Marketing Assessments

Market Progress International can perform a market assessment to review process, documentation, and effectiveness in the formation and delivery of marketing programs and product strategy:

• Market research and planning
• Business analysis
• Product strategy
• Competitive audit
• Customer assessment
• Pricing analysis
• Sales tools and training
• Promotion planning
• Customer acquisition and retention

Customers

• How many of them are there?
• What are they buying?
• What practical problems do they try to solve?
• What emotional problems do they try to solve?
• What is the size of your market?
• What is your customer’s price point and other economics?
• Exactly what does it take to win an order?
• How long does it take to win an order?
• Exactly how do customers use competitive products?
• What’s the current satisfaction with competitors?

Market Segmentation

• Group customers (needs, industry, distribution, geography).
• Narrow the targets.
• Select targets.
• Label the segments.
• Consider the similarities and differences. Anything missing?

Competitors

• What are they doing now?
• Where do competitors advertise, and how often?
• What is their sales pitch?
• How do competitors price?
• How do they distribute?
• How do competitors position themselves?
• How do competitors react to threats?
• How do successful competitors differ from the lesser?
• What are their market shares?

ompare competitors to your organization in terms of your:

• Strengths
• Weaknesses
• Opportunities
• Threats

Product Position

• Differentiate your product and your service.
• Find the opportunity.
• Describe your products.
• Describe your customer’s pain.

If Possible, Do Market Testing

• Show product and promotional concepts to customers.
• Double check.

Make Strategic Decisions

• Decide on new revenue growth and profits.
• Decide on new product development.
• Decide on price.
• Decide on sales force, distribution, service.
• Decide on customer psychological factors, not features and benefits.
• Decide on product promotion.

Write an Action Plan

• Pert chart on product development.
• Calendar of planned media.
• Budget

Implement Your Plan

• Hold routine meetings to review progress on sales leads. Provide a lead tracking system. Leave nothing to chance. Revisit your plan and update.