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A Marketing Plan is Your
Business' Road Map and Travel Diary
by Rena Larrañaga
Feb. 23, 2002
Do you know where your business
is going? You would if you had a marketing plan. Not only is
your marketing plan a road map for your future, but it also serves
as a travel diary, detailing past successes.
Don't worry. A marketing plan
doesn't have to be a 50-page document that you prepare after
months of consulting with analysts.
Each marketing plan is as unique
as the business it supports. There are no set rules for writing
your plan. However, there are common components:
Target Market. Brainstorm
and answer as many questions about your target market as possible.
How old are your customers? Are they homeowners? What is their
annual income? Children? Pets? Hobbies? Education?
Product/Service. Clearly
describe your product and how it relates to your target market.
Do they purchase similar products already? Or, are you filling
a need that current products can't?
Competition.
Describe your competitors. What makes you stand apart from them?
Mission Statement. Using
information about your target market, product, and competition,
prepare a mission statement for your business. This can be one
sentence or a few sentences that state what you're selling, who
you're selling it to, and your unique selling proposition.
Marketing Strategies. Prepare
a list of marketing and promotion strategies you plan to use
or would like to try.
Budget. Budget
your dollars and your time. What strategies can you afford? What
can you do yourself, and what will you need to outsource?
Marketing Goals.
Establish quantifiable goals that you can turn into numbers.
For instance, your goal may be to gain 30 new customer each week,
or 15 new subscribers to your e-mail newsletter.
After you've developed your
marketing plan, be sure to track your progress. Log your
marketing strategies and note your successes. Successful marketing
takes time.
Rena Larrañaga is
the owner of Bargain Web Services www.bargainwebservices.com
and its parent company Ceres Communications www.ceres-communications.com,
providing a a host of writing, editing and webmaster services.
This item may be reprinted
as long as the contact info remains intact.
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