Developing a Marketing Plan: Separating your Business from the Competition

marketing professionalsDeveloping a successful marketing plan is time consuming, yet incredibly crucial for your business. Consisting of several aspects, from identifying and researching your target audience and understanding your competitive position to branding, advertising and more, your marketing plan is a step-by-step outline for the future success of your business.

This week, the marketing and branding experts at The Marketing Showcase are going to breakdown another critical aspect of any good marketing plan: Separating your Business from the Competition.

What makes your business different from another business offering the same product or service? Why should a consumer choose your business over the competition? These are the important questions you need to answer. And if you cannot answer these, then you may want to pack up and call it quits.

Today’s business world is extremely competitive and if you cannot offer anything unique to your target audience, then your business is doomed right from the start. You need to differentiate your business from your competition in order to make sales, survive, and thrive

The Key to Success: Research, research, and more research!

  • Personal Research: In this step, which you should have already addressed in your marketing plan, you will discover who you are, what you are, your strengths and weaknesses, and more. In this step, you will also develop your brand and really begin to outline the ins and outs of your business.

  • Qualitative Research: Also completed earlier in the marketing plan process, qualitative research tells a company who its target audience is and what they look for in a company, product, or service. Knowing your target audience, as well as their wants and needs, allows you to better market and advertise your product/service.

  • Competitive Research: Now for something new. Once you know who you are and who your target audience is, it is important to define what makes you unique. First, learn as much as you can about your direct competition and your industry. The more you know, the better you will set up your future success. Take those aspects of your competition that work and add your own flair. Remember, you don’t want to mimic your competition. You want to learn from them, their successes, their failures, and the like.



The Marketing Showcase can help you separate your Business from the Competition!

We provide strategic planning for your business development and the marketing processes. We transform brand development into benchmark and performance measurements based on market research and B2B, B2C, and B2G experience.

The Marketing Showcase will implement your marketing plan or build you a new marketing plan from scratch. We never operate without a plan and our plans are always designed to target specific goals aligned to your long-term marketing goals.

If you have any questions further questions, please contact The Marketing Showcase by calling 202.329.3199 or visit TheMarketingShowcase.com today!

The branding professionals. We run with your vision!

You can also follow The Marketing Showcase on Facebook, Twitter, LinkedIn, and Google+.

 

Tags: , ,

Comments are closed.