Marketing is a well-known term in the today’s business world. Marketing is something that drives your business. There are number of definitions given for the term. I am including a few one in this article.
Marketing can be defined as “the activity, business, and the processes for creating, delivering, and exchanging products and services that have demand in the market.”
Marketing is the messages that cause actions.
Marketing includes investigate, targeting, promotion (advertising and direct mail) and often public communication.
Marketing is the process by which a business profitably converts customer needs into income.
Marketing is a process of fulfilling the needs and wants of a consumer.
In its simplest form, Marketing is the process of telling the customers about your product and services. Marketing is like back-bone to a business without which a business cannot be supposed to grow.
Now, all of you must have a clear idea of what is marketing all about. Let’s move to some basic strategies related to marketing.
Marketing strategy is a process which allows you or your organization to decide your business goals. It is the explanation of goals that your business is supposed to achieve. Your marketing strategy is completely framed around your business goals.
Here are some basic tips of deciding marketing strategy for your business.
First, define and understand your target market.
Decide and note down your company’s Unique selling proposition or term.
Write down benefits and short comings of your product and services.
Also investigate the demand of your product in the market.
Define your marketing techniques that you want to use for marketing your product such as internet marketing, advertising, or direct marketing.
People often get confused between marketing strategy and marketing plan. Marketing strategy and Marketing plan are two completely different things.
Marketing plan is a process or planning of how to achieve your business goals. It is the implementation of your marketing strategy.
In the simplest term, marketing strategy is about “What to do” and Marketing planning is about “How to do”.
Deciding your Marketing Plan:
First, analyze the situation and present status of your product in the market. This section covers things like goals, culture, strengths, weakness, market share, etc.
Analyze your customer: This section covers your customer. You must know about your target customer, about their demands, their thinking, etc.
Analyze your competitors: There will surely be other businesses in the market that are providing same services and products as of yours. You also need to analyze them, their strategy, their strengths and weaknesses and their market position.
Some basic contents of a marketing plan are Introduction to the plan, Marketing objectives, Situation analysis, Target market analysis, etc.
Author is Kevin Meaney. He is an online marketer in an Ireland based company. He loves to write on different topics. Right now he is writing about Marketing Limerick.
Visit idfmarketing.com to know more information about this topic.