The third element of the marketing mix is promotion. We will explore in this article how the promotion strategy contributes to attaining your marketing objectives. What is promotion? Promotion is any form of marketing communication used to inform or influence a target audience or market. The subject of a promotion may be a…
Marketing Plan Series (Part 2 of 7): The Pricing Strategy
The second element of the marketing mix is pricing. We stated last week the marketing objectives for the proposed business. We will discuss in this article the pricing strategy that can contribute to attaining those objectives. Pricing strategy considerations Businesses have to maximize profits as best as they could. This responsibility falls largely…
Marketing Plan Series (Part 1 of 7): The Product Strategy
We are starting the marketing plan series with a discussion of the product strategy. We will identify the essential elements of a product strategy and the various tactics we can use in the execution of the product strategy for our furniture marketing business. The marketing objectives We commence by re-stating the marketing objectives…
Your Marketing Plan: The Series
Following the widely read series on crafting your own marketing strategy (from February 11 to March 18, 2018), I am coming up with a new series of articles that will discuss the fundamentals of a marketing plan. What is a marketing plan? A marketing plan is a comprehensive document, founded on a solid marketing…
An Effective Content Marketing Strategy for Small Businesses
Last week, we looked at content marketing from a straightforward perspective. Now, I would like to use again a simple viewpoint in discussing a content marketing strategy I find effective for small businesses. Components of a content marketing strategy A simple content marketing strategy includes the following: Objectives Topics of interest…
Understanding Content Marketing for Small Businesses
I would like to view content marketing from the vantage point of small business owners and aspiring entrepreneurs particularly those who are not yet familiar or have not used yet this marketing approach. Let us discuss some basic facts about content marketing. Who uses content marketing Many small businessmen tend to believe…
Your Marketing Strategy (Part 5 of 5): Resources
Click to view animation: http://www.powtoon.com/embed/fvB0Mb5jqqo/ Here is the last part of our short series on preparing your own marketing strategy and this is about resources. In Part 4 of this series, we mentioned that you need resources to successfully implement your marketing strategy. What are business resources Business resources are assets and services…
Your Marketing Strategy (Part 4 of 5): The Strategy
Click to view animation: http://www.powtoon.com/embed/fvB0Mb5jqqo/ Our penultimate topic in this short series is the strategy itself. We are discussing here the marketing strategies we will pursue based on the objectives we have selected and the information we have gathered, analyzed, and studied about our target market, competition, and your proposed company. What is…
Your Marketing Strategy (Part 3 of 5): Organizational Analysis
Click to view animation: http://www.powtoon.com/embed/fvB0Mb5jqqo/ Let us take a look at your proposed company’s capabilities and what your competitors have. Part 3 of our series discusses organizational analysis. What is organizational analysis It is the process of examining the internal structure, processes, and resources of a business particularly its internal strengths and weaknesses…
Your Marketing Strategy (Part 2 of 5): Market Analysis
Click to view animation: http://www.powtoon.com/embed/fvB0Mb5jqqo/ Our topic for this article is market analysis. This is Part 2 of 5 of our ongoing series on preparing your own marketing strategy. Again, we will use the proposed furniture marketing business in discussing market analysis. What is market analysis Market analysis is the study of the quantitative…
