annual planning

Review Your Product and Service Assortment

Review Your Product and Service Assortment

Your assortment is made up of the products and services that you offer your customers. Some industries require frequent product line adjustments, but most large products and services companies review their assortment annually. Through the product assortment review process, you can determine which products and services in your offering no longer meet the needs of your customers, which items are your best sellers, and where you might be able to alter your pricing to maximize your profit on your current offering.

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Review Your Marketing Efforts and Plan for Next Year

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Review Your Marketing Efforts and Plan for Next Year

Tracking your marketing campaigns while they run is always a good idea. Tracking campaigns allows you to make changes midstream, especially for social media and other digital campaigns. It is also a good idea to compare all of your campaigns at the end of the year to measure the results against one another and determine what you want to run again v. what was not beneficial. December is a great time to review what worked and didn’t work in your marketing for the current year and to create a plan for the year ahead. If you do the comparison review first, you can use the things you learned this year to make next year even better for your business.