Formulating a Marketing Strategy

Here are a few of the questions Susan Hewitt, the founder of Blythe Hewitt Associates in San Francisco, tells her startups they must be prepared to answer when they are formulating a marketing strategy:

  • How far are you along in product development?
  • What’s your category? Is it a new category, or a crowded category?
  • What are your current marketing goals? Introducing the product? Adding the product

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Evaluating a New Distribution Channel

The following six questions are helpful in evaluating the opportunity presented by the new distribution channel:

  • How attractive is the value proposition that the new distribution channel gives our target segments?
  • Is the proportion of our target segment attracted to the new channel large enough to demand our attention?
  • Do we have a differentiated value proposition or an operational advantage in serving customers through

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Discounting Questions

To cultivate discount awareness and discipline, managers should start by asking themselves the following questions:

  • Are discount dollars being invested in the customer segments and product categories that provide the greatest strategic value to the company? For that to be so, discount guidelines for each segment and category need to be established in advance of negotiations.
  • Do discount levels associated with a particular customer segment

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Conversational Marketing

Many companies are not ready for the changes conversational marketing brings. They face three critical issues.

  • What types of dialogues and other customer interactions must be created to support true customer conversations?
  • How can the company determine and implement a conversational style that is aligned with the customer’s needs and based on a cost-effective set of new technologies?
  • Who inside and outside the company

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Advertising and Promotions Questions

  • How large are the differences in our company’s A&P investments, as a percentage of sales, for each brand, market segment, and region or country?
  • Is there a clearly defined strategic rationale for these differences (or for the lack of differences)?
  • Are the differences in intensity and sensitivity of advertising and promotions among the various market segments and countries adequately acknowledged?
  • Are the differences in our competitive

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Pricing Questions

  • Do you know what would happen to your bottom line if you raised (or lowered) prices by 1 percent?
  • Do you know which of your customers are – or are not – price sensitive and why?
  • Where are the pricing leakages occurring in your company?
  • What functions or departments control the final pricing decisions?
  • How could you change your pricing mechanisms to build your advantages?

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Top 10 Advertising Questions

  • How do I know how much to spend on advertising?
  • How do I evaluate the effectiveness of my advertising?
  • How can I learn more about my target audience?
  • How do I evaluate the efficiency of different media?
  • How do I make certain that my ad will pull?
  • What’s more important: reach or frequency?
  • How do I know which medium works best?
  • Should I run a big ad once or several smaller ads

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