#3 STEPS OF MARKETING STRATEGY DRIVERS#
It highlights the major obstacles and business drivers and provides the direction necessary to: Next, you need an honest appraisal of your business from an internal perspective.Ī SWOT analysis can be a useful way to assess where you stand in your market relative to competitors. Find out more about researching your market. You can do the research yourself or hire an external agency to carry out the research. qualitative research-using interviews, discussions or focus groups to explore themes in more detail.quantitative research-using questionnaires to get responses from a specific audience and interpreting the data.desktop research-accessing existing information that is readily available online from credible sources.helps you to know more about your customers and the current and future demand for your products and services.involves gathering and analysing information about your customers and industry, such as size, growth and trends.Market research is an essential part of your marketing strategy. Please include it as a link on your website or as a reference in your report, document, or thesis.Start by capturing insights about your industry and customers. (Notice: The School for Champions may earn commissions from book purchases) The following are some resources on this topic. Once you can get them in the showroom, you can convince them to buy.
Finally, you go into action, trying to reach your customers, letting them know about your product and telling how good it is. Then you must make preparations for getting your customers to buy your product, including setting a good price and providing a place for them to buy. The first phase is define your circumstances, such as what your core business is and who your customers are. There are three phases in the marketing process. SellingĬustomers must be able to easily select items and purchase them at the checkout counter. Advertising also should include your address and hours of business. You can advertise in the local newspapers about what you have available, as well as specials you may have. Prominent signs outside your grocer store should attract attention, tell what type of store it is and include hours of business. Sometimes packaging is part of promotion, especially if it draws attention to the product display. You can also promote your store as compared to your competition in advertisements or other means to tell your superior quality and prices. Promotion involves making potential customers aware of what you have to offer and where they can purchase it, as well as how much it costs. This is where you let potential customers know what you have to offer to entice them to shop and buy. Once you have obtained or manufactured your products, you enter the sales phase of marketing. You can then obtain or manufacture the items you want to sell. ( Note: These are three items of the Marketing Mix.
Then you seek to position your new product or service by finding your market The next step is analyzing the competition to determine a the demand for This often is a result of market research, where you study: You get a great idea of a product to sell. This idea usually comes as a result of observation, research, and analysis. In your business, you may get a great idea of a product or service to sell. What is the preparation phase of marketing?.What is the definition phase of marketing?.Preparations include getting an appealing product, setting a good price and providing a place for them to buy.įinally, you go into action, trying to reach your customers, letting them know about your product and telling how good it is. Then you must make preparations for getting your customers to buy your product. To effectively pursue the goal of selling your product, you need to first define your circumstances, such as what your core business is and who your customers are. There are three phases in the marketing process: defining, preparing and selling. Marketing is the business activity that leads a product or service to the paying customer. SfC Home > Business > Marketing > Three Phases of Marketing
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