Developing a Marketing Plan
The planning process helps you to understand the different factors that may affect your success. Instead of worrying about the future, you can actually have a sense of control over your business.
Some questions that will come up during the marketing plan phase.
- Who are you selling to? Why would they buy your products/services over others?
- How do you plan to enter the market? How do you intend to attract customers? How and why will this work?
- Identify your businesses Strengths, Weaknesses, Opportunities or Threats
- Where do your products/services fit in the market? Are they high-end, competitive or a low-cost alternative to the products/services offered by your competitors? How does this compare to your competitors?
- How will your products/services succeed in the market where others may have failed? What gives your products/services a distinctive edge?
- Do you have a particular pricing strategy? Why have you chosen this strategy?
Do not forget to do this valuable step to ensure success with your marketing efforts. For assistance with developing your marketing plan, download our Marketing Plan Questions Worksheet and our Strategy Worksheet.