Stay relevant, know your target audience. Understanding your target audience is the most important part of any successful public relations strategy. Think about what you hope to achieve with your brand and when. A marketing plan is key to business success.
Learn about the 10 basic components of a marketing plan here. Find niches or target markets for your product and describe them. How does your product relate to the market? What does your market need, what does it currently use, and what does it need beyond current use? Describe your competition. Develop your “unique selling proposition”.
What differentiates you from the competition? What is your competition doing with respect to the brand? Based on the information you've collected, establish strategies to determine the price of your product, where your product will position itself in the market, and how it will achieve brand recognition. This means goals that you can convert into numbers. For example, your goals could be to get at least 30 new customers or sell 10 products a week, or increase your revenue by 30% this year. Your goals may include sales, profits, or customer satisfaction.
If you research your markets and your competition and determine your unique positioning, you'll be in a much better position to promote and sell your product or service. By setting objectives for your marketing campaign, you can better understand if your efforts are generating results by continuously reviewing and evaluating the results.
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