1. DEFINE YOUR CONCEPT
- What business are you really in? (Be specific)
- List your service(s) or product(s)
- Define your market position
- Define your desired image
2. YOUR BUSINESS IMAGE
- What business do your customers think you are in?
- What are they buying?
- What compliments or complaints do you get?
- What sells you?
- Customer image of your business
3. UNDERSTAND YOUR MARKET
- Market size
- Trends
- Trade attitudes and habits
- Economic Environment
- Technological changes
- Political/Legal changes
- Social/Culture Environment
- Demographic changes
- Resources
- Skills
- Substitute Markets
4. KNOW YOUR COMPETITION
- Who are they?
- Identify Strengths/Weaknesses
- Product Line
- Promotional Mix
- Pricing
- Customer Profiles
- Location
- Personnel
- Life Cycle
- Customer Services
- Image
- Operating Policies
- Purchasing Power
- Ranking
- Market Share Analysis
- Potential Competitors
5. KNOW YOUR CUSTOMER
- Identify needs, wants and desires
- Customer Profile
- Demographics
- Age
- Income
- Sex
- Residence
- Marital Status
- Family Size
- Occupation
- One/Two Incomes
- Psychographics
Activities
- Work
- Entertainment
- Hobbies
- Shopping
- Social Events
- Sports
Interest
Opinions
- Social Issues
- Politics
- Products
Expenditure Patterns
- Average Sale
- Frequency
- Monthly/Yearly Purchases
Shopping Habits
Buying Behaviour
Purchasing Process
- Decision Maker
- Purchaser
- Decision Criteria
Trends
Target Market
You may wish to review your sales and financial records to obtain customer information.
STRATEGIC PHASE
1. PRODUCT/SERVICE
- Product line evaluation
- Customer needs vs. Product/Service qualities
- Product presentation
- Product Life Cycle
- Product Image
- Suppliers
2. DISTRIBUTION
- Channel
- Transportation
- Control
- Incentives
- Feedback
3. LOCATION
- Determine Importance and Factors
- Factors:
- Customer preferences
- Services (ie. Parking, access)
- Traffic count
- Neighbouring stores
- Area growth
- Cost
- Competition
- Transportation
- Image
4. PRICING
- Strategy
- Price vs. Value
- Margin
- Competition
- Discounting
5. PROMOTIONAL MIX
- Advertising
- Sales Promotion
- Publicity
- Personal Selling
- Evaluate Media, Vehicles (Strengths/Weaknesses)
- Target Market Analysis
- Cost
Advertising
- Which media best reaches your customers?
- When should you advertise?
- How much should you spend?
- How often should you advertise?
- What should you advertise?
- Cost/Benefit analysis
Sales Promotion
- What type of sales promotion should you do?
- What form should it take?
- Coupons
- Advertising specialties
- Samples
- Cost vs. Benefit Analysis
Publicity
- What to say
- Forms of Publicity
- Interviews
- Press Release
- Public Speaking
- Community Involvement
Personal Selling
- Quality of staff
- Training of staff
- Product knowledge
- Selling ability
- Dress of Staff
6. CUSTOMER RELATIONS
- Policy
- Warranty
- Services
- Credit
7. IMAGE REVIEW
- What sells you?
- Customer Image
- Company Image
- Desired Image
- Best way to achieve desired image
Factors:
- Quality
- Price
- Cleanliness
- Service
- Reliability
- Unique service or product
- Good selection
- Distinct image
- Personable
- Community involvement
- Convenience
- Industry contact
- Knowledge
- Only one in town
- Reputation
- Guarantees
|
