One of the fundamental procedures involved in any successful business operation is creating and implementing a marketing plan. A market is a particular group of buyers—or in the case of libraries, users or clients—who needs services. A marketing plan consists of several components, each of which is described below. Before writing a marketing plan, it is necessary to define your target market and to understand its needs. To write a marketing plan, follow the numbered outline below. 1. Prepare a mission statement.
The mission statement clearly and succinctly describes the nature of the business, services offered, and markets served—usually in a few sentences. Sometimes for larger companies it’s combined with a vision statement that can be two to three paragraphs in length. 2. List and describe target or niche markets.
In this section, list and describe potential groups of users or clients. After you create the list, identify various segments of a market. Segments can include specific types of people in a company by role—for example, chief executive officer, chief financial officer, or marketing director. Department heads are another type of market segment. For segmenting the consumer market, consider age groups. In addition, niche markets are an integral part of marketing. Within a target market of attorneys, for instance, there may be niche groups such as trial or malpractice attorneys. In some instances, targeting by firm size is an important consideration. 3. Describe your services.
As mentioned above, it’s necessary to conduct market research to understand your market and to identify the services they require. At the same time, inventory the services you currently offer and identify new services you wish to provide. Determine what it will take to provide these services in terms of staff, expertise, and costs. 4. Spell out marketing and promotional strategies.
Various strategies work better for different target...