Marketing Plan & Strategy
Developing a Marketing Strategy for your Business
Developing a marketing strategy is key to understanding your target audience, the benefits your business can offer and how you fare against the competition. You’ll need to create a marketing plan too, to show your business objectives and how you intend to reach them.
Worcestershire Business Central can direct you towards help to get you through the planning and strategy stage of running your business, so whether you are starting up or need to review your current situation and plan a new way forward, our team are here to help on 01905 677 888.
Marketing Plan Ideas
Some of the factors you’ll need to think about when devising your marketing plan include:
Your product or service – consider the purpose of your product or service, what problems can it solve and how is it different from the competition.
Your business – look internally and assess your strengths and weaknesses to see what you can change to improve your chances of meeting your objectives.
The marketplace – consider who your ideal customers are, how many groups are within this target audience and how they might use your product or service differently. You may also need to think about whether demand for your product or service is growing or shrinking and what might be on the horizon for companies in your industry.
Your competitors – market research (link to research your market page) will help you better understand your target market and competitors, for example what advantages your product or service has over your competitors, what marketing strategies they use and how your prices compare to the competition.
Need more information?
If you’re ready to tackle your marketing strategy call the Worcestershire Business Central team for advice.