1. Identify and understand the current and future target market and segment. 2. Identify the problem and opportunity that the business and product or service is addressing within this market and segment 3. Develop a strategy to meet the identified need and problem and position the business to meet the identified opportunity 4. Develop the overall program to accomplish the stated objectives and strategy 5.
This is where we start to get to the meat of the marketing plan. How do we find out what the audience wants? What needs to be done to meet that need? What is the best way to communicate with that audience? Once we have a general understanding of the audience, we can begin to find the problems and opportunities that a business or product or service is trying to solve.
The next step is to develop the overall program to accomplish the stated objectives and strategy. This is where we start to get to the meat of the marketing plan. How do we find out what the audience wants? How do we find the needs that a business or product or service is trying to solve? This is where we start to find the problems and opportunities that a business or product or service is trying to solve.
For example, we could determine that there are five products or services that the business or product or service is trying to develop. We could determine that there are five problems or opportunities that these products or services are trying to solve. Then, after the marketing plan is developed, we can move on to the next steps in the marketing plan.
One way of doing this is to start with a “what problem or opportunity will be solved by the product/service?”. We can identify the problem or opportunity by analyzing the type of problem/opportunity, who is it solving for, and more. Then we can focus on identifying potential markets and evaluating the likelihood that the problem or opportunity will be solved by a particular product or service.
I have often seen these marketing plans described as a “What will happen if we do X?” type of question. That seems to imply that the answer to the question is to write an article that will describe the answer to that question.
Instead, it’s a Who will want to buy X type of question. It helps us understand the problem, the target market, and the potential solution to the problem. This also helps us think about the different tactics or channels (or both) we might use to reach the potential customers.
Of course, no one will buy an article about the answer to the question about who will want to buy our product.