Whether you work for a Fortune 500 company or own your own small business, your company conducts some form of marketing. Maybe you make t-shirts with your construction companies logo. Maybe you give out pens with your companies name on it. Maybe you make tv and radio commercials to advertise your product. Marketing comes in all shapes and forms and for all types of products and services. If you're marketing your product/service, it's essential that you market in the most effective ways. Here are a few steps to help you analyze your marketing strategy so you can better reach your target audience.
Identify the Issues:
After asking some of the previous questions and evaluating your environments, it is now time to decide your marketing issues. Determine what is hindering your marketing from being successful. This is essential for what you must do next.
Analyze the Internal Environment:
Internal Environment is what you need to analyze next. Do you have a clear mission for your company? Do you have well developed objectives? Are your functional areas working together well? Are your marketing strategies correct to attain your desired objectives?
These are all great questions you need to analyze for the next step.
Make a decision, and make it work:
Now that you've identified your marketing issues, it's time to make decisions about what changes you will implement. Will you give away more free merchandise? Will you develop a more user-friendly website? The choices are up to you. But whatever you choose, make a commitment to stand by your decision and do everything you can to make it succeed.
Analyze the External Environment:
First take a look at the external environment such as the economy, industry, and the current market. These will factor in greatly when determining when and how to market your product. What are the current growth trends? How is technology changing? Who are your primary customers? Continue asking these questions to prepare yourself for needed changes.
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