1.
Market Research: Marketing strategists conduct thorough research to understand the market dynamics, customer needs, and competitive landscape. This helps in identifying opportunities and potential challenges.
2.
Target Audience Analysis: They define the target audience by segmenting the market based on demographics, psychographics, and behavior patterns. This allows for more personalized and effective marketing efforts.
3.
Value Proposition: They help entrepreneurs articulate their unique value proposition, which differentiates their product or service from competitors.
4.
Marketing Mix: Marketing strategists outline the
4 Ps of marketing—Product, Price, Place, and Promotion. This includes deciding on product features, pricing strategies, distribution channels, and promotional tactics.
5.
Implementation and Monitoring: They develop an actionable plan with timelines and budgets, and monitor the performance of marketing activities to make necessary adjustments.