Marketing Plan Essay
IMPROVING YOUR COMPETITIVE EDGE
A Marketing Plan is a written strategy for selling the products/services of a new business. It is a reflection of how serious a company is in meeting the competition head on, with strategies and plans to increase market share and attract customers. An effective Marketing Plan is backed by carefully collected market, consumer and competitor information, sometimes citing professional advice.
Why Prepare a Marketing Plan?
A good Marketing Plan will help you to improve your odds against more experienced competitors and newly emerging ones. The Plan enables you to recognize and take action on any trends and consumer preferences that other companies have overlooked, and to develop …show more content…
Marketing Goals and Objectives To introduce this section, include the "mission statement" of the business; an idea of what its goals are for customers, clients, employees and the consumer, then proceed with:
Compare your prospects for future sales with either past performance, or a general industry performance report. By analyzing the industry average as well as your own performance you will demonstrate to the reader that you can look "beyond your borders" to the competition to give yourself an idea of how well you are performing, or what general difficulties the whole industry may be facing.
Identify industry wide problems and create strategies to challenge them. This will also demonstrate that you have the necessary foresight to allow you to recognize problems in the future.
Set "benchmarks" for your sales objectives by using quarterly reports as a way of evaluating the success of your overall marketing approach. Indicate how much "market share" you intend to collect over the next 5 years, to show that you expect to advance your position against your competitors using your