4 Key Benefits of the Market Planning Process

August 16, 2018

The market planning process is a crucial part of the journey to success for any firm. The absence of a marketing plan makes it very difficult for any organization to have a systematic approach to promote itself among its potential customers. So, it is very important to learn what and how an effective market planning process can be built.

It is also critical to follow a specific process that tables a plan which is custom tailored to the needs of your firm; after all, “a vision without a proper strategy remains an illusion.” But before we get into that process, let’s clarify some of the concepts involved in a market planning process.

process makes marketing and business development teams set specific objectives and assess their progress towards them. The management of an organization is accountable for facilitating sufficient resources to drive market success.

Helps gain a competitive edge

If proper thought is given to what makes your firm unique, it becomes easy for your target audience to select your firm over your competitors.

Market Plan Example

Are you truly lost when it comes to how and where to start your market planning process? Here is a simple guide or a market plan example to help you reach your target audience and ensure that your audience becomes your loyal customers:

  • Summary of executives
  • Target audience
  • Unique Selling Proposition (USP)
  • Strategy for Positioning & Pricing
  • Plan of Distribution
  • Offers for your customers
  • Strategy for Promotions
  • Strategy for Online Marketing
  • Strategy for Conversion
  • Strategy for Referral
  • Transaction Prices Strategy
  • Strategy for Retention
  • Strategy for projecting your finances

This is a simple market plan example that can serve as an initial resource to start your process of marketing and effectively deliver what your customer wants.

To know more about market planning and its benefits for your business, request more info.

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