Start your mission to set a marketing plan for your wholesale business by analyzing the market’s size you are entering. Think about the scope of the overall market. For example, if you do a business of wholesale cosmetic products, think if the market is the whole cosmetic industry, particularly cosmetic products?
The Interested Market
Within the scope of the entire market’s definition, think of the particular market segment that will be really interested in the product you are selling. This is a very important step, especially when you want to devise a marketing plan that has promising results.
Market Accessible By Distribution Channels
The next step involves analyzing the level of market you can reach through the chosen mode of distribution. If most of your customers make retail store purchases, how about reaching the market through direct mail? If the competitors are only depending on a sales force, analyze the size of the market that can be reached with the help of telemarketing.
Market Segment Purchasing Competitors’ Items
Once the direct competitors have been identified, the size of the market investing in the competitor’s products should be gauged. Do you think you’ll be able to gain more profits by making changes to your marketing plan based on this analysis? Think about it...
Market That Can be Served
Think about the limit of production that can be realistically served by your company. If your supply capacity is limited to a few hundred in an overall market of millions of customers, you’ll have to work on your marketing plan accordingly.
Market That Can Be Reached Through Advertising
Another aspect to consider is the size of the market that can be reached through advertising. Analyze the size of market that you can reach by gauging your marketing goals as well as budget.