15.1 Key Bullet Points
There have been a number of important points discussed throughout the various modules. These methods and explanations all contribute to the creation and execution of a marketing strategy for your products or services. We will revisit the key points that you need to keep in mind when it comes to your understanding of how marketing in general works.
You do not know everything about marketing.
This is a major mistake to avoid. If you believe you understand everything that there is to know about marketing and the market that you are in, then think again. Instead, be aware that this is a constant learning process.
Keep your feet on the ground.
It is all fine and well looking at companies that are performing well within your industry and to have the desire to match them in their success, but you have to be realistic with your marketing exploits and also the budget that is available. Keep your feet on the ground and realise that you must adopt the approach of taking it slowly at first to get the strong foundations in place before you proceed further.
Foundations are key.
Good foundations are important. This is where you ensure that you have the correct tools in place, the correct strategy, and the correct research has been carried out, before you start to build your marketing plan. Spend more time on the foundations than anything else and you will discover that the marketing aspect will become a whole lot easier.
Remember the budget.
Your marketing exploits will be directly connected to your budget and what you do with it will have an impact on your ability to reach the goals that you have set yourself. You must continually go back to the budget and keep a track on how much money has been spent, in order to get the absolute best out of the money that you have available.
Learn from others.
Learn from others and see what they are doing with their own marketing. This can be done to either learn new things that could benefit you or also teach you about mistakes that you need to avoid making, so be critical and open to all ideas.
Remember the long term picture.
It is fine to think about the short term gains of a marketing plan, but those companies that are successful will choose to think about the longer term picture before they put a plan into action. Longer term views lead to longer term gains and your turnover will then improve as well.
Never be afraid to try new things.
It is in your best interests to try new things when it comes to your marketing strategy, although you first need to invest the appropriate time and effort with your research. Often, doing something new will make you stand out from the crowd which is something you should be aiming for anyway.
Research, research, and more research.
Doing market research and researching methods or techniques that you are planning on using will prove invaluable when it comes to creating your strategy. It is essential that you get to know your market and how to access them before you start spending money. You simply cannot do too much research.
FACT
The UK advertising economy is one of the most sophisticated and dynamic in the world.
Source: thecreativeindustries.co.uk
Learn from your mistakes.
If you make a mistake when it comes to your marketing, and there is a pretty good chance that you will, then the most important thing is to realise that this is the case and make changes as quickly as possible. You have to learn from these mistakes or your business may run into difficulties Marketing does not have to be stressful.
Marketing does not have to be stressful even though you may find it complex and confusing at various points. However, as long as you plan things out and take your time over every aspect then there is every chance that things will go as they should, and even if there are some issues you will be better placed to deal with them. Remember, the problems that you may come across will not be new and unique to you so there will be advice available out there that will help you to deal with the problems as and when they arise. Ignoring them is not an option because it is then that stress levels will start to rise.
MODULE SUMMARY
There are a number of things that you need to keep in mind, but this module has tried to summarize the main areas that play a key role in your marketing , whether you are dealing with either products or services. We have avoided talking about specific tactics as that is up to you to decide for your own individual circumstances. However, keeping these key points in mind will help you.
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