Steps to Writing a Marketing Plan

Developing a Marketing Plan is a key factor to the success of your business. The Marketing Plan maps out where the business is heading. It is one of the most important written documents for your business, telling you, your company associates and employees where the business will be heading and how you hope to market your products, at least for the year ahead. It's important to remember that as time goes on, markets will change, and employees and customers will come and go.

When it comes to writing a Marketing Plan, it may even take a few months to complete. Take the time to make sure you really understand your business and where you want to go with it. While plans don't always go according to expectation, it is important to have guidelines to follow and chart what you hope will happen.

Gather information about your company and your business environment (target market, competitors, trends, location, strategies, budget etc.). The main purpose of your Marketing Plan is to find your market, customers and competitors, and to expect and prepare for change. Consider the following questions when planning your Marketing Plan:

What is your product?
How is it different to the competitor's product?
What will customers gain from the product?
Who is your target market?
What do the customers want?
What do your customers like and dislike?
How will you gather customer feedback?
Where is your product needed?
Where does your company fit in with the competition?
Who are your competitors?
How are your competitors performing in the market?
What are your competitors doing to attract customers?
Determine a price for your product.
Is your price competitive in the market?
How will you project your business?
How will you attract new customers?
How will you encourage customers to come back to your business?
Where will you market your product?
Is your location convenient for customers?
What is your marketing budget?
What items will be included in your marketing budget?
How much of the budget will be allocated to advertising?
How much of the budget will be allocated to promotional material (tshirts, pens, hats, etc.).
What form(s) of media will you use to market your product?
Which form(s) of media will be most effective?

Your aim in writing the Marketing Plan should not only involve attracting customers, but also expanding the customer base and adjusting to changing trends in markets and the business environment. It should also provide solid research to show investors that your business is worth the risk for their money.

A well-written and effective Marketing Plan will definitely increase sales and attract customers. But you also need to convince your customers that they are receiving the finest products and/or services for the best possible price.


Bizymoms has been helping women work from home for over 10 years. Now, Bizymoms strives to help women expand their knowledge in Business through their FREE E Courses. Visit Today!