1. DEFINE YOUR CONCEPT

• What business are you really in? (Be specific)
• List your service(s) or product(s)
• Define your market position
• Define your desired image

2. YOUR BUSINESS IMAGE

• What business do your customers think you are in?
• What are they buying?
• What compliments or complaints do you get?
• What sells you?
• Customer image of your business

3. UNDERSTAND YOUR MARKET

• Market size
• Trends
• Trade attitudes and habits
• Economic Environment
• Technological changes
• Political/Legal changes
• Social/Culture Environment
• Demographic changes
• Resources
• Skills
• Substitute Markets

4. KNOW YOUR COMPETITION

• Who are they?
• Identify Strengths/Weaknesses
  • Product Line
  • Promotional Mix
  • Pricing
  • Customer Profiles
  • Location
  • Personnel
  • Life Cycle
  • Customer Services
  • Image
  • Operating Policies
  • Purchasing Power
  • Ranking
• Market Share Analysis
• Potential Competitors

5. KNOW YOUR CUSTOMER

• Identify needs, wants and desires
• Customer Profile
• Demographics
  • Age
  • Income
  • Sex
  • Residence
  • Marital Status
  • Family Size
  • Occupation
  • One/Two Incomes
• Psychographics

Activities

• Work
• Entertainment
• Hobbies
• Shopping
• Social Events
• Sports

Interest

• Family
• Recreation
• Job

Opinions

• Social Issues
• Politics
• Products

Expenditure Patterns

• Average Sale
• Frequency
• Monthly/Yearly Purchases

Shopping Habits

• Area
• Time of Day

Buying Behaviour

• Rational
• Emotional

Purchasing Process

• Decision Maker
• Purchaser
• Decision Criteria

Trends
Target Market

You may wish to review your sales and financial records to obtain customer information.

STRATEGIC PHASE

1. PRODUCT/SERVICE

• Product line evaluation
• Customer needs vs. Product/Service qualities
• Product presentation
• Product Life Cycle
• Product Image
• Suppliers

2. DISTRIBUTION

• Channel
• Transportation
• Control
• Incentives
• Feedback

3. LOCATION

• Determine Importance and Factors
• Factors:
  • Customer preferences
  • Services (ie. Parking, access)
  • Traffic count
  • Neighbouring stores
  • Area growth
  • Cost
  • Competition
  • Transportation
  • Image

4. PRICING

• Strategy
• Price vs. Value
• Margin
• Competition
• Discounting

5. PROMOTIONAL MIX

• Advertising
• Sales Promotion
• Publicity
• Personal Selling
  • Evaluate Media, Vehicles (Strengths/Weaknesses)
  • Target Market Analysis
  • Cost
  Advertising
  • Which media best reaches your customers?
  • When should you advertise?
  • How much should you spend?
  • How often should you advertise?
  • What should you advertise?
  • Cost/Benefit analysis
  Sales Promotion
  • What type of sales promotion should you do?
  • What form should it take?
    • Coupons
    • Advertising specialties
    • Samples
  • Cost vs. Benefit Analysis
  Publicity
  • What to say
  • Forms of Publicity
    • Interviews
    • Press Release
    • Public Speaking
    • Community Involvement
    Personal Selling
    • Quality of staff
    • Training of staff
      • Product knowledge
      • Selling ability
    • Dress of Staff
  6. CUSTOMER RELATIONS
  
  • Policy
  • Warranty
  • Services
  • Credit
  7. IMAGE REVIEW
  
  • What sells you?
  • Customer Image
  • Company Image
  • Desired Image
  • Best way to achieve desired image
  Factors:
  • Quality
  • Price
  • Cleanliness
  • Service
  • Reliability
  • Unique service or product
  • Good selection
  • Distinct image
  • Personable
  • Community involvement
  • Convenience
  • Industry contact
  • Knowledge
  • Only one in town
  • Reputation
  • Guarantees