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Marketing:10 Basic Steps

Marketing:10 Basic Steps. By N.J. Vallone. What is “Marketing”?. Securing & maintaining mutually rewarding customer relationships. You Need A Plan. “If you don’t know where you’re going, any road will take you there.” A marketing plan is a roadmap that leads you to your business goals.

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Marketing:10 Basic Steps

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  1. Marketing:10 Basic Steps By N.J. Vallone

  2. What is “Marketing”? • Securing & maintaining mutually rewarding customer relationships

  3. You Need A Plan • “If you don’t know where you’re going, any road will take you there.” • A marketing plan is a roadmap that leads you to your business goals.

  4. What Does a Marketing Plan Include? • Analysis • Objectives • Strategies • Action Steps

  5. Step 1: Setting Objectives What results do you want your marketing program to achieve? • Increase awareness? • Increase market share? • Build a prospect list?

  6. Step 1: Setting Objectives • Make your objectives SMART: Specific, Measurable, Achievable, Realistic, Time-bound Examples: This year I want to: • Increase market share by 15% • Increase sales from 2 to 4 units • Increase awareness by 25% within target audience

  7. Step 2: Who Are You? • What is the purpose of your business?

  8. Examples • Wal-Mart: We deliver low prices every day and help people save money so they can live better • Home Depot: We empower consumers to achieve the homes of their dreams

  9. Step 3: What Do You Offer? • What is your value proposition? • What is it you do exceptionally well that people are willing to pay for?

  10. Value Proposition Criteria • Differentiate your product, service or company from competitors • You must be legitimately better than the competition in at least one area • That one point of difference must matter to your ideal customer

  11. Step 4: The Customer • What does your ideal customer look like? • Age? Sex? Income? What else? • Does this customer represent your best opportunity for success?

  12. Step 4: The Customer • What is your customer looking for? • What do they value? • What are their wants & needs? • What are their pain points?

  13. Step 4: The Customer • What do you not yet know that you need to learn about your customers? • Where can you get this information?

  14. Step 5 Define The Market • Where can you find your ideal customers? • Where do they live, work & play? • What market segments provide the greatest opportunity for success?

  15. Step 6: Product Review • Define your product offering • What are the features and benefits of your product? • How well do the benefits align with the wants and needs of your target customers?

  16. Step 7: Competitive Review • Who are your top competitors? • What is your share of market vs. that of your competitors? • What do you know about their marketing strategies?

  17. Step 8: Distribution • How will you distribute your products to your customers? Direct? Through other channels? • How easy is it for customers to do business with you?

  18. SWOT Analysis • Define your organizations Strengths, Weaknesses, Opportunities & Threats • Consider the following: • Products & Services • Pricing • Distribution • Sales • Customer Service & Support • Positioning & Branding • Promotional Activities

  19. Step 9: Marketing Strategies • The “Big Ideas” that define how you will reach your objectives • Develop strategies for: • Products & Services (Customer Solutions) • Pricing (Customer Cost) • Distribution (Customer Convenience) • Promotion (Customer Communications)

  20. Step 10: Action Steps • What are the specific actions you must take to carry out your strategies?

  21. Is All This Really Necessary?

  22. It’s Up To You Take Your Chances Or plan for success

  23. Can We Help You? Helping businesses achieve their sales, profit and growth goals by advising, training and empowering them to strategically market their products and services. Norman J. Vallone Marketing Strategist E: njv@njvallone.com P: 937-272-2051 www.njvallone.com

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