Marketing plan is an important part of the development strategy of any project or a larger business plan of the company.
SWOT analysis helps to identify the current status of the organization and gives a picture of the strengths, weaknesses, opportunities and threats to its development.
Marketing strategy involves actions based on the expectations of the target audience. But there is another option - marketing strategy that starts from the actions of competitors and the leaders of your market segment. So did marketers in the company of Panasonic – they identified market leaders and have begun to develop products based on their actions.
Today we talk about such a popular today – theory of chaos. Marketing management and especially the launch of new projects to the market cannot be done without taking into attention the basic principles of the theory of chaos. Want to know why?
If you do not have enough money for a large-scale market analysis involving army of interviewers and analysts, try it using focus groups - that is what you need.
Speaking of sales strategy, it is impossible to ignore the mistaken but usual situation – to excuse overprice with high quality of the product. First, let's look back and remember what the sale price of any product consists of.
There is no secret that market research cost a fortune. At the same time, the data obtained from interviews often contains errors (incorrectly authored questions, inability to obtain unambiguous answers), and therefore do not always reflect the true opinions of the target audience about your product. The cost of market research for commercial companies can be of seven-digit numbers.
"I need an experienced professional in the field of marketing (sales/design/finance), but I can’t afford to pay one. So I took a newbie: he has little experience, but costs much cheaper than I would pay for an experienced one" – such statements can be often heard in conversations with entrepreneurs.
During completing market analysis marketing manager often faces mean information overload. Many of us used to read huge marketing reports consist of 300+ pages, where really useful information were hardly 10% of the total volume.
To launch a new product, it is important that it comes to the right segment, the right price and the consumer. Otherwise, you take a risk not to get the desired level of sales, and your product will be crushed by competitors.