How to Write a Marketing Plan to Focus a Product on Recession-Targeted Health Solutions
In a time of recession, promoting your health products and maintaining sales is a challenging task. But it is still possible to create a recession-proof marketing plan that will consider the consumer and also keep your business afloat. To focus a product in the context of a recession, a market plan needs to include the four P's of a successful marketing strategy: Product, Price, Place and Promotion.
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Instructions
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Conduct marketing research into the product and how the community's demand for this product has been affected by the recession. The research will identify the wants and needs of your current and potential patients and will help you to define your target audience. Analyze the research and use it in determining marketing strategies that will enhance your return on investment.
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Outline your target audience by taking into consideration the first of the four P's of an effective health marketing plan. Use your research findings to create an indispensable linkage between the relevance of the product to its end users or consumers. In a recession, consumers are only interested in health care solutions that will meet their needs head-on without wasteful trials and errors.
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Sell affordability and financing. In a recession, the traditional marketing plan will tend to reduce prices to attract more consumers. This need not always be the case. A targeted health care marketing plan will price its product with reference to capacity of the targeted consumer. Consider including both monetary and non-monetary benefits that a consumer will receive by investing in the product.
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Plan on different locations and channels of distribution for the product. Consumers tend to avoid high-end stores and health departments in a recession; they want a convenient channel of distribution from which they can access the product cheaply. Plan to use distribution channels that are friendly and personal where marketers and distributors interact with consumers.
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Promote your product rigorously despite the recession. Staying out of the marketplace is not an appropriate marketing strategy as it will give your competitors a head start over you. Plan to use targeted media including Internet marketing, mainstream media, journal and audience specific-magazines to market your product. In a recession, the purpose of a marketing plan should be to generate the maximum cost-effective results and return on investment.
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References
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