Starting your marketing plan

Developing a marketing strategy is not an easy task. Many business opportunities end up failing when we can not link our ideas with the organization’s goals and the resources we have available. That’s why developing a well-conceived marketing plan is key to our success.

Now more than ever, we have to our disposal many more tools and means to create successful marketing strategies that attract consumers, from traditional marketing to digital, we can reach our potential buyers in any platform available. But we don’t want to promote our brands with without a clear action plan, that will allow us to understand where we are as a business, our goals, and objectives, and where do we want to be.

For luxury good businesses, for example, one key strategy comes from the 4 P’s theory and focuses on the product itself. Giving that this industry doesn’t necessarily rely on high volume sales, brands want to have a differentiating factor, high-quality materials, lifestyle, status, etc. They must have a compelling value proposition that talks to their audience and sets them apart from the rest.