Develop a marketing plan with our template What to include in your marketing plan Set clear objectives and find out how to reach them Get direction for all your marketing activities Small Business Victoria's Workshops can help you develop a marketing action plan or refine your existing marketing plan. Find a workshop near you. Why you need a marketing plan A good marketing plan will help you: When writing a marketing plan you need to be clear about your marketing objectives and how you're going to achieve them.
It addresses concerns such as how you will convey your service or product's features, benefits and uniqueness; who your potential customers are and how you will attract them; how you will deal with competitors; and how you will develop customer loyalty that will generate repeat business and referrals.
Which geographic area does your business serve? What are the demographics of the customers you intend to reach? What are the psychographics of your target customers? Psychographic characteristics include purchasing motivations, lifestyles and values. As in so many other sections of your business plan, you must be very specific.
A potential lender or investor will not take you seriously if you define the target market for your grocery store as "All people, because everyone needs to eat. They seek healthy, organic, locally grown food and are willing to pay a significant premium to feel good about their purchase and obtain higher quality items.
How many consumers are in this market? Then, what percentage of that market will you attempt to gain as customers — how large is your segmented available market? Finally, what share of that market will you realistically reach?
Demonstrate a thorough understanding of your target market as gained from both primary and secondary sources.
Primary sources include any market research your business conducts, such as interviews, surveys, focus groups and market testing. Secondary sources include data and publications produced by trade and industry groups, government agencies, chambers of commerce, merchants associations and so on.
To understand the qualities that make for a great company, investors must dig deep into "soft" metrics. What Makes A Company Great? Direction and Image What is your business's ultimate goal?
Investors will be curious about your long-term plans. Do you just want to have just one very successful store, or do you hope to expand — and if so, how broadly and how quickly, and under what circumstances? For example, Coca-Cola's mission statement in its " Vision " is: To refresh the world Inspire moments of optimism and happiness Create value and make a difference.
Coca-Cola then elaborates on this simple mission statement by explaining its vision, goals, priorities and metrics. Your business plan should do the same. In fact, the "about us" and "company profile" sections of corporate websites can be great sources of inspiration when writing your business plan.
What slogan will you use to convey the primary benefits of your product or service? Walmart encapsulates the advantages its customers gain with a simple phrase: Your slogan should be concise, memorable, positive and differentiate your brand. Think about the kind of image you want to project and how this image will help you connect with your target audience.
Are you a luxury brand or a value brand? How do you fit into the community? How do you decide which products to source? What are your quality standards? Whole Foodsfor example, brands itself in part with its eight core values, which include selling the highest quality natural and organic products available, supporting team member excellence and happiness, and practicing and advancing environmental stewardship.
Include a picture of your company's logo and any other visuals that convey your company's image. These include your business's website, interior and exterior shots of your store if you have a physical presencephotos of your products and the way they are packaged, the reusable bags you will give or sell to shoppers, the uniforms your employees will wear and anything else you will use to convey your business's brand.
Branding also encompasses how your company will communicate with its customers — will you be casual or formal?
Friendly or strictly business? Marketing What methods of marketing will you use to reach your target customers? For example, how and where will you advertise?One of the most important sections of a business plan is Marketing and Sales Strategies which outlines your plan for reaching and selling to your target iridis-photo-restoration.com you want to have a wonderful product or provide stellar service, it's all for nothing if you don't have customers and clients.
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Use this marketing plan example to generate sales for your small business.
This document is a sample marketing plan template that will help you create your own strategy quickly. How to Write a Great Business Plan: Sales and Marketing. For example, if your business involves a commission-compensated sales force, describe your Sales Programs and incentives.
If you. Executive Summary. Acme Consulting will be a consulting company specializing in marketing of high-technology products in international markets. The company offers high-tech manufacturers a reliable, high-quality alternative to in-house resources for business development, market development, and channel development.
Looking for sample business plans? Start with a blank slate with one of our free business plan templates. The business plan outline is there.
You just need to customize it to describe your business and what you hope to accomplish.