Just as you have a role inside your family, so does your proposed business have a role in your marketplace. If you can’t describe this role inside and out, chances are you’ll find yourself on the outside looking in rather than the other way around. Your company’s role is also the core of your overall marketing strategy. It embodies your marketing philosophy and strategy, which stems from your market research.
Here are some questions for you to ask yourself:
- What types of customer groups will you target first? How about later?
- How do you fit into the marketplace? What is your role?
- How will you identify specific customers and contact them?
- What features of your product–quality, price, delivery, warranty–will you push to generate sales?
- Do you have any innovative marketing ideas planned to spark your customers’ interest.
- What future objectives do you have for increasing your market share?
- What type of company image would you like to have?