we can help you review it and make sure it will work and nothing's been left out.
Once your straegy is worked out you can develop your communications plan, but be careful here. Lots of small businesses do it the other way round because they don't understand strategy.
if you don't have a plan, the quicker you get one, the better. Call us now!
Definitions
A business plan is the control document for your business. It includes
- a Marketing Strategy
- a Commuications plan
- a Budget
- a Financial forecast
3 an 4 are what your bank looks at when you apply for a loan.
1 and 2 are what make the figures happen and your bank will want to see those as well if they know what they are doing (discuss?)
Call us now about your Strategy, Communications plan, Brand design, web site