APPLIED STRATEGIC MARKETING MODEL

PHASE ONE: Strategic Market Planning

Any successful business venture requires thorough planning. Thorough, however, doesn’t have to mean slow and expensive. To be prudent, your level of planning simply must be commensurate with the level of investment and risk you are undertaking.

Customer and Market Understanding
Do we know who our customers are? Who would we like them to be? What do they value? What products and services do they desire today? What products and services will they desire tomorrow? Can we make money addressing those needs?

Realistic Self-assessment
How well does our company meet customer needs? What are we really good at? Do we have or can we develop the products or services to meet those needs? How satisfied are our customers with our products and services? How competent are our employees?

Competitive Profiling
Where do we stand compared to our competitors in our customers’ eyes? What are our strengths and weaknesses? How can we improve? How can we capitalize on our competitors' weaknesses?

Marketing Plan Development
What goals are we trying to accomplish? What methods and means will we use to achieve them? Who will deliver the work and when? How much will this campaign cost and how will we fund it? How will we measure success?

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