Discover Why Preparing a Marketing Plan is an Important Step in Completing Your
Business Plan

Preparing a marketing plan is the most important section of a Business Action Plan. Providing the foundation for your business. Take your time in developing your plan. One tailored for your business. Providing the road map to consistent sales growth.

You must become knowledgeable about your market in order to make it a valid plan. Each product or service will need its own marketing strategy as part of the total business marketing plan. Including frequency and theme.

No business is too small to have a marketing plan. Every business needs customers. Take your time preparing a marketing plan for your business.

Plan your success story...

What is a Marketing Plan

A Marketing Plan by definition details the necessary strategies to achieve your marketing goals and objectives. The purpose of marketing is to inform, persuade customers about your product or service. When planed properly it will provide direction your business. Satisfying your customers wants and needs. Help you develop the product/service they want. Providing the who, what, where, when, how, why of your business.

Your marketing should carry a consistent message about your product or service.

Components of Marketing Plan

The main components of a marketing plan:

The Foundation
Customer Profile
Competition Evaluation
Advertising and Marketing Strategy

The Foundation

The foundation of your business begins at your unique selling position. What sets your product or service apart from everyone else’s...

The message you want your customers to know about what you offer. The very heart of your marketing plan.

Customer Profile

Review your customer profile. You will need to answer several basic questions.

Who would use your product and what need does it satisfy? Include the profile of your typical customer. Age, sex, annual income, buying patterns. Why would they buy from you.

What is the current and projected demand for my product/service?

How will I price my product/service? The primary consideration is the value that it represents to the customer. Detail your pricing policy. How did you arrive at your price? Check out your competitions prices. What is unique about your product/service?

How will you sell my product/service? Adds, ebay, website, online, store.

How will you distribute my product/service? Direct Sales-retail or online,Mail Order, Franchising-buy one or create your own. Affiliates.

What will your advertising accomplish. Establish advertising goals.

What types of advertising are appropriate. Include estimated costs.

Geographically describe your selling area. Town. City. State. Country. Global.

Can you track results? You need to know if you're making money or loosing.

Your Competition

Identify and get to know your the competition. Include similar competitors. Provide the following information for each of your competitors:

List names, locations, products or services.

How are their businesses similar to yours?

How does your "niche" make your service or product better or appealing than your competitors?

How is their businesses doing? Is it growing? Steady? Decreasing? Why?

What have you learned from observing their business? What would you do that they are not?

Can you target your maketing plans with the information you have learned?

What percent of the market share can you take? Be realistic. Estimate dollar amount. Volume.

Advertising and Marketing Strategy

How you'll reach your prospective customers. Providing your prospects with your Unique Selling Position. What tools will you use to reach them. Your budget will effect the media and tools you will use.

Based on your budget, what media should be used? Internet, TV, Radio, Newspapers, Phone Book.

Where can your customer be reached? Trade shows, Magazines, Associations, Internet, Websites, etc.

How does the media used effect your budget?

How can the advertising program be implemented?

How can you track the effectiveness?

Marketing Budgets are almost non-existent for most work from home businesses. But that does not mean you can not create an effective marketing plan strategy.

Be creative. There are free and inexpensive methods that can still provide you the returns you need. Find ways to make money off your marketing efforts. And turn you marketing expense into a profit. Fueling your own marketing budget. Keep reinvesting until you get the results you want.

Publicity and Partners

What will you use. Product launches, special events, writing articles, blogs, referrals, testimonials. Make sure you keep the theme consistent.

Who can help with your marketing? Affiliates, Joint ventures, distributors, ebay.

Moms Work from Home Tips

Random marketing attempts are certain to fail. Consistency and repetition is the key to your marketing success.

Save yourself a lot of time and money later. Put as much detail as you can into preparing a marketing plan for your business.

The Next Step

The next step to complete for your Business Action Plan is the Operational Business Plans What to include....

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