Manufacturing businesses need marketing strategies too. There is usually a lot of emphasis on the manufacturing, the core of the business. Everyone loves to make the widget. But without a buying and paying market, there is no need to manufacture anything.
How strong is Marketing in your firm? Here, I am talking marketing strategy, not simply promotional activity. Do you perform strategic analysis and action on a continuous basis? Do you look ahead, to determine potential competitor moves? Are you ready for them?
Do you know what your target market is? Do you know why they buy from you? Do you REALLY know? Is your knowledge based on your company’s beliefs or is it verifiable with market data?
Are your marketing materials created with the customer in mind? Do you use your company terminology or your market’s terminology? Do you know? Are you organized by manufacturing lines, or by real market segments? That is, market segments that have unique buyers and buying behaviors?
And this is just a start to a comprehensive market-driven approach for a manufacturing firm. Picture Starbucks in a manufacturing setting. This is the goal.
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