The CQ marketing cycle – Step 2 – Marketing Strategy
Step 2 in our weekly series on The CQ marketing cycle is to create a marketing strategy. So, what do we mean when we say that:
– Branding – logo a visual identity to help you stand out, make you recognisable and appeal to your potential customers
– Audience – who is your customer going to be? what do they look like? describe them to me. Is it another Business or an Individual? Where are they based? Gender? Age? Type of business – are they in a particular sector or industry or at a particular growth stage? Individual interested in hobbies? etc
– Segmenting your market – once you know who your customers are, will you have different products/services for different customers? a range of complementary products/services? maybe at different price levels? or offering different advantages? Which segments of your market are more profitable?
– Route to market – how will you sell to your customers? direct? online? through a distributor or agent? is it a retail business? are you providing a service?
– Competitors – who are they? what is there route to market? pricing position? quality of their service? do you want to be a market leader?
– Positioning – how do you want to be seen by your customers and potential customers? Are you going to be high quality, high price? Low price? Where will you be based, what perception does that create? What level of customer service will your provide?
– Message – What product or service are your offering? What problem are you solving for the customer? Why should they buy from you over the competition?
For more on how we help with Segmentation, Targetting and Positioning please click here