Marketing Review

How do we go about doing a marketing review

Initially the carrying out of Market Research will allow the identification of emerging trends and developments within the photographic sector you have chosen, competitors, and will also show who the customers or clients are likely to be. Finding the information can be time consuming but there are many reports, statistical data and information on the internet available, some free, some for a fee. Finding information on your competitors can be done from a wide range of sources such as:

trade press,
trade fairs,
trade associations,
customers,
distributors,
suppliers,
books and libraries,
market reports,
government publications,
local and national press,
annual company reports,
local phone books and directories,
websites etc.

Of course there are also Market Research companies, who can carry out surveys and marketing questionnaires and other similar services but their services will involve a fee, and much of what they can do, you can do yourself. The only benefit of using a Market Research company is that it is their business and they do it routinely so have the knowledge to carry out the task efficiently.

From the research carried out it should then be possible to put together a marketing plan. Within this document include:

an outline of the emerging trends and development
identify the businesses aims for the future
set targets
state how the business will achieve these goals.

A good plan can save money in the longer term and show clearly the direction the business should take.