Winning,the,Game,amp,#58,Your, marketing Winning the Game: Your Strategic Marketing Plan
Automation technologies represent a fundamental aspect of any modern industry. The major types of industrial automation solutions, such as DCS, PLC, SCADA, and MES, are used on a large-scale in process and discrete industries.DCS technologie Awhile ago, I got an email from one of the "gurus" I follow and it shocked me. The gist of it was this person wanted to trade services for a household item.To say it floored me would be an understatement.What was worse was a few days later t
If you want your small business to compete with the "big boys"you should have a "strategic marketing plan." A strategic marketing plan basically spells out how you will use youravailable resources to meet your company's stated goalsand objectives. (You do have goals right? If not that's a topicfor another article.) Here's what you need:1) State your Objectives:Companies usually set objectives in terms of desired profit,total sales, or market share. Profit tends to be the most popularcompany focus. Market share refers to how much of the marketyou snag compared to your competitors. Other objectives canbe your total sales, number of loyal customers, or customersatisfaction. Company objectives always provide a time frameand are verifiable which is why objectives are usually statedin percentages and dollar signs.2) Situation Analysis:Looks at the current business environment and can be elaborate or very simple. The components examined arecompetition, the size of the market, types of customers,channels of distribution, and economic conditions. Bytaking an overview of the whole picture and statingyour strengths and weaknesses, you'll havea clearer understanding of how well your company willcompete.3) Target Market:Who are your customers? Your company can't sell to everyone,so you need to decide what part of the market segment you'regoing to serve. A thorough understanding of who yourcustomers are and how to find them are imperative to yourcompany's success. Look at demographics such as how muchmoney they make, where they live, how much education they have, etc.4) Positioning:The picture created in your customer's eyes about yourcompany's products/services. When you think of positioning,think of "image." Positioning is very important in today'scompetitive world. Corporate marketing teams will oftenuse positioning strategies when trying to target differenttarget markets.5) Marketing Mix:The final step is to develop plans for each aspect ofthe marketing mix and integrate them into yourcompany's overall strategy. So, what's in the marketingmix you ask? They consist of the "Four P's":ProductPlacePromotionPriceYou must use all four elements of the mix in your strategyplan and devise a plan is needed for each. When you'redeveloping plans for each element, ask yourself the following types of questions.A) Product/ What new products can we introduce?What type of service do our customers expect?What should our return policy be?B) Place/ What types of places should carry ourproducts? How will we get our products to our customers? How will we handle complaints?C) Promotion/ What am I trying to accomplish throughmy promotion objectives? Branding? More sales? somethingelse? What types of media should we use to advertiseradio, TV, print, ect.D) Price/ How will my product/service be priced incomparison to my competitors? Can I make a profitat this price level?By keeping all of the above in mind you'll designa strategic marketing plan that allows you to winthe game and compete with your competitors.Running a business, just like a game, relies ongood strategy........It's your move.... Article Tags: Strategic Marketing Plan, Strategic Marketing, Marketing Plan
Winning,the,Game,amp,#58,Your,