From marketing strategy, marketing plan to effectiveness analysis

[aminaas1575]

Marketing planning STEP 1: Find out the brand value internally and analyze environmental trends externally
Only by knowing yourself and the enemy can you win every battle. The first step in formulating a marketing strategy is to understand the current situation. At this stage, the brand can understand its own strengths and weaknesses through SWOT analysis , further use TOWS analysis to see the company's potential, then use PEST (EL) analysis to observe the industry environment, and use five forces analysis to identify all competitive forces in the market.

Take the well-known beauty brand Paula's Choice as an example. During the SWOT analysis stage, Paula's Choice may have found that its brand advantage lies in the product itself. In the PESTEL analysis, it was found that Taiwanese people rely on LINE. Finally, due to the five forces analysis, they realized Threats of other competitors and possible substitutes.

Through these analyses, brands can be helped to determine the correct strategic direction. Paula's Choice decided to adjust its marketing strategy in 2023 and switch to LINE for conversational marketing. Within one iraq whatsapp phone number year, the average customer order and member retention rate increased by as much as 10%!

(Read the complete case: "Paula's Choice" LINE Marketing 3 stages to cultivate high-value customers, monetize traffic and increase customer orders )

Marketing planning STEP 2: Lock in the main market and target customer groups
After seeing the situation clearly, it is never a good idea to invest blindly. Choosing the battlefield is the first priority. When resources and budgets are limited, brands can use STP analysis to determine clear target customer groups, isolate more precise exclusive markets, and focus on marketing based on the preferences of this consumer group.