Creating A Marketing Plan For Your Business In 3 Easy Steps
Business today does not happen based on chance. In fact, due to how insanely competitive businesses are these days, most start-ups don’t make it past their first year. For these and many more reasons, every business should have a solid business plan. A marketing plan includes numbers, facts and objectives, but it is not primarily numerical; it is strategic. It is your plan of action – what you will sell, to whom you will sell it and how often, at what price, and how you handle distribution.
1. Define Your Product Or Service
Moreover, define how you will differentiate yourself from the competition that is currently out there. The more clearly and succinctly you describe your product in your marketing plan, the better you will communicate with your target customer. Markets and products have become extremely fragmented. There are hundreds of special interest magazines, for example, each targeted to a very specific market segment. It’s the same with restaurants, cars and retail clothing stores, just to name a few industries. Positioning your product competitively requires an...
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