Marketing Is Part Scimarketing Plan Can Lead to Effective Sales Strategies

Topics: Marketing, Management, Business Pages: 5 (1545 words) Published: May 9, 2013
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Marketing includes the upfront research that leads to the development of the communication of a sales message. A marketing campaign starts with learning about your target customer, marketplace and competitors. Using that information, you will choose different types of media and create your advertising and promotions. Start with number crunching, then use that information to create effective communications to boost your sales. Sponsored Link

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Step 1
Research the marketplace. Determine if there is a need for your product or service, or customers might not want to buy it. Do this by looking for competitors. In addition to finding competitors, examine the differences between their business and yours. Look for a unique aspect about what you sell. For example, there might be many restaurants in your city, but you might be one of only a few that cater to budget-conscious families. Step 2

Create a demographic profile of your potential customers. List the gender, age, race, location, marital status, parental status and income level of your primary customer and secondary buyers. Conduct customer surveys if you have access to their phone numbers or email addresses. Contact your industry's or profession's trade associations for research they have conducted. Conduct a survey on your website and offer a prize for participation. Limit this to people who have purchased your product online or who use a code on product packaging. Step 3

Research your competitors to learn their price, selling message and product or service benefits. Compare your business to your competitors. Product Development
Step 1
Determine if you need to change your product or packaging to better compete in your marketplace. A menswear store might consider adding boys clothing. A hair stylist might benefit from adding facials, manicures and pedicures and becoming a full-service salon. Step 2

Develop a brand, image or position for your product or service in the marketplace. Your brand might be that you offer low-cost quality or that you provide high-end service. You might offer name brands or focus on servicing what you sell. You can position yourself as the destination of young, hip consumers, or sensible, practical seniors. Step 3

Price your product to achieve your marketing goals. Once you know what you need to charge to make a profit, determine if you will undercut your competition, sell at a competitive price or price yourself higher. A low price positions you differently than a high price in the eyes of consumers. A low price decreases your profit margin but can help you take market share from higher-priced competitors. A high price might reduce sales but gives you higher margins and might position you as a higher-quality product or service. Promotion

Step 1
Decide where you will sell your product. Based on your target customer and brand position, your best options might include retail stores, online, in catalogs, through TV offers or with direct mail. Consider your price point and branding when you choose distribution channels. Selling a high-end product at Wal-Mart, for example, sends a mixed message. Step 2

Develop a public relations campaign to generate free media attention about your product. Send press releases to newspapers, industry trade associations, magazines, websites and radio stations. Write your press releases to focus on the newsworthiness to the public rather than making your communication read like a free ad. If you are a new business, stress that...
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