Why do you need a Marketing Concept?
The marketing concept describes a guide in which the status quo is analyzed, the marketing goals, marketing strategy, marketing budget and all marketing measures and marketing controls are defined. The marketing concept helps to understand the opportunities and risks and to achieve the marketing goals faster and more efficiently in order to ultimately maximize sales.
Structure and content of a marketing concept
A marketing concept is by definition the product-related research, implementation and sale within a company. The content of a marketing concept includes the three most important factors that are related to each other: manufacturer, product, customers.
If manufacturers develop innovative and high-quality goods, the end result is a good product . A good product on the market that manufacturers present conspicuously ensures that many customers buy the product . If the goods or services are sold in large numbers , the company or startup will ultimately benefit and can therefore invest in new products again. What used to be quite banal under the terms advertising or advertising has developed into a relevant tool for increasing profits.
That is why the marketing concept is often referred to as the most important factor, the core element or the heart of marketing. Particularly unusual start -up projects work with a sophisticated marketing strategy. The structure of a marketing concept can basically be divided into the following stations: initial position → implementation → result, with a few additional factors particularly in the aspect of implementation. Since product marketing has evolved so much, you will find many examples of marketing concepts. The 6-phase model has established itself best .
The Marketing Concept in 6 Phases
For a holistic marketing concept, it makes sense to work with the 6-phase model. With this roadmap, you develop the necessary needs in six stages to get from the product idea to the product sale.
Step 1: Situation analysis
If you want to initiate a strategic marketing concept, you should start with a detailed situation analysis. Here you compile the status quo for your product or service. In this first phase you use certain analysis techniques to answer the following questions:
- Competitive Analysis : Look at your competition
- What companies are in the market that offer the same product or service?
- Audience Analysis : Define your customer base
- Who is interested in your product or service?
- Can you assign your target group to a specific age group, professional group or gender group?
- Does your target group consist of private customers (B2C: Business to Customer) or companies (B2B: Business to Business)?
- What are the needs of the target group?
- SWOT Analysis: Compare internal strengths and weaknesses with external opportunities and threats to your operation.
- What can your company do well and what challenges can you face?
- SWOT: Strength – Weakness – Opportunity – Threat. You can find out more about this on this page.
Step 2: Marketing Goals
In the second phase, you deduce the marketing goals from the situation analysis . Because: a modern marketing concept within a company only makes sense if it results in profitable corporate goals . Make the following considerations:
- What benefit do you get from the marketing measure?
- How does the marketing concept contribute to the success of your company?
- Does the marketing campaign generate an increase in sales?
- Do you improve your appearance to the outside with the marketing concept?
- Does the marketing program bring in new customers?
- Can you increase customer satisfaction with your marketing plan?
Step 3: Marketing Strategy
In order to create a target-oriented marketing concept, you need an innovative strategy. You can choose from various strategic approaches . You can choose between classic or online marketing concepts:
Classic marketing activities:
- Direct marketing: This is probably the most classic form of marketing. Here you write to potential customers individually and personally via a cover letter. You should pay attention to how you have to write a good offer .
- Experience marketing: Here the target group can actively try out the product or service in connection with an event.
- Marketing through trade fair stands: You can register your company at various trade fairs and thus advertise.
- Voucher marketing: The incentive in the voucher is that you acquire potential customers with discounts.
Online marketing concepts:
- Influencer marketing: In this case, well-known influencers test and promote your product or service.
- Social media marketing: With profiles on various social networks you can present your product or service well. Make sure you’re using the virtual media your target audience is using.
- Affiliate Marketing: In this method, you work with publishers who write an article about your business on their Advice page.
- SEO marketing: By optimizing your homepage texts, you achieve a higher display potential via search engines.
Depending on which strategy you choose, the costs of your marketing concept will also vary.
Step 4: Marketing tools
After you have decided on either a classic or modern marketing measure, you must define further aspects in relation to the presentation of your marketing concept. Only when you have carefully carried out the first three analyzes can you think about the product launch in your marketing concept. You can do this with the 4-P scheme:
1. Product policy (P-1: product)
- How is your product designed?
- Brand name?
- Packaging?
2. Price policy (P-2: price)
- How high or low do you set the price?
3. Distribution policy (P-3: place)
- How and at which locations do you place your product on the market?
- How do you distribute your product/service on the market?
4. Communication policy (P-4: promotion)
- How do you communicate your development on the market?
- What marketing strategy do you use?
Step 5: Marketing Mix
The 5th step, the so-called marketing mix, is about the implementation of the defined marketing measures from step 4. This combines the 4 factors that you considered independently in the previous phase.
Step 6: Marketing controlling
The last component of a marketing concept is marketing controlling. Here you reflect the entire process of your marketing concept:
- What goals have you achieved with your team ?
- Which ideas or resolutions could you not realize?
- Were deadlines taken into account?
- Was the financial budget properly adhered to?
- Did the responsible employees successfully implement the plan?
Conclusion
To write a successful marketing concept, all steps revolve around the product and your target audience . To start, analyze the current situation on the market , especially in terms of demand and competition. Then formulate goals that you want to achieve with the marketing concept. In the following, you decide on a suitable strategy so that you can address existing customers and reach new prospects. With the necessary tools , you determine how you design your product. In the marketing mix , you bring all analyzes together so that you can successfully implement your conception. In the last step, you evaluate your marketing project to define successes and determine possible improvements for the next campaign.