A definition for marketing, in the broadest sense, is that marketing is a set of activities all designed to lead to increased sales of a product or service.
These activities must bring attention to the product or service, motivate buyers to consider it, buy it, and hopefully buy it again.
The best way to create a "Marketing Plan" is to put ideas down on paper first.
Brainstorm all possibilities, write them down, then reorganize the ideas following a common map for general marketing.
Proving the marketing plan works can be verified by increased sales.
That is the true test.
A definition for marketing is very different than those for advertising, promotion, public relations, publicity and sales.
Those terms actually are all included within the realm of marketing.
Marketing is much broader, like a map compared to the cities on the map.
Increased sales would be the final destination on that map.
Marketing usually refers to efforts to sell one product or service, but it could encompass several.
It focuses on one product or service, how to promote that item, how to distribute or sell that item, and finally, how to maintain an ongoing relationship with buyers of that item.
Marketing begins with basic research on the product or service, looking at existing and developing competition, and targets (audience) for this item.
The middle efforts of marketing will lay out plans on how to advertise, promote, publicize and sell it.
Finally, complete marketing will set objectives for successful sales, and a budget for the entire process.
Marketing does not end with the budget.
Rather, it is an ongoing process.
There is a simple code that refers to this: the 4 Ps (Product, Price, Placement, and Promotion).
Marketing and the plan for accomplishing it can be done either in-house or sourced out to another agency.
Research is important to setting the final price of the product or service.
It is necessary to know the benefits of the item in relation to customer value.
If the customer does not perceive anticipated value for benefits expected related to price, they will not purchase.
In shorthand, this is expressed as: Value = Benefits/Price.
(V=B/P) Here is an outline of points that together would encompass a definition of marketing: Summary of objective and item Goals for this plan Competitive analysis - of company, customers, competitors, support personnel and companies, current business climate and future expectations Target market (description of target audience, sales percentages desired, comparative product pricing) Other marketing strategies that may apply Rationale for chosen strategy Product description and price point Distribution (placement) Promotion (advertising, public relations, media) Projections for sales (long and short term) and method to quantify sales Conclusion - why this plan will work Exhibits - any sample charts, ads, statistics pertinent to product or service In summary, "marketing" is a product or service "map".
Increased sales is the destination.
The best way to reach that destination is to follow a map.
A Marketing Plan creates the map that allows marketing to work.
These activities must bring attention to the product or service, motivate buyers to consider it, buy it, and hopefully buy it again.
The best way to create a "Marketing Plan" is to put ideas down on paper first.
Brainstorm all possibilities, write them down, then reorganize the ideas following a common map for general marketing.
Proving the marketing plan works can be verified by increased sales.
That is the true test.
A definition for marketing is very different than those for advertising, promotion, public relations, publicity and sales.
Those terms actually are all included within the realm of marketing.
Marketing is much broader, like a map compared to the cities on the map.
Increased sales would be the final destination on that map.
Marketing usually refers to efforts to sell one product or service, but it could encompass several.
It focuses on one product or service, how to promote that item, how to distribute or sell that item, and finally, how to maintain an ongoing relationship with buyers of that item.
Marketing begins with basic research on the product or service, looking at existing and developing competition, and targets (audience) for this item.
The middle efforts of marketing will lay out plans on how to advertise, promote, publicize and sell it.
Finally, complete marketing will set objectives for successful sales, and a budget for the entire process.
Marketing does not end with the budget.
Rather, it is an ongoing process.
There is a simple code that refers to this: the 4 Ps (Product, Price, Placement, and Promotion).
Marketing and the plan for accomplishing it can be done either in-house or sourced out to another agency.
Research is important to setting the final price of the product or service.
It is necessary to know the benefits of the item in relation to customer value.
If the customer does not perceive anticipated value for benefits expected related to price, they will not purchase.
In shorthand, this is expressed as: Value = Benefits/Price.
(V=B/P) Here is an outline of points that together would encompass a definition of marketing: Summary of objective and item Goals for this plan Competitive analysis - of company, customers, competitors, support personnel and companies, current business climate and future expectations Target market (description of target audience, sales percentages desired, comparative product pricing) Other marketing strategies that may apply Rationale for chosen strategy Product description and price point Distribution (placement) Promotion (advertising, public relations, media) Projections for sales (long and short term) and method to quantify sales Conclusion - why this plan will work Exhibits - any sample charts, ads, statistics pertinent to product or service In summary, "marketing" is a product or service "map".
Increased sales is the destination.
The best way to reach that destination is to follow a map.
A Marketing Plan creates the map that allows marketing to work.
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