Developing a marketing plan

Developing a marketing plan
Dal Cheema - Nexia International

what is a marketing plan? planning process step by step guide
Agenda what is a marketing plan? planning process step by step guide converting theory into practice requirements why plans fail what is a marketing plan? - reasons for producing a plan - benefits of developing a plan - outcomes of a plan - connection to corporate plan planning process step by step guide converting theory into practice requirements why plans fail

What is a marketing plan?
blue print document that provides a systematic, interconnected, logical step-by-step process for achieving marketing objectives specifies what should be done today to achieve goals ahead road map for desired destination planning is an essential strategic activity and it is an intrinsic part of efficient and effective management. In relation to marketing, purpose of planning is to achieve marketing objectives it is normally a section of the overall business plan, helps achieve business objectives - lays out your game plan - can be formal or informal, it analyses the internal and external environment, markets, competitors, specifies the marketing objectives, necessary strategies, tactics, resource allocations, schedules, tasks and embeds the controls and other actions required to attain marketing objectives - marketing is for all business - big or small: Many smaller businesses don’t place enough importance on marketing. They often see it as something that requires a lot of money and advertising campaigns. Marketing helps you to find out what makes your business unique. Building your brand is a crucial part of building your business. Questions you need to consider to build the foundation of both your business and brand include: what are the needs of your target customers? how do your competitors meet the needs of your target customers? how can you help your target customers understand why your product or service is better than, or different from, the competition? You've probably already considered some of these questions when preparing your business plan, but businesses don’t realise that these questions are also marketing fundamentals.

Reasons for creating a marketing plan
greater discipline in the planning process strategic direction for an organisation or business unit communicate marketing priorities action plan for marketing-related activities formal record of marketing-related decisions create dialogue with senior management obtain buy-in from other parts of the organisation request budget and internal resources - provide greater discipline in the planning process - provide strategic direction for an organization or business unit - communicate marketing priorities to other parts of the organisation - provide an action plan for marketing-related activities - provide a formal record of marketing-related decisions - request budget and internal resources - create dialogue with senior management - obtain buy-in from other parts of the organisation - a good marketing plan can help you reach your target audience, boost your customer base and increase your bottom line. It's often required when seeking funding and helps you set clear, realistic and measurable objectives for your business

Benefits of a developing a marketing plan
identify your target market think about both short and long-term marketing strategies looks at your business as a whole and ties together marketing objectives allocates limited resources to create the greatest return develops a guide to measure progress and outcome clarifies who does what, when, with what marketing tools - one of the greatest benefits of developing a marketing plan is that it helps you to focus your resources and plan for your business growth - writing and researching for your marketing plan gives you the chance to: identify your target market and understand how your product or service meets their needs identify your competitors and what your target customers think about your competitors’ strengths and weaknesses position your brand, products and services so that your target market sees your business as better than, or different from, the competition set specific, measurable goals and timeframes for your marketing activities map out a strategy to reach your target audience, including the messages, channels and tools you will use. - a marketing plan gives you control of your business - additionally, marketing plans are included in business plans, offering data showing investors how the company will grow and most importantly, how they will get a return on investment.

What should a marketing plan achieve?
help increase sales identify and attract new customers improve relationships with existing customers introduce a new product or service increase market share better establish your brand promote knowledge about your firm improve customer loyalty - help increase sales - identify and attract new customers - improve relationships with existing customers - introduce a new product or service - increase market share - promote knowledge about your firm - better establish your brand - improve customer loyalty - launch activities - encourage word of mouth - retain existing profitable customers - make customers feel more valued - ensure business stays fresh and new - improve relationships with existing customers by getting them to buy more building your 'brand' - its legitimacy, identity and unique differences that make it worthy of public support - spreading knowledge about your firm, what it does, who it works with, etc through awareness raising campaigns - build sustainability, reduce risk and increase accountability.

Connection of the marketing plan with a corporate plan
many types of plans in organisations: strategic corporate plans address the entire organisation. It emanates from the corporate vision of a firm business unit plans address the requirements of specific business units functional plans such as operations, logistics, HR, financial, production and marketing support the achievement of broader objectives in corporate plans These plans are internal. Behind the corporate objectives, which in themselves offer the main context for the marketing plan, will lie the "corporate mission," which in turn provides the context for corporate objectives.

Connection of the marketing plan with a corporate plan
corporate objectives should be in line with the vision and mission of the company marketing plan stems from the corporate objectives marketing plan is a tool to achieve corporate objectives marketing plan has a cyclic character

Marketing plan process
Where are we now? Where do we want to be? How do we get there? How do we ensure arrival? Did we get there? - to put together a genuine marketing plan, you have to assess your company from top to bottom and make sure all the pieces are working together in the best way. - the most important benefit of these plans is the planning process itself. It offers management or relevant individuals involved the opportunity to have detailed discussions, which provide context for management activities. - the planning process helps you to understand the different factors that may affect your success. It helps you to have a sense of control over your business.

Marketing plan steps Step one: Situation analysis
Step two: Marketing objectives Step three: Marketing strategy and tactics Step four: Implementation evaluation and control Step one: Where are we now? Step two: Where do we want to be? Step three: How do we get there? Step four: How do we ensure arrival? and Did we get there?

achieved through reviewing your
Situation analysis before anything is planned, firms need to understand where it stands now in relation to its internal and external environment achieved through reviewing your internal operations (internal analysis) industry and environment (external analysis) market competition Where we are now? (also known as Situational Analysis and Marketing Audit) Give adequate time and attention to the situation analysis. The research you do here will provide you with the solid information and background you need to make sound and appropriate decisions about the marketing mix elements that will drive your marketing activities. Marketing research is defined as a series of activities designed to identify customer needs and wants and satisfying these while making a reasonable profit on a quality product or service. Looking inwards and then outwards.

Internal operations (internal analysis)
Situation analysis Internal operations (internal analysis) internal environment (strengths and weaknesses) financial managerial marketing production human resources information technology - explore internal factors and gather information relative to your existing products and services, their sales volumes, profitability, customer mix (who buys which products), data on customer complaints and customer perceptions, etc. In addition, it can be helpful to meet with or interview key people within the organisation – product line managers, customer service department heads, or others who can provide insights related to product/service demand, customer needs and perceptions.

Industry and environment (external analysis)
Situation analysis Industry and environment (external analysis) external environment (opportunities and threats) understanding the industry you are in status of that industry in terms of its position in the marketplace history of that industry its current challenges potential for future growth Critical inputs into the marketing planning process.

Situation analysis SWOT analysis Strengths Opportunities Weaknesses
Threats Tools you can use to conduct internal and external analysis include the SWOT analysis. - provides a good snap shot of the firm - SWOT stands for the Strengths, Weaknesses, Opportunities and Threats affecting an organisation: the strengths and weaknesses factors focus on internal attributes of the organisation whereas the opportunities and threats look at the attributes of the environment and how these may affect your organisation - SWOT analysis is taken from the internal and external analysis Strengths (firm needs to consolidate) Weaknesses (firm needs to minimise) Opportunities (firm needs to exploit) Threats (firm needs to overcome) - when collating information about your firm, you can divide and analyse the information according to each of these factors. Alternatively you can base your research on these factors.

Situation analysis Political PESTLE analysis Economical Social
Technological Legal Environmental Another tool you can use is PESTLE - PESTLE stands for Political, Economical, Social, Technological, Legal and Environmental factors affecting an organisation these factors may present opportunities or risks for the organisation aspects have to be analysed in relation to the industry, market and the product - when collating information about your firm, you can divide and analyse the information according to each of these factors. For example insights discovered around technology which may affect the organisation can be categorised under technological. Alternatively you can base your research on these factors

Situation analysis Market
group of people (market) who have purchased or are likely to purchase the services you have to offer understanding the unique attributes and characteristics of the market or market segments you are targeting will help you to develop messages that are meaningful, relevant and likely to impact behavior What is a market? By understanding the unique attributes of the market segments you are targeting based on specific characteristics you are better able to develop messages that are meaningful, relevant and likely to impact behavior and determine future market and demand In addition, careful analysis of the market helps you to identify ways in which you are most likely to be able to connect with your target audiences through the use of specifically directed media and marketing channels Characteristics could be based on market size, growth, trends, preferences, attitudes and buyer behavior, needs and wants, decision making units and the process, disposable income etc.

determine how your organisation is doing relative to its competitors
Situation analysis Competition determine how your organisation is doing relative to its competitors consider a number of factors including: sales and profit figures price product and customer service attributes market position explore your competition’s strengths and weaknesses to determine how you might position your own services, to compete most effectively - competitive analysis involves looking at your competition – both direct and indirect - look at major competitors and their market standing , reputation, brands, profitability etc. Their strategies as to product, pricing, distribution, promotion, trade practices and associations etc The analysis is designed to help you determine how your organisation is doing relative to its competitors by considering a number of factors including: sales and profit figures, price, product attributes, customer service attributes, market position, etc.

Situation analysis Porters Five Forces Competitive rivalry
New entrants Bargaining power of customers Substitute/ alternative Bargaining power of suppliers - framework used to analyse the competitiveness of your industry and market place - when collating information relating to your firm’s suppliers, customers, industry, competitors etc, the information could be divided and analysed according to each of these factors. Alternatively you can base your research on these factors

reports/publications/databases Primary research
Situation analysis Methods of research Secondary research internet/websites reports/publications/databases Primary research talking to individuals or departments within your firm having brainstorming sessions focus groups to help gain responses organising a survey or questionnaire - Secondary research involves going to already published surveys, publications etc and analysing the information in them in relation to your business. It is called secondary research because you are using information others have developed, but it is usually performed before developing a primary research project - Primary research is original and direct, as opposed to secondary research, which is reviewing other researchers’ work. Primary research can be as simple as asking for various peoples’ reactions about your business/firm or as complex as the surveys done by sophisticated professional marketing research firms. Primary research includes tools such as direct mail questionnaires, telephone or “sidewalk” surveys, experiments, panel studies, focus teams, test marketing, behavior observation, etc Research helps further clarify where your firm stands; what it stands for; how it currently markets itself and how others perceive the marketing of your firm. Talking to individuals or departments within your firm, board or stakeholders. This could provide the type of direction you are looking to clarify in a marketing plan

objectives provide a clear sense of direction (where do we want to be)
Marketing objectives research conducted at the situation analysis stage will help you to determine marketing objectives objectives provide a clear sense of direction (where do we want to be) help to stimulate effort of individuals to achieve targets because they give direction and focus provide the basis for control in an organisation unless you know what is required, it is difficult to know the extent to which it has been achieved Once your opportunities and challenges have been identified, the next step is to develop objectives that indicate the “end state” you hope to achieve, to address the opportunities and challenges you’ve identified. Setting marketing objectives are important since they often shed light on underlying conditions and circumstances facing the firm that are not easily seen within financial measures The marketing objectives will indicate targets to be achieved across several marketing decision areas. Example of objectives include: retention of current customers increasing purchases of current customers trail purchases from new customers repeat purchases from new customers blocking competition, developing a new market.

Specific: state exactly what it is you wish to achieve
Marketing objectives SMART objectives Specific: state exactly what it is you wish to achieve Measurable: quantifiable objective lets you know if you have hit your target Achievable: should be realistic Relevant: should be in line with the corporate objectives Time frame: deadlines and periods for achieving objectives should be stated. Specific, quantifiable goals are critical. Your goals need to take into consideration where you are today and where you would like to be (specifically) so you can focus on closing that gap. It’s critical that each of your objectives has a specific, targeted “end point.” This helps you determine the amount of resources that must be allocated to achieve the goal and also provides an indicator of success. Not all goals are profit, volume or monetary related. While you will goals that are expressed in terms of sales volume or market share, you may also have qualitative goals that are equally meaningful. For example, you may wish to increase customer awareness of your services. - specific goal is one that clearly identifies an end point. “Raise consumer awareness of our products” is not a specific goal. “Raise consumer awareness from ____ to ____ by year end” is. What need of the market that the company is going to serve. - a measurable goal provides a way for you to know if you have hit your target. Sales goals, for example, that clearly specify the unit and dollar volume expected, by product, are measurable. eg. 50 million, 25% of the market share etc - goals need to be attainable. If you indicate that you wish to grow market share by 25 percent in the next year. That’s specific. It’s measurable. But, if your market is saturated by significant competitors and growth is limited in terms of new potential customers entering the market, that goal may not be attainable. even if your goal is attainable, it may not be realistic. For example, suppose that growth of 25 percent in market share is an attainable goal given your market area, competitive environment and consumer demand, but if you do not have the resources to deliver the services ie skilled staff, this would not be an attainable goal. - finally, goals need to be time framed. When will you achieve the goal? This week? Three months? One year? Longer?

Marketing strategy and tactics
marketing strategy and tactics entail how individual marketing objectives will be reached while the marketing objectives are SMART, marketing strategies and tactics are descriptive as they go into detail on how objectives are achieved strategies are broad statements of activity (long term) tactics are more specific statements of activity that are actionable (short term actions) Objectives/goals identify the end points you hope to achieve. The next step is to determine how you will achieve those end points. This involves developing strategies and tactics. Strategies are broad statements of activity. Tactics are more specific statements of activity that are actionable. Refer to the market segments identified Select the segment/segments to be served Position your service in the targeted segment/segments Strategy – idea, conceptualisation of how an objective could be reached Tactic – action to execute strategy

for example, looking at the marketing objective of increasing brand awareness strategy might be to educate target audiences (identified segments) on what your firm does, USPs and how you differ from competition tactics may include attending or sponsoring specific exhibitions attended by target audiences, advertising in relevant publications and websites etc. When identifying strategies and tactics, it’s important to be realistic. There are probably a wide array of activities that you could undertake to achieve your objectives, but those activities may be limited by budget and staff resources. You may wish to start this process by brainstorming all of the various activities that you might undertake and then go back to review these activities and prioritize them based on the potential for having the most impact and the availability of resources to accomplish the tasks. Narrow your focus to the strategies that are most aligned with your identity and attractive to your market.

when developing strategy and tactics, you will need to consider and incorporate the following elements of the marketing mix: product price people promotion place positioning • Product - service provided by your firm - firm’s unique selling point is • Price - how much it costs for your services and what price you charge your clients - what your customers get in return • People – the existing or potential clients you are targeting your marketing at. - how you pick the targets for your marketing campaigns For long term effectiveness, monitor the changing needs and wants of your stakeholders and adjust what you do, and how you do it, accordingly. • Promotion - how you communicate with your clients/prospects and think about the most effective ways you can do this - important to target your audience - choose the appropriate message for your audience and then choose the appropriate medium, or means of communication to reach them. This medium could be newsletters, direct mail-outs, website, billboards or posters and so on - what you say, how you say it and through what means you say it are vital in reaching the people you want as your customers – and you need to get these elements right. • Place - how and where you deliver what you have to offer – in other words, your methods of distribution - you want your product to be available at the right place at the right time and you want your customers to enjoy the experience - where, when and how clients prefer to receive information. They may, for example, prefer bulletins, newsletters, digital (blogs, websites and social media) • Positioning - where you are in the market in relation to your competitors and the public. Think about: - what is the one thing you want people to think of when they hear your organisation's name? - what are people's perceptions of you and what you offer in relation to competitor groups? How do you differentiate your work from that of similar organisations working in the same field? What makes you stand out? - are you more accessible? Do you give a more complete service?

depending on the size of your organisation and resource availability, you could divide your marketing strategy and tactics into the following sub categories: communication strategy PR strategy digital strategy incorporating a social media strategy brand strategy advertising/promotional strategy Social media strategy - detail what you want to achieve or communicate via social media. For example, brand awareness or online sales. Then provide details on the following: - social media tools: list the social media tools your customers use. For example Blogs, Twitter, Facebook, YouTube - strategy: detail the strategies you can use to network and communicate effectively with these customers - person responsible: enter the person or people responsible for maintaining your social media presence. For example, an internal staff member/team or an external service provider. Advertising and promotional strategy - list each of your planned promotions or advertising and for each complete the following: promotion/advertising type: detail the promotion/advertising type being used (eg Print media advertising, online advertising, SMS, mail-out, giveaway, media release, social media campaign or event) promotional strategy: explain why you have decided to use this promotion/advertising type and how and when you'll use it. Detail your strategy behind this - expected business improvement: detail how you expect it will improve your business success - cost: enter the cost of each planned activity - target date: enter the date you expect to complete each activity.

Marketing implementation
develop an action/operational plan covering a specific period (year) which outlines the prioritised activities which you will undertake in that time period to achieve your objectives it should include: which marketing objective the activity meets the outputs of each activity resource and cost requirements responsibility for each activity timescales for completing the activity measurements of return for each activity depending on the time period of your marketing plan (1-3 years) you may wish to develop an action/operational plan for each year - from the marketing plan, develop an action/operational plan covering a specific period (year) which outlines the prioritised activities which you will undertake during that period to achieve your objectives. Accountability having a plan is a good first step. Assigning accountability for the accomplishment of that plan is critical. Unless specific areas of the organisation and individuals within those areas recognise that they are being held responsible and accountable for completing specific tactics that drive your ability to achieve your strategies and objectives, you will not be successful in achieving your marketing goals - more than simply putting department names or individual names in your plan - need to ensure that you have buy-in and commitment from those departments and individuals assigned to the task. May involve discussion at the senior management level of the organisation and negotiation between organisational leaders to gain agreement on where the company’s human resources should be focused - may involve conversation with the department and individuals named to ensure that they understand the expectation, realise the impact their involvement has on the achievement of the marketing plan objectives and they are personally committed to helping to achieve those objectives. Budget - in addition to identifying the people resources needed to achieve your marketing plan, you will also need to address the budget resources needed. - there are a couple of different ways that organisations approach the marketing budget process: 1. allocate marketing budget based on a percentage of revenue. Critics of this approach suggest that it limits market potential. 2. some industries base marketing budgets on industry norms that are available through professional trade groups or other publicly available information 3. identifying what the competition spends on marketing and then matching or exceeding that amount. This can be challenging because it’s difficult to determine how much the competition is spending and there are other operational factors that impact those expenditures. Disadvantages of this approach is that they are based on the assumption that the competition knows what it’s doing and should be emulated 4. established based on historical spending 5. Zero-based budgeting - involves starting from scratch and looking at the identified objectives, strategies and tactics in the marketing plan and determining the budget that will be necessary to accomplish the plan. A combination of the above methods is most likely to achieve the best results. Identifying the costs associated with various aspects of the marketing plan can provide you with the basis for expenditures, as can a review of past marketing expenses and results. Receiving approval for your marketing budget will be based primarily on your ability to justify the expenditures that you’re requesting. This means providing background information that may include details on marketing spending in your industry, by your competitors and by your firm, in addition to information on the actual costs of various activities you intend to engage in. The ability to provide objective data to support the effectiveness of your marketing efforts will also help to leverage your ability to receive approval for the marketing expense budget.

Marketing evaluation and control
marketing plan should be a “living document” use a marketing committee or regular meetings with the individuals responsible to ensure implementation you will need to determine how you will monitor and evaluate marketing plan activities how often will you review and look for updates what are the processes required to make any changes in the plan Ongoing monitoring and adjustment is important - marketing evaluation and controls are important to ensure that the set marketing plan is carried out effectively. The use of a marketing committee or regular meetings with the individuals responsible for achieving the various strategies and tactics in the plan, can help to ensure ongoing attention to the plan and its implementation. How will the marketing plan be implemented? Who/what are the resources, people, financial commitments and activities involved in implementing the plan? Determine how you will monitor and evaluate marketing plan activities, how often you will look for updates and what is the process required to make any changes in the plan, is there contingency planning in place? Budgeted goals and activities obviously provide direction to the organisation in terms of identifying things that are being done – and things that need to be done. By comparing actual and planned results, the team can ensure that it’s on course to meet its objectives and can quickly act to make changes in the plan when evidence suggests that changes need to be made. Continuous monitoring of performance against predetermined targets. Performance analysis – Markets share analysis, expense analysis, financial analysis. Critical path analysis - monitoring results and benchmarking.

Marketing control process
Marketing plan objectives strategies and tactics action plans Collate performance/ measurements details Set performance indicators/ measurements Compare performance Yes Continue Corrective action Deviation No - Key Performance Indicators (KPIs) or measurement standards (stated in the action plan or budgets) - collate information and review performance - compare with the KPIs/measurements standards - identify any deviations - take corrective actions (action should be proactive rather than reactive)

Converting theory into practice
situation analysis: newly introduced tax regulation affecting the tourism industry marketing objectives: provide new service offering to existing client base (up sell) – travel agents target 2-3 new prospects in this segment to whom you can provide this new service Situation analysis: New tax regime/benefits

marketing strategy: educate existing clients/prospects in this sector on how this new regulation will impact them and what they need to consider marketing tactics: run workshop send newsletter via direct mail advertise in relevant publications/websites speak at exhibitions/events attended by targets marketing tactics: - run workshop on what the regulation is about, what they need to consider and how you can help them - send newsletter via direct mail - advertise in relevant publications/websites - speak at exhibitions/events attended by target audience

implementation, evaluation and control: develop a 6-12 month operational plan with all the activities stated above and include responsibility, costs and measurement (hits/traffic to website, number of leads etc) for each activity

Requirements for producing a marketing plan
plan must be clear, quantified, focused, realistic and agreed allocate appropriate resources and budget ensure you have internal and senior level commitment invest time in conducting the required research firm wide initiative review the plan regularly and make required updates if required get help Developing a marketing plan requires research, time and commitment, but is a very valuable process that can greatly contribute to your business success. Clear - unambiguous statement of 'exactly' what is to be done Quantified - the predicted outcome of each activity should be, as far as possible, quantified, so that performance can be monitored Focused Realistic - should be achievable Agreed - those who are to implement them should be committed to them and agree that they are achievable. The resulting plans should become a working document which will guide the campaigns taking place throughout the organisation over the period of the plan. If the marketing plan is to work, every exception to it (throughout the year) must be questioned and the lessons learnt, to be incorporated into the next year's plan - operating an effective marketing plan requires resources in people, money and technology once the required resources have been determined you may need approval by your group's committee or board to go ahead and draw your marketing budget - set yourself a reminder to review your marketing plan regularly. A marketing plan is not a document you create once. It’s a living guide that you should develop as your business grows and changes - manage performance of your staff members and marketing efforts. Motivate your team Brainstorming sessions involving everyone: - set ground rules. Develop a SWOT analysis which follows the same principles as any brainstorming session. Participants must feel free to share their impressions and opinions and not be hampered by strong and sometimes off-the-mark “opinion leaders.” proceed in an orderly fashion, starting first with strengths (internal), weaknesses (internal), opportunities (external) and threats (external). Capture input until ideas have been exhausted. After the entire list is completed, ask the group to review and consider if they have any additions - reproduce the list and provide to the group for review. The SWOT analysis is a good tool for identifying the strategic opportunities and challenges that face your organisation - use the same brainstorming process to identify and prioritise the most critical strategic marketing opportunities and challenges that impact your organisation. Since resources in every organisation are limited, you will be challenged to keep the list to a manageable number - ultimately no more than 5-7 opportunities and/or challenges should be identified – could ask groups to vote/rank items to help narrow the list and reach group consensus

Why marketing plans fail?
plan is prepared too quickly data is not used effectively in the marketing planning process external impacts are overlooked objectives are unrealistic ability to implement is absent no commitment to the plan lack of accountability. - plan was too quickly prepared. It can be tempting to move quickly through the steps in the marketing planning process and to simply identify a number of activities that need to take place, often based on activities that have taken place in the past - data was not used effectively in the marketing planning process. While there is certainly some “art” involved in the marketing planning process, “creative thinking” does not mean ignoring data that can impact decisions. Taking the time to thoroughly analyse internal and external data and information to ensure that the marketing plan is based on sound data and good judgment is critical. Time consuming, but critical - external impacts are overlooked. The external environment is changing constantly and can have significant impacts on the ability of an organisation to successfully market its products - objectives/goals are unrealistic. The marketing function is a function that spans the entire organisation. Taking the time to understand organisational impacts can help to ensure that objectives/goals have adequately taken into consideration things such as availability of staff, delivery of services within timeframes, required industry/service expertise etc. - the ability to implement is absent. Planning is one thing. Implementation is quite another. A well written plan is meaningless if the organisation does not have capacity or desire to implement that plan - there is no commitment to the plan. Broad involvement in the marketing planning process can ensure that organisational members necessary to help achieve the plan are committed to its implementation. Commitment will also be strengthened if the plan is clearly driven and supported by senior level management - lack of accountability. If those assigned to achieve certain strategies and tactics simply decide they aren’t able to achieve their assignments and there is no organisational response, there is no accountability.

“If you fail to plan, you are planning to fail”
Why plans fail? “If you fail to plan, you are planning to fail” Effective and strategic planning can ensure that your organisation’s resources are deployed most efficiently and effectively to achieve your desired objectives. Following the steps above will help you maintain focus, increase collaboration and ensure that everyone in your organisation is working together to achieve specific, measurable objectives designed to maximize your strengths and opportunities and overcome your weaknesses and threats. Without customers, your business would not survive. To attract and retain customers, your business needs to understand the value of marketing. People are unlikely to simply walk into your business and buy something from you if they don’t know who you are, what you are selling and why they should choose you over the competition. Remember, marketing is everybody's job – whether your firm is large or small, it can be marketed effectively if everyone is involved and able to promote, sell and market your services.

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Developing a marketing plan

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