Business Chops Tip #49: How Strong Is Your Marketing Chain?

Say the word "marketing" and most people think advertising and promotion. A strong marketing plan covers all seven links in the marketing chain. It is pivotal to the success of your business because it answers the question, "How are you going to hit the numbers?"

The seven links include 1) description of products (goods and services), 2) pricing strategy, 3) promotional methods and costs, 4) place strategy (location, trade area), 5) sales personnel strategy, 6) customer profiles, and 7) description of your competitive environment. The chain is only as strong as the weakest link.

How strong is your marketing chain?

Author's Note: Creative and technical professionals (from musicians and actors to designers and engineers) rely on their "chops": those skills and techniques that they use to be successful on the job. Stiernberg Consulting coined the term Business Chops to encompass those skills, experience, and tactics that you rely on to be more successful. Whether you are a dealer, manufacturer, distributor, rep, or design firm, this series includes tips and techniques for optimizing sales, profits, and growth of your Custom Retail business.