There are many key components that a client would consider in marketing. I think the three most important components of marketing are Market Research, Target Market and Product or Service. I think these three components will have the greatest impact on a marketing strategy. The value of the plan will most likely determine the success of your business.
Market Research is vital to a good marketing strategy. There are plenty of things to consider when conducting market research; however knowing whom to target and their needs is the most important thing to consider. With out knowing who to target you strategy could be pointless. You could waste manpower and energy with your marketing strategy without identifying your target market. When conducting market research you mainly want collects as much information about the market you are trying to target. All other aspects of a market strategy could be perfect, but if your target market isn’t correct then the plan is useless. You need to identify where your product or service fits in the market. You could meet the customer demand that a competitor may not be satisfying.