Know-How Exchange : Strategy

Market-driven means that the strategy addresses the needs of the customers. So the first step is to ask your customers what market driven strategies they would recommend versus a bunch of marketing professionals. Yes, many of us are also customers of financial institutions, but we may not be in the segments you are targeting.

To develop a marketing strategy, you first have to do your analysis. This involves understanding your customers, their needs, their influencers (images and words that hit them emotionally and stimulate them to act to purchase your products and services), your competitors (strengths and weaknesses), and your own firm's SWOT (strengths, weaknesses, opportunities, and threats), core competencies, and unique selling points. When you have that, you can use the analysis to set strategic actions such as positioning, product/service definition.

If you were to click on my name, it will take you to my profile. Click on the link to my website and you will find an option called "Marketing" which explains these steps in great detail.

I hope this helps.

Wayde

I totally agree with Wayde (above) - except for the fact that the survey MUST include demographic profiling of the companies BEST CUSTOMERS.

The Pareto principal is the main element here. You see, 20% of your company's customers will represent 80% of their net profit.

Therefore, it is essential that the BEST CUSTOMERS are the ones surveyed. You don't give a shit about the others - trying rather to focus on expanding the marketing to include people that closely resemble demographically your best customer - habits, age, religion, geographic location, frequency of use, clubs and organizations that your BEST customer attends and so forth.

Read more on my website: (URL deleted by staff)

kevin