D. Marketing

Skill 1. Prepare Marketing Plan

1.1 conduct market research

a) identify areas for research, for example:

• national and international market trends, e.g. exchange rates
• market position
• economic, political and social conditions
• local services and suppliers
• customer profile, e.g. demographics
• seasonality of business
• growth potential for business, e.g. new markets, products or regulations
• competitors
• pricing
• culture of target market
• technology trends
• environmental issues

b) conduct primary research, for example:

• review competitor's promotional materials
• conduct focus groups
• visit competitor's business
• interview clients
• distribute comment cards

c) conduct client surveys

• review logged complaints and actions taken
• conduct secondary research, for example:
• read print material, e.g. trade journals, industry publications, newspapers
• participate in industry associations
• review government statistics
• attend seminars
• participate in trade shows
• review electronic information, e.g. Internet reports, web pages

d) develop client profile, e.g. needs and expectations

e) assess competition:

• evaluate strengths and weaknesses

f) evaluate own strengths and weaknesses, considering:

• location, for example:
  • parking availability
  • access to clients, e.g. visibility, access for special needs persons
  • amount of traffic flow
  • appearance of area
  • proximity of competition
• service, for example:
  • warranties
  • guarantees
  • ease of communication, e.g. fax, e-mail, toll free line
  • employees
  • hours of operation
• product, for example:
  • uniqueness
  • quality
  • benefits
  • lifespan
• resources available to implement plan
• channels of distribution, e.g. where product is sold
• promotion, e.g. advertising
• price of products and services
• personnel
• image, e.g. perception of name

g) compare own business to competitor's:

• summarize findings

table of contents |

1.2 update marketing plan

a) seek professional advice, if applicable

b) review business plan:

• consider:
  • business philosophy
  • image to be conveyed
• determine marketing budget

c) review previous year's results

d) make conclusions based on market research:

• reassess target market
• determine what aspect of business to promote

e) establish goals, measurable objectives and time lines

f) develop critical path

g) identify marketing activities to reach target market, for example:

• advertising
• networking
• sales
• promotions
• public relations

h) allocate marketing budget according to objectives:

• assign budget to each marketing activity, e.g. designate percentage of overall sales

i) develop action plan

table of contents |

1.3 implement action plan

a) determine critical dates

b) consider:

• capability of business and employees to handle increased demand
• advance preparation required

c) communicate plan to employees, e.g. use e-mail, post advertisements

d) delegate responsibilities

e) allocate human, material and financial resources

f) carry out activities

g) monitor activities and results on ongoing basis:

• ensure goals and objectives are being met

h) document:

• costs
• results, for example:
  • attitudes toward business
  • attendance at promotions and presentations
  • client comments
  • profitability
  • impact on competition
  • sales
  • market share
• influencing factors, for example:
  • economy
  • weather
  • competition
  • seasonality

i) prepare final evaluation of each activity:

• revise marketing plan and budget allocation as needed