Marketing Matters In Your Business Plan!
By Dee Power © 2000
If a business plan is the battle plan to get you investors, then
the marketing section is a minefield for most entrepreneurs.
Marketing matters and its importance can't be overstated. Entrepreneurs
have a tendency to fall in love with their product/service and
just assume that everyone else will feel that same attraction.
"Build it and they will come" works in the movies not
in the business world. Investors cite the marketing section, or
really lack of marketing, as a critical error and a very common
error of entrepreneurs.
The Marketing Strategies Section of your business plan consists
of:
Image Definition
Distribution
Promotion
Image Definition
*****************
When customers think of your company and its products/services
what will come to mind? Will your image emphasize high quality
and exclusiveness, or perhaps friendly, and value oriented. Fast
response, high tech, or customer service oriented. Young and on
the edge or traditional and well established? The image you define
for your company is then carried through in your marketing materials.
Distribution or how will you get your product to market?
********************************************************
What channels of distribution will you use? Will you sell directly
to the end user or wholesale the product? Will you use outside
sales representatives or an in-house sales force? Commissioned
or non-commissioned? Will you license the product and have someone
else market the product for you?
Promotion or how will you tell your customers your
product is available?
***************************************************
**** Advertising Programs ****
You should develop a month by month advertising program which
includes what advertising media you will use and the costs.
**** Promotional Programs ****
Develop your strategy and include your costs for brochures, coupons,
newsletters, again by month and by type of promotion would be
preferred.
**** Public Relations *****
Will you be hiring a public relations agency or have in-house
staff. Develop a press release calendar, press kit, and media
events by month for the entire first year.
Developing a strong marketing strategy is hard and sometimes tedious
work but itÍs critical to your companyÍs success.
**************************************************
 Dee
Power is Co-Author of "Business Plan Kit". Packed with
over 70 pages of critical information, examples for Dot.Com companies,
an Excel spreadsheet to forecast 3 years of expenses and revenues,
Business Plan Worksheets and lots more.
Visit http://www.capital-connection.com/htdabp.html
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