business owner sales data

How to Develop a Real Marketing Plan If you’re thinking about developing a marketing program, you need to begin with a marketing plan. Having been in marketing for more than a decade, I have seen my share of marketing plans. Some are short and to the point, others are hundreds of pages thick and cost thousands of dollars to produce. The irony is that many of the expensive marketing plans end up on a shelf and rarely get implemented. The simple plans, if researched and implemented effectively, have the greatest impact. business owner sales data Regardless of the scope of your marketing plan, you must keep in mind that it is a fluid document. Every business needs to begin with a well structured plan that is based in thorough research, competitive positioning and attainable outcomes. Your plan should be the basis for your activities over the coming months. However, you should always be willing to enhance or redirect your plan based on what proves successful. MARKETING PLAN BASICS 1. Market Research Collect, organize, and write down data about the market that is currently buying the product(s) or service(s) you will sell. Some areas to consider: business owner sales data •Market dynamics, patterns including seasonality •Customers - demographics, market segment, target markets, needs, buying decisions •Product - what's out there now, what's the competition offering •Current sales in the industry •Benchmarks in the industry •Suppliers - vendors that you will need to rely on 2. Target Market Find niche or target markets for your product and describe them. 3. Product Describe your product. How does your product relate to the market? What does your market need, what do they currently use, what do they need above and beyond current use? 4. Competition Describe your competition. Develop your "unique selling proposition." What makes you stand apart from your competition? What is your competition doing about branding?