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The Marketing Plan section of the business plan demonstrates how a company will penetrate the market with its products and services. The Marketing Plan should include “the four P’s” – Product, Promotions, Price, and Place. Products and/or Services The first “P” stands for Product, but includes all products and services that the company offers. This section of the business plan should detail all the features of the products and services, how they work, their unique/proprietary attributes, etc. For products that are patented and/or technical in nature, drawings and backup materials should be presented in the Appendix. Most growing companies offer certain products and services today but expect to offer more in the future. It is important to mention both current and future products/services here, but to focus primarily on the short-to-intermediate term horizon. Promotions Promotions include each of the activities that induce a customer to buy the company’s products and services. Promotional activities could include advertising, public relations (PR), free samples, discounts, direct mail, telemarketing, partnerships, etc. This section of the business plan discusses which promotions will be used and how they will be used. For instance, if partnerships will be used to secure new customers, the plan must explain which companies are partners, how they will be able to provide new customers, how the partnership will work (from operational/ financial standpoints), etc. This section must be as specific as possible, particularly as it relates to discussing future promotions. To say that a company is going to generate PR in trade magazines is simply too vague. Rather, the plan must explain the type of article/feature that may be written about the firm and why, which specific trade journals that will be targeted and/or the projected publication dates. In discussing how the company will promote itself, it is important to discuss how the company will position itself. This positioning statement details the attributes that customers will assign to the company, its products and services. The choice of promotional activities must support this positioning. For example, discounts might not be consistent with a desire to be considered an upscale brand. Price This section of the plan should detail the price point(s) at which the company’s products and services will be sold. If the products/ services are sold as bundles, these should be detailed in this section. Rationale for the pricing should be given when applicable (e.g., why the company has chosen an initiation fee plus monthly membership fees versus a one-time lifetime membership fee). Place The final “P” refers to “Place” or “Distribution” and explains how a company’s products and/or services will be delivered to customers. This section is crucial because if customers cannot access products and services, they cannot purchase them. This section is especially critical for high-growth, capital-constrained companies. Attaining profit-effective distribution channels is often the most vexing challenge for these businesses. Examples of distribution methods include retail locations, website, distributors, wholesalers, direct mail catalogs, etc. Many companies have multiple distribution methods to deliver their products and services to customers and each should be detailed here. Detailing the “the four P’s” in the marketing plan is critical in proving to investors that your company will be able to efficiently and effectively penetrate its market. Auto Submit To 3,000,000+ Websites. - Blast Your Ad to 3,000,000+ Classified Websites! Plus Huge Array of Marketing Tools. Affiliates Earn 60% Restaurant Templates And Forms. - Restaurant management forms, restaurant software, business plan templates, marketing & promotions to help grow your profit. Microsoft has added search to its suite of online services dubbed Windows Live Search which complements MSN search introducing a number of new features and enhancements and is intended to help people better visualize and connect to their information. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | 91 | 92 | 93 | 94 | 95 | 96 | 97 | 98 | 99 | 100 |
Advice Home Business Technology Online Advertising Motivational Internet Marketing SEO Help Online Games Science Articles Happiness More Articles:1. Five Joint Venture Marketing Skills A Small Business Owner Must Have By Habiba Abubakar Joint venture marketing is a lucrative way of leveraging the assets of two or more businesses. It is the fastest way for businesses to achieve certain business goals and benefit their clients at the same time.For the joint venture partners, this usually translates into more visibility, more clients and more profits than they could create on their own. For the clients, the benefits include saving time, saving money and getting added value from… 2. Maximum Marketing - Minimum Budget By Bonnie Jo Davis Two years ago I started my small Virtual Assistant business with a non-existent marketing budget. I borrowed marketing books from the library, read countless articles on the Internet and joined a professional trade association of my peers. I learned hundreds of marketing techniques and one valuable lesson. The lesson I learned is that the financial ruin of large companies is often achieved by incredibly expensive and glitzy marketing plans t… 3. The Small Business Marketing Secret You Can Learn In The Cereal Aisle By Jimmy Vee Have you walked down the cereal aisle lately?There is a lot you can learn from sitting surrounded by the boxes and bags of artificially sweated corn, rice and wheat for a few minutes observing marketing in action.If you look closely, you will see solid marketing, the result of leading experts. Just visiting your local grocery store’s cereal aisle is like attending master’s level seminar in marketing.You’re probably thinking that all the sugar h… 4. A "Pass / Fail" Test for Any New Market By Mark Smock If you are considering entering a new target market, with an existing or new product or service, it makes sense to first systematically analyze the market in question via some fundamental market evaluation criteria. It is not only rational but most cost effective to determine if a new market pursuit makes sense for your company before any significant resources are further applied to the effort.A “pass or fail” test of your targeted market is re… |