Developing and implementing a marketing strategy is a necessary process for a successful business. This process commences as you start your business, and it must remain an ongoing process throughout the life of your business.

The Business Enterprise Centre (sponsored by the Department of Business) offers a free marketing workshop that provides an outline of the marketing process, looks at some forms of market research and sources of market information, discusses market strategies and goals and looks into the elements of a marketing mix. Its aim is to give a general overview of the marketing process.

Here are a few points to help you get started:

  • Know your product or service - what is it that you are offering your customers? Ensure that your staff are aware of what you are selling.
  • Know your competitors' product or service better than they do. In what ways is their products or services better/worse than yours? What trading terms are they offering? Is their location better/worse than yours? What is their pricing structure? How are they adding value to their products?
  • Who are your customers? What is the demographics of your customers?
  • What is the image that you are trying to present to for your customers?
  • Is your market subject to seasonal fluctuations?
  • What is your pricing policy? Is it consistent with your need to develop a required gross profit while meeting your customers' expectations?
  • Do you know how to promote and advertise your business? Have you decided which advertising medium is suitable for you and your business?