Business today does not happen based on chance. In fact, because of how incredibly competitive companies are these days, most start-ups do not make it past their first year. For these and many more reasons, most every business should have a solid business plan. A marketing plan includes numbers, facts and objectives, but it is not primarily numerical; It is strategic. It is your plan of action – what you will sell, to whom you will sell and how often, at what price, and how to handle the distribution.
1. Define your product or service
Moreover, to define how it will differentiate itself from the competition that is currently out there. The more clearly and succinctly describe your product in your marketing plan, the better you will communicate with your target customer. Markets and products have become extremely fragmented. There are hundreds of special interest magazines, for example, each aimed at a specific market segment. It's the same with restaurants, cars and clothing stores retail, just to name a few sectors. Placing the competitive product requires an understanding of this fragmented market. Not only should you be able to describe your product, but must also be able to describe your competitor's product and show why yours is better.
2. Branding Also, product positioning
Of course, the success of products is not defined solely on merit. Take, for example Nike. Most people, when asked, have absolutely no idea what separates a Converse shoe of a Nike shoe. The answer is nothing but a brand name face and a very expensive photo shoot with a famous basketball player.
Of course, even if you have a product with all the features that people are looking for, and a great brand behind it, no one will buy if the price is too high. Similarly, the distribution method, usually determined by where to locate your physical store (if you have a physical store model to your business) is critical. Many consumers will not bother you if it takes too long to drive. For example, people do not mind paying more money for less food in the name of convenience – hence the fast food industry is formed.
3. What is your target market?
The last step is to define a profile of your target customers. You should be able to describe your customers in terms of demographics – age, gender, family composition, income and geographical location – as well as lifestyle. Next Question – So are my customers conservative or innovative? Leaders or followers? Shy or aggressive? Traditional or modern? Introvert or extrovert? How usually do not buy what I offer? How much of it at once? So, is there peak buying periods or times of year that people will not buy my product or service? 4. Education Strategy
You can not rely on word of mouth to get all its customers in the door. While this might work for existing users of a particular industry, you also have to appeal to people who are new to the band of your product or service. Even if you do not make a sale, make sure that its clients clearly understand the benefits of your product or service and its benefits. This includes many things from how to pack and brand their products department of public relations and advertising.