MARKETING MODEL FOR BUSINESS

1. SELF-ASSESSMENT

2. MARKETING PLAN DEVELOPMENT

3. SEGMENTATION (TARGET MARKET)

4. POSITIONING (BRAND RECOGNITION)

Marketing Mix: PRODUCT + PRICE + PLACEMENT + PROMOTION + PERSUASION

5. TEST & EVALUATE

6. REFINEMENT

To use marketing concepts effectively, the following steps are required:
• Analyze your firm’s competitive advantage. What do you do best?
• Identify specific markets you serve currently.
• Determine needs and wants of present customers.
• Determine how to satisfy needs and wants.
• Prepare a Marketing Plan that allows you to reach out to “new” customers and / or sell more to existing customers.
• Test the results to see if new strategies are yielding desired results.

A good marketing plan must compliment the overall business plan. Neither one will work without the other. Sales and Business Development are different activities. They are, however, components of the Marketing Mix. Understanding this distinction is vital in ensuring activities are performed to achieve successful results that are aligned with company goals outlined in the business plan.

Sound management procedures are also vital in providing leadership to ensure staff employees are working toward meeting company objectives. All managerial functions must employ the following stages continually in any defined leadership role:
• Planning
• Organizing
• Staffing
• Directing
• Controlling