Step 1: Consumer Analysis

 

Before you market anything, you need to know who you’re marketing to and why they would care. This is about understanding the consumer buying process and product involvement.

 

Key Concepts:

 

Buying Process: What triggers a consumer to buy? Is it impulse, need, or timing? Every product fits into a consumer’s journey differently, and your job is to understand where your product fits.

 

Product Involvement: High-involvement products (like real estate or software) require education, trust, and nurturing. Low-involvement products (like snacks or low-cost apps) are bought on impulse.

 

Actionable Tip: Conduct interviews and surveys and analyze customer feedback. Get crystal clear on the problem your product solves and how customers decide to buy.

 

Step 2: Market Analysis

 

Now that you know the who and why, it’s time to figure out where they are and how to reach them. Market analysis divides the broader population into segments so you can target the most profitable groups.

 

Key Concepts:

 

Segmentation Variables: Identify segments by demographics, behaviors, and interests. For instance, if you sell premium headphones, your segments might be “music lovers,” “remote workers,” and “gamers.”

 

Relevant Market: Not everyone is a potential customer. Your relevant market is the subset of the population that is ready, willing, and able to buy.

 

Need Categories: Think about the many ways your product or service can be used. A product like baking soda isn’t just a baking ingredient—it’s also a cleaning agent, deodorizer, and personal care item.

 

Actionable Tip: Conduct surveys, create customer personas, and run social media polls. Don’t just guess where your audience is—ask them directly.

 

Step 3: Competition Analysis

 

Competition is fierce, and if you don’t know where you stand, you’ll get left behind. The goal is to understand your market position relative to your competitors and figure out how to stand out.

 

Key Concepts:

 

S.W.O.T. Analysis: Identify your strengths, weaknesses, opportunities, and threats. Maybe you have faster shipping than your competitors (strength) but less brand awareness (weakness). Turn that knowledge into strategy.

 

Perceptual Mapping: This visualization tool helps you see how your product is perceived relative to competitors. For instance, are you seen as “premium” or “budget-friendly”? Are you “tech-savvy” or “traditional”?

 

Actionable Tip: Create a competitive analysis chart. Identify 3–5 key competitors and compare their strengths, weaknesses, pricing, and brand positioning to your own.

 

Step 4: Distribution Reviews & Choice

 

How your product or service gets to your customers is just as important as the product itself. The wrong channel can eat into your profit margins or slow down delivery.

 

Key Concepts:

 

Channel Margin Mathematics: Every layer of the distribution chain takes a cut. Do you want to sell directly to customers (higher profit, higher effort) or through wholesalers (lower profit, lower effort)?

 

Distribution Strategies: Will you be exclusive (selling only to select retailers), selective (a few outlets), or mass-market (as many locations as possible)?

 

Channel Power: Who holds the leverage in your distribution chain? For instance, if you rely on Amazon, you have less power than if you sell directly to your customers.

 

Actionable Tip: Look at where your competitors are selling their products. Can you get listed in those same places, or is there a unique channel (like a subscription box) that could work better for you?

 

Step 5: Develop a Marketing Mix

 

This is where everything comes together. You’ll craft your plan using the 4 P’s: Product, Price, Place, and Promotion.

 

 

Key Concepts:

 

Product: Refine your offering. What features set it apart? How do you explain its value?

 

Price: What pricing model makes sense? Value-based pricing, cost-plus, or penetration pricing?

 

Place: This refers to the platforms, stores, and locations where customers encounter your brand.

 

Promotion: How will you get the message out? Email marketing, social media, content marketing, or paid ads?

 

Actionable Tip: Create a one-page marketing strategy for each “P.” Be clear on how you’ll address each one and the metrics you’ll track to measure success.

 

Step 6: Evaluate Economics

 

The economics of marketing are simple—are you making more than you’re spending? But getting there requires precision.

 

 

Key Concepts:

 

Advertising Measures: Metrics like reach, frequency, GRP (gross rating points), and TRP (target rating points) help you measure the impact of your advertising.

 

Pricing Strategies: Are you using penetration pricing (low to start) or value pricing (high to signal premium quality)?

 

Break-Even Analysis: How many units do you need to sell to cover your marketing expenses?

 

Actionable Tip: Set a marketing ROI goal. For every $1 you spend on marketing, how much do you want back? Then, track performance with software like Google Analytics or Facebook’s Ad Manager.

 

Step 7: Revise and Start Over

 

No plan survives first contact with reality. Markets change, customer needs shift, and what works today may not work tomorrow.

 

 

Key Concepts:

 

Review and Adjust: Look back at the data. Did you reach your goals? If not, identify where things went wrong.

 

Document Learnings: Capture what worked and what didn’t. Don’t just “move on”—improve.

 

Actionable Tip: After each marketing campaign, run a “post-mortem” meeting with your team. What can you replicate, and what should you never do again?

 

Closing Parable: The Archer and the Target

 

There was once an archer who practiced daily in the woods. Every morning, he shot 100 arrows at a target. But here’s the twist—he never used the same target twice. One day it was a tree, the next a rock, and the day after, he shot into the air, hoping to hit something.

 

Another archer trained nearby. This archer focused on a single target—he set up a bullseye and aimed at it every single day. His shots weren’t always perfect, but with time, his accuracy improved. His focus allowed him to refine his aim, his posture, and his confidence.

 

Which archer do you think became a master marksman?

 

Your marketing strategy is the same. If you’re constantly switching goals, changing targets, and chasing “what’s trending,” you’ll waste energy, resources, and opportunities. But if you create a clear target using the 7-step framework, you’ll sharpen your aim, hit your mark, and turn every copper penny into a shiny nickel or dime.

 

The lesson is simple: Stay focused, stay consistent, and aim with intention. Master these seven steps, and you’ll become a marksman in marketing—hitting your targets with precision, no matter the competition.