Tags: Glamour Magazine Real Life Story Essay WinnersEssay On ProductsSubway Business Plan SampleGlobal Poverty EssayResearch Papers On Environmental IssuesThe Brenner AssignmentAssignment Of Membership InterestBusiness Operations PlanMba Thesis On Strategic Management
This should help you answer questions like: If you did any research when you developed your business plan, you may already have this information.If not, talk to your salespeople and your customer service staff.Without one, you are operating by "seeing what sticks"—not the optimal way to market your business.
The marketing plan is a powerful tool that belongs in your small business arsenal.
If you've been making do without a plan so far, or using a "play it by ear" approach, you're missing out on boosted revenue. A plan focuses your best efforts on activities that move your business forward.
It will help you understand yourself and your customers.
Writing it down forces you to think through tough problems, come up with repeatable solutions and positions you for success.
Look at recent financial reports, current and past sales numbers and your product and services list.
You'll also want to gather together information about your target market.In marketing parlance, marketing strategies fall within what's known as the four Ps: product, price, place (distribution) and promotion.For a typical small business, promotion will form the bulk of your strategy.These are the employees who engage with your customers on a daily basis, and their feedback will give you valuable insights about your customers and prospects.Fill any gaps by talking with your employees and researching publications from trade and professional associations specific to your industry. Are any recent major developments affecting your distribution channels? Once you have the specifics down, consider what you can do to reduce the impact of these threats.Once you've gathered market research, it's time to prepare your Market Overview section. What strategies are they using and how are they positioning themselves in the market? What kind of an impact do they have on your business? Now that you've described your current market situation and analyzed how various aspects of it affect your business, it's time to set your marketing objectives. Think of your marketing objectives as answering the crucial questions: What is my plan going to accomplish? Some examples of common marketing objectives include: It's a good idea to make each objective conform to the SMART goal criteria.Begin this section with a description of your market as it currently stands. Include details about sales, prices and gross margins. SMART = Specific, Measurable, Attainable, Relevant and Timely. To align both you need clear, measurable objectives.This is the first thing someone sees when they read your marketing plan but it is the last thing you write. Once you have a basic overview of your current market situation, it's time to take a closer look at your market environment. First, identify those trends that might present you with challenges. There will also likely be market trends that provide you with opportunities or benefit you in some other way.The Executive Summary outlines all the major points of the plan itself, so anyone in management can pick up the plan and get an idea about your vision. Identify these trends and describe the positive impact they could have on your business and how you can take advantage of them.You want to address how you'll implement your strategies and achieve your objectives by breaking things down into action steps or smaller goals.You already did a bit of this when you considered the implementation methods you would use for each marketing strategy.