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How to create a marketing plan

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Marketing is one of the most crucial components in whether your business succeeds and flourishes or simply fades away. You must have an effective marketing plan, in order for your company to be successful. It is important to note that any successful marketing plan is based on the proper research that will guide you in selecting the tools that will make it the most effective. Here is what you need to know about how to create a marketing plan-

  • Find your niche market-Businesses must understand that they cannot be all things to all people. You must find that niche market of people who are looking for your product or service. Once you find your niche market, then you can focus on getting your target market interested in what you have to offer them. If you use the right marketing you can then attract them to your product or service. Part of determining your niche market, is using market research. You can do this in various ways. Customer surveys and social media sites both allow you to see what customers are looking for. If you take the time to do the right research, you can clearly identify who will be most interested in buying your product or service.
  • Understand the intricacies of a marketing plan-Marketing goes far beyond just choosing a price, for your product, that you think will attract your customers. Marketing experts refer to the 4 P's when they talk about marketing. These "P's" are: product, price, place and promotion. When these factors are used together, you can then position your product, so that it will attract the customers, you are looking for. Because you have taken the time to do your market research, you then understand the demographics of your customers. You can use this information to determine what product they are looking for, what price they will pay, where they will buy your product and the most effective way to promote it. When you use all of these components together you can then create a successful marketing plan that will allow you to place your product, on the market, in the right position, the first time around.
  • Get the timing right-When you are marketing a product, its all about the timing. You need to have a clear understanding of your market, what they looking for and the most likely time that they will be attracted to your produce. You want to focus on sending out your marketing materials, at the right time frame. For example: If you are launching a new product, for the holidays, you want your customers to be aware of it, before the holiday shopping season begins. You want to position the product, so that your customers will be excitedly looking for it, as they go out to shop. This means that any marketing messages must reach them at the right time. You don't want your message to go out to soon, or you risk frustrated customers who can't find your product, and on the same note, you don't want your marketing to go out to late, after customers have finished their holiday shopping.
  • Don't forget your creativity-Marketing is both an art and a science. It is important to be creative in whatever message you are sending your target customers. The reality is that today's consumers are being bombarded with marketing messages. If your marketing is not unusual enough to be noticed (quickly), then there is little chance that your customers will come running to buy your product or service. You must focus on creating a marketing message that is short, concise and can be quickly understood by your target market. There is virtually no limit to the type of marketing tools that you can use to effectively market your product or services. You only need to determine which ones will be the most effective in communicating what you want your customers to know, about your product or service.
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