Marketing

Marketing is not sales, and it encompasses so much! You may have heard of the 4 Ps of Marketing: Product, Price, Place and Promotion.

• Product: What is your product or service? How is the presented to people? What packaging have you chosen? (Packaging doesn’t have to be physical) How is it presented?
• Price: What is your pricing strategy? Do you have pricing levels? Do you offer discounts?
• Place: Where are you going to sell your products? Where will you market them? Will you use online marketing? Do you have a physical store? Will you be wholesaling?
• Promotion: Where will you advertise? Will you do sales promotions? Will you use organic marketing? Will networking help your business? Where is your target market and how will you reach them?

Sometimes another three Ps are added giving the 7 Ps of Marketing:

• People: This is the staff and people who work for your business (including you), and includes your customer service.
• Process: How will you get your product made consistently? How will you get your product to the customer? If you have a physical product this includes logistics
• Physical Evidence: This is what your customer sees when they are interacting with you, including building (inside and out), packaging, branding,

Business Queensland has a good breakdown on these points on their website.

 

Marketing Plan

A marketing plan will usually include:

• Business Information
• Your goals
• SWOT analysis focused on marketing
• Target market
• Marketing channels – including digital channels
• SMART Goals (Specific, Measurable, Achievable, Relevant, Time-based)

If you are unsure about creating a plan you can talk to a marketing consultant or get training on specific areas you feel you need.

Click here to download a printable pdf of this list.