Ia€™ll briefly review each step in turn: Understand Your Customer Develop a clear picture of your target customer using market research and analysis. Click here to get the 7-Step Marketing Toolkit, which will help you easily develop an effective marketing plan for 2016!
Download our Marketing Strategy eBook - an easy 7-step marketing strategy program to drive business results. Unless youa€™re an improvisational artist, the success of your business probably depends on your ability to develop and implement specific processes.
Thata€™s why successful marketing depends much more on building an effective strategy than it does on producing award-winning creative.
Good creative concepts are obviously important because your marketing communications must be engaging enough to cut through the marketplace clutter.
ProcessTM is the discipline we follow to create successful marketing plans in addition to compelling creative. This process will help you produce unique and defendable positioning strategies that will positively differentiate your company from the competition.
To help you better understand and evaluate the Primary Marketing Process, we have prepared a more in-depth view of each element in the process. Marketing strategies outline the manner in which your marketing mix is used to attract and satisfy your target market, thus fulfilling your business's objectives, which is to derive net profit from your business activities. Therefore, the first step "Sensing" is to perform information gathering about the target market. From the information you have gathered and ideas you have developed from Marketing Physics, start weaving these ideas together in a coherent manner to create marketing plan.
You need to put in place tracking mechanisms for all the different marketing channels that you have and then perform testing for different versions of your marketing messages.
You must be able to apply Marketing Mathematics to measure the response of your marketing efforts, so that you can continually improve the effectiveness of your marketing campaign. Lastly, with the results coming in from Step 3 "Implementing", you will then assess if the strategic objectives (such as specific key performance indicators) laid out in Step 1 "Sensing" are met. Based on the numbers from Step 3, you will know which of your marketing efforts are winners and which are non-performers. NetProfitQuest provides SMEs and other corporations with alternative marketing channels, to increase profits without increasing marketing budgets. NPQ is collaborating with Institute of Systems Science, National University of Singapore, to launch the 1st National Infocomms Competency Framework (NICF) accredited Social Media Marketing Course.
The course, developed specifically for corporations and SMEs, is 70% funded by WDA (Singaporeans and PR). If you are considering conducting marketing research, chances are you have already identified a problem and an ensuing informational need.

Based upon a well-defined approach from Steps 1 & 2, a framework for the designing your marketing research program should be apparent.
Often called data collection or survey fielding, this is the point at which the finalized questionnaire (survey instrument) is used in gathering information among the chosen sample segments. All analysis that can be performed, from complex to simple, depends on how the questionnaire was constructed. Reporting and presentation, if not the most important of the steps in marketing research, is easily the second behind research design.
This is an example of a WordPress page, you could edit this to put information about yourself or your site so readers know where you are coming from. Services can range from financial services provided by the banks to technology services provided by the IT company or hospitality services provided by hotels and restaurants or even a blog where an author provides a service (information presentation, interesting reading etc) to his audience. While everyone knows about the 7 Ps of services marketing, the 8th P of Services Marketing has emerged in research very recently. In integral services management, improving productivity is a requisite in cost management; but quality, as defined by the customer, is essential for a service to differentiate itself from other providers. It has been recognized that overall profitability of a firm may be greatly impacted by focusing on not only at the top-line by improving sales but also focusing on the bottom-line by lowering over-all cost of delivering services. It has also been established in research that process improvements deliver better standardization and hence better quality in services. Also did you read our article on the The 4 P’s of Marketing – The Marketing Mix strategies from which the 7 P Marketing Mix theory actually evolves? It helps you to look inwards, evaluate your products and develop an effective marketing angle to position your products uniquely in the market.
These marketing laws will enable you to angle your marketing strategy in a way that will enable your customers to understand and see the dramatic difference of your products and services. You should create a Marketing Funnel, that converts your visiting suspects to qualified prospects to paying customers to loyals members to raving fans. You can then decide to cut the losers and put more resources into the winners, and repeat the cycle of "Sensing", "Planning", "Implementing" and "Reflecting". It is an on-going process that builds and leverages on your competitive advantages, and must be adaptable, sustainable and forward looking.
Generally speaking, your approach should be developed almost exclusively around a defined set of objectives.
Less complex analysis on smaller data sets can be handled with any of a number of office suite tools, while more complex analysis and larger data sets require dedicated market research analysis software. All business critical information and knowledge that comes from your market research investment are limited by how they are presented to decision makers. You can create as many pages like this one or sub-pages as you like and manage all of your content inside of WordPress.

So the classical 4 P structure of the Marketing Mix needs to be modified suitably to incorporate the 8 Ps for services marketing, which was previously known as the 7 Ps only. Services marketing are dominated by the 7 Ps of marketing namely Product, Price,  Place, Promotion, People, Process and Physical evidence. In services management, often the variable costs are a lot more than fixed costs, and so incremental costs, if managed properly can have a huge impact on productivity.
Quality perception is a crucial differentiating factor on services management and for long term sustainability of the same. Our authors are educators from top QS ranked universities and practitioners from multinational enterprises. Without an excellent product (engine), your business may not go very far, even if it has a great marketing system (glider). Based on the beliefs, attitudes, values and culture of your business, setup your strategic objectives. The key thing to do during implementation is to test and measure the key performance indicators (KPIs) that you have defined in Step 1 "Sensing" under strategic objectives.
Clearer objectives developed in Step 1 will lend themselves to better approach development. Since the intelligence eventually gained from the research is so closely related to the selected research design, this is the single most important six steps in marketing research, and the step most vulnerable to the typical research errors. Types of analysis that might be performed are simple frequency distributions, cross tab analysis, multiple regression (driver analysis), cluster analysis, factor analysis, perceptual mapping (multidimensional scaling), structural equation modeling and data mining. There are as many reporting styles as there are research reports, but some are definitely better than others, and there are definitely trends to be aware of. So for services, a firm may greatly benefit through proper re-engineering of processes and remodeling the same if required to improve productivity at each stage. Conversely, without a good marketing system (glider), your products (engine) will just be sitting in the warehouse. Sometimes, further definition of the problem or issue is needed, and for that there are several tools you can use. Developing your approach should consist of an honest assessment of your team’s market research skills, establishing a budget, understanding your environment and its influencing factors, developing an analysis model, and formulating hypotheses.

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