Do you need help…Setting prices…Understanding your customers…Forecasting future orders?
Some people believe Marketing is just about selling, creating promotional material or advertising, but it is far more than that.
Making a product or providing a service is relatively straightforward. The hard part is ensuring that you can offer it to your customers and potential customers at a price they are willing to pay and makes you a profit.
We believe the key to great Marketing Planning is:
- Understand Your Value Chain
- Conduct Robust Market Analysis
- Produce Realistic Forecasts
- Appreciate The Wider Business Context
With extensive experience in this area we know how difficult it can be to do this, especially if this is in addition to your core activities or if you haven’t had sufficient training.
That is why we have developed workshops to give you some real practical help and advice on how to become more confident and proficient when it comes to Marketing Planning.
The Value Chain
- The sequential set of activities (primary & support) that a business performs to turn inputs into value-added outputs for its customers/consumers
- It was developed by Michael E Porter in 1985 (he made his name at the Harvard Business School)
Simply put it means…
- What does it cost to make/provide what your business does and how much to charge for itexisting reports & deliverables
- Deciding what to charge can feel just like throwing a die
Analysis & SWOT
Forecasts & Projections
- They are informed projects
- By definition they are never 100% correct
- They can be volume or financially based
- They can be short, medium or long term
Three basic reasons for forecasts…
- Value Based – what a business has to sell
(to cover its overheads etc.)
- Resource Based – what can the business produce
(usually where output is limited)
- Market Based – what could the business sell
(the most common for established companies)
- Monitoring & acknowledging major trends, events etc. beyond your category which may influence behaviour
- Understanding what may have a direct or indirect impact on what you are trying to do
- Appreciating that you don’t operate in a vacuum
Structured approaches which can help with this…
- PEST – Political, Economic, Social & Technological
- PESTLE – as above but with Legal & Environmental added
- STEEPLED – more recent and includes Ethics & Demographics