Write a marketing plan

Once you have decided what your marketing objectives are, and your strategy for meeting them, you need to plan how you will make the strategy a reality.

Many businesses find it helpful to think in terms of the four Ps:

• Product
  What your product offers that your customers value, and whether/how you should change your product to meet customer needs.
• Pricing
  For example, you might aim simply to match the competition, or charge a premium price for a quality product and service. You might have to choose either to make relatively few high margin sales, or sell more but with lower unit profits. Remember that some customers may ask for a low price to meet their budgets, while others may view a low price as an indication of quality levels.
• Place
  How and where you sell. This may include using different distribution channels. For example, you might sell over the internet or sell through retailers.
• Promotion
  How you reach your customers and potential customers. For example, you might use advertising, PR, direct mail and personal selling.

For a more comprehensive approach, you can extend this to seven Ps:

• People
  For example, you need to ensure that your employees have the right training.
• Processes
  The right processes will ensure that you offer a consistent service that suits your customers.
• Physical evidence
  The appearance of your employees and premises can affect how customers see your business. Even the quality of paperwork, such as invoices, makes a difference.