1.00 Indian rupee ₹ Main components of marketing plan Mumbai

Published date: October 24, 2020
Views: 3
  • Location: Mumbai, Mumbai, Maharashtra, India

Main components of marketing plan
A marketing plan is very important step towards creating a successful marketing program for your industry. It should not be complicated your marketing plan should be easy to understand and easy to work. Here are main components of a marketing plan. (BBGV241020)
• Market Research: Gather, arrange, and note down down data about the market that is presently buying the products or service which you are going to sell. Some of the area which you should consider is Market dynamics, market patterns including seasonality Customers demographics, market segment, buying decisions what is the product competition and what are current sales in the industry ,benchmark in the industry and also about the suppliers on which you will depend.
• Find your Target Market: find niche or target market and describe about your product or services it very important that you select your target market perfectly and you should also be aware of your product and who will be your client base in future.
• Describe your product: explain about your product and also explain how your product realties with the market, also explain what market needs and what currently they are using and what they need and what they can utilize in upcoming time means what better product can be in future what they are utilizing at current time.
• Competition: Explain your competition. Grow your "unique selling proposition." That will make you stand apart from your rival and you also should have knowledge what is your competitor doing for branding.
• Market Strategies: write the marketing strategies you are using or you consider utilizing in upcoming future like networking, advertising means you can promte your product in print media, conduct traning programs which will help to create awareness about your product and you can also promote product in trade shows.
• Pricing, Positioning and Branding: once the information collect plan strategies what will be the price of your product where your product will stand in market and how you will improve the brand and create brand awareness about your product in the market.
• Budget: Look at your budget how much expanses you can afford and what you to plan according to budget what task you can do inhouse and what you have to outsource and what budget you have according you have to plan so budget plan is important part of marketing plan.
• Marketing Goals: establish marketing goals in quantity means you goals should be in numbers For example; your goals may be to increase at least 40 new clients or to sell 20 products every week, or to raise your income by 40% in this year. You goals can also include profit, sales and customers satisfaction.
• Watch Your Results: Analyze your strategies that are working for you and where you lack which can be improved or where your strategies are not working, survey customers have a watch on your sales also have look at leads and what percent your sells is increase and if there is decrees try to find reason and what improvement you can do .
All these mentiuoned component are important as these component help you to stand develop and become successful in market you can say if you have proper marketing plan it makes you successful business man

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