Page 350 - Duct Tape Marketing

334 Part VI: The Part of Tens

See Chapter 3 for information on analyzing your product line, enhancing
the appeal of existing products, and developing new products.

ߜ Distribution strategies: Will you be altering the means by which you get
your product to your customer? Will you be partnering with other busi-
nesses or opening additional outlets for off-premises sales? Will your
Web site play an expanded role in getting your message or product to
customers?

Chapter 2 includes a section on how to analyze distribution channels,
along with advice on how to respond if a distribution channel begins to
taper off in volume.

ߜ Pricing strategies: Are you considering new payment options, a new fre-
quent buyer pricing schedule, quantity discounts, rebates, or other pric-
ing offers? Maybe you have a service business and this is the year you
need to amend your rate structure.

Chapter 3 includes pricing facts to consider, along with advice for build-
ing a pricing strategy capable of bringing in new business rather than
simply cutting prices on purchases by existing customers — and erod-
ing your bottom line as a result.

ߜ Promotion strategies: This part of your marketing plan describes how
you will support your marketing strategies through advertising, public
relations, and promotions.

For example, if your product strategy calls for a new product introduc-
tion, your promotion strategy needs to reflect that effort through a new
product promotion campaign.

Once your strategies are set, you can spend time implementing an orches-
trated and well-planned marketing program rather than frantically reacting to
far-flung ideas all year long.

Step 7: Outline Your Tactics

The next section of your marketing plan details the tactics you will employ to
implement your strategies. For example, if one of your strategies is to intro-
duce a new product, the sequence of tactics may look like this:

ߜ Review and select an ad agency; develop and produce ads.

ߜ Develop a direct mail program and direct mail list.

ߜ Develop a product brochure.

ߜ Develop a publicity plan.