It is good marketing practice to be able to develop a direction for your business. This will form the basis of the marketing plan.
There are 4 key stages in a marketing plan.
Firstly – analysis of the current situation. This will include an assessment of the key external issues. This can include the economy to changing customers to new competitors. It needs to decide how to respond and build for the future.
Best marketing practice will illustrate the challenges but also the options facing the business. It will need to decide who to compete with and on what basis. Is it better service, providing a solution or offering a low cost deal?
Whatever the issues the stages of the plan remain constant.
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