Marketing Plan Essay
Marketing Plan Outline:
A marketing plan is essential for the success of a business. The marketing plan will give prospective investors a good idea what need or want your business is solving. It will identify your own strengths and weaknesses, competition, and overall marketing strategy that will attract your target consumers. Here are some key components to the marketing plan.
1. Executive Summary: The executive summary should state who is in charge of the business, company description, competition differentiators, and key statistical proof why the business will succeed.
1. Business form: partnership, corporation, etc
2. What is your product/service?
3. How is your business unique?
4. Why are you or why do you …show more content…
4. How do they advertise?
5. How does your business differ from theirs?
6. Marketing Strategy: This should include your company’s vision/mission statement and a focused marketing mix to how your product/service will position itself in the market.
Mission statement: A statement that captures an organization’s purpose, customer orientation, and business philosophy.
Marketing mix: Also known as the four P’s: product, price, place, promotion. A focused marketing mix is significant to the vision of how your marketing strategy will be implemented.
1. What is my product?
2. What is the least I can sell it for? The most I could sell it for?
3. Pricing above competition? Below?
4. Where are my target customers?
5. How will target customers see my product/service?
6. What promotions strategy will I use? Newspaper, television...?
Sample Marketing Plan
7. Financials, Budgets, and Forecasts: This section will offer a financial overview as it relates to marketing activities. This will address Break-even Analysis, sales forecasts, and expense forecasts or any other financials as seen fit for the relationship to marketing.
8. Break-even Analysis: The break-even analysis uses three assumptions to determine a break- even point: fixed costs, variable costs, and unit price. Technically, fixed costs are those that the business would continue to pay even if it went bankrupt. In practice, fixed costs are usually considered the running costs. These are