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Marketing Questions You Must Answer

arketing is identifying what that man and society need. If a product is created that no one needs to buy it used and will not sell out, since that would not be profitable. And if so, production will become unprofitable. Therefore, the shortest definition is that we have identified a benefit needs.American Marketing Association (American Marketing Association, AMA) for the following definition | 25 MARKETING QUESTIONS YOU MUST ANSWER (Before You start selling anything) Objective To explain specifically how you will enter the market, obtain a niche, maintain a market share, and achieve the stated financial projections. What is the Sales Appeal of Your Product/Service? What is special or unique about it? What is your USP ? How Will You Attract and Maintain Your Market? How will you expand it? Over what period of time? What Are Your Marketing Priorities Among Segments and Applications? How Will You Identify Prospective Customers? How Will You Reach the Decision Makers? How Will You Decide Whom to Contact? In what order? What Level of Selling Effort Will You Implement? Why is this the best approach? What Level of Selling Effort Will You Implement? How many salespeople? In-house staff or manufacturers’ representatives? How much direct mail and brochure distribution? How many trade shows? Which ones? What Advertising/Promotion Media Will You Use. Radio Newspaper Trade Journals Magazines Television Exhibitions Direct Mail Email Web What Are Your Efficiency Ratios and Conversion Rates? How many calls are made per demonstration? How many demonstrations per sale? How much direct mail and expected response rate? How many other media ads and expected response rate? What Are Your Efficiency Ratios and Conversion Rates? How Long Will the Activities Above Take? What Will Each Customer’s Average Order Size Be? What kind of repeat orders can you expect? What Are the Quotas and Sales Productivity of Each Salesperson? What is the commission structure? What Are the Quotas and Sales Productivity of Each Salesperson? What is the sales cycle? What are the milestones for meeting sales expectations? What Geographic Areas Will Be Covered? What Will Your Pricing Strategy Be? Will your margins be low or high? What is your margin? % What Will Your Pricing Strategy Be? What will your discount policy be? What will your reseller margins be? How May Pricing Change Over Time? How may | 25 MARKETING QUESTIONS YOU MUST ANSWER (Before You start selling anything) Objective To explain specifically how you will enter the market, obtain a niche, maintain a market share, and achieve the stated financial projections. What is the Sales Appeal of Your Product/Service? What is special or unique about it? What is your USP ? How Will You Attract and Maintain Your Market? How will you expand it? Over what period of time? What Are Your Marketing Priorities Among Segments and Applications? How Will You Identify Prospective Customers? How Will You Reach the Decision Makers? How Will You Decide Whom to Contact? In what order? What Level of Selling Effort Will You Implement? Why is this the best approach? What Level of Selling Effort Will You Implement? How many salespeople? In-house staff or manufacturers’ representatives? How much direct mail and brochure distribution? How many trade shows? Which ones? What Advertising/Promotion Media Will You Use. Radio Newspaper Trade Journals .