Research Must Precede Strategy

Marketing research must precede brand strategy -- period. The best strategies are based on extensive research. Qualitative research can provide insights regarding beliefs, values, attitudes, hopes, fears, anxieties, dreams and other core motivations. It can also help you understand how the category is perceived and how each of the brands in the category are perceived. Customer segmentation studies can help you dimensionalise your market and discover the most lucrative customer segments for your brand. Brand positioning research can help you understand what your brand stands for and whether and to whom that matters. It can also help you discover competitors' vulnerabilities and brand positioning gaps and opportunities. There is also brand equity research, brand asset mapping, brand extension studies, logo research, advertising effectiveness studies, and more. 

I have successfully crafted strategy for more than 200 well-known brands. From that experience, I can tell you that there is a direct correlation between the quality of a brand's strategy and the amount and quality of research that preceded it. It's that simple. Sometimes clients want me to help them craft the strategy without the research. That is a mistake. So, consider this to be an admonition from a veteran of the process. 

For a complete course on brand research, follow this LINK. 

Anatomy of a Marketing Plan

A marketing plan is a request for funds in return for a promised level of incremental revenues, unit sales, market share or profits. One can develop marketing plans for products, services, market segments or brands. The critical components of a marketing plan includes the following:

• Summary
• Objectives (attract new consumers, create new uses, increase share of requirements, incent trial, encourage repeat purchase, encourage add-on purchase, increase awareness, increase loyalty, change value perception, increase emotional bond, extend into new product and service categories, etc.)
• Situation Analysis
• Market analysis
• Competitive context
• Customer profile (segments, needs, attitudes, behaviors, insights, etc.)
• Strategies and tactics (touching upon all key marketing components that will be used: product, packaging, pricing, distribution, advertising, publicity, sales promotion, social media, selling, etc.). Be specific.
• Operations considerations (impact on plant capacity, need for new assets, etc.)
• Financial projections
• Pro forma profit and loss statements, balance sheets, cash flows, etc.
• Including funds required to execute plan
• Supporting customer research (qualitative research, concept testing, volumetric modeling, market test results, etc.)
• Risks and contingency plans