Marketing outsourcing in pune

marketing planning

Carry out your market research, including competitor activity.

Market information should include anything you need to know in order to formulate strategy and make business decisions. Information is available in the form of statistical economic and demographic data from libraries, research companies and professional associations (the Institute of Directors is excellent if you are a member). This is called secondary research and will require some interpretation or manipulation for your own purposes. Additionally you can carry out your own research through customer feed-back, surveys, questionnaires and focus groups (obtaining indicators to wider views through discussion among a few representative people in a controlled situation). This is called primary research, and is tailored to your precise needs. It requires less manipulation, but all types of research need careful analysis. Be careful when extrapolating or projecting. If the starting point is inaccurate the resulting analysis will not be reliable. The main elements you typically need to understand and quantify are:

customer profile and mix
product mix
demographic issues and trends

future regulatory and legal effects
prices and values, and customer perceptions in these areas
competitor activities
competitor activities
competitor strengths and weaknesses
customer service perceptions, priorities and needs

Primary research is recommended for local and niche services. Keep the subjects simple and the range narrow. Formulate questions that give clear yes or no indicators (i.e. avoid three and five options in multi-choices) always understand how you will analyse and measure the data produced. Try to convert data to numerical format and manipulate on a spreadsheet. Use focus groups for more detailed work. Be wary of using market research organisations as this can become extremely expensive. If you do the most important thing to do is get the brief right.

Establish your corporate aims.

State your business objectives – short, medium and long term.
State your business objectives – short, medium and long term.

State your business objectives – mindful of the trading environment (external factors) and your corporate aims (internal factors). What is the business aiming to do over the next one (short), two-to-three (medium) and four-to-five (long) years? These objectives must be quantified and prioritised wherever possible. You may project your aims or vision for your business further into the future of course, which is feasible for types of business which are reasonable mature, stable and predictable. For such businesses some people might regard four-to-five years as medium term rather than long term. However, life and work and business and the world as whole all change far more quickly and unpredictably than in times past, so in some sectors (notably those seriously dependent upon or affected by modern technology) it’s quite difficult to imagine reliably what your business will need to be like much beyond four or five years. In the modern age it’s not easy, and often is not sensible either, to establish very specific and detailed aims much beyond four-to-five years into the future, especially if your business is in a sector that is prone to external influences.

Define your ‘Mission Statement’.

All the best businesses have a ‘mission statement’, or at least a clear and repeatable description of your businesses purpose, from the standpoint of your products/services in your market. A mission statement announces clearly and succinctly to your staff, shareholders and customers what you are in business to do. Your mission statement may build upon a general ‘service charter’ relevant to your industry, but it must also say what’s special or different about your business. Aiming to be ‘the best’ or ‘the leading’ provider/supplier, etc., in your chosen sector/niche/territory is a good approach to defining a mission statement. Consider what you can be the best at doing for your stated target market or audience. The act of producing and announcing the mission statement is an excellent process for focusing attention on the business’s priorities, and particularly the emphasis on customer service. If your business is modern and good you will be able also to reference your organisational ‘Philosophy’ and set of organisational ‘Values’, both of which are really helpful in providing fundamental referencing or ‘anchoring’ points, by which to clarify aspects of what the organisation or business unit aims to do, what its purpose is, and how the organisation behaves and conducts itself.

You must define clearly what you are providing to your customers in terms of individual products, or more appropriately, services. You should have one for each main area of business activity, or sector that you serve. Under normal circumstances competitive advantage is increased the more you can offer things your competitors cannot. Develop your service offer to emphasise your strengths, which should normally relate to your business objectives, in turn being influenced by corporate aims and market research. The tricky bit is translating your view of these services into an offer that means something to your customer. The definition of your service offer must make sense to your customer in terms that are advantageous and beneficial to the customer, not what is technically good, or scientifically sound. Think about what your service, and the manner by which you deliver it, means to your customer. In the selling profession, this perspective is referred to as translating features into benefits. The easiest way to translate a feature into a benefit is to add the prompt ‘which means that…’. For example, if a strong feature of a business is that it has 24-hour opening , this feature would translate into something like:
You must define clearly what you are providing to your customers in terms of individual products, or more appropriately, services. You should have one for each main area of business activity, or sector that you serve. Under normal circumstances competitive advantage is increased the more you can offer things your competitors cannot. Develop your service offer to emphasise your strengths, which should normally relate to your business objectives, in turn being influenced by corporate aims and market research. The tricky bit is translating your view of these services into an offer that means something to your customer. The definition of your service offer must make sense to your customer in terms that are advantageous and beneficial to the customer, not what is technically good, or scientifically sound. Think about what your service, and the manner by which you deliver it, means to your customer. In the selling profession, this perspective is referred to as translating features into benefits. The easiest way to translate a feature into a benefit is to add the prompt ‘which means that…’. For example, if a strong feature of a business is that it has 24-hour opening , this feature would translate into something like:
You must define clearly what you are providing to your customers in terms of individual products, or more appropriately, services. You should have one for each main area of business activity, or sector that you serve. Under normal circumstances competitive advantage is increased the more you can offer things your competitors cannot. Develop your service offer to emphasise your strengths, which should normally relate to your business objectives, in turn being influenced by corporate aims and market research. The tricky bit is translating your view of these services into an offer that means something to your customer. The definition of your service offer must make sense to your customer in terms that are advantageous and beneficial to the customer, not what is technically good, or scientifically sound. Think about what your service, and the manner by which you deliver it, means to your customer. In the selling profession, this perspective is referred to as translating features into benefits. The easiest way to translate a feature into a benefit is to add the prompt ‘which means that…’. For example, if a strong feature of a business is that it has 24-hour opening , this feature would translate into something like:
You must define clearly what you are providing to your customers in terms of individual products, or more appropriately, services. You should have one for each main area of business activity, or sector that you serve. Under normal circumstances competitive advantage is increased the more you can offer things your competitors cannot. Develop your service offer to emphasise your strengths, which should normally relate to your business objectives, in turn being influenced by corporate aims and market research. The tricky bit is translating your view of these services into an offer that means something to your customer. The definition of your service offer must make sense to your customer in terms that are advantageous and beneficial to the customer, not what is technically good, or scientifically sound. Think about what your service, and the manner by which you deliver it, means to your customer. In the selling profession, this perspective is referred to as translating features into benefits. The easiest way to translate a feature into a benefit is to add the prompt ‘which means that…’. For example, if a strong feature of a business is that it has 24-hour opening , this feature would translate into something like:

“We’re open 24 hours (feature) which means that you can get what you need when you need it – day or night.”

Clearly this offers a significant benefit over competitors who only open 9 – 5.

Your service-offer should be an encapsulation of what you do best, that you want to do more of to meet your business objectives, stated in terms that will make your customers think ‘yes, that means something to me, and my life will be better if I have it.’

Write business plan – include costs, resources and ‘sales’ targets.

Your business plan, which deals with all aspects of the resource and management of the business, will include many decisions and factors fed in from the marketing process. It will state sales and profitability targets by activity. There may also be references to image and reputation, and to public relations. All of these issues require some investment and effort if they are to result in a desired effect, particularly any relating to increasing numbers of customers and revenue growth. You would normally describe and provide financial justification for the means of achieving these things, together with customer satisfaction improvement, in a marketing plan.

Quantify what you need from the market.

Before attending to the detail of how to achieve your marketing aims you need to quantify clearly what they are. How many new customers? Limit of customer losses? Sales values from each sector? Profit margins per service, product, sector? Percentage increase in total sales revenues? Market share required? Improvement in customer satisfaction? Reduction in customer complaints? Response times? Communication times?

Write your marketing plan.

In most types of businesses it is also essential that you include measurable aims concerning customer service and satisfaction.
Your marketing plan is actually a statement, supported by relevant financial data, of how you are going to develop your business.

“What you are going to sell to whom, when and how you are going to sell it, and how much you will sell it for.”

In most types of businesses it is also essential that you include measurable aims concerning customer service and satisfaction.

The marketing plan will have costs that relate to a marketing budget in the business plan. The marketing plan will also have revenue and gross margin/profitability targets that relate to the turnover and profitability in the business plan. The marketing plan will also detail quite specifically those activities, suppliers and staff issues critical to achieving the marketing aims.

Being able to refer to aspects of organisational Philosophy and Values is very helpful in formulating the detail of a marketing plan.

Back to marketing index.

competitor strengths and weaknesses
customer service perceptions, priorities and needs
customer service perceptions, priorities and needs

Primary research is recommended for local and niche services. Keep the subjects simple and the range narrow. Formulate questions that give clear yes or no indicators (i.e. avoid three and five options in multi-choices) always understand how you will analyse and measure the data produced. Try to convert data to numerical format and manipulate on a spreadsheet. Use focus groups for more detailed work. Be wary of using market research organisations as this can become extremely expensive. If you do the most important thing to do is get the brief right.

Establish your corporate aims.

State your business objectives – mindful of the trading environment (external factors) and your corporate aims (internal factors). What is the business aiming to do over the next one (short), two-to-three (medium) and four-to-five (long) years? These objectives must be quantified and prioritised wherever possible. You may project your aims or vision for your business further into the future of course, which is feasible for types of business which are reasonable mature, stable and predictable. For such businesses some people might regard four-to-five years as medium term rather than long term. However, life and work and business and the world as whole all change far more quickly and unpredictably than in times past, so in some sectors (notably those seriously dependent upon or affected by modern technology) it’s quite difficult to imagine reliably what your business will need to be like much beyond four or five years. In the modern age it’s not easy, and often is not sensible either, to establish very specific and detailed aims much beyond four-to-five years into the future, especially if your business is in a sector that is prone to external influences.
State your business objectives – mindful of the trading environment (external factors) and your corporate aims (internal factors). What is the business aiming to do over the next one (short), two-to-three (medium) and four-to-five (long) years? These objectives must be quantified and prioritised wherever possible. You may project your aims or vision for your business further into the future of course, which is feasible for types of business which are reasonable mature, stable and predictable. For such businesses some people might regard four-to-five years as medium term rather than long term. However, life and work and business and the world as whole all change far more quickly and unpredictably than in times past, so in some sectors (notably those seriously dependent upon or affected by modern technology) it’s quite difficult to imagine reliably what your business will need to be like much beyond four or five years. In the modern age it’s not easy, and often is not sensible either, to establish very specific and detailed aims much beyond four-to-five years into the future, especially if your business is in a sector that is prone to external influences.

Define your ‘Mission Statement’.

All the best businesses have a ‘mission statement’, or at least a clear and repeatable description of your businesses purpose, from the standpoint of your products/services in your market. A mission statement announces clearly and succinctly to your staff, shareholders and customers what you are in business to do. Your mission statement may build upon a general ‘service charter’ relevant to your industry, but it must also say what’s special or different about your business. Aiming to be ‘the best’ or ‘the leading’ provider/supplier, etc., in your chosen sector/niche/territory is a good approach to defining a mission statement. Consider what you can be the best at doing for your stated target market or audience. The act of producing and announcing the mission statement is an excellent process for focusing attention on the business’s priorities, and particularly the emphasis on customer service. If your business is modern and good you will be able also to reference your organisational ‘Philosophy’ and set of organisational ‘Values’, both of which are really helpful in providing fundamental referencing or ‘anchoring’ points, by which to clarify aspects of what the organisation or business unit aims to do, what its purpose is, and how the organisation behaves and conducts itself.

“We’re open 24 hours (feature) which means that you can get what you need when you need it – day or night.”
“We’re open 24 hours (feature) which means that you can get what you need when you need it – day or night.”

Clearly this offers a significant benefit over competitors who only open 9 – 5.

Your service-offer should be an encapsulation of what you do best, that you want to do more of to meet your business objectives, stated in terms that will make your customers think ‘yes, that means something to me, and my life will be better if I have it.’

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