The document discusses developing marketing strategies and plans. It outlines key concepts including identifying target markets and segmenting demographics, analyzing the four P's of marketing (product, price, place, promotion), conducting a SWOT analysis to define strengths, weaknesses, opportunities, and threats, crafting a mission statement and positioning statement, and using portfolios to showcase products.

1. Developing
Marketing Strategies
and a Marketing
Plan
Josh McCamish

2. Target Markets
A firm must find its target market if it
plans to have a successful sales strategy.
Once a market has been identified, it
must be segmented into demographics to
further specialize the advertisements
targeted at this market

3. Four P’s of Marketing
The four P’s of marketing refer to Product,
Price, Place, and Promotion. All vital points
to look at while planning a marketing
strategy.

4. Product
Product refers to the good or service
offered by a business, This could be a
good or service, for example a nature
tour, or a computer.

5. Price
Price refers to the amount of money
a good or service is sold for. Prices
have various ranges, but they real
way to calculate price is by the
perceived value of product by the
consumer.

6. Place
This refers to the location of the
business, the environment in which the
product is sold.

7. Promotion
This is not a job promotion. This is
advertisement. How a company can
get the word out about their
product and raise awareness of it.
This can be done by billboards or
news ads, but nowadays, businesses
are utilizing social media to
advertise their products.

8. SWOT Analysis
Another helpful tool is a SWOT
analysis. This four step program helps
define a firm's Strengths, Weaknesses,
Opportunities, and Threats. Hence the
name SWOT. Defining weaknesses can
help generate ideas on how to build
strengths to combat them, and looking
at opportunities can lead to ways to
bypass any threats a company might
find.

9. Mission Statement
A mission statement is an important
part of creating a business. This is a
short statement that describes the
purpose of an organization. The ‘why’
behind why they are there. Usually
invoking words like ‘Teamwork’ or
‘Vision’.

10. Positioning Statement
A positioning statement refers to
what image is conjured when a
consumer hears a company name.
A simple phrase that sums up a
brand through the eyes of a
customer. Often made with a catchy
tagline or catchphrase unique to a
company’s products.

11. Portfolios
Portfolios are a great way to showcase
products. A good portfolio will organize a
business’s products into easily
distinguishable categories. From there
they can easily be evaluated.

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