Marketing & Strategy 

Marketing your business effectively requires an effective marketing plan and strategy and is a key part of business success. A well researched marketing plan will explore all potential market segments; will determine the marketing mix; and will ensure that branding and pricing result in building long-term, profitable relationships with customers.

At Modal Consulting we can assist you in developing solid marketing strategies or a comprehensive marketing or strategic planning process. We can also provide you with customized services that are tailor-made to your specific needs or provide a review of your existing plans, strategies or campaigns.

     

marketing plan

The marketing plan should be designed as the main reference document and as a basis for the marketing strategy. Ensuring that the plan ties in with the overall business plan and business strategy helps ensure that the plan is cohesive, complete and successful.

The plan needs to identify which customers to target, how to reach and win new customers and how to retain current customers. It sets out clear objectives and explains how to achieve them.


  

marketing strategy

One of the key elements of a successful marketing strategy is the acknowledgement that existing and potential customers fall into particular groups or segments. Identifying these segments and addressing them more successfully than the competitors should be the focus of the strategy.

The strategy should be flexible and identify the most effective marketing tools for each segment - advertising, trade shows, public relations initiatives, online, point of sale and other available to any specific market or segment. Regularly monitoring the performance and efficacy of the strategy allows for adjustments to be made as needed to achieve targeted results.

 

market segmentation

A good understanding of the market requires breaking it down into market segments or groups of similar customers. Market segmentation allows focus on target markets that will provide the best returns.

The benefits of segmentation include, but are not limited to:

• identifying the most and least profitable customers 
• focusing marketing on customers most likely to buy 
• developing customer affinity 
• defining the marketing mix 
• using resources wisely 
• realizing a competitive advantage 
• increasing profitability

 

marketing mix

The marketing mix is the combination of tactics used by a business to achieve its objectives by marketing its products or services effectively to a particular market segment or target customer group. Businesses need to make sure they are marketing

The right product to The right person at The right price in The right place and at The right time