To understand the strengths of your own business, you must understand your competition and your positioning. Who competes with you for your customers’ time and money? Are they directly selling competitive products and services, substitutes, or possible substitutes? What are … Continue reading
A website does nothing for your business or organization by itself. Its use depends on traffic, and traffic depends on marketing. A website without a marketing plan is as useful as a toll free telephone number that nobody knows about. … Continue reading
This is hard to write about, and hard for business owners to accept. It seems so negative. Still, it seems like we all need a fresh reminder. Bill Cosby said it well: “I don’t know the secret to success, but … Continue reading
Even though we agree that marketing plans will vary depending on the exact nature of your plan, it is hard to imagine a plan that doesn’t contain, at the very least, these four essential tables. Usually you’ll have these plus … Continue reading
Every marketing plan has to fit the needs and situation. Even so, there are standard components you just can’t do without. A marketing plan should always have a situation analysis, marketing strategy, sales forecast, and expense budget. Situation Analysis: Normally … Continue reading
A market forecast is a core component of a market analysis. It projects the future numbers, characteristics, and trends in your target market. A standard analysis shows the projected number of potential customers divided into segments. Market Forecast – Example … Continue reading
Channel marketing proves to be a “fit” if the process better responds to the desires of the target market than the organization could do alone. An organization must answer the question, “Will our customers or clients be better served by … Continue reading
How do you most efficiently get your product or service to the people that need it and are willing to pay for it? Using a marketing channel may be a solution. Channel marketing describes the organizations that work together to … Continue reading
Are you getting the most from your direct marketing? Make sure your direct marketing campaigns are target, measurable, and ethical. About Direct Marketing As we discussed in Direct Marketing Fudamentals, direct marketing includes various approaches in which the producer of … Continue reading
Direct marketing occurs when the “producer” connects with the end user. The end user may be a consumer or a business. Direct marketing applies to product and service-oriented businesses, and to nonprofit organizations. In all situations, there is no intermediary … Continue reading
