Marketing Plan Basics






Marketing

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Marketing
Marketing Plan
Marketing Plan Components







MARKETING YOUR BUSINESS FOR SUCCESS
OUTLINE FOR A MARKETING PLAN

Elements of a Marketing Plan



  1. Marketing Plan - Description of the Target Market


    • - age
    • - sex
    • - profession
    • - income level
    • - educational level
    • - residence


  2. Marketing Plan - Description of Competitors


    • - market research data
    • - demand for product or service
    • - nearest direct and indirect competitors
    • - strengths and weaknesses of competitors
    • - assessment of how competitors businesses are
    • doing
    • - description of the unique features of your product or service
    • - similarities and dissimilarities between your product or service and competitors


  3. Marketing Plan - Description of Product or Service


    • - describe your product or service
    • - emphasize special features, i.e., the selling points


  4. Marketing Plan - Marketing Budget


    • - advertising and promotional plan
    • - costs allocated for advertising and promotions
    • - advertising and promotional materials
    • - list of advertising media to be used and an estimate of cost for each medium


  5. Marketing Plan - Description of Location


    • - description of the location
    • - advantages and disadvantages of location


  6. Marketing Plan - Pricing Strategy


    • - pricing techniques and brief description of these techniques
    • - retail costing and pricing
    • - competitive position
    • - pricing below competition
    • - pricing above the competition
    • - price lining
    • - multiple pricing (for service businesses only)
    • - service components
    • - material costs
    • - labor costs
    • - overhead costs



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