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Your marketing plan evaluation

1. Do you use your current marketing plan in your day to day operations?
An efficient business operation categorizes the marketing activities and establishes who will execute the activities, when, and how much each activity costs.
2. Do your marketing objectives rely on last year's performance?
Mature businesses learn to optimize their previous experiences and operations.
3. Does the structure of your marketing plan include a budgeted action plan?
A business should account for the resources necessary to invest into generating profitable sales (Resources are mainly monetary, time, and know-how).
4. Do you feel that you understand the dynamics of your main market?
A stable business has to be involved in more than one market, such as...
5. Do you feel that you know who your direct competitors are?
Direct competition is defined by your clients.
6. Do you believe that you are aware of the demands & needs of your existing clients?
The most profitable businesses categorize their clients by their needs.
7. Do you feel that your offer complies with the demand for your products and/ or services?
In marketing terms, the offer includes the price, the brand, the quality of service, and the attributes of the product and/or services.
8. Do you know what your competitive advantages are?
Your competitive advantages are best defined by your potential and existing clients, and how they perceive your business.
9. Do you tend to turn your existing competitive advantages into marketing opportunities?
Some of the best products and services were created by turning a pinpointed weakness into a marketing opportunity. (example: Viagra)
10. Do you tend to collaborate with other businesses that are not among your competitors?
Advanced key terms: co-promotion, co-budgets, co-branding, and co-positioning

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