Why strategic planning? Think of strategic planning as the rudder on a ship. Without the rudder, the ship has no direction. Like a rudder on a ship, a strategic plan establishes the direction for your business. It will help your organization to sharpen its focus, establishing the “how” to accomplish your objectives. The end result will provide focus to your organization.
Two major hurdles to overcome when marketing a new product:
Despite risks, management, in order to continue the growth of sales and profits must develop new products. A Harvard Business Review article, Why Product Launches Fail, written by Joan Schnieder and Julie Hall states, “The biggest problem we’ve encountered is lack of preparation: Companies are so focused on designing and manufacturing new products that they postpone the hard work of getting ready to market them until too late in the game.”
To be successful in new product development and commercialization, the organization needs a defined process that must be implemented in a disciplined, methodical way. TSS can provide that process.
An effective communication strategy begins with a thorough understanding of the buying process. Once the buying process is studied in detail, the next step is to analyze the tools that your organization utilizes in communicating your product features, benefits and advantages at the proper stage in the buying process; effectively aligning the right “tool” at each point of the buying process.
TSS analyzes your current strategy to see what is working and what is not. Then aligning the buying process with the communication tools with the budget. The result will be an effective, focused communication plan that will enable your organization to invest in specific parts of the buying process – more efficiently leveraging your financial resources and achieving your objectives.
It is an arranged structure to guide the process of determining the target market for your product or service, detailing the target markets needs and wants better than the competition.
Is a sequential, step by step, interlocking decision and action process which allows you to define issues, answer questions correctly and make decisions. Each step is broken down into ordered minor steps to provide a clear and focused road map.
There are two major components:
Once the plan is prepared it must be executed (implemented) and evaluated.
Evaluation becomes a major part of the background section in the preparation of next year’s plan.
Step One: Business Review / Situation Analysis
Step Two: Problems / Opportunities
Step Three: Sales Objective
Step Four: Target Market
Step Five: Marketing Objectives and Strategies
Step Six: Positioning Strategy
Step Seven: Marketing Mix Implementation Tools:
Step Eight: Marketing Plan Budget and Calendar
Step Nine: Execution / Implementation
Step Ten: Evaluation