Marketing is a broad range of activities focused on compelling people to turn to you and your business for the products and services they need. It is one of the most important business activities because without effective marketing businesses have difficulty attracting and retaining customers. Businesses that don’t have customers also don’t have revenue. And businesses without revenue don’t typically stay in business for long.
A marketing plan helps business owners plan out the branding, channels/mediums, and collateral they will need to successfully promote their business and product or service.
How do I create an effective marketing plan?
A business plan and a marketing plan might have overlap. A marketing plan answers questions like:
- What problem or need does the business address?
- What specific products and/or services does the business sell?
- What makes the business different from competitors?
- Who is the target market?
- Where can people within the target market be found?
- What can be done to get their attention?
- What must be communicated to them to pique their interest?
- What pricing strategies will be used?
- How can the business keep and grow customers?
Are there best practices to making one?
You can learn more about marketing plans in this video called “what is the marketing mix?” by Marketing Business Network. SCORE has a marketing plan template on their website. The Small Business Administration (SBA) offers a downloadable marketing plan example. You might also consider reading through Business.com write up on creating a comprehensive marketing strategy. For a more detailed walk through, try a LinkedIn learning course (available with an active GPL card).
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