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Your Market Analysis and Marketing Plan

Your Market Analysis and Marketing Plan. What’s the Difference?. Market Analysis Describes Targets (Who & Why). Marketing Plan Describes Tactics (How). Customers Competition Competitive Advantage Critical Success Factors Critical Risks Potential Sales/Market Share. Product Positioning

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Your Market Analysis and Marketing Plan

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  1. Your Market Analysis and Marketing Plan

  2. What’s the Difference? Market AnalysisDescribes Targets (Who & Why) Marketing PlanDescribes Tactics (How) • Customers • Competition • Competitive Advantage • Critical Success Factors • Critical Risks • Potential Sales/Market Share • Product Positioning • Price • Placement • Promotion • Sales Process • Partnerships

  3. Why Segment the Market? • All firms have limited resources. They can’t be all things to all people. They must decide where to focus their limited time, money and human capital so that they yield the greatest return. • That means identifying “right-sized” pieces of the market to go after.

  4. What Makes a Market Segment Promising? • Measurable: possible to determine size • Significant: large enough to be profitable • Recognizable: distinct enough so that you can identify its members • Compatible: with your venture’s mission, strengths, ability

  5. Ways to Target the Market • Geographic • local, regional, national, international • Demographic • B2C: gender, age, income, education, ethnicity • B2B: revenues, # employees, industry • Psychographic • values, lifestyles, hobbies • Behavioral • benefits sought, usage rate

  6. Tips for Identifying Market Segments • Secondary Research • Databases & Reports • Newspapers & Magazines • Trade publications and Trade shows • Ask • Industry players • Potential customers • Suppliers • Observe

  7. Partial Document Remaining pages are intentionally not presented. They are only available to subscription members in the members private download area

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