What is the first step in developing a marketing strategy?

Before beginning the business, the product or service must be established. This is usually the easy part. Owners and managers are certain they know what they are going to sell. They may also know how they are going to make this item. They could make the item themselves or outsource the creation of the product to another company.

Also, before beginning the business, the owner or manager should determine who will be their potential buyers. For instance, if you are selling baby blankets, your market may be for new mothers. They would need baby blankets. So, the owner or manager must identify the target market. This is due to determining which technology or website will appeal to the potential buyers.

Before beginning the business, the product or service must be established. This is usually the easy part. Owners and managers are certain they know what they are going to sell. They may also know how they are going to make this item. They could make the item themselves or outsource the creation of the product to another company.

Also, before beginning the business, the owner or manager should determine who will be their potential buyers. For instance, if you are selling baby blankets, your market may be for new mothers. They would need baby blankets. So, the owner or manager must identify the target market. This is due to determining which technology or website will appeal to the potential buyers.