Creating Marketing Strategies that workCreating Marketing Strategies that work

Isn’t that what you want?

In Creating Marketing Strategies that work, take into account how your business’ strengths and weaknesses will affect your marketing strategy/plan.

Start your marketing strategy document with an honest and rigorous analysis, looking at your strengths, weaknesses, opportunities, and threats. Conduct some market research on your existing customers, and contrast that research analysis to see how it will help you in building a more honest picture of your reputation in the marketplace. Then you will have a more honest foundation for Creating Marketing Strategies that work. Here are just a few bullet points worth notating.

Strengths could include:

  • the special knowledge you have of your products
  • special features or benefits that your product offer
  • personal and flexible customer service
  • Conducting yourself with the utmost Integrity

Weaknesses could include:

  • lack of an established reputation
  • limited financial resources
  • accounting systems could not be efficient enough
  • not diverse enough competitively
  • not enough targeted customers yet

Opportunities could include:

  • increased demand from a particular market sector
  • using the Internet to reach new markets
  • new technologies that allow you to improve product quality
  • Becoming more competitive with the changing trends in the market

Threats could include:

  • the emergence of a new competitor
  • more sophisticated, attractive or cheaper versions of your product or service
  • new legislation increasing your costs
  • a downturn in the economy, reducing overall demand

Once you have done your analysis, you can then more effectively measure the potential effects each element may have on your marketing strategy, thus giving you a better edge with your customers.

For example, if new regulations cause you an increase in cost to compete in the marketplace where you’re already weak, you may want to look for other opportunities. On the other hand, if you have a good reputation and your key competitor is struggling, the regulations might present an opportunity for you to push more aggressively for new customers.

All ABOVE are key in Creating Marketing Strategies that work based on your Strengths and Weaknesses as a company. I believe in the basics of marketing because this is where you will be able to construct your strategies for your marketing plan.

Note:

Again I want to reiterate this notation because I believe it’s a necessary piece of information in the Marketing World to Stay ahead of ALL trends in the marketplace. Especially when you’re trying to become and stay profitable.

I Highly Suggest and Recommend getting this information because it’s easy to utilize, and is Newbie friendly even to those who may not be good with numbers or technically inclined. If you are more Advanced, this information is even more of an advantage because you can always see where you are “Instantaneously” when marketing your products, goods, and services. Staying ahead of the game in this way will keep you more profitable.

Schedule an appointment with David here.

I hope this posting will be a blessing to you and you were able to be reminded of something that you may have forgotten to do when it comes to the basics of doing anything. Sometimes we need to be reminded about the basics. That’s why sometimes go back to the basics because generally, that’s our foundation to success.

blessings,

George

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