Marketing plan -

Preparation and evaluation of product level marketing plan preparing a marketing plan takes a good deal of work many people consider the plan to be simply choosing the media and then advertising but you will design marketing plan goes for me and that the following steps will be helpful in the plans design state the marketing goals and objective the marketing goals and objective must be compatible with both the business and personal goal and objectives if one wants the business to be an industry leader in the retail sector odds are that a substantial marketing budget will be necessary and they must be willing and able to spend this money on advertising the marketing goals and objective should state theory that the desire is to claim industry leadership and for this a substantial marketing budget will be necessary this will give focus to the plant plan second outline the image the image ported to the public by the business will have a major impact on the number and the type of the client in this should make certain that image that business portrays is compatible with the location and themselves third decide on the key selling features why is it the customer will consume the products and services is it a good location a low pricing strategy for have some personal karizma weather market when marketer identify the key selling features using a marketing strategy becomes easier IV check the products are the products compatible with the image if the business is expected to survive and the plan is to change consumers premium prices then will made products will not be good enough decide on the pricing strategy the pricing strategy is usually key component of ceiling features in some instances it is not of prime importance still in either case the pricing strategy must be recognised and implemented as a marketing tool this strategy will evaluate cost market demand the competitions pricing policy and elasticity of pricing 2 Analyse why customers buy the product if the business is the sale of fur coats then prestige will likely be a major factor for the customers for the Goodwill organisation customer will shop because of price if the business is to sale under our deodorant here is a factor in the customers purchasing decision understanding the purchasing rational is an ad in the marketing campaign Set out a customer define the customer has completely as possible market segmentation will be used for defining the customer profile the more characteristics that can be used to define the customer the more exact the promotional brand will be Define the selling place how is business is single retail outlet the location choice can be difficult but once choose and the selling pi place is set for a small producer or middle man who might be distributing to a number of location a continuous evaluation of channels of distribution and the final selling location must be constantly analysed develop a marketing plan develop marketing budget the marketing budget is at part of cash flow projection within this budget make certain that an adequate amount of funding is allocated to the marketing section so that the marketing goals and objectives are visible naturally this budget must be created remembering that the business is limited in its resources resources and that only so many dollars can be allocated to the marketing domain review and choose an appropriate promotional method what method will be best to reach the target market at the lowest price this is the key question but I have it will be television newspaper magazine or radio maybe the marketing budget cannot afford these areas and it will be forced to rely strictly on free publicity business cards flyers and word of mouth sales create advertising and make certain that it fits the business image advertisements must be created with the business image in mind and the customers needs must be considered it is voice therefore that the before advertising marketer have family friends and advertisers advisors check to make sure that the ads actually say that what they think they say that they promote the business in an appropriate manner this will help to attract the target customer implement the plan was everything has been check and double check to make a certain that all appears reasonable and logical and compatible with the goals and objective then implement the plan remember that this is an ongoing process and as business develops and changes area analysis of each of these steps should be undertaken updating help updating will help to ensure that business remain current and that it satisfies both continuous and changing market needs monitoring progress of marketing actions generally monitoring of the plan involves tracking specific results of the marketing efforts sales data by product territory sales representative and outlet are a few of the specific results that should be monitored what is monitored is dependent on the specific goals and objectives outline earlier in the marketing plan any weak signal from the monitoring process will provide the marketer with opportunity to redirect or modify the existing marketing effort to allow the firm to achieve its initial goals and objectives