Hello

He marketing plan is essential to any successful business. It is the heart of the business, the basis from which all other operational and management plans are derived. Marketing offers you a wealth of information that if applied correctly virtually can ensure your success. An effective marketing plan will certainly boost your sales and increase your profit margins. You must be able to convince customers that you have the best product or service for them at the best possible price. If you cannot convince potential customers of this, then you are wasting your time and money. This is where the marketing plan comes into play, and this is why it is so important. There are numerous advantages you can extract from the marketplace if you know how.

Hi

The information for this article was derived from many sources, including Michael Porter's book Competitive Advantage and the works of Philip Kotler. Concepts addressed include 'generic' strategies and strategies for pricing, distribution, promotion, advertising and market segmentation. Factors such as market penetration, market share, profit margins, budgets, financial analysis, capital investment, government actions, demographic changes, emerging technology and cultural trends are also addressed.

There are two major components to your marketing strategy:

* how your enterprise will address the competitive marketplace
* how you will implement and support your day to day operations.

In today's very competitive marketplace a strategy that insures a consistent approach to offering your product or service in a way that will outsell the competition is critical. However, in concert with defining the marketing strategy you must also have a well defined methodology for the day to day process of implementing it. It is of little value to have a strategy if you lack either the resources or the expertise to implement it.

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Hi

Sales promotions help banks, credit unions and other financial institutions to retain and gain new customers. Some banks even use sales promotion tactics that include paying customers to open a checking or savings account. In 2010, Citibank ran a promotion offering customers up to $100 if they opened a checking account with as little as a $100 deposit and then kept the account open for a minimum of six months. Mortgage companies promote low interest rates to attract residential home loan companies. Heavily used retention and acquisition sales promotion tactics can be highly effective because they provide consumers with a tangible financial incentive to stay where they are or move their accounts.

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Hi

A good marketing plan is really a blueprint for the action that your business needs to take in order to achieve certain goals. It will identify the most cost effective ways of performing certain functions and should show the best way to present your business to your target audience.

A good marketing plan will save you money by cutting out unnecessary expenses while at the same time presenting you with new marketing opportunities. A good plan will work for your business to make sure that what you do fits into your budget and that your marketing drive reaches your target audience.

It will essentially keep all your activities and your budgets on track. If you don't have a good marketing plan it is possible that you are not taking full advantage of all the ways to reach your target audience. This will result in decreased sales.

Thanks

Hi

He marketing plan is essential to any successful business. It is the heart of the business, the basis from which all other operational and management plans are derived. Marketing offers you a wealth of information that if applied correctly virtually can ensure your success. An effective marketing plan will certainly boost your sales and increase your profit margins. You must be able to convince customers that you have the best product or service for them at the best possible price. If you cannot convince potential customers of this, then you are wasting your time and money. This is where the marketing plan comes into play, and this is why it is so important. There are numerous advantages you can extract from the marketplace if you know how.

Thanks

Hi

The information for this article was derived from many sources, including Michael Porter's book Competitive Advantage and the works of Philip Kotler. Concepts addressed include 'generic' strategies and strategies for pricing, distribution, promotion, advertising and market segmentation. Factors such as market penetration, market share, profit margins, budgets, financial analysis, capital investment, government actions, demographic changes, emerging technology and cultural trends are also addressed.

There are two major components to your marketing strategy:

* how your enterprise will address the competitive marketplace
* how you will implement and support your day to day operations.

In today's very competitive marketplace a strategy that insures a consistent approach to offering your product or service in a way that will outsell the competition is critical. However, in concert with defining the marketing strategy you must also have a well defined methodology for the day to day process of implementing it. It is of little value to have a strategy if you lack either the resources or the expertise to implement it.

In the process of creating a marketing strategy you must consider many factors. Of those many factors, some are more important than others. Because each strategy must address some unique considerations, it is not reasonable to identify 'every' important factor at a generic level.

Thanks

Hi
Business Advantages

* identifies needs and wants of consumers
* determines demand for product
* aids in design of products that fulfill consumers needs
* outlines measures for generating the cash for daily operation, to repay debts and to turn a profit
* identifies competitors and analyzes your product's or firm's competitive advantage
* identifies new product areas
* identifies new and/or potential customers
* allows for test to see if strategies are giving the desired results

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Hi
Sales promotions enable companies to stand out in a competitive retail environment. This is done by creating on-shelf differentiation between their products and those of their competitors. Real product differentiation is quite hazy these days due to the convergence of technology.

Since the appeal of retailer products is to a huge extent determined by price, sales promotions enable companies to adjust the retail price of the product for short periods of time and with minimal price difference.

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