1. The document discusses developing an effective marketing strategy for small to medium business owners with annual turnovers between £500k-£5m. 2. It emphasizes starting with clear objectives and understanding customers by researching their needs, wants, behaviors and market trends in order to develop the right strategy. 3. Common pitfalls to avoid include having an unclear value proposition, lacking a purpose or objective, not understanding the competitive landscape, and failing to measure return on investment.