Creating a Marketing Plan

Creating a marketing plan allows you to determine how you will reach your customers and sell to them.

How will you make customers aware of your products, and exactly what message do you want to convey to your customers? Product, price, place and promotion all play a role in shaping your marketing plan.

Product: The actual product or service
Price: The cost advantage
Place: The location, décor, image etc.
Promotion: The type of marketing activities

When you're creating a marketing plan consider the following:

• What is the message you intend to send to your customers?
  
• How do you position your company in the existing market? What market niche will you fill and how will you do that?
  
• What marketing methods will you use?
  
• What sales strategies will you use?
  
• Will branding play a role in your marketing strategy? How will you develop and use effective logo, product and package design to market your product?
  
• Can you find several methods to reach your customers and provide repeat exposure from different sources?
  
• How affordable is the marketing strategy?
  
• Is it cost effective? Will you receive good value for your investment

Marketing typically costs money, so you'll want to plan your marketing wisely in order to make the most of your marketing dollars. Review your target market analysis and assess how well a marketing strategy reaches your target market before you commit to it.

Some marketing strategies you may consider are:

• Brochures
  
• A website
  
• Print media
  
• Trade shows
  
• Product samples or coupons
  
• Co-op advertising
  
• Premiums (sweepstakes, discounts, bundles)
  
• Public relations (feature and news articles)
  
• Advertising online
  
• Emailing newsletters
  
• Broadcast media
  
• Networking

Again, be sure that your marketing efforts truly reach a targeted market. Typically, you find better results reaching fewer customers who are targeted and therefore receptive to your message than trying to reach a larger untargeted market that's not interested in your message.

Additional Resources
Business plan outline with links to further information about each section
The Successful Business Plan by Rhonda Abrams book review