In the final analysis the marketing plan is a compass a guide a treasure map. The plan will surely lead the business owner to find treasure.
Case in point before one starts on a journey one wisely needs to know where it is you are going.
In other words how will you best travel to arrive safe and on time?
As an illustration it is the same for you and your business.
Moreover the journey you travel with your business will require time effort money and other expenditures.
Above all do you have all your bases covered your marketing plan should tell you.
Also renew the marketing plan each year.
Then review the plan periodically and often.
Further the plan should cover the business type you are in and your product.
To begin with the market is who?
At the present time can you clearly envision you ideal customer.
So what is his or her name?
For example what does your customer look like?
In short know your customer.
For one thing do they even want your product?
It is important to realize why they want your product?
In detail what are their demographics male female age income education etc?
You need to know your ideal customers better than they know themselves.
Likewise what makes them tick what do they respond to and what are their needs and desires.
Finally where can you find them?
As well as how can you efficiently communicate with them?
To be sure successful marketers test the market.
Similarly the more you drill down and find out with the least expenditure of time effort and money the better.
You will be able to put together a successful marketing plan due to exhaustive research.
By the same token you can never gather too much intelligence.
As a result of research finely balance and tune the marketing plan to perfect the delivery system of your product.
Another key point what is your unique competitive advantage?
Point often overlooked for you to understand your advantage you must know your competition.
Also your competitor brings in their clients with what?
Finally what tools are they using to fish with as in hook line sinker and bait?
On the positive side competition is a good thing it clearly shows there is a healthy market.
As a result customers can buy this product from you or your competition.
Still the other side of the coin is your product and or service.
Firstly what will it take to produce and deliver your product and or service to your identified target market?
By all means the marketing plan factors in all foreseen expenses.
Comparatively does your business end up in the red or black?
Significantly if you end up in the black congrats you have created a successful marketing plan.
In conclusion it’s your business do not plan to fail by failing to plan.
In a word here’s to your success!