- Marketing planning requires self-reflexive analysis to better serve your customers.marketing image by dead_account from Fotolia.com
Strategic marketing, or marketing planning, is an essential task that must be continually undertaken. According to Quickmba.com, marketing planning starts with a brief description of product to be marketed and associated goals, such as sales figures and strategic goals. With shifting market conditions, including competitive threats, changes in demand or the advent of new opportunities, strategic marketing plans require a fluid perspective on the surrounding environment. - Just as changes in your company are a daily occurrence, so are changes with your competitors. When starting your business, hire a competitive intelligence agency to analyze the operations, marketing strategies, pricing and market share of your competitors. Understanding how their product/service differs from your own and positioning yourself to stand out against the marketplace. What are your competitors strengths/weaknesses? Take time to research, analyze and translate your findings so that they become useful tools for increasing market share.
- Customers evolve with changing economic conditions, supply, demand and with the introduction of new technologies. Assess the needs and concerns of your customers through anonymous surveys. Surveys allow you to add needed demographics information to your marketing plan and understand the customer's values. Don't forget to ask customers about areas where your company can improve. Most likely, your customers are familiar with your competitors and can give honest feedback regarding how you can increase or maintain your market share.
- Plan for changes in legislation or economic policy that affect your business. For example, in the case of international business, political unrest could result in tighter government restraints that result in a significant decline in profits. Research political candidates and their views on local legislation. Determine how your customers' values fit the leading candidate's political platform. Plan how you can align yourself with the values of your market by addressing their pessimism or optimism regarding the coming political environment through your product/service.
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