Market or market size refers to the volume created by the potential buyers targeted by a product. Although it may seem like a familiar concept at first glance, it is actually a somewhat abstract notion. This is why a marketing plan must be created and implemented before a product is sold.
Remember, marketing in its simplest form is about creating potential for sales! Doing this in a planned and scientific manner provides an advantage. To make a plan, first, understand your business and product well. Then, define the goals you want to achieve through marketing. Next, conduct a competitive analysis to assess your position.
The most important part is to perform a SWOT analysis based on the information gathered from the above steps. Establish strategies by addressing strengths, weaknesses, opportunities, and threats. Clarify the target audiences for these strategies. Use a customer experience map to empathize with your product. Simply and directly define your unique selling proposition. Finalize the brand elements. Determine your marketing channels and communication methods. Prepare performance indicators that will be measured during the implementation of the plan.
Most importantly, build the right team. Focus on creative, innovative, independent-thinking, and freedom-oriented marketing experts. Your team should also include managers who will excel in execution. Of course, it’s inevitable to prepare an adequate budget for all this. Don’t view this budget as an expense; it’s an investment. Because the return will come back as increased sales.
Neuro-marketing techniques and digital marketing technologies are essential. In this regard, a manager's directive cannot simply be "don't market the product" or "do marketing." With changing human profiles and perceptions in a changing world, not marketing is no longer an option! Even if you don’t want to sell, continuing to market has become essential. To gain and retain customers, maintain the bonding, and ensure a sustainable business, you must market!
Dr. Bilinç Dolmacı
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