The marketing mix of the four Ps functions as a guide to help the marketing manager successfully develop a strategy for promoting products and services to customers. Product The concept of product in a marketing plan deals with finding the right product for your target market. The product must be something desired by the intended customer. The target market for your product could also be a very specific combination of these criteria.
You have a product people love and you understand who the people are that love it. Now would be a great time to build a marketing plan.
The plan will change and evolve over time but having a structure helps to make sure that your marketing spend is aligning with your goals without being completely ad-hoc, spray and pray, or flavor of the day.
Good plans should contain the following: Segmentation — At this stage you should understand what segments love you offering and why. This is where you document with as much detail as humanly possible the segments that you are going to target.
Who are the groups, what are their characteristics and how do you identify them.
Competitive Alternatives — This is a documented list of what your customers would consider alternatives to your product or service. The purpose of this section is to help you articulate what really differentiates your offering from others in the space. These are generally macro things and not niggly detailed nuances of features.
Differentiated Points of Value by segment — For each segment, what are the top 3 or 4 differentiators that your offering has versus others. Messaging and Positioning by segment — Working from the previous section create a set of messages for each segment.
For more on this see my post on Crafting Simple Value Statements Marketing Goals and Measures — What are the goals of your marketing plan and what metrics are you tracking that are associated with those goals?
You can tie acquisition to site visits, product signups, email or blog signups, abandon rates, etc. Tactical Plan, Budget, Owners — Based on the above goals and measures this is the set of marketing plans you plan on executing to drive those results and the costs associated with each of those tactics.
The tactics are broken into discreet items of work i. Remember that marketing plans change continuously so you need to make sure that the plan changes to reflect that. Also I always have a set of test tactics running that are essentially trialling new things to see if they meet my ROI goals.
Hey, you made it all the way to the end! You can sign up for email updates, subscribe via RSS or follow me on Twitter.The key elements of any successful marketing plan include the concepts of product, price, place and promotion, also known as the four Ps of marketing.
Advertising and marketing are concepts that many people consider to describe the same thing, selling a product or service to the marketplace. However, they are distinct concepts and understanding the difference is important to ensure you give due.
JBPM is a marketing services agency with simple beliefs: understand, be creative, make it relevant, provide value, work hard, deliver results and real services. Elements are also called pillars of the marketing concept. Marketing concept is based on four elements (over and above the individual elements of the former four concepts), such as: 1.
The key elements of any successful marketing plan include the concepts of product, price, place and promotion, also known as the four Ps of marketing.
Elements are also called pillars of the marketing concept. Marketing concept is based on four elements (over and above the individual elements of the former four concepts.