Promotion plays a role in the perception the possible target audience may have about your service. Services marketing is that elusive concept which stays incomplete without a thorough understanding of 7 Ps. Also did you read our article on the The 4 P’s of Marketing – The Marketing Mix strategies?
Marketing plan - slideshare, Excellent presentation slides on how to develop an effective marketing plan. Digital marketing plan - smart insights digital, Digital marketing plan digital strategy structured race planning framework create plan.
Your Strategic Marketing Plan is an integral part of your overall business plan, and we can help you pull all of the elements together. Based upon years of working with technology companies who were at various stages of strategic planning, Aistrup Consulting developed our own flexible process to help customers define and develop compelling, actionable marketing plans. We don’t need to re-invent the wheel every time we take on a project—if all you need is a “tune up” on your old plan, we’ll start from there. We write your plans to meet the specific needs of your audience, whether it’s investors, lenders, Board members or your own management. Take the first step toward making that commitment, and call us today to help you develop an actionable Marketing Plan. Conducted a product line optimization to identify low margin products and refocus business development on high profit segments. Developed and wrote funding documentation for clients seeking financing and government grants, resulting in over $20 million of SBIR funding and successful private and public financing rounds. Trained Marketing and Sales of a Fortune 50 technology firm in Best Practices including strategy and value proposition development, market analyses, competitive intelligence, product life cycle modeling, pricing strategies and product launches. Clarified the value proposition for a disposable medical device, established a new brand identity and ultimately positioned the product as the new industry standard within two years. Conceived and led strategy development for more than 20 early stage technology companies, resulting in first commercial sales, industry awards such as “Startup of the Year” and funding from SBIR, private and public sources. Strengthened product pricing strategies for management of a renewable energy technology firm, validated with in-depth analysis of competitor financials, distribution, production capabilities, new products and SWOT analyses. Established an aggressive IP licensing program for a biotech company resulting in the company’s first multi-million dollar license agreement with a Fortune 100 medical device company. Licensing and royalty revenues increased from zero to over $50M in 5 years, propelling the company to #20 on Fortune Small Business Fastest Growing 200 List. Managed and negotiated Intellectual Property licenses and agreements with global technology developers in the Printed Electronics industry resulting in two publicly announced agreements. Qualified prospective licensing targets for medical diagnostic technologies, initiated discussions and negotiated terms leading to 3 executed agreements.
Yet for many B2B marketers, the pricing strategy in their marketing plan is challenging to write; many aren’t even involved in creating their pricing strategy. There are many factors to consider when developing your pricing strategy, both short- and long-term. Note: You can access guided pricing strategy templates and step-by-step instructions for writing the pricing strategy section of your marketing plan in our marketing planning and management app.
When you offer a truly unique product or service with little direct competition, it can be challenging to establish your price.
When your price, value proposition and positioning are aligned, you’re in the best situation to maximize revenue and profits. Company C regularly evaluates their competitors’ prices to make sure they’re delivering on their promise.
However, if there isn’t a strong market for prestige, this strategy may be the best one for the company long-term. If Company B charges a premium price for an average product, they’ll have a very difficult time generating interest in their it.


Yet Company B may be able to implement a small price increase to raise revenue and profits; it depends how much more its customers are willing to spend. By analyzing price sensitivity and testing different prices, they can evaluate the strength and potential of this new strategy.
If Company C’s prices rise in relation to those of their competitors, sales will plummet – their market is shopping on price, not factors like product leadership or customer intimacy. If Company C cannot maintain its operational efficiency and cost leadership, it will need to develop new products or markets for its existing product. Their pricing is typically 15% above the competition – they’re the most expensive product in their class.
Their demand curve is relatively inelastic, meaning that their market isn’t that sensitive to price. Much of that results from the carefully selected positioning and branding over the past five years. When they’re behind their sales targets, individual reps are given the green light to discount if needed to meet their sales quotas. Management doesn’t want to get in a price war, but is willing to ensure that they hit their short-term numbers.
Management knows that they could spend more in R&D to differentiate their offering and have greater pricing power, but they haven’t yet committed the budget to do so. The quality of their offering suffers, and they end up providing mediocre service for both markets. By lowering the price of their “prestige” brand to access a new market, Company C has increased its revenue, while reducing its profit margin and damaging its brand.
Create a free account in our marketing planning and management web app for step-by-step guidance. It’s best to define your positioning, create your brand strategy, and identify your distribution channels before you develop your pricing strategy in the marketing plan. For example, if your method for delivering value is product leadership, you shouldn’t discount heavily or compete on price; you should also minimize pricing conflicts with any channel partners. Your price sends a strong message to your market – it needs to be consistent with the value you’re delivering. If your value proposition is operational efficiency, then your price needs to be extremely competitive. If your value proposition is product leadership or customer intimacy, a low price sends the wrong message. Estimate how sensitive your customers are to fluctuations – it will help you determine the right price and volume combination.
Once you’ve finalized your pricing strategy in the marketing plan, it’s time to design your marketing campaigns.
The Marketing MO planning app is your behind-the-scenes Chief Marketing Officer, a comprehensive resource that will improve your overall business, whether it’s a consulting practice, start up, or mid-size company. Kelly Odell posted an interesting marketing plan template which should result in a marketing plan of roughly 24 pages. You should try to answer each square in the template with no more that one page including diagrams and pictures. Marketing News10 Ways to Ethically Make Money On The InternetTop 10 Affiliate Ad Networks How You Can Use Twitter for Business7 Best Affiliate Tracking Software7 Best Free Affiliate Tracking SoftwareOnly 15 Days Left Before the Contest for Best Commenter Award from Simple Thoughts Ends. Every link that you provided here is very useful, I have personally used the How to Edit Any Web Page in 1 minute before in the past. Who would want to travel 10 miles to have a regular dinner, even if that is priced very competitively and has a super quality?
Services being intangible, processes become all the more crucial to ensure standards are met with.
These form the critical success factors for any service as evaluated by a possible customer.


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Their consultants come from top schools, and they work with Fortune 100 clients to implement complex, large-scale projects. Their clients are buying the best expertise they can find, and they’re less sensitive to price because they care most about getting top talent. There’s a lot of competition and their product is only slightly better than the alternatives. They regularly review the market, run promotions, and adjust prices to maintain their competitive position.
Their value proposition is operational excellence and they consistently deliver the same product at a better price.
They hire more consultants, but since they’re charging less per hour, they can’t afford the same top-tier talent.
By doing so, you’ll ensure that your pricing reflects your value and reinforces your brand. If you’re perceived as a commodity, you must either change the market’s perception via a new positioning strategy, or compete on price and focus on innovating to keep costs low so you can still make a profit.
You’ll be far more effective when considering discount promotions – you’ll know exactly how low you can go and still be profitable.
If your value proposition is operational efficiency, evaluate your competitors on a regular basis to ensure that you’re continually competitive. When tackling any new marketing task, have confidence that we have your back – with the structure and detail you need to get things done right.
Services can range from financial services provided by the banks, technology services provided by the IT company, food and ambiance as a service provided by restaurants or even a blog where an author provides a service (information presentation, interesting reading etc) to his audience. The attributes of the product, vis-a-vis the attributes offered by competing products and substitutes, are important in estimating the competitive scenario for the marketing strategy formulation. Promotion leads to service (brand) recognition and further establishes a proxy to evaluate quality of services based by potential customers. Process mapping ensures that your service is perceived as being dependable by your target segment. If they’re extremely sensitive, you may be better off at a much lower price with substantially greater volume. Services marketing are dominated by the 7 Ps of marketing namely Product, Price,  Place, Promotion, People, Process and Physical evidence. What is important to note that services being all the more intangible, the price becomes an important factor for the actual service consumption to happen, after service awareness and service acknowledgement.
Many different promotional tools are often used like internet advertisement, special events, endorsements which happen out of the store or in-store merchandising like branded boxes from Custom Boxes Now, plastic dump bins and digital signage. Intensive training for your human resources on how to handle customers and how to deal with contingencies, is crucial for your success. Would you like eating at a joint where the table is greasy or the waitresses and cooks look untidy and wear a stained apron?
The 7 P framework is one of the most popular framework for deciding a marketing strategy, right from strategy formulation to actual implementation.



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