You need the building blocks – the what, the who, the when, the where and the how!
1) The What
What are you marketing? Whether its an event, a toothbrush or a haircut, you need to know what it is you are marketing. What sets your product/service apart from the competition? What is your USP? How would you position your product/service in the market? What is the price of your product/service? Does this align with your positioning? Be careful not to price yourself out of the market – be competitive, cover your costs and remember to think about the value your customer attributes to your product/service.
2) The Who
Who are your customers? Who is your product/service for? Go into detail so that you understand your customer. How old are they? Are they male or female? What are their interests?
What are your customers wants or needs? Use this along with your What information to write down the features, advantages and benefits of your product/service. This acts almost like a spellcheck – making sure your product/service is suitable for the Who.
The Who also covers your internal resources – staffing.
3) The When & The Where
What is the distribution plan? Where can the customer get your product/service? When will the product/service be available? How will customers purchase from you?
4) The How
How will you communicate all this to your target customer? What elements of the promotional mix are you planning on using – Advertising, Direct Marketing, PR, Personal Selling or Sales Promotion? Remember to think about your customer and what communication channels they favour. Marketing is not one-size-fits-all.
These four building blocks will ensure your strategy effectively anticipates, identifies and satisfies the needs of your customer!
“Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” –CIM