What Information is Needed to Write a Marketing Plan
Creating a marketing plan for your business is crucial. Without one, it would be difficult for a business to generate revenue and successfully make a profit. It’s essential you devise a plan that will clearly define the value of your products or services, with the end result benefiting your customers.
Gathering What Counts
There are four major areas that you must have information about before creating a marketing plan: business resume`, target market, product message, and ‘how-to’ get the message to prospective customers (advertising).
Business Resume: Clarity is the objective of a business resume`. Within the text, list the strengths of your product or service. Think of it as molding your knowledge. After all, would you write a marketing plan about something you know nothing about?
Target Market: Five simple questions will assist you in identifying your target market. Who are they? What is their age? What is the average income? What is their status? Do they have children? It’s important that you evaluate your target market to determine ‘what’ product or service would sell the best.
Product Message: A product message is a ‘direct call to action.’ This message must create value in the minds of everyone, that hears it, and for every feature, you offer a direct benefit to the customer must be demonstrated.
Advertising: Advertising is an appealing and compelling invitation to buy your product or service. It is an investment that should never be an expense. Finding the right advertisement takes trial and error, what marketers` refer to as “test” advertising. First time out of the box and you can’t expect immediate results.
Every business needs an outline of how they plan to approach the market. Make certain that you address the following questions in the process.
1. What medium is the most popular among your target market? (TV or Radio)
2. What is the percentage of participants in watching or listening to these mediums?
3. Do they read the local paper or magazine?
4. Should you consider direct mail?
Think of writing a marketing plan as breaking down the important elements and charting a path to success. These strategies will be of great assistance when faced with possibility of failure. Business owners need to step into the world of marketing with confidence and knowing where to begin writing your marketing plan is a start.