As a small business owner, it becomes important to correctly lay out all the steps involved in marketing process for your products.
Pre-plan stage – you conduct market research to know about consumer behavior and market dynamics in addition to distribution network and communication space. Market research throws many ideas and one zooms in on the available segments that can prove to be lucrative.
Planning stage – here is the first step of planning for your product in the market place. This includes designing the product and creating positioning statements along with branding strategy. If the budget allows, it is always advisable to work in tandem with the advertising agency or consultant.
Organizing – organizing includes money, manpower and management system. Once money is received, key appointments take place and the work is ready to be launched.
Monitoring – monitoring involves observing deviations from the plan, and taking corresponding corrective actions.« Return to all articles