Step 1 - Research
Research is a critical component of developing an effective marketing strategy.
Too many companies base their marketing strategy on just their internal perspective resulting in poor communications with a target market that you do not fully understand.
Taking an outside-in perspective, gives you a realistic view of what your target market really wants and needs.
Specifically it's important to really understand:
The competitive market-place
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What products and services your
competitors offer and at what price?
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How they position themselves. What
positioningstatement they have and
whether they deliver on it?
Your customer's perspective
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Why your customers choose you over your competitors?
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How they found out about your product or service initially?
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What they perceive your strengths to be?
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What they perceive your weaknesses to be?
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How they perceive your position in the market-place.
Your staff's perspective
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What they think you do best?
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What they perceive the organizations strengths to be?
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What they perceive the organizations weaknesses to be?
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What insights they have on how to market the business?
Even a small telephone survey can highlight some key marketing issues and opportunities to assist with developing a strategic plan, and with the research being conducted by an independent organization, you'll get a really clear picture of your competitors, your customers and your staff.
See our latest news section for further reading on how market research can benefit your company.
Tell us about your research needs
or view Step 2, Brand Development