Action Plan What are you doing, when, and who is Building Business responsible? Success Your Integrated Business Plan Marketing Contents How do I do this? Subject Mission What will your mission statement be? Start with a brainstorm of everything you want to be, Statement and then refine your thinking into something sharper! Market Undertake comprehensive market research on Research! Get on the hunt for your company’s position within the some data. Start with the Research marketplace: internet visit the Australian – Who are you selling to? Bureau of Stats to learn What are they buying? about demographics, visit Why will they be buying from you? business sites and news Are there trends in your market? outlets to learn about trends. What can I learn from what is Then speak to people (your happening interstate or overseas? customers) to learn about Who are my competitors? them! What is your How will you defeat your competitors? Based on your business scope Why can’t another replicate what you have? and your market research, Competitive make a short argument as to Advantage? what you have that others do not. Challenge yourself! Market Based on your identified Competitive Pan for gold in this process! Advantage, how are you going to further The more specific you can be, Segmentation segment your market to make sure you are the better you will be able to targeting people with something compelling? meet your audience: for Consider: instance, customer is “my Demographic variables aged between 25-40, they are Patterns of behaviour and loyalty owner occupiers, they are The perceived benefit of your loyal to me, they have cash to product/service for your customer burn and they understand How all of this separates you from the get what you pay for’”. ‘you next agency down the road. Brand What is your organisation’s brand promise? Branding is all about making How does the definition of your brand support your product/service meet Positioning the identity of your customer? with your customer can – they find a connection? Plot yourself on a perceptual map against competitors to add depth to your brand. Marketing Mix Time to bring your product or service to market! Don’t just think advertising! How will you reach your audience? How does your pricing Product, price, place, promotion strategy support your brand? People, process, physical evidence What will your service-scape
Action Plan What are you doing, when, and who is responsible? Building Business Success Your Integrated Business Plan Marketing Subject Contents How do I do this? Mission Statement What will your mission statement be? Start with a brainstorm of everything you want to be, and then refine your thinking into something sharper! Market Research Undertake comprehensive market research on your company’s position within the marketplace: Who are you selling to? What are they buying? Why will they be buying from you? Are there trends in your market? What can I learn from what is happening interstate or overseas? Who are my competitors? Research! Get on the hunt for some data. Start with the internet – visit the Australian Bureau of Stats to learn about demographics, visit business sites and news outlets to learn about trends. Then speak to people (your customers) to learn about them! What is your Competitive Advantage? How will you defeat your competitors? Why can’t another replicate what you have? Based on your business scope and your market research, make a short argument as to what you have that others do not. Challenge yourself! Market Segmentation Based on your identified Competitive Advantage, how are you going to further segment your market to make sure you are targeting people with something compelling? Consider: Demographic variables Patterns of behaviour and loyalty The perceived benefit of your product/service for your customer How all of this separates you from the next agency down the road. Pan for gold in this process! The more specific you can be, the better you will be able to meet your audience: for instance, “my customer is aged between 25-40, they are owner occupiers, they are loyal to me, they have cash to burn and they understand ‘you get what you pay for’”. Brand Positioning What is your organisation’s brand promise? How does the definition of your brand support the identity of your customer? Branding is all about making your product/service meet with your customer – can they find a connection? Plot yourself on a perceptual map against competitors to add depth to your brand. Marketing Mix Time to bring your product or service to market! How will you reach your audience? Product, price, place, promotion People, process, physical evidence Don’t just think advertising! How does your pricing strategy support your brand? What will your service-scape
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