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Questionnaire: Marketing Strategy

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Now that you've perfected your product, hired employees, and ramped up production, it's time to market your goods to potential customers. This is a very important part of the process, since a solid marketing strategy can be the difference between success or failure regardless of the quality of your offerings.

Large corporations have the resources to hire devoted marketing professionals, conduct tests with potential customers, and trumpet their message on multiple mass media outlets. But as a small business, you'll need to be more creative and selective with how you connect with your market. Remember, word of mouth (or, increasingly, online social media) is very powerful and essentially free.

Although certainly not an exhaustive list, the following are some items that you may want to consider when developing a marketing strategy or plan for your business, product, or service.

  • What is the purpose of your product?

     

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    (Potential considerations: Does it fix something? Clean something? Do you eat it? Drink it? Does it have medicinal values?, etc.)

     

  • Who is your target audience?

     

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    (Potential considerations: The young? The old? The rich? Men? Women? Children? Teenagers? Spanish-speaking individuals? Tourists? Lawyers? Doctors?, etc.)

     

  • Where will you be selling your product or service?

     

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    (Potential considerations: United States? Europe? Drug stores? Supermarkets? Clothing stores? Internet?, etc.)

     

  • How do you want to advertise?

     

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    (Potential considerations: Television? Radio? National magazines? Local newspapers? Trade Journals? Billboards? Internet? Sky-writer planes?, etc.)

     

  • Who do you want to perform marketing and advertising for your business, product, or service?

     

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    (Potential considerations: Yourself? A professional advertising and marketing firm? Your children?, etc.)

     

  • How much are you willing and realistically able to spend on advertising?

     

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    (Potential considerations: 20% of your budget? 40% of your budget? $1,000? $100,000? $1,000,000? Sky's the limit?, etc.)

     

  • How much are you willing and realistically able to spend on packaging and labeling?

     

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    (Potential considerations: 20% of your budget? 40% of your budget? $1,000? $100,000? $1,000,000? Sky's the limit?, etc.)

     

  • What do you think is your product's biggest selling point?

     

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    (Potential considerations: The price? The unique nature? The color? The durability? The adaptability?, etc.)

     

  • What emotions or sensations do you want to convey as being associated with your product through your advertisements?

     

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    (Potential considerations: Ecstasy? Relief? Comfort? Tasty? Refreshing? Security, etc.)

     

  • How long do you want your advertisements to run?

     

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    (Potential considerations: One day? One week? Ten Months? Ten Years?, etc.)

  • Get a Free Attorney Match

    You could have the best product or service in your industry, but without a solid marketing plan you likely won't find much success. Marketing is the crucial discipline of analyzing your target market. So why would you need an attorney? Even if you don't think you need legal help, a brief consultation with a small business attorney can alert you to certain laws and regulations that may affect how you market your product. Start now with a free attorney match.

    Next Steps
    Contact a qualified business attorney to help you
    navigate the process of starting a business.
    (e.g., Chicago, IL or 60611)

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