The document provides guidance on developing an effective marketing plan. It outlines 10 key elements that should be included: describing the business, conducting a situational analysis, defining customers, strategizing market entry, forecasting sales, defining a marketing budget, integrating marketing communications, identifying sales channels, tracking marketing activities, and evaluating progress. The marketing plan is presented as a strategic document to guide a business and coordinate its marketing efforts.
A marketing plan should outline goals and strategies for the coming period. It explains past marketing performance and the external market context. The plan sets targets, budgets, accountability measures and deadlines. It involves defining the business, analyzing strengths/weaknesses/opportunities/threats, targeting customers, competing effectively, forecasting sales, allocating budgets, integrating communication channels, identifying sales methods, tracking activities, and evaluating progress. Developing a thorough marketing plan guides a business's strategic direction.
The document provides guidance on developing a strategic marketing plan. It discusses the importance of understanding the market and developing goals and strategies. A good marketing plan should include: an analysis of the situation including strengths, weaknesses, opportunities, and threats (SWOT analysis); market research on the target customer and competition; goals and objectives; and strategies and methods for promotion, pricing, budget, and measuring results. Developing an effective marketing plan is important for business success.
The document provides guidance on developing a strategic marketing plan. It discusses the importance of understanding the market and target customers, and developing goals and strategies. A good marketing plan should include key elements like a business description, market research, pricing analysis, marketing goals and methods to track success. Developing an effective marketing plan is important to help businesses set goals and implement strategies to grow profits.
Better Business Planning: Your Comprehensive Guide to Building Success
Introduction:
Embarking on a new business venture or seeking to elevate an existing one? Whether you're a budding entrepreneur or aiming to secure funding from venture capitalists, the importance of a well-crafted business plan cannot be overstated. Welcome to "Better Business Planning," an e-book that serves as your indispensable guide to creating a comprehensive, thoughtful, and compelling business plan. Here, you'll find all the essential information you need to transform your business vision into a strategic roadmap for success.
Chapter 1: The Crucial Role of a Business Plan
The e-book commences with a deep dive into the significance of a business plan in the entrepreneurial journey. Whether you're at the inception stage or looking to attract investment, a well-constructed business plan is your roadmap to success. This chapter lays the foundation for understanding why a business plan is more than just a document—it's a strategic tool that aligns your aspirations with sound business reasoning.
Chapter 2: Comprehensive and Well-Thought-Out
Building a business plan goes beyond mere documentation; it requires a comprehensive and well-thought-out approach. This chapter delves into the key components that make a business plan effective. From market analysis to financial projections, every aspect is explored to ensure your business plan is not only thorough but also resonates with clarity and purpose.
Chapter 3: Crafting Sound Business Reasons
Success hinges on sound business reasons, and your business plan is the platform to articulate them effectively. This chapter explores the art of presenting compelling reasons for your business's existence, growth, and potential success. By understanding how to convey your ideas with conviction, you'll be better equipped to engage potential investors and stakeholders.
Chapter 4: Your One-Stop Source for Business Info
The e-book positions itself as your ultimate source for all things related to business planning. Whether you're a novice or a seasoned entrepreneur, you'll find valuable insights and practical tips to enhance your business planning skills. This chapter sets the tone for a comprehensive learning experience that empowers you to navigate the intricacies of the business planning process.
Conclusion:
"Better Business Planning" is more than just an e-book; it's your partner in the journey toward business success. From understanding the crucial role of a business plan to crafting sound business reasons, this guide is designed to equip you with the knowledge and skills needed to create a compelling roadmap for your venture. As you delve into the comprehensive and well-thought-out strategies outlined in this e-book, remember that a successful business plan is not just a document; it's a strategic tool that propels your vision toward tangible success. Get ready to transform your business planning approach—your journey begins here.
Introducing Superior Business Planning —How to Develop a Successful Business Plan. Inside this eBook, you will discover the topics about business planning basics, market evaluation, analyze competition, determine a marketing strategy, decide what extras you may need like staff etc and the dangers in not making a business plan.
There should be an executive summary of less than two pages at the
start of the business plan which sells the plan and highlights its
features.
A company summary should be included containing a factual
description of the company, its owners and history. There needs to be
a section referring to products and or services and their points of
difference in the market.
Chapter2 Strategic Planning And The Marketing Processdr_ahmadov
The document discusses strategic planning and marketing processes. It outlines steps in strategic planning including defining a company mission and objectives. A mission statement communicates an organization's purpose. Business portfolios contain different strategic business units that can be planned independently. The marketing mix involves four Ps - product, price, place, and promotion. Developing marketing strategies requires understanding target consumers through market segmentation, targeting, and positioning. A marketing plan outlines objectives, strategies, budgets, and controls to monitor progress.
The document provides guidance on developing an effective marketing plan. It outlines 10 key elements that should be included: describing the business, conducting a situational analysis, defining customers, strategizing market entry, forecasting sales, defining a marketing budget, integrating marketing communications, identifying sales channels, tracking marketing activities, and evaluating progress. The marketing plan is presented as a strategic document to guide a business and coordinate its marketing efforts.
A marketing plan should outline goals and strategies for the coming period. It explains past marketing performance and the external market context. The plan sets targets, budgets, accountability measures and deadlines. It involves defining the business, analyzing strengths/weaknesses/opportunities/threats, targeting customers, competing effectively, forecasting sales, allocating budgets, integrating communication channels, identifying sales methods, tracking activities, and evaluating progress. Developing a thorough marketing plan guides a business's strategic direction.
The document provides guidance on developing a strategic marketing plan. It discusses the importance of understanding the market and developing goals and strategies. A good marketing plan should include: an analysis of the situation including strengths, weaknesses, opportunities, and threats (SWOT analysis); market research on the target customer and competition; goals and objectives; and strategies and methods for promotion, pricing, budget, and measuring results. Developing an effective marketing plan is important for business success.
The document provides guidance on developing a strategic marketing plan. It discusses the importance of understanding the market and target customers, and developing goals and strategies. A good marketing plan should include key elements like a business description, market research, pricing analysis, marketing goals and methods to track success. Developing an effective marketing plan is important to help businesses set goals and implement strategies to grow profits.
Better Business Planning: Your Comprehensive Guide to Building Success
Introduction:
Embarking on a new business venture or seeking to elevate an existing one? Whether you're a budding entrepreneur or aiming to secure funding from venture capitalists, the importance of a well-crafted business plan cannot be overstated. Welcome to "Better Business Planning," an e-book that serves as your indispensable guide to creating a comprehensive, thoughtful, and compelling business plan. Here, you'll find all the essential information you need to transform your business vision into a strategic roadmap for success.
Chapter 1: The Crucial Role of a Business Plan
The e-book commences with a deep dive into the significance of a business plan in the entrepreneurial journey. Whether you're at the inception stage or looking to attract investment, a well-constructed business plan is your roadmap to success. This chapter lays the foundation for understanding why a business plan is more than just a document—it's a strategic tool that aligns your aspirations with sound business reasoning.
Chapter 2: Comprehensive and Well-Thought-Out
Building a business plan goes beyond mere documentation; it requires a comprehensive and well-thought-out approach. This chapter delves into the key components that make a business plan effective. From market analysis to financial projections, every aspect is explored to ensure your business plan is not only thorough but also resonates with clarity and purpose.
Chapter 3: Crafting Sound Business Reasons
Success hinges on sound business reasons, and your business plan is the platform to articulate them effectively. This chapter explores the art of presenting compelling reasons for your business's existence, growth, and potential success. By understanding how to convey your ideas with conviction, you'll be better equipped to engage potential investors and stakeholders.
Chapter 4: Your One-Stop Source for Business Info
The e-book positions itself as your ultimate source for all things related to business planning. Whether you're a novice or a seasoned entrepreneur, you'll find valuable insights and practical tips to enhance your business planning skills. This chapter sets the tone for a comprehensive learning experience that empowers you to navigate the intricacies of the business planning process.
Conclusion:
"Better Business Planning" is more than just an e-book; it's your partner in the journey toward business success. From understanding the crucial role of a business plan to crafting sound business reasons, this guide is designed to equip you with the knowledge and skills needed to create a compelling roadmap for your venture. As you delve into the comprehensive and well-thought-out strategies outlined in this e-book, remember that a successful business plan is not just a document; it's a strategic tool that propels your vision toward tangible success. Get ready to transform your business planning approach—your journey begins here.
Introducing Superior Business Planning —How to Develop a Successful Business Plan. Inside this eBook, you will discover the topics about business planning basics, market evaluation, analyze competition, determine a marketing strategy, decide what extras you may need like staff etc and the dangers in not making a business plan.
There should be an executive summary of less than two pages at the
start of the business plan which sells the plan and highlights its
features.
A company summary should be included containing a factual
description of the company, its owners and history. There needs to be
a section referring to products and or services and their points of
difference in the market.
Chapter2 Strategic Planning And The Marketing Processdr_ahmadov
The document discusses strategic planning and marketing processes. It outlines steps in strategic planning including defining a company mission and objectives. A mission statement communicates an organization's purpose. Business portfolios contain different strategic business units that can be planned independently. The marketing mix involves four Ps - product, price, place, and promotion. Developing marketing strategies requires understanding target consumers through market segmentation, targeting, and positioning. A marketing plan outlines objectives, strategies, budgets, and controls to monitor progress.
SocialXpand | To Boost The Chance for New ContractsSocialXpand
SocialXpand boost the reviews on link and enhance chance for new contracts via digital marketing for work. By Digital and social marketing we can also take care of false complaints on links.
The document discusses the key concepts and steps of the marketing process. It begins by defining marketing as how companies create value for customers and build relationships to capture value in return. The 5 main steps of the marketing process are: 1) Understanding customer needs and wants, 2) Designing a customer-driven marketing strategy, 3) Constructing an integrated marketing plan, 4) Building profitable relationships, and 5) Capturing value from customers. Each step is then further explained, with a focus on understanding customer needs, developing a marketing strategy and mix, building relationships, and evaluating results to improve future efforts.
A business plan is an essential document for anyone commencing a new business, already in business and critical for anyone seeking funding from a venture capitalist. The business plan needs to be
comprehensive, well thought and should contain sound business reasons.
The document provides guidance on developing a marketing plan for a new business venture. It discusses conducting an industry and competitor analysis, defining the target market through segmentation, establishing goals and objectives, and developing marketing strategies around product, price, placement, and promotion. The marketing plan should then be implemented, monitored, and adjusted as needed based on results.
The document provides guidance on developing an effective marketing plan. It explains that the plan should outline specific actions to interest customers and persuade them to buy. Key elements that should be addressed include goals, target audience, and marketing system. It also describes conducting a SWOT analysis and market research to understand strengths, weaknesses, opportunities, threats, target markets, and competitors. The marketing mix of product, price, place, promotion, and people should be considered to coordinate the planning, implementation, and monitoring of the marketing strategy.
The document provides an overview of marketing strategy, including its meaning, importance, and components. A marketing strategy refers to a business's overall plan for reaching customers and includes elements like the target market, value proposition, and branding. It outlines the marketing mix and goals. Developing an effective marketing strategy is important as it provides focus, coordination between departments, and optimal use of resources to increase sales. Key components include the target market, business offering, competitive advantage, goals, communication strategy, and key performance indicators.
The document discusses retail marketing strategies and success factors. It covers determining competitors, positioning, promotion, developing a marketing plan through market research, setting goals and strategies. Key aspects are product, price, place, promotion. The document recommends specializing in one of five areas: being the cheapest, having the biggest assortment, being the most fashionable, having the most solution-oriented service, or having the fastest service. Retailers must ensure their entire company focuses on their chosen area of specialization.
The document discusses analyzing market needs through market analysis and research. It describes identifying target markets and their functional and emotional needs. Steps are provided to identify market needs, including taking stock of current marketing, researching competitors, conducting market research, identifying target customers, and evaluating branding and marketing materials. Meeting customer needs requires understanding who they are, what they want, and their expectations. Failing to meet expectations can result in customers going elsewhere.
How to plan a small business promotional strategywinsylee2020
The document provides a 5-step plan for small businesses to develop an effective promotional strategy on a limited budget. The steps are to 1) position the product, 2) define the target market and competition, 3) listen to customers, 4) write down the marketing plan, and 5) track results. Developing a mix of sales and marketing activities tailored to customer desires is key. Creativity is needed to promote the business affordably through various channels like print, online, and events. Continually reviewing the strategy is important as markets change over time.
Digital marketing strategy_guide_intermediate_levelNarendraNath26
This document provides a guide to optimizing digital marketing strategies at an intermediate level. It discusses setting goals in a hierarchy aligned with business objectives. It also covers conducting in-depth market analysis through audience personas and customer segmentation to better understand needs. The guide recommends benchmarking competitors to identify strengths and gaps. It prompts analyzing one's own digital assets and paid, earned, and owned media to improve strategy and tactics for growing conversions and business. The overall aim is to take a more strategic view of digital marketing by leveraging audience insights.
Strategic planning involves defining an organization's mission and goals, designing its business portfolio, and developing detailed marketing and departmental plans. It is a key process for identifying opportunities and guiding competitive strategies. The marketing process helps capitalize on opportunities by analyzing markets, selecting target segments, developing the marketing mix, and managing marketing efforts. Key elements include segmentation, target marketing, product positioning, and the "Four Ps" framework. Planning, implementation, control and analysis are core marketing management functions.
A marketing plan is a document that contains information with the direct impact on the firm's marketing strategy that facilitates the alignment of decision makers.
The document provides guidance on developing an effective marketing plan in 8 steps: 1) Defining your market and target customers, 2) Understanding customer needs and motivations, 3) Identifying your niche, 4) Developing your marketing message, 5) Choosing marketing mediums, 6) Selecting your distribution channel, 7) Setting sales and marketing targets, and 8) Creating a budget and timeline. An effective plan will attract new customers, increase sales from existing customers, and retain customers long-term. The plan should be concise, clear, and focus marketing efforts on the right audience.
This document provides an overview of the key elements to include when creating a business plan. It discusses the importance of a business plan for attracting investors, evaluating the feasibility of a business idea, and setting milestones. The document outlines the typical sections of a business plan, including an executive summary, company description, market analysis, management overview, marketing plan, funding request, and financial projections. It provides guidance on the level of detail needed for each section and what information should be included.
This document outlines the importance of developing a good marketing plan for startups. It discusses that a marketing plan should identify the business, analyze the competitive landscape, set goals and metrics, and include budgets. The plan should also describe how marketing activities will be implemented, tracked, and evaluated. Developing a marketing plan allows startups to strategize their market entry, identify sales channels, and integrate communications to effectively promote their business.
Creating a Marketing Budget A Step-by-Step Guide.pdfEkaKhrisnanda
Are you looking to create a marketing budget that aligns with your business goals and maximizes your ROI? Look no further! This step-by-step guide will provide you with everything you need to know to create a successful marketing budget. From understanding the importance of a marketing budget to determining your marketing expenses and prioritizing them, to creating a budget plan and monitoring and adjusting it regularly, this guide has got you covered. Follow these steps and tips to create a marketing budget that drives the growth of your business.
This document discusses strategic planning and marketing strategy. It defines strategic planning as the process of developing a strategic fit between an organization's goals and capabilities and its changing market opportunities. The key steps in strategic planning are defining a market-oriented mission, setting objectives and goals, designing the business portfolio, and coordinating functional strategies. Marketing plays an important role in strategic planning by partnering with other departments and members of the supply chain. The marketing process involves segmentation, targeting, developing the marketing mix, and managing the marketing effort.
1) Marketing is important for startups, but the approach needs to be calibrated to the business maturity. It should focus on building a brand and generating qualified sales leads.
2) When starting marketing, a startup needs to have clarity on the problem they solve and be able to supply their product/service in sufficient volume. They also need to understand their unique value proposition and competitive advantages.
3) Marketing should be treated as a process that is integrated with the overall business plan, with defined strategies, campaigns, customer data collection, and selection of appropriate marketing interventions.
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The document provides guidance on developing an effective marketing plan in 8 steps: 1) Defining your market and target customers, 2) Understanding customer needs and motivations, 3) Identifying your niche, 4) Developing your marketing message, 5) Choosing marketing mediums, 6) Selecting your distribution channel, 7) Setting sales and marketing targets, and 8) Creating a budget and timeline. An effective plan will attract new customers, increase sales from existing customers, and retain customers long-term. The plan should be concise, clear, and focus marketing efforts on the right audience.
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FDIC Presentation on Developing a Marketing Plan
1. Use a good Marketing Plan to
guide the strategic and tactical
direction of your business
Developing a Marketing
Plan
2. At the end of this module, you will be able to:
– Identify the importance and the need for a good Marketing Plan.
– List the key components of a Marketing Plan and its details.
– Track the Marketing Plan in tandem with your overall business plan.
Learning Objectives
2
Developing a Marketing Plan
3. • The Federal Deposit Insurance Corporation (“FDIC”) recognizes the
important contributions made by small, veteran, and minority and
women-owned businesses to our economy. For that reason, we strive to
provide small businesses with opportunities to contract with the FDIC. In
furtherance of this goal, the FDIC has initiated the FDIC Small Business
Resource Effort to assist the small vendors that provide products, services,
and solutions to the FDIC.
• The objective of the Small Business Resource Effort is to provide
information and the tools small vendors need to become better
positioned to compete for contracts and subcontracts at the FDIC. To
achieve this objective, the Small Business Resource Effort references
outside resources critical for qualified vendors, leverages technology to
provide education according to perceived needs, and offers connectivity
through resourcing, accessibility, counseling, coaching, and guidance
where applicable.
• This product was developed by the FDIC Office of Minority and Women
Inclusion (OMWI). OMWI has responsibility for oversight of the Small
Business Resource Effort.
About FDIC Small Business
Resource Effort
3
Developing a Marketing Plan
4. A Marketing Plan is at the core of directing and coordinating all marketing
efforts within a firm.
It usually operates at two levels, strategic and tactical: strategic to identify
the overall market play and tactical to execute on the marketing plan.
A Marketing Plan does not need to be long or expensive to put together. If
it is carefully researched, thoughtfully considered, and evaluated, it will
help your firm achieve its goals.
Executive Summary
4
Developing a Marketing Plan
5. A good Marketing Plan details what you want to accomplish and helps you
meet your objectives.
A Marketing Plan should:
– Explain (from an internal perspective) the impact and results of past marketing
decisions.
– Explain the external market in which the business is competing.
– Set goals and provide direction for future marketing efforts.
– Set clear, realistic, and measurable targets.
– Include deadlines for meeting those targets.
– Provide a budget for all marketing activities.
– Specify accountability and measures for all activities.
A Good Marketing Plan
5
Developing a Marketing Plan
6. MONITOR
MEASURE
INPUT
CORRECT
SIGNOFF
Feedback and Control Process
You should create and implement
your Marketing Plan.
Some major steps involved in this
process are:
– Planning
• Define your corporate mission
• Establish business units
• Assign resources to business units
• Assess growth opportunities
– Implementing
– Gaining Feedback and Control
• Measuring results
• Diagnosing results
• Taking corrective action
Overall Planning Process
6
Developing a Marketing Plan
7. Ask yourself these five critical questions:
1. What is unique about your business idea? What is the general need that your
product or service aims to meet?
2. Who is your target buyer? Who buys your product or service now, and who do
you really want to sell to?
3. Who are your competitors? How can your small business effectively compete
in your chosen market?
4. What positioning message do you want to communicate to your target
buyers? How can you position your business or product to let people know
about your product?
5. What is your sales strategy? How will you get your product or service in the
hands of your customers?
The Marketing Challenge
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Developing a Marketing Plan
8. A good Marketing Plan includes these 10 elements:
1. Describe Your Business
2. Conduct a Situation Analysis
3. Define Your Customer
4. Strategize Your Market Entry
5. Forecast your Sales or Demand Measurement
6. Define Your Marketing Budget
7. Integrate Your Marketing Communication
8. Identify Sales Channels
9. Track Marketing Activities
10. Evaluate Your Progress
The 10 Elements of a Good
Marketing Plan
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Developing a Marketing Plan
9. Small business owners often describe themselves by their product or
services; however, business must be viewed as a customer-satisfying
process, not goods-producing.
Describe your business in detail and clearly identify goals and objectives.
Answer the following questions:
– What is your product or service?
– How will your product benefit the customer?
– What is different about the product your business is offering?
– Is it a new business, a takeover, or an expansion?
– Why will your business be profitable?
– What are the growth opportunities?
– What is your geographic marketing area?
1. Describe Your Business
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Developing a Marketing Plan
10. – Strengths: assets or a resources that can be used to improve your business’
competitive position.
– Weaknesses: resources or capabilities that may cause your business to have a
less competitive position.
– Opportunities: situations or conditions arising from a business’ strengths, or set
of positive externalities.
– Threats: problems that focus on your weaknesses and which can create a
potentially negative situation.
Strengths Weaknesses
Opportunities Threats
A situation analysis details the context for your
marketing efforts by considering internal and
external factors that could influence your
marketing strategy.
This section of the plan could include a SWOT
analysis to summarize your Strengths,
Weaknesses, Opportunities and Threats.
2. Conduct a Situation Analysis
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Developing a Marketing Plan
11. Defining your market does not need to be a difficult process. You do not need a
huge market base, but you need to be realistic and your market needs to be
well-defined.
– Who are your competitors, and who do they target?
– Who is your perfect customer and client base?
– What is your current customer base (in terms of age, sex, income, and geographic
location)?
– What habits do your customers and potential customers share? Where do they
shop, what do they read, watch, listen to?
– What prospective customers are you currently not reaching? How can you reach
them?
– What qualities do your customers value most about your product or service? Do
they value selection, convenience, service, reliability, availability, or affordability?
– What qualities about your product or service do you need to improve? How can
they be adjusted to serve your customers better?
3. Define Your Customers
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Developing a Marketing Plan
12. Once you have identified what is unique about your business and who
your target buyers are, focus on your competition:
– Identify your direct competitors and learn what they do.
– Sharpen your decisions about the best business category and market
segment in which to compete.
4. Strategize Your Market Entry
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Developing a Marketing Plan
13. Sales forecasting provides the basis for comparison over a period of time.
Market demand is the total volume that could be bought by a defined
customer group in, a defined geographical area, in a defined time period,
and under a defined marketing program.
You should:
– Correctly identify and estimate current demand by considering total market
potential, market share, and expected sales.
– Estimate future demand by considering past sales patterns, consumer trends,
and overall market projections.
5. Forecast Sales or Demand
Measurement
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Developing a Marketing Plan
14. Marketing budgets, especially in small and mid-sized businesses, are often
arbitrarily set as either x% of planned revenue or y% over the prior year's
marketing budget.
Use targeted budgeting to more intelligently set your budget based on
company objectives.
6. Define Your Marketing
Budget (Slide 1 of 2)
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Developing a Marketing Plan
15. Answer the following questions:
– What previous marketing methods have been most effective?
– What are your costs compared to sales?
– What is your cost per customer?
– What marketing methods will you use to attract new customers?
– What percentage of profits can you allocate to your marketing campaign?
– What marketing tools (i.e. - newspapers, magazines, Internet, direct mail,
telemarketing, event sponsorships) can you implement within your budget?
– What methods are you using to test your marketing ideas?
– What methods are you using to measure results of your marketing campaign?
6. Define Your Marketing
Budget (Slide 2 of 2)
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Developing a Marketing Plan
16. Integrate marketing communication to
consolidate marketing tools, approaches, and
resources within a company to maximize impact
and gain edge over the competition.
Build on a "Marketing Mix“ and include the
following:
– 4P’s: Product, Price, Promotion, and Place
– Marketing & Advertising
• Internet
• Events
• Direct
• Database
– Public Relations
A COLLABORATIVE
APPROACH
7. Integrate Your Marketing
Communication
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Developing a Marketing Plan
17. Part of the challenge of marketing is figuring out which distribution method
to use for your business.
Include all relevant distribution channels:
– Retail: Stores selling to final consumer buyers (one store, or a chain of stores).
– Wholesale: An intermediary distribution channel that usually sells to retail stores.
– Direct mail: Generally catalog merchants that sell directly to consumers.
– Telemarketing: Merchants selling directly to consumer buyers at retail via phones.
– Cyber-Marketing: Merchants selling directly to consumer buyers at retail prices,
or business-to-business products and services at wholesale prices via computer
networks.
– Sales force: Salaried employees of a company or independent commissioned
representatives who usually sell products for more than one company.
8. Identify Sales Channels
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Developing a Marketing Plan
18. Tracking helps monitor the effectiveness of each marketing activity and is
especially helpful with your overall program evaluation.
Include procedures for tracking each type of marketing activity you are using.
Some examples are:
– Display advertising: With traditional consumer publications, tracking can be done
through the use of different phone numbers, special offers (specific to that
advertisement or publication), or reference to a specific department.
– Internet marketing: Usually, this is easily tracked by monitoring web traffic.
– Trade shows: A trade show’s effectiveness can be tracked by collecting the right
information at the show and following up on it.
– Database: Before your Marketing Plan is kicked off, make sure you have the
database structure in place to record this information.
The tabulated results and customer information is very valuable information.
9. Track Marketing Activities
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Developing a Marketing Plan
19. Identify how you will measure your success and in what ways your
objectives have been met. Then, use these metrics to determine the
success of your marketing efforts.
Answer the following questions:
– Did we reach our goals?
– Was the marketing campaign successful?
– Were we able to determine Return on Investment (ROI)?
– Did our efforts result in conversion? In other words, were we able to convert
an inquirer to a visitor, a visitor to a customer?
– Can we utilize our database to survey, capture additional information, or
establish a more comprehensive customer relationship program?
10. Evaluate Your Progress
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Developing a Marketing Plan
20. Every business has marketing challenges and opportunities.
A Marketing Plan:
– Allows you to analyze your current situation, describe your business, and
define your customer base.
– Helps you to strategize your market entry, identify your sales channels, and
integrate your marketing communications for maximum efficiency.
– Gives you a means of evaluating your progress.
Key Takeaways from This
Module
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Developing a Marketing Plan
21. Kotler & Keller, Marketing Management
David Cravens, Strategic Marketing
Business Owners Toolkit, Total Know-How for Small Businesses
Small Business Administration, Marketing to Federal Agencies and Prime
Contractors
Shirleen Glasin, ProSidian Consulting, Developing a Marketing Plan
All Business, Dun & Bradstreet Company, Three Steps for Developing a
Marketing Plan for Your Small Business
Entrepreneur.com, Small Business Encyclopedia, How to Create a
Marketing Plan
Business Know How, Small Business and Home Business Ideas, 8 Keys to a
Strong Marketing Strategy
Sources and Citations
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Developing a Marketing Plan