marketing plan edit

9 Questions to Ask Yourself While Developing a Marketing Plan

What does it take to develop a marketing plan?

You have got this brilliant idea… Check.

You have assessed your direct and indirect competitors… Check.

You have assessed the market… Check.

One thing is left. What is your marketing plan? Without a market plan, you will find yourself running like a headless chicken reacting to the market. Rather than establishing yourself like a thought leader in your industry.

In today’s article, I am going to share with you a guide of questions and suggestions that you can follow as you plan your 2018 marketing plan.

How often should you do a market plan

It is best to have a grand marketing plan for each financial year. This is a meeting you can hold with all major departments on what you would like to achieve in that year. What are the calendar dates you would like to commemorate?

Is this plan showing a trajectory of growth for your business? Are you taking into consideration all other lessons you have accumulated in the past while creating this marketing plan?

Once you have the main yearly marketing plan and goals of where you want the company to be in a year’s time. It is now time to break down those goals into quarterly then monthly and finally individual daily tasks for all your team members.

If your business has an offline and an online presence, then you will have to create a marketing plan for both your online and offline presence.

What to consider when developing your marketing plan

  • What is the market currently saying about your product or service? The first step one should always take is listen to the market. Especially if you have been in the market for a minute. Do you know how different personas or archetypes of the market are responding to your product. For example, if you consider your business as a restaurant but the market is telling you are more like a snack bar, how are you using that to either amplify your presence as a snack bar in the market or change the perception of your market.

    • How are you using PR to inform the market how your product or service is of benefit to them. In most times than not, if you fail to tell the market you are different from the others in the market… They will form their own conclusions. And in most times than not, they will not side with your product or service. So make sure you refine your marketing message to highlight on how your solution is the cure to all their ailments
    • Pricing. This is one of the most important pillars of coming up with a marketing plan. This will also make your life better with your financial manager. How much money would you project to make for the company by the end of the year. And can you break it per marketing strategy and every 90 days? Knowing this will help you set what kind of offers you would like to have in the course of the year. And who will be getting these offers.

    • This picks up after pricing strategy. Your sales forecast. How much do you see the business making per month. This will help you maintain a buffer in the bank for the low months and the peak months in a year. For example, in most cases, many people do not do a lot of outings to eateries during the first month of the year. But at the end of the month (January), there is usually a Restaurant Festival. How are you going to use this forecast to work out how much it will cost you and how you can make the most of Restaurant Week.
    • Do you have packaged services or products? These are normally addons to the product or service a customer is paying for. For example, when you go to Amazon and purchase a product, such as a camera, Amazon will suggest you to buy the backpack, an SD card, some lights etc. As a customer, you had no plan to purchase these products. But because they have been suggested to you, you will notice their importance and they do add to the product. Also, you get to save a couple extra coins if you purchase them together than individually.

In the last couple of days, we talked about the 3C’s. Today I will start talking about some simple #sellingtips you can use to add value when selling and also some things to consider when #makingsales. *************************************** I worked in one of the major telecom companies in Nigeria for about 8 years. The last couple of years there were spent in the Brand department and we were constantly developing #promos. *************************************** I learnt many things while there and one of the things I learnt was that people love freebies. “Buy one get one free”, “load Xamount get 2Xamount”, “Buy data, get voice calls “. The offers were endless and the #customers kept coming. *************************************** This same method of selling can be applied to anything you are selling. *************************************** When you sell, always look for a way to add an additional benefit no matter how small. It should not always be about “you bought X and you will get X”. You should think instead of “you bought X but I will give you X and Y. *************************************** By doing this, you can differentiate yourself and retain more customers.

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    • Part of marketing is making sure your customers have a happy after effect after interacting with your business. So if you are selling a product, do you offer a warranty? How long is the warranty available? What is offered in the warranty? If the customer will be required to operate the product such as a camera, have you provided a set of instructions on how to assemble, operate and care for the camera?
    • How will you distribute your product?
    • Have you prepared job descriptions for all your employees needed to carry out your marketing plan? Do your employees know what is the main objective? And what they need to work on daily to achieve this goal.

  • Is your style of packaging (the product or service) appealing to the market?

What will you consider for your marketing plan for 2018

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  1. Quality blog brings quality monitoring and changes mind of intelects.A small donation you may be interested.

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