Join Drew Boyd for an in-depth discussion in this video Analyzing your market, part of Marketing Foundations.
…Analyzing a market means estimating how many potential customers you might be…able to sell your products and services to.…When analyzing any market, you want to group customers into four types.…First are the customers that already buy from you.…In fact, not only do they buy from you,…they buy exclusively from you, and never from a competitor.…The second group is similar to the first group in that they currently buy your…products and services.…The difference is these customers also buy products from your competitors.…
Why?…That's because for some categories of products, customers want choices.…The clothing market is a good example.…You almost certainly buy your clothes from many different manufacturers of clothes.…The market for food is another example.…The third group of customers are those that buy solely from your competitors, and…never from you.…At least not yet.…And finally, the fourth group of customers are those that don't buy your type of…product from anyone.…We call them non-category users.…
These potential customers are important,…
You'll also learn to address tactical challenges and present the plan to get buy-in throughout an organization, from the C-suite to the sales team, as well as use the marketing plan to guide outside agencies and vendors. Finally, you'll learn how to launch the campaign and measure its performance.
- Marketing in an organization
- Assembling the team
- Creating the marketing plan
- Analyzing your products, customers, and market
- Segmenting customers
- Creating a value proposition
- Developing a strategy
- Setting goals
- Setting prices
- Using social media
- Presenting your plan to leadership
- Budgeting your plan
- Measuring success
Skill Level Beginner
Business Writing Principleswith Judy Steiner-Williams1h 32m Beginner
Understanding Marketing's Role
Analyzing Your Business
Developing Your Strategy
Developing the Tactical Phase
Aligning the Organization
Launching and Measuring Your Plan
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