Page 352 - Duct Tape Marketing

336 Part VI: The Part of Tens

Step 10: Think Long Term

In the final section of your marketing plan, include a list of market develop-
ment opportunities that you will research over the coming year for possible
action in future marketing plan periods.

Some ideas can’t be (or shouldn’t be) rushed into. Spend some time as you
produce this year’s marketing plan to think of what ideas you want to research
for possible implementation over the course of next year’s plan.

Your long-term planning might focus on the development of one or several of
the following areas:

ߜ New or expanded business locations to serve more consumers
ߜ New geographic market areas outside you current market area
ߜ New customers different than those represented by your current cus-

tomer profile
ߜ New products or product packages that will inspire additional purchases
ߜ New pricing strategies
ߜ New distribution channels
ߜ New customer service programs
ߜ Mergers, business acquisitions, recruitment of key executives, and for-

mation of new business alliances

Choose one to three opportunities to explore and commit to producing an
analysis before development of next year’s marketing plan begins.

One Final Step: Use Your Plan

This step is the easiest to state and the most important.

Use your plan.

Share it with key associates. Provide it when you give background informa-
tion to your ad agency. And use it to keep yourself on track as you manage
your business to marketing success.