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Showing posts from October, 2013

Developing a Successful Marketing Strategy

Set an Objective
The marketing effort begins with an objective. This objective can be to create a new business to serve a specific market, launch a new product for an existing business, develop a new market with existing products and so on.
After establishing the objective it is important to take a hard look at the business you are in or are hoping to start. This exercise will help to better understand your current position in the industry and possible avenues for growth. For example, if owning a cup cake specialty shop, you should determine if you are in the cup cake business, confectionary business, restaurant business, or bakery business and so on.The choice will affect the strategy that might be employed to achieve the objective.
Identify a Customer Base Also considering the business, it is important to identify the potential customer base (key customers) you will be serving and your business capabilities. For example if you are entering an established market but have limited resou…