Writing the Marketing Plan Section of a Business Plan
Posted By Frank Goley, Business Consultant On August 31, 2010 @ 10:35 am In Business Planning | No Comments
First Develop the Products and Services Section of the Business Plan
Developing, writing and implementing a successful Marketing Plan [1] starts with solid Industry and Market Analysis and concludes with an implementable Marketing Strategy and Marketing Programs. A Marketing Plan is not developed and implemented independently; rather, it should be developed in close coordination with your Business Plan [2] Products and Services Section and ultimately implemented through your Company’s Strategic Plan [3] and Sales Plan. The Marketing Plan Section of a business plan is typically developed after the Products and Services Section [4] of the plan have been developed. This gives the marketing plan process a head start on developing a cohesive and competitive marketing strategy and program.
What The Marketing Plan Does
§ Shows how your product and service will be marketed
§ Summarizes your Marketing Research (the actual research is contained in the Appendix)
§ Fully details your specific Target Market Segments
§ Explains and exploits your products and services Competitive Advantage
How Your Products and Services will be Positioned
The Marketing Plan explains in great detail how your products and services will be positioned in the market, all supported by detailed, believable market research. The Marketing Plan carves out your target market niches and develops effective Marketing Programs, along with a Strategic Marketing Plan.
Example Format of the Marketing Plan Section of a Business Plan
1) Industry Overview
2) Industry Distribution
3) Market Segments Description
4) Market Segment Needs
5) Market Segmentation Strategy
6) Market Trends
7) Market Growth
General Nature of the Competition
9) Customer Choice Factors
10) Product and Service Competitive Comparison
11) Competitive Analysis
12) Competitive Positioning
13) Competitive Edge
14) Marketing Strategy
15) Marketing Programs
For more information and a step by step guide on developing a Marketing Plan, see the ABC Business Consulting Business Plan Workbook [5].
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URL to article: http://abcbusinesssuccessblog.businessconsultingabc.com/2010/08/31/writing-the-marketing-plan-section-of-a-business-plan/
URLs in this post:
[1] Marketing Plan: http://www.businessconsultingabc.com/Developing_and_Writing_A_Winning_Marketing_Plan.html
[2] Business Plan: http://www.businessconsultingabc.com/Writing_An_Effective_Business_Plan.html
[3] Strategic Plan: http://www.businessconsultingabc.com/Strategic_Plan_For_Business_Success.html
[4] Products and Services Section: http://abcbusinesssuccessblog.businessconsultingabc.com/2010/08/30/the-products-and-services-section-of-a-business-plan/
[5] Business Plan Workbook: http://www.businessconsultingabc.com/Business_Planning_Guide.html
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