by Sherry Shafer, Drake University SBDC, Des Moines, IA Whether your business is small or large, it will be more successful if you have a business plan. A key component of that plan is the marketing plan, which summarizes the who, what, where, when and how much components of your annual marketing and sales activities. Your marketing plan should address the following questions: - Who are our target buyers?
- What niche can we serve?
- Where will we implement our marketing spending plans?
- When will marketing spending plans occur?
- What sales, spending, and profits do we expect?
ERROR MSGOnce you've answered all the questions above, you can begin putting it all down on paper in your marketing plan. The marketing plan is made up of 5 major sections: - The Situation Analysis, which describes the total marketing environment in which the company competes and the status of company products and distribution channels.
- The Opportunity and Issue Analysis, also known as a SWOT analysis, examines the major internal Strengths and Weaknesses of the company and the external Opportunities and Threats to the company.
- omaha hi lo estrategiaThe Goal and Objectives section outlines major company goals, marketing and financial objectives.
- The Marketing Strategy section lays out your company's marketing strategy statement. This section should describe your key target buyers, your company's competitive market segments, your company's niche, and how your company compares to the competition. You should also cover your pricing strategy, a marketing spending strategy with advertising and promotion, and market research expenditures.
- The sales and marketing plan should outline specific marketing events. This is an action plan to increase sales and may include a summary of quarterly promotion and advertising plans, with spending and timing for each program.
If you need help writing your marketing plan, contact your area Small Business Development Center. > See also: Marketing, Advertising and Sales |
