Marketing

Marketing

WolfThe aim of marketing is to know and understand the customer so well the product or service fits him and sells itself. Peter F. Drucker

1. Inventory Analysis / Market Research

A significant and much underestimated factor of success is the definition of targeted marketing strategies. The more precise a target group is known the more targeted marketing activities can take place. This saves time and money, which are the most important factors of success.


For the analysis of target groups, in market research various methods are used. Especially in trade, in order to distinguish consumers it will be worked with "living environments" very often

(www.sinus-institut.de/loesungen/sinus-milieus.html )


But also in the B-to-B sector target group differentiation with regard to varying personality traits can be created. These distinctions help to focus more on one target-group and to argue more effectively.


Another approach is to differentiate the existing customer base by their industry, revenue size, range areas – the so-called ABC analysis. After determining the target groups, goals and visions can be defined.

2. Vision / Targets

“Visions are winged plans.“

Hans-Jürgen Quadbeck-Seeger (*29.05.1939); Chemist, inventor and innovator


In the second step a vision for your company will be defined up to a period of 5 years. Here, criteria such as the number of employees, future business areas and customer segments are a consideration. Due to the vision short, medium and long-term goals will be determined and described as detailed as possible.


After the joint vote regarding the time course, these goals will be used as a basis for further work.



3. Strategy

After the objectives have been defined, now the strategic direction can be taken. In this strategy, concrete activities will be defined covering the full marketing mix.



4. Conceptional action plan

Here the communication mix is defined as well as possible pricing and distribution strategies. The targeted product strategy also will be determined.


Now the most desired step is to implement the individual marketing activities, for example the design of a flyer, the creation of a website or other elements.