Marketing plan

In order to destroy your competitors, you must first learn what works from a general stance.

Remember CUSTOMERS BUY ON VALUE, NOT PRICE. If price were the only option, the $3,000 TATA motors car would be in every garage, the dollar stores would be the only retailers, Dial-up internet would be in every household, Spam would be the only meat consumed, there would be no bottled water, and APPLE Corp would not exist.

A company’s vision defines what the organizations purpose is, it compels trust, motivation, and inspiration, to not only employees, but also customers. Vision answers what does the business do? It is not general (providing exceptional value to our customers….), but very specific “we are going to produce the lowest priced car”

Michael Porter’s 3 General business strategies or a combination of these (the only real long term strategies that work)

How will the business compete?

1. Focus- ON the most profitable products, geographies, markets, customers (Only compete in these/become the expert)
2. Differentiation-Being different, (products, distribution, pricing, promotion)
3. Low-cost-Get the same done at a lower cost/getting more done for the same cost
   (if only using low-cost, there can be ONLY be one low-cost player, the others will go out of business eventually)

Should use these for the organization overall AND each separate department

Marketing
What markets do we focus on?
How do we market differently?
How can we get the same done for less or get more done at the same money?

Objective (smart)– should look into the future 3 or 4 years. Each department should have its own objective and answer how do they achieve the overall objective?

Specific–target a specific area for improvement
What: What do I want to accomplish?
Why: Specific reasons, purpose or benefits of accomplishing the goal.
Who: Who is involved?
Where: Identify a location.
Which: Identify requirements and constraints

Measurable–quantify or at least suggest an indicator of progress
How much?
How many?
How will I know when it is accomplished?

Achievable– specify who will do it.
How can the goal be accomplished?

Realistic – state what results can realistically be achieved, given available resources.
Does this seem worthwhile?
Is this the right time?
Does this match our other efforts/needs?
Are you the right person?

Time-related – specify when the result can be achieved.
When?

Where do you want to be in the future then implement actions today get you there?

How do you use resources to overwhelm competition and do your resources match the ways you compete? (Marketing)

Decisions are based on 2 key elements
1. Objective conditions in the environment- Be the first to recognize a major change in the environment (marketing)

2. Subjective beliefs of your competitors in that environment-Be the first to respond to that change correctly (marketing)

Force competitors to react rather than attack. (Marketing)

If you fail to identify and analyze the obstacles, then you don’t have a strategy. Instead, you have a list of things you wish would happen. (Marketing)

If you don’t have a competitive advantage, don’t compete. (Marketing)

Systems when left alone disintegrate and lead to chaos. (Marketing)

5 main reasons why strategies fail

1. Omission of responsibility-nothing happens when there is no responsibility
   2. Over reach
   3. Breakdown of communication
   4. Poor intelligence
   5. Inertia- people are unwilling to change the way they do things