Marketing

1. What is a marketing plan?

A marketing plan is a way of planning how you will market your company. The marketing plan is part of your business plan.

It does not have to be particularly comprehensive. The main thing is to ensure your marketing plans are tangible and clear. This will facilitate discussion with other parties and allow new approaches which may play an important part in your company's future. A marketing plan includes both short and long-term goals, which helps you plan your business development effectively.

2. How do I make a marketing plan?

Start by making a current status analysis. Have a close look at your market and try to determine whether there are any new trends or other factors that may affect your company in the future. Analyse competitors and your own company. Consider threats, opportunities, strengths and weaknesses.

Also describe your business concept and define the company's target group in the marketing plan. Where possible, examine what potential customers might think of your concept. This may help when you consider pricing, potential and goals.

3. How do I develop the marketing plan?

Define goals, both short-term and long-term. Produce strategies and describe how you will achieve the goals. The marketing plan must also indicate specific activities and campaigns that will be implemented during the year and their scheduling. You should regularly check that the budget and marketing plan are on track during the year. You can then take advantage of any lessons learned when you draw up the following year's budget and marketing plan.

4. How do I identify my target group?

There are many ways of finding customers and customer potential. Using different categories, start by dividing up your market and finding your own target group. You can consider factors such as age, gender, customers' social or economic situation and their interests or characteristics. You may want to compare your concept with your competitors to see what their clientele looks like.

5. How do I get customers interested in my products?

Marketing must attract attention, create interest and respond to a need, thereby resulting in action (a transaction). There are many ways of doing this, and they may vary depending on the make-up of the company, its location, what it sells and and who it sells to. Marketing initiatives include letters, personal phone calls or visits, adverts, exhibiting at fairs, TV commercials and articles in daily papers, the weekly press and trade magazines. Marketing may also take the form of giveaways and special offers.

6. How do I find my target group?

Your target group can never be "everyone who wants to buy". No two customers are identical. All customers have their own needs and preferences. You need to choose the specific target group you will be aiming at and then develop this group. The market will therefore have to be divided into smaller parts, referred to as segments. A good reason for identifying market segments and dividing customers into groups is to enable you to reach the customer in the right way. You communicate with young people one way, and older people another way.

7. What is positioning?

If you "sweet-talk" your way into customers' awareness, they will think of you rather than your competitors. This will also give you a clearer market image and message. Examples include "the bakery with the tastiest cinnamon swirls in town", "the company with the sharpest design" or "first with the latest model". This is called positioning a company or product.

8. What is the value of marketing?

Marketing is about how you manage your customer relationships. When customers come back, profitability increases. A good reputation and personal recommendation are the most effective marketing tools that exist.

9. Can I market myself exactly as I please?

The Swedish Marketing Practices Act contains general provisions which state that marketing shall be consistent with generally accepted marketing practices and not be improperly conducted.