Question

Topic: Advertising/PR

How To Compile A Good Marketing Plan For A New Co

Posted by Anonymous on 250 Points
My name is Kufa, me and my colleagues from varsity have established a research consultancy company which will deal with all kinds of research and policy formulation. We all have formal skills in the research field, including Marketing and Markerting research. However, we all don't have any significant experience in this field (Marketing). I have been tasked by my business partners to come up with a good marketing plan. Our company is still new and for it to thrive we need a good marketing plan among other important things. I need advise on where do I start with this mamoth task? Please, advise.
To continue reading this question and the solution, sign up ... it's free!

RESPONSES

  • Posted by steven.alker on Accepted
    You’ve been given some super advice here on most aspects of writing and even implementing a marketing plan. But as you admit that you have no key skills or experience in marketing, it’s a bit like being told how to build an aeroplane and then being expected to fly it for the first time with a few passengers on board. You might get the theory roughly right, but the practice may land you and your crew in several bits all over the runway.

    I think that you would be wise to seek some help. Look up some of the mentoring groups which are around – your old alma mater can probably put you in touch with some business people who will be prepared to guide you through the endless choices you will have to make with your new enterprise, resolve the conflicts over what to do with a limited budget and know how to respond when the theory seems to tell you to go in two diametrically opposed directions at the same time.

    Also the marketing plans and templates mentioned make little reference to the sales process. A good marketing plan can produce a lot of awareness, but you can’t bank that. It will produce a lot of leads, but they don’t pay wages. It will tell you the strengths and weaknesses of your products versus the competition and where you sit in the market but that won’t put a pound or a dollar of profit into your hands.

    You will need to learn how to take the outputs from the marketing plan and turn them into sales. If you want to do this to the best of your ability, you will have to learn sales techniques and put them into practice. You will have to add a sales plan to your marketing plan.

    It’s not beyond your ability though, and there are skilled people around who will do this for a modest fee or a share in anticipated profits, in return for teaching you how to put your good ideas into business and sales practice.

    Without a sales plan, you literally won’t know what you are meant to be doing from day to day to make the income you desire and probably deserve. You are being very brave and very adventurous, which I admire. Please don’t be foolish by ignoring your blind spots and hoping that they won’t impinge on your plans for success.

    Good luck and do let us know how you get on.


    Steve Alker
    Unimax Solutions
    (Once a university boffin who thought he knew how to sell but didn’t!)

Post a Comment