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August 1, 2018

Creating a Marketing Plan, Part 1

In the movie “Field of Dreams,” Ray Kinsella is in his cornfield when he hears a voice say, “If you build it, he will come.”

Sometimes we think of building our business that way: If you create your business, it will be such a great idea that people will be knocking down your door to get your product or service.

But that’s not the case.

You may have the best idea in the world, a real game-changer, but if you don’t get the word out to people, they won’t know about it. In 1957, Ford spent $400 million on developing and marketing the Edsel. It was an utter and complete failure. Studies show that Ford executives did not define the Edsel’s niche, pricing and demographics – all keys to a good marketing strategy.

In the next few blog posts, we’ll discuss the key concepts of a good marketing campaign:

  • Target audience
  • Competitive analysis
  • Objectives
  • Strategy
  • Success Indicators

If you follow this blueprint, your marketing plan will become more focused, more successful, and less likely to go with way of the Edsel. If you build it and market it correctly, they will come.

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