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A strategic marketing plan requires the identification of all the possible value propositions that are available and add-value to the firm. Only then can you develop a series or set of hypotheses that allows us to organise our thinking in terms of the relevant market segments to focus the tactical tools on, for each of the profitable revenue streams. In other words the market segment determines the marketing mix.
Value Proposition Identification
Marketing strategy involves the development of a basic structure for your marketing campaign comprising of a plan of action over a defined period of time. This process addresses feasibility and company objectives, taking into account the organisation's capabilities.
SITUATION ANALYSIS
Defines your current situation i.e. where we are now (PEST Analysis, SWOT Analysis, KPI’s, Benchmarking)
TACTICS
The devil is in the detail (Marketing Mix – Email, Social Media, SEO, Traditional Marketing, PPC)
OBJECTIVES
Where do we want to be (SMART approach, 5 S’s, Situation Analysis Completion)
ACTIONS
Who does what and when (Responsibilities, Internal Resources, External Resources)
STRATEGY
How do we get there (Digital Disruption, Business Model Canvas, Blue Ocean Framework)
CONTROL
Monitoring Performance (Google Analytics, Testing, Profiling, Reporting Frequency)
Value Propositions
The value proposition answers the question, ‘what are you building and for who’? What value do the service / product deliver to your customers? Customers are trying to solve a problem or fulfil a need.
Revenue Streams
The objective is to identify all the customer value propositions that can add value to the business model, where each ‘value proposition’ represents a separate market subset or revenue stream.
Customer Segments
Who are my customers and why would they buy? For whom are we creating value and who are our most important customers? The customer / market segment determines the marketing mix.
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