The Marketing Plan: How to Prepare and Implement It

By William M. Luther | Go to book overview

3 Market Analysis
You have a wonderful idea. A better way to do something. You spend several months perfecting the concept, and then you do your launch. Sales are slow at the beginning, but after a few years, they pick up. However, you realize that you are still not making much of a profit. What's the problem? It could be one or more of several market factors that determine whether you can make money in a specific market—regardless of the superiority of your operation. There are two questions you must ask yourself at the very beginning of the process:
1. Am I going into the right market?
2. Do I have the resources to become a market leader?

This chapter concerns an important element of that [right market] question: market profit potential. If you have what you believe is a brilliant new business concept and are going to devote your life to it for several years, you want to be sure you are going into a market that will reward you well if you finish near or at the top. That reward could be money or, if you are a nonprofit organization, it could be doing the most good.

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The Marketing Plan: How to Prepare and Implement It
Table of contents

Table of contents

  • Title Page iii
  • Contents ix
  • Acknowledgments xi
  • Introduction 1
  • 1 - The Planning Process 9
  • 2 - Marketing Management 21
  • 3 - Market Analysis 27
  • 4 - Customer Analysis 55
  • 5 - Brand Development 67
  • 6 - The Product/Service Plan 73
  • 7 - Calculating Your Marketing Communications Budget 101
  • 8 - Competitive Analysis 109
  • 9 - The Advertising Plan 117
  • 10 - The Sales Promotion Plan 139
  • 11 - The Public Relations Plan 153
  • 12 - The Sales Plan- Pricing 163
  • 13 - The Sales Plan- Future Sales 175
  • 14 - The Customer Service Plan 197
  • 15 - Maximizing High-Potential Accounts 203
  • 16 - The Internet Plan 237
  • 17 - The Research Plan 249
  • 18 - Pulling the Plan Together 257
  • Appendix A - Marketing Plan Basics 263
  • Appendix B - Everything You Need to Know about Working with An Advertising Agency 275
  • Index 285
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