How you Plan to go to Market with your product.
The Marketing Plan is a compass and guide; a treasure map of a type leading the business owner to his highly sought after treasure.
Before one starts out on a journey one wisely needs to know where it is you are going and how you will best travel to arrive in good time, and condition. Well it is the same for you and your business.
The journey you travel with your business will require time, effort, money, and other expenditures. Do you have all your bases covered, your Marketing Plan should tell you.
Generally a plan should be for a set amount of time for example 1 year.
The plan should cover the business type you are in and your product/ service.
Who are your identified customers (target market)?
The market is who?
Do they even want your product/ service?
What are their demographics “Male/Female, Age, Income, Education, etc?
You need to know your ideal customers better then they know themselves.
What makes them tick, what do they respond to, and what are their needs and desires.
Where can you find them? How can you efficiently communicate with them?
How can you test you market?
The more you drill down and find out with the least expenditure of time, effort, and money the better.
Exhaustive research will indicate if you will be able to put together a successful Marketing Plan.
The other side of the coin is your product/ service.
What will it take in terms of time, effort, and cost to produce and deliver your product/ service to your identified target market?
Do you end up in the Red or Black?
After all foreseen time, expenses, and costs are factored in do you end up with a viable Business Model? If so you may just have created a successful Marketing Plan.
It’s your Business do not plan to fail by failing to plan.
To your success!