| |
| |
|
Marketing Resource Center |
|
|
|
Want to Increase Your Business? First You Need to Understand where You are at!
Are you having trouble understanding basic situational marekting concepts? Then this article is for you. Alex Margarit shows you a simple step by step way on how to put together a basic situational analysis. Before developing any given marketing strategy it is important to conduct some form of analysis. This should form an essential part of any business or marketing plan and should be reviewed over time to ensure that it is kept current. Many of my clients often ask me what factors are important when doing this. The following is just a raw marketing 101 introduction to what to take into account when conducting an analysis and provides a checklist if you will of the most important factors to take into account. The elements worth considering include: Product Situation What is my current product? You may want to break this definition up into parts such as the core product and any secondary or supporting services or products that also make up what you sell. It is important to observe this in terms of its different parts in order to be able to relate this back to core client needs. Feel free to also discuss here which of your client's needs your product is meeting. Competitive situation Analyze your main competitors - who are they what are they up to - how do they compare - feature/ benefit analysis. What are their competitive advantages? Distribution Situation Review your distribution Situation - how are you getting your product to market? Do you need to go through distributors or other intermediaries? Environmental factors What external and internal environmental factors are there that need to be taken into account. This can include economic or sociological factors that impact on your performance. Opportunity and issue analysis Which requires conduction a SWOT analysis (Strengths, Weaknesses, Opportunity and Threats). Things to write down her are what current opportunities that are available in the market, the main threats that business is facing and may face in the future, the strengths that the business can rely on and any weaknesses that may effect the business performance. I know for most of you marketing gurus this may be simple knowledge however it is important to realise that sometimes even the smartest forget the core fundamentals. Last Updated ( Monday, 08 August 2005 ) Alex Margarit is an Internet Marketing professional based in Brisbane, Australia. He has written a number of published works on Marketing.
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
How to Win a Price War Any economics student can tell you that price is a matter of supply and demand. The market will bear a certain price point and settle into equilibrium. 20 Tricks to Help Get That Envelope Opened When your envelopes aren't opened, you can't make money! Beforeyou can get an order, the recipient of your mailing package mustfirst open the envelope. Unfortunately, many recipients ofdirect mail simply discard the material without opening theenvelope. You're In Charge. Now What? For years now, you have been waiting patiently for that first opportunity to be put in charge of a group and show what you can do. It has finally happened. Six Ways To Attract New Customers To Your Restaurant Without new business, your restaurant won't be able to grow. You need a constant stream of new customers to replace those you lose as a result of customers relocating, switching jobs, or changing dining habits. How Simple, Small Changes Can Add Real Money To Your Pocket I want to share with you a story. This story happens everywhere and everyday in America . Write Effective Fundraising Letters By Being Conversational (Includes Examples & Samples) I am doing what you do, sitting at my computer, trying to get my thoughts out of my head and into a written form that will help you make a decision. In this particular case, I am trying to write a few intelligent remarks about sounding conversational on paper. Improving Lead Generating and Conversation Rates: Think Like a Farmer John's a freelance photographer in Ohio who called to tell me of his frustration with the advertising and promotional campaigns he has tried in the last couple of years. Each time he does a promotional mailing to his list of 10,000, he is lucky if he gets one or two inquiries. How to Conduct a Successful Fax Marketing Campaign 1. Focus your fax marketing on one objectiveFax is a flexible medium, and is being used by Adestra clients to sell off-the-page, to conduct research, for broadcasting newsletters, for generating prospects and for database cleaning. Creating Your Unique Selling Proposition or USP Creating Your Unique Selling Proposition"Don't tell them what you do. Tell them what you do for them. The Fundraising Letter PS: 25 Powerful Things To Say There (Includes Examples & Samples) Donors read postscripts. This is a sad but important reality in fundraising. Mortgage Originator Marketing - Differentiate or Die One of the best ways to attract more clients is to quit marketing the same way your competitors do. Because when all mortgage originator marketing is essentially the same, it becomes nearly impossible to distinguish one loan officer from another. Sales Resistance on the Rise Have you noticed it? More and more marketing campaigns are going over the top. They're trying bolder, more in-your-face tactics. A Seven Letter Word That Helped a 3 Month Marketing Newbie to Online Success Who would have thought that a three month newbie and marketing dummy with no list, no product, no contacts, can actually make money online? Me neither.I had no idea what to do, how to do or why. In Sickness And In Health I recently drove by a business that had a sign out front that read "Closed due to illness". This meant that the cash flow would stop until the owner was able to return to work. Make Out Marketing What is the single biggest fear of teenagers, business owners and CEO's alike?The answer is simple. Making out for the first time, with an attractive partner or customer you really want to be with. Do You Make These 5 Common Marketing Mistakes? The famous P.T Barnum once said, "Without promotion, something terrible happens, NOTHING!" And marketing (or promotion) is all about combating that dreaded 'nothingness'. Marketing on a Budget A successful marketing plan doesn't have to include an athletic superstar, prime-time placement, state-of-the-art computer graphics or a massive budget. Being resourceful and smart can be just as effective. Target Marketing: The Bell Curve Finally, Something You Learned In Math ClassMakes Sense In Real Life.Okay, here's the day you've been waiting for since 9th grade: today's the day you're going to find out what some of that funky stuff you learned in math class has to do with anything. Are We There Yet? Small business marketing is not like taking a family vacation.Did anybody take a family vacation this summer? Do you have children of your own, or do you remember what it was like when you were a kid taking a trip somewhere?I can still remember the family vacations as a youngster growing up. Get Personal: Letters vs. Direct Mail One of the reasons direct mail works is the personal aspect. It's ostensibly a letter from you to your prospect.
|
| home | site map | Advertising Articles |
| © 2006 |
