Being a student and also being not much exposed to the real corporate world, what is the most extravagant marketing strategy you have seen people adopting? Newspaper ads, Tv commercials, free sampling, what else?
But did you ever think how these marketers decide which path is the best for the growth of their business?
Hence, to give you a better idea of how things work in the real world, your teacher asks you to prepare a marketing planning assignment.
But, since this is not an easy task, to help you in your assignment and also in reaching your academic goals, we have listed below the steps a marketer follows. You can include these in your assignment and score better grades. So, let's check them out!
STEP 1: Understanding the situation business is going through
You can never find the right answer to a problem until and unless you understand the problem thoroughly. To do this, you will need to look closely to the factors that affect the business-like competitors, price of the good or service, and other related subjects. And the best way to do this is performing SWOT analysis that stands for Strengths, Weaknesses, Opportunities, Threats.
STEP 2: Find out the target audience
The next important thing that you must do is try to find out which section of people are most likely to buy your product or service. This is known as locating your target audience. To device, a perfect way of appealing your audience and getting them involved in the act of purchase and sale is to understand them first.
STEP 3- Position your brand
The best way of doing this is by doing something different. People always get attracted to things that are unique, innovative and can find a solution to their problem. If your product or service has all of these three qualities, it will not be hard for you to position your brand in the market. Make sure that whatever you tell your customers about your product or service is true, can be proved and is reliable.
STEP 4: Define what your product or service can do
Just merely telling people that there is a new product or service launched in the market will not do the job. You will need to tell people what all your product is capable of doing. You need to define it. And then you must also tell them about all that you are offering. This will include all of the benefits that will come with the product or service. If it is something that can cause harm to any section of society, you must not hide this information from your clients.
STEP 5- Identify the marketing techniques and tools you have
Keep it as simple as possible. Here are some of the techniques and tools you can choose from:
- Word of Mouth
- Online Marketing
- Direct Calls
- Print Media
- Social Media
STEP 6- Budgeting
Though this comes at the end but is the most important step. You must consult the finance department and then finalise what is the minimum and maximum money you can spend on this. Also, make sure that the results you get are much more than what you spend.
So, you can include these 6 steps that a marketer follows for his business in your assignment and impress your professor. in case you cannot do this efficiently, seek assignment help from experts. Good luck!
Planning Process is the most important part of all marketing planning assignments, and a lot of students do not find it easy to deal with this section. This article highlights all the steps of this process that they must include in their assignment.
About the author:
David John has been working with Global Assignment Help for the past 3 years. He has been providing numerous students with assignment help on various marketing related topics. He loves singing and dancing in his free time.