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• margarita giraldo

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Market Share Projection Tips For Small Business

8 STEPS FOR THE SUCCESS OF A MARKETING PLAN The marketing plan is a document in text or presentation format containing all market studies carried out by the company. The success of a marketing plan depend on the information that can be collected and the use made of it. There 8 steps that help to get the necessary information and that if carried out in correct way will guarantee the success of a marketing plan; these steps are:

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1. Explore: Investigate the environment. You need to explore the current trends of the industry, the future expectations, government involvement, major changes, technological advancement, among others. 2. Analyze your customers: Your customers will provide the best and most important information for marketing success; They know better than anyone that they need and how they want it. 3. Analyze your competitor: Understanding who your competitors are and how to operate in the market will help you to capture important characteristics when making decisions. 4. Analyze yourself: At this stage you need to decide what is your budget, how many man hours can you dedicate to this campaign, whether you have the capacity to go ATL or not or whether there is a need of price promotions 5. Prepare your marketing plan: At this stage, you decide your long-term and short-term strategy. Depending on the strategy, you must decide what type of promotions might be used and also what impact the promotion will have on the market. 6. Implement: During the implementing, be in touch with the market as well as the involved people and anticipate any negativities as well as capitalize on any positives which develop during implementation. However, don't forget to have a contingency plan. 7. Follow up: Control the reaction of customer behavior after implementing the marketing plan. 8. 8. Explore other opportunities: It is important that you can diversify your products; By doing in this way, you will get a better response from your customers. These 8 steps ensure that you are covering each and every aspect of your marketing plan and ensure marketing success, thus creating a well-crafted and structured plan that is the foundation for any marketing department, but also for the entire company in general, since the campaigns that are carried out and the purpose of each one have an impact on all other aspects, not only in the area of communication and advertising.