Marketing & Advertising

Key items to consider

• When we buy a product we want to know what is in it for us.
• There are only two reasons why we buy. The service or product needs to;
1. Help solve a problem or,
2. Make us feel good.
• When you sell on price you die on price. Sell based on a better product, better service, a better warranty etc.
• Ask yourself ?Why should a customer purchase from me for the rest of their life?
• We are exposed to approximately 800 advertisements per day.
• The majority of these advertisements do not sell the benefit(s) of a business' product(s) or service(s).
• What is your plan to market your product?
• Will having a web site for your business help your advertising? Sales?
• How will you get your product (distribute) to the customer?
• Provide details on how your advertising dollars will be spent.
• Remember to be consistent with all advertising. Use a common logo, similar print style and identical colours on all advertising whether it is business cards, stationery, flyers, newspaper ads, car door signs, exterior signs etc. Customers will recognise your company even if they only briefly glance at the particular advertisement.
• Always remember to state the benefit(s) gained by your customer in the advertisement.

Sales Strategy

• While typical business planning includes considerable market research and allocation of resources to advertising it is assumed that if everything is planned sales will just happen. This does not usually happen and in many cases is the downfall of the business.
• Who will be responsible for the day to day job of selling the business and its products and/or services? If it is management, do you have the necessary experience? If not, how will you get the necessary training?
• If sales will be handled by staff what is the hiring plan?
• The best case scenario is for management to be involved in sales. Customers like dealing with small business because they have access to management.

Purchase Process and Buying Criteria

• From the marketing survey, information regarding the importance in the buying decision of items such as price, quality and service support will be tabulated. Briefly discuss how the purchase process and buying criteria may vary by each of the market segments or product segments.

Analysis of Competitive Position

• In what ways will you have an advantage over your competitors and in what ways will you be at a competitive disadvantage?
• In which market segments and product segments will you have the greatest competitive advantage?

Distribution Strategy

• How will you distribute your products and/or services to your target markets?
• Where will your customers be able to buy your product and/or service?
• How will you provide customer service and after sales support?

What Advantage Do You Offer?

"Think like a customer" when you look at your product/service. What do they see?

• What is your primary product/service?
• What are your other products/services?
• What makes your product/services/unique?
• Who is your customer?
• Why do they need your product/services?
• What needs are you satisfying?

Competitive Analysis

Look at similar or competitive products/services to yours. Look at the following categories and rate your product/service. This is also a good time to talk to the sales people. This matrix will enable you to see areas where you are strong and the areas that need attention. Do one analysis per competitor.