Your Marketing Plan - Viability Analyses discussed the array of viability analysis models which evaluate the broad market and business environment for suitability to conduct business.

Having carefully weighed the various models namely Target Segment Analysis, Product life cycle, Competitive Advantage Model, Product Growth Directions as well as the BCG Matrix and concluded the broad business strategies to adopt, we are now ready to explore Your Marketing Plan Marketing Mix.

Your Marketing Plan - Marketing Mix will help you investigate your Marketing Mix (4Ps), Internet Marketing, Integrated Marketing Communications, Marketing Budget plan as well as Marketing Implementation plan.

Value Proposition > Unique Selling Point (USP) >> The Positioning Statement

Value propositions are product characteristics turned benefits. Your Value Proposition must be clear and to the point. Having defined your value proposition, you can craft the UPS. With creativity, you then come up with the Positioning Statement. Of course, your positioning statement must map to match your target segments identified in Part 1 of your marketing plan.

Marketing Mix (4Ps)

A major part of the Marketing Plan is the 4Ps which essentially denotes Product, Pricing, Promotion, Placement decisions which interplay to cumulatively create compelling value proposition, UPS and positioning statement for your potential customer.

1. Product

Product decisions defines the real physical product characteristics which might include your product brand name, quality, packaging, functions, after sales services, etc

!!! Product benefits give rise to USPs which allow you to provide your customers with a compelling purchase reason.

2. Pricing

Pricing decisions includes list, retail, wholesale, seasonal pricing, volume discounts, early-bird discounts, bundled pricing, flexible pricing, consignment options etc.

!!! Depending on your viability analysis strategies and in particular, your Competitive Advantage strategy and which you adopt in Marketing Plan Part 1, you might consider pegging your pricing with a cost leadership model, or cost focus model.

3. Placement

Placement Decisions essentially means distribution channels which you utilize to bring your products to your customers. Extent of coverage in your market could be defined by inclusive or exclusive or selective distribution. Distribution and warehousing centers, inventory management as well as logistics. Internal extension of sales distribution is a common consideration.

If you are selling mass retail products, you might consider using a broad network of distributors to maximize your sales, hence the inclusive distribution approach. You may also need to decide on applicable warehousing, inventory and logistics methods which fit your mode of operations and budget.

4. Promotion

Promotions decisions is the final phase of the Marketing mix which, to certain extent could make or break a product. This is the phase whereby you successfully communicate your product to your target segments with communication tools available. Your promotional mix includes Advertising & Promotions, personal selling, sales promotions, public relations and publicity as well as sponsorships. Essentially, what promotional mix you apply to your business is largely determined by your marketing communications budget.

Advertising strategies were traditionally considered to be an expensive medium, and it still is. One can, however, consider cross "advertising", or what I might consider "barter-advertising" by cross-advertising in a collaborative channel partner’s newsletter and allowing your partner to cross-advertise in yours. Internet advertising if controlled well, could also generate better lead to sales potential.

Personal Selling strategies not only include individual sales persons, but more extensively of late - telemarketing as well as direct-marketing. To cascade you sales more exponentially, you may consider a mix remuneration package combining the benefits of network marketing model and the traditional sales force structure. (of course, do ensure clearance for authorities as certain countries may impose restrictions to this mode of sales structure)

Publicity is initiated by your company. It is the deliberate attempt to manage the public’s perception of your company or products. Publicity is internally created news for external dispersion to subtly portray the desired positive image. Publicity activities include speaking engagements at public seminars, contests, exhibitions, testimonials, interviews with the CEO, award presentations etc. Publicity could also take the form of free featured news and business information in trade magazines and websites to enhance company’s positioning. Sponsorship is a very effective exposure tool for the company, and monetary benefits could be exchanged for database listing from participant lists.

Events management is a tool which many marketers tend to ignore and believe that they can manage the process should they be required to do so. Event management should instead be viewed as a tool for lead generation as well as positioning your business. Sometimes it can be closely tied to sponsorship where organizing events become a part of the "package". Very few materials have been written in this area whereby ready-to-use templates may be tweaked to fit your business process.