Template:BPB7
Marketing Strategy
[] Strategy: The science of planning and directing large - scale
operations, specifically of maneuvering forces into the most
advantageous position prior to taking action.
[] "He who excels at resolving difficulties does so before theyarise.
He who excels in conquering his enemies triumphs before threats
materialize." - Sun Tzu, "The Art of War"
[] It is important that your thinking in this section follows closely
to the definition of Strategy because it will help you specifically
define your business activities, strengths and direction. Carefully
designing this portion of your business plan will enable you to
appropriately respond to business conditions and opportunities - it
will make the difference between mediocrity and superiority. That's
why you're here, isn't it?
(Company)'s marketing strategy is to enhance, promote and support the fact that our products/services XXX (your unique features, benefits, establish market position/presence).
Comprehensive Plan
The overall marketing plan for our product/service is based on the following fundamentals:
[] Type of business you want to be in.
[] Segment of the market(s) planned to reach.
[] Distribution channel planned to be used to reach market segment:
retail, jobbers, wholesalers, brokers, door to door, mail order, party
plan, etc.
[] Share of the market expected to capture versus time.
To prove the value of XXX (product/service) we can XXX.
[] Show each application.
[] Demonstrate effects.
[] Add credibility with scientific reports & studies.
The void of XXX (product/service features/benefits) in every day XXX (specific business/professional/manufacturing/shipping/living/household situations) is demonstrated by XXX.
[] Based on studies of XXX.
[] Most of the country (and world) are XXX (describe their
situations / circumstances).
[] Describe why: XXX (they have problems, continue without your
products / services).
Product Strategy
XXX should be treated as a XXX (long-term/short-term) product/service.
[] If more than one, indicate for each long or short-term.
[] Important! How long before product pays for itself?
As such, the target market segments to focus on are XXX (specific customers) Because of (product)'s special market characteristics, XXX (seasonal, geographic, as mentioned in Market Analysis) our strategy includes/incorporates XXX (how you will address specific market/environmental conditions).
Positioning
[] How customers perceive your company and product, relative to
competition. Read this statement again. And again.
[] Product/Business/Industry leadership.
[] RECOMMENDED READING: Positioning by Al Ries & Jack Trout.
Our (product/service, or similar/competition's product/service) is seen by the consumer as XXX (customer's perception of your product/ service. Ask THEM. See also Focus Group Research section.)
Its unique advantages (technical, quality, performance) can be exploited to arrive at a winning position in the consumer's mind.
In terms of market segmentation advantages, we can use XXX (upscale consumers, ethnic appeal, etc.) to arrive at a winning position here.
Reposition (product/service) as XXX (example: from a cost to an investment, vacation becomes an "escape from civilization", etc.)
XXX (other products, services, people), to be effective, depend on the presence of our XXX (product/service).
Reposition the Competition
We can reposition our competitors by XXX.
[] What can be said/shown about a competitor's product/service that
will change your customers' minds? (about the competitor's product -
not yours).
The resulting Selling Basis for our product, then, is XXX.
[] This is your fundamental strategy for all of the advertising you do.
[] Test the Unique Selling Basis to make sure that it is:
Meaningful
Believable
Motivating
Memorable
Simple
Logical
Unique
Up to this point, our Selling Basis has been XXX.
[] In close alignment to Selling Basis?
[] Contrary to Selling Basis?
[] Lacking any clear definition at all?
International Market
[] It is important to consider your worldwide opportunities from the
start.
[] List countries in order of priority
Rationale
Language
Usage of product/service
[] See Advertising & Promotion, Selling Tactics and Distribution
sections for detailed plans of action.
Outside Suppliers
[] Include some of the following references:
Ad Agency Packaging Suppliers
PR Agency Display Designer
Direct Mailers Direct Response Advertising Firm
Mailing House Sales Material Printer
Direct Response Firm Marketing/Planning Consultant
Fulfillment House Premiums Supplier
Graphic Designer Telemarketer
Marketing Responsibilities
[] Define who will be responsible for these areas and
decision dynamics involved:
New business development.
Dealer and OEM support.
Sales generation tools.
Corporate graphics standard.
Brandmark recognition.
Direct response promotion.
Telemarketing - scripts/training.
Product position and identification.
Selling Tactics
[] See section on Selling Tactics for detailed plan of action.
Advertising and Promotion
[] See section on Advertising & Promotion for detailed plan of action.
[] Includes:
Company Positioning (Identity) within market
[] The Identity is consistent throughout all areas ofcommunication
Promotional Tools
[] Brochures and Catalogues.
[] Other Collateral Materials.
Advertising
[] Targeted Advertisements.
[] Media Selection & Strategy.
Sales Support
[] Distributor & Retailer Support Packages.
[] Representative support (sales tools).
[] Communication within channels of distribution.
Feedback Loops
[] Lead Generation.
[] Lead Referral & Follow-up systems.
[] Information gathering & dissemination.
Public Relations
[] See section on Public Relations for detailed plan of action.
Strategy Review
Now review all strategic statements against the following tests.
[ ] Do the strategies define means for achieving the objectives you
set, or are they merely restatements of those objectives?
[ ] Are the strategies consistent with your evaluation of the
marketplace and your capabilities?
[ ] Is the return on investment sufficient to justify the risks?
[ ] What are the chances of a competitor executing a similar strategy?
In that case, what would happen?
[ ] Are the strategies consistent with the political environment
within the company?
[ ] Have you made sure your strategies are based on facts, and not
assumptions?
[ ] Does the overall strategy leave you critically vulnerable to a
shift in market behavior? Are all your eggs in one basket?
[ ] Is your appraisal of the competition open-minded and honest?
[ ] Is your strategy legal?
[ ] Is the success of your strategy based on your ability window? What
are the chances of failure?
[ ] Have you thoroughly examined alternative strategies? Do you
have a sound, deductive rationale for your recommendations?
Next Steps
Based on the strategic plan, decisions that must be made now cover XXX.
The information needed to make those decisions includes XXX.
[] Data, research results, etc.
Key decisions to be made in the near term (next six months) are XXX.
[] Plus decisions to be made after six months, but before the next
fiscal budgeting process?
The information needed to make both of these decisions with confidence includes XXX.
[] Primary research projects (topic, time frame, budget).
[] Secondary research studies (topic, vendor, timeframe, cost).
The most sensible research recommendations are to XXX.
[] List questions you need immediate answers to.
[] See also Focus Group Research for a detailed plan of action.
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