Preliminary stage of development of promotion strategy
Posted: Sun Dec 22, 2024 5:34 am
Before developing a plan, it is necessary to research the market, understand what customers lack. Marketers find out what affects the cost of the product. Then they check the availability of the required resources and set time frames.
And immediately after this comes the direct development of a strategy for promoting the company.
Target
A clear and precise goal is required for mailing address example philippines successful business management. It should correspond to the overall development strategy and promote sales growth and attract consumers' attention to the new product. Taking this into account, appropriate mechanisms for achieving the goal are selected.
It is important to achieve its compliance with SMART standards . This does not mean mental abilities - this term is formed by shortening the English names of the characteristics:
Specific — specific;
Measurable — measurable;
Attainable - achievable;
Relevant - consistent with the company's objectives;
Time-bound — limited by time frames.
Good results are achieved not just through correctly formulated goals, but through the use of services to automate processes.
Incorrect formulation of the goal Correct formulation of the goal
Increase sales of electric scooters by 30% Increase sales of Xiaomi electric scooters by 30% within the region and by 10% in neighboring regions by Q2 2023
When setting goals, you also need to take into account the scope of activity:
market - to increase the company's share in the electric kettle market by 3%;
production - speed up the production of car batteries by 10% and reduce the cost by 7%;
organizational - increase the productivity of managers by automating the generation of invoices for payment;
financial - to ensure growth of profits from the production of steel knives.
Positioning a business in the market
In particular, the brand image and its unique selling proposition (USP) are of great importance when setting prices for products.
When developing a marketing strategy, the owner of the company specifies which characteristics need to be especially emphasized. The cost is also determined in accordance with them.
Entrepreneur Maria sells knitted clothing. Among other things, she sells hats made of natural wool for only 500 rubles.
Positioning a business in the market
Source: shutterstock.com
In her ads, Maria emphasizes that her store is suitable for any customer, regardless of gender, age, or income level.
Both in outdoor advertising and on social networks, clients are spoken of as the closest people.
There is a nearby outlet owned by Maria's competitor. It offers similar products, but at much higher prices. The owner of the business, Elena, draws attention to the premium quality of the products and the quality of the workmanship.
This store is rarely visited by customers, but due to the high prices, a stable income is maintained.
Wealthy people contact Elena, and communication with them is conducted in a businesslike manner to describe the advantages of knitted clothing. The main idea that is supposed to be conveyed is that the store's products are intended for those who value their health.
Communication with target customers should take place through a social network or a thematic website.
This is necessary so that consumers focus on shopping and do not start asking unnecessary questions. Professionals strive to ensure that the promotion plan corresponds to the company's self-presentation.
List of products
To create a strategy, it is necessary to focus on the company's product range. The nature of the products produced affects the segment in which the business is carried out.
You will have to:
analyze demand;
choose a niche;
analyze competitors' products and estimate their cost;
monitor products and divide them into categories;
expand the range;
check its balance.
In the context of continuous transactions, the product range is subject to frequent changes. This nuance should also be reflected in the promotion plan.
And immediately after this comes the direct development of a strategy for promoting the company.
Target
A clear and precise goal is required for mailing address example philippines successful business management. It should correspond to the overall development strategy and promote sales growth and attract consumers' attention to the new product. Taking this into account, appropriate mechanisms for achieving the goal are selected.
It is important to achieve its compliance with SMART standards . This does not mean mental abilities - this term is formed by shortening the English names of the characteristics:
Specific — specific;
Measurable — measurable;
Attainable - achievable;
Relevant - consistent with the company's objectives;
Time-bound — limited by time frames.
Good results are achieved not just through correctly formulated goals, but through the use of services to automate processes.
Incorrect formulation of the goal Correct formulation of the goal
Increase sales of electric scooters by 30% Increase sales of Xiaomi electric scooters by 30% within the region and by 10% in neighboring regions by Q2 2023
When setting goals, you also need to take into account the scope of activity:
market - to increase the company's share in the electric kettle market by 3%;
production - speed up the production of car batteries by 10% and reduce the cost by 7%;
organizational - increase the productivity of managers by automating the generation of invoices for payment;
financial - to ensure growth of profits from the production of steel knives.
Positioning a business in the market
In particular, the brand image and its unique selling proposition (USP) are of great importance when setting prices for products.
When developing a marketing strategy, the owner of the company specifies which characteristics need to be especially emphasized. The cost is also determined in accordance with them.
Entrepreneur Maria sells knitted clothing. Among other things, she sells hats made of natural wool for only 500 rubles.
Positioning a business in the market
Source: shutterstock.com
In her ads, Maria emphasizes that her store is suitable for any customer, regardless of gender, age, or income level.
Both in outdoor advertising and on social networks, clients are spoken of as the closest people.
There is a nearby outlet owned by Maria's competitor. It offers similar products, but at much higher prices. The owner of the business, Elena, draws attention to the premium quality of the products and the quality of the workmanship.
This store is rarely visited by customers, but due to the high prices, a stable income is maintained.
Wealthy people contact Elena, and communication with them is conducted in a businesslike manner to describe the advantages of knitted clothing. The main idea that is supposed to be conveyed is that the store's products are intended for those who value their health.
Communication with target customers should take place through a social network or a thematic website.
This is necessary so that consumers focus on shopping and do not start asking unnecessary questions. Professionals strive to ensure that the promotion plan corresponds to the company's self-presentation.
List of products
To create a strategy, it is necessary to focus on the company's product range. The nature of the products produced affects the segment in which the business is carried out.
You will have to:
analyze demand;
choose a niche;
analyze competitors' products and estimate their cost;
monitor products and divide them into categories;
expand the range;
check its balance.
In the context of continuous transactions, the product range is subject to frequent changes. This nuance should also be reflected in the promotion plan.