Marketing Plan for your Company: Basic Model – The marketing plan is an article that guides the strategic actions that must be taken to achieve a specific marketing objective. That plan can be of the company’s brand, product or service.An essential step is the marketing plan to have an efficient strategy that generates results.
In today’s post, we will present a model marketing plan for companies that want to stand out in the online world, where we will guide readers with the main factors to make a successful plan.
Table of Contents
The marketing plan is an article that guides the strategic actions that must be taken to achieve a particular marketing objective. That plan can be for the company’s brand, product or service.
The Marketing Mix and the Marketing Plan – Marketing Plan for your Company
The marketing combination is made up of five fundamental elements for carrying out any of the planning tasks and actions. It must be taken into account in each of the stages. It’s also known as the 5 P’s of marketing, and we’ve listed each of them below:
Your product can be a tangible good (products such as household utensils, books, computers, etc.) or intangible (services such as transportation, advertising agencies, and telecommunications, among others).
Whatever the nature of your product, it should always solve consumer problems and meet their needs. In this sector, guarantees, free shipping, differentiated packaging or installation are also offered.
The value defines the price your public or service has for the consumer. Typically, it varies during execution, but it is necessary to determine the value in the planning stage.
Generally, a reasonable price covers the investment costs and returns the company satisfactorily. It must also be similar to other products available in the market, making it competitive.
The place refers to the operating system by which your product reaches the consumer. You can have points of sale in some stores, offer services at home or have a virtual business.
It also refers to the location, structure, means of distribution and even relationships with suppliers, representatives, retailers and distributors.
Promotion – Marketing Plan for your Company
Promotion refers to the means of influencing the consumption of your product. In other words, how will you encourage the buying momentum, generating demand for what you sell?
It is connected to the channels of communication with the consumer and what strategies will be used to capture and retain him as a loyal customer. Generally, it is based on three objectives:
- Inform prospects of the product’s existence or benefits;
- Reveal where and how to obtain that product;
- Remind you of the presence of the product.
Promotion can range from face-to-face events to online and offline communication channels. Television, radio, flyers, banners, exteriors, multimedia, magazines, newspapers, email marketing, social networks, sponsored links, content marketing, etc.
It is also related to branding, visual identity, advertising, sponsorship marketing, telemarketing, etc. This is tied to the promotion and must be determined at the planning stage.
People – Marketing Plan for your Company
People are a fundamental element of the sustainability of a business, and they are responsible for executing the tasks that guarantee the delivery of a quality product or service.Thus, all employees and officials must have a thorough knowledge of the operational functioning of the company, such as its objectives and goals.
Presenting them a marketing plan will make them understand and know whether or not they are doing a job aligned with the outlined strategies.
The main concern of this standard is the motivation to persist and keep the business running. Therefore, it is related to training, fraternizations, reward and recognition policies, and good recruitment services.
Only with a clear understanding of the functions and the understanding that each of them is fundamental to the operation of the business can a company prosper.
Here, the communication systems used to interact with collaborators are also defined. Many specialists say that the officers of a company, in addition to their practical functionality, are also critical promotional tools. The stimulation of well-being, and rewards for good results, among other factors, can directly influence the company’s profit.
Market Research – Marketing Plan for your Company
Also called surveys, market research is a fundamental element of marketing planning.Market research is used to understand the consumer’s perception concerning a brand, services and other related aspects, such as advertising.
These are a great advantage to help decision making, anticipating problems and solving them, and serve as a parameter in the marketing plan.
Market research can and should be approved constantly since it is an essential verification instrument in the planning stage. This reveals relevant information and can predict whether a business is economically viable, observe data on demand and supply, and be the basis for adjustments by small, medium and large companies.
These can be a source of internal data when carried out in the microenvironment of a business, that is, with the company’s officials, or external, bringing information related to consumer expectations, level of satisfaction and level of knowledge of the services offered.
In addition, it can reveal news regarding the competition, world trends, technology and consumption habits. So market research is one of the most potent tools for plan preparation.
There are some stages to be executed in market research.
In order, these are:
- Definition of the objectives
- Research planning
- Analysis of results
- Presentation of the results
For such, it is necessary to know the study’s affinity and what will be done with the results. Thus, you will have the so-called investigation briefing in your hands.
There are also some differences concerning the types of research to be carried out.
Based on statistics, which are generally intended for many people. You have probably already participated in some research of this type, in the form of a survey, for example, answering quick and direct questions.
The great advantage of this type of research is the possibility of having a large sample and producing generalized data. In addition, the values are usually lower than those necessary for qualitative research.
Qualitative – Marketing Plan for your Company
Behavioural in nature, which seeks to measure hypotheses raised about a problem. These investigations are comprehensive; therefore, they are carried out with fewer people.
They can be carried out through focus groups(collective situational dynamics with small groups), individual interviews or ethnographies (a technique in which a professional is inserted into a specific group).
These reveal more profound aspects of consumer behaviour, extracting cognitive, emotional and motivational data. It is also dynamic and flexible, whereas quantitative research has standardized questions. In addition to that, the data collected in this type of research is interpretive and extremely specific.
Use the two types of research mentioned above simultaneously. It is worth noting that market research can be done both personally and online. In addition, segmentation is also an essential element since each product is aimed at a particular audience. It can vary by geodemographic, socioeconomic, psychographic, behavioural criteria, etc.
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