Market Share Projection Tips For Small Business

8 STEPS FOR THE SUCCESS OF A MARKETING PLAN

The marketing plan is a document in text or presentation format containing all the
market studies carried out by the company. The success of a marketing plan will
depend on the information that can be collected and the use made of it. There are
8 steps that help to get the necessary information and that if carried out in the
correct way will guarantee the success of a marketing plan; these steps are:
1. Explore: Investigate the environment. You need to explore the current
trends of the industry, the future expectations, government involvement,
major changes, technological advancement, among others.
2. Analyze your customers: Your customers will provide the best and most
important information for marketing success; They know better than anyone
that they need and how they want it.
3. Analyze your competitor: Understanding who your competitors are and how
to operate in the market will help you to capture important characteristics
when making decisions.
4. Analyze yourself: At this stage you need to decide what is your budget, how
many man hours can you dedicate to this campaign, whether you have the
capacity to go ATL or not or whether there is a need of price promotions
5. Prepare your marketing plan: At this stage, you decide your long-term and
short-term strategy. Depending on the strategy, you must decide what type
of promotions might be used and also what impact the promotion will have
on the market.
6. Implement: During the implementing, be in touch with the market as well as
the involved people and anticipate any negativities as well as capitalize on
any positives which develop during implementation. However, don't forget to
have a contingency plan.
7. Follow up: Control the reaction of customer behavior after implementing the
marketing plan.
8. 8. Explore other opportunities: It is important that you can diversify your
products; By doing in this way, you will get a better response from your
customers.

These 8 steps ensure that you are covering each and every aspect of your
marketing plan and ensure marketing success, thus creating a well-crafted and
structured plan that is the foundation for any marketing department, but also for the
entire company in general, since the campaigns that are carried out and the
purpose of each one have an impact on all other aspects, not only in the area of
communication and advertising.