When I first started in marketing, I sometimes struggled to make the theories and academic marketing reasonings make sense in terms of actually doing marketing. As I’ve worked for longer in the field, things have become clearer and I’m now able to apply theories and ideas directly to the work I do and pass that on to others.
This is useful when it comes to developing a marketing strategy for a business. The tools that are taught at the start of any marketing course come in especially helpful for developing the marketing plans to start or grow a business. Anyone running a business should take the time to think about and draft SWOT and PESTEL analyses and think carefully about what they want to achieve and how this applies to the marketing mix. These will not only help you to work out where you stand in the marketplace and what you need to do to improve, grow and get to where you want to be, they’ll also help you to avoid the things that will distract you or send you off-course from your business aims.
All businesses are encouraged to write a business plan. Many banks won’t consider providing a business loan without one. It is worth remembering that a marketing strategy is just as important, as getting the word out about your business and attracting the level of customer that you need to continue and grow will be the next step to making sure you succeed.