Marketing Strategy In Business Plan

The purpose of the market analysis is to set the stage for presenting your marketing strategy.

That strategy sets forth your plan for successfully competing in your selected market.

How do you determine if there are enough people in your market willing to purchase what you have to offer at the price you need to charge to make a profit?

The best way is to conduct a methodical analysis of the market you plan to reach.

In essence, the marketing plan takes the marketing strategy that you developed to a tactical level.

It sets forth the specific steps you will take to sell your product or service and provides a timetable for those actions to occur. If you decide on radio ads, which stations will you choose and at what times of day will you run ads?The marketing and sales plan usually includes a calendar that ties marketing and sales activities to specific operational events.For example, an advertising campaign may begin some months before a new product is ready to be sold.In contrast, if your business deals in the sale and production of large quantities of product with little associated service, you will face a different challenge. A coffee distributor roasts and grinds coffee for resale to a number of local convenience stores. The people who buy and drink the coffee are the end users of the product.But the convenience stores are the target market for the distributor's product.Your marketing and sales plan explains how you will reach your targeted customers and how you will effectively market your product or service to those customers.For example, the marketing plan specifies the types of advertising you will use and the timing of those advertisements.In the marketing strategy section of your plan, you'll address issues such as: You'll find it useful to keep in mind the 4 Ps of marketing (product, price, promotion and place) as you define the scope of your marketing strategy.Be sure to stress what is unique about your business.In addition to the back office tasks, the contractor will also spend time meeting with potential customers, discussing the job, preparing and submitting bids or estimates, etc.These are vital sales activities and are essential to keeping work lined up.

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