Creating a Marketing Plan For Your Business

September 28th, 2010 | Posted by admin in Business - (0 Comments)

A Marketing Plan is very important when managing a company, be it a small, medium or large scale business. It is the core of any marketing program and there are a variety of them according both to the type of business and its size.

A large corporation will have a number of marketing plans according to the size and geographical scope of the business and also to the range of products and services offered. A smaller business, however, will generally have a single marketing plan that will be the focus of the entire marketing strategy.

The most effecting marketing plans are those that are simple yet are effective and easy to implement. The benefit of having a short and simple marketing plan is that it can be easily updated and enhanced. Do not waste your time formulating a massive tome comprising hundreds or even thousands of pages.

Remember, a marketing plan is and must be a fluid document. It is something that you can modify any time depending on the changing circumstances.

A major aspect of a marketing plan is market research. You should make sure that all related data about your market are being considered. This part of your plan will focus on both existing customers and clients, and those that you are planning to secure.

What is your demographic? Take note of the target markets, their behavior, their buying decisions, and the market segment. You’ll also have to take note of your product. Who is your competition? What do they offer in comparison to what you offer? Write down your current sales and benchmarks in the industry.

How does your product address the needs in your market, and also make a note of these needs. Can your marketing plan include an element of new product development, or existing product improvement?

Then make sure to describe your competition in detail. What is unique about your product? You should be able to come up with a USP (unique selling proposition) that will show your customers how you stand out from the competition. Additionally to this, note how your competition handles their branding in comparison to how you do yours.

In your marketing plan, it is a good idea to include your mission statement. That mission statement must include your key market, your contribution to that market, and how you are addressing their needs in your own unique way. In short, how do you distinguish your business from the others?

Your market strategies are a very important part of your marketing plan, and many people confuse the two. However, your plan is basically what you must do, and your strategy is how you go about doing it. Make sure that you go through each of the different strategies and see how you will address those.

Marketing strategies include networking, advertising, trade shows, direct selling and marketing, exploiting your own web site, press releases, training programs, and giving advice through discussion boards, forums or website content. Other basic items that should be listed in your marketing plan includes branding, budget, marketing goals, positioning, pricing, and monitoring of results.

These form the basis of a good marketing plan, but at the end of the day it is how you follow that plan and achieve the end results that matter, not the plan itself. The plan is the blueprint, but your marketing strategies will dictate the end results.

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A Common Marketing Plan Outline for a Small Home Based Business Venture

September 27th, 2010 | Posted by admin in Business - (0 Comments)

What is a Marketing Plan?
A marketing plan consists of a list of actions needed to attain marketing targets. It might be for a product, a service or a brand. There are marketing plans for short term targets – 1 year, and long term goals – five years.

A marketing plan could be part of an overall business plan format. A good marketing strategy is the bedrock of a good marketing plan.

Why does a Home Business necessitate a Marketing Plan?
A marketing plan can assist a home business venture owner to focus his marketing efforts. It ensures methodical technique to providing products and services to fulfill and satisfy customers’ needs.

How to formulate a Marketing Plan
Drawing up a marketing plan is not that cumbersome. Center on the content and do not fret about the writing style. Center on the targets and the efforts required to attain them need to be stated clearly in the marketing plan. Take note that a sound marketing plan sets clear, realistic, achievable  and measurable targets. It should contain deadlines, a budget and allotment of  responsibilities.

Marketing Plan Outline
A common marketing plan outline might consist of these topics:

Current Market Analysis
Explain the current market condition which the business is in. It can later be used as a benchmark to tweak the marketing plan in the future. By using a marketing plan SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis and also the PEST (Political, Economic, Social, Technological) analysis tools, write a brief description of the current product or service available, the marketing boons and obstacles the business might chance upon. Ponder over the threats posed by competitors and also study other factors that might affect the business in the year to come. This may aid in the development of strategies in the future.

Target Market
Definitely every product or service requires a market. This explains why customer analysis in marketing plans is essential to its success. The product could be directed at the online market as well as the offline market. It could be targeted at the general public or it could be targeted at a niche market. For an online market the analysis should include reasons why people shop online. Once a target market is determined, write a target market profile based on demographics and include selection benchmarks.

Marketing Objectives
Express the company’s marketing targets for the coming year. The goals should be specific, realistic and measurable in order to gauge the marketing progress. Avoid vague statements such as, “Increase indoor sales.” Incorporate specifics instead – “Increase indoor sales by 25%.”

Strategies to Achieving Objectives
If the marketing aim is to boost indoor sales by 25% then a strategy must to be formulated to meet this objective. For example, there could be special a promotion for walk-in customers. This promotion can be marketed through an emailed weekly newsletter to buyers. The strategies should be extensive and cover the 4P’s of marketing – Price, Product, Place, Promotion.

Marketing Budget
Exercising marketing strategies to reach marketing objectives costs money. Create a breakdown of marketing concerned expenses associated with the strategies. Have a look at the numbers and decide if it is too large a figure. Do not be afraid to lower or revise the budget until a practicable figure is attained.

Keep in mind that a marketing plan has to remain an ongoing process throughout the life of a business venture. Marketing plans should be adaptable to changes in environment so as to remain relevant. 

Brad Keet is an entrepreneur and Internet junky. Brad invites you to journey with him as he forays into the world of online home business and other things of interest to 20 somethings. For more of Brad’s take on things, log on to www.fromhomeeveryday.com

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Article Marketing System – Do You Have Professional Article Marketing Plan? If Not You Are Leaving Thousands Dollars On The Table

September 26th, 2010 | Posted by admin in Business - (0 Comments)

Article marketing system starts with professional article marketing plan. If you don’t still have a proper article promotion plan, then you are likely leaving thousands dollars on the table. So start creating your article marketing plan by reading this article about how to plan article marketing. 

Here are 3 Steps to Creating Professional Article Marketing Plan:

1.    Define Niches.  

Intensive article marketing should include several campaigns at a time. Therefore first you have to determine several niches for promotion. Do some research and find out the most profitable niches to start with. 

2.    Determine The Amount Of Articles You Will Write For Each Niche.

Many bum marketers decide to write at least 30 articles for each affiliate product to test how profitable it is. Some article marketers might write 50 articles per product for the first time. So determine in advance your own article marketing system – how many articles you are going to write and submit per niche.     

3.    Determine Daily Schedule All In Detail. 

After the above mentioned 2 steps of article marketing plan, it is easier to create an exact daily schedule describing all details like: the number of articles to be written per day, the volume of daily article submission, the exact time of distribution, the list of article directories, and the lasting time of each article marketing campaign. 

Conclusion: 

Article marketing system is quite complicated and can done properly only in case if you act according to professional article marketing plan. In this way, you will double or even triple your daily and monthly income through only article promotion. 

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Business Plan – 7 Easy Steps to Create Your 2008 Business Plan

June 22nd, 2010 | Posted by admin in Business - (0 Comments)

Did you take some time this past week to think about your resolutions for 2008? (I bet you have!)

Resolutions create energy and promise. However, if we just have a list of goals and “things” we would like to accomplish with no “action plan”, those under- achieved resolutions can end up making us downright depressed!

This year, are you willing to try something different when setting your business goals for 2008? You can create what I call Your Simple Business Plan by following through the 7 easy steps I will outline for you.

Your Simple Business Plan will include just 4 goals that you want to achieve in your business within the next year. 4 goals may not seem like a lot, but, believe me; it’s probably more than enough with everything else you have going on in your life! (Your Simple Business Plan is a 1-year plan that is actually part of a much larger strategic plan you have for your business.)

Oh, one more thought, resolutions aren’t only about your business and career; I’m sure you’ll be thinking about goals for your personal life, as well. Before you develop Your Simple Business Plan, take a few minutes to think about how well your overall life is balanced, and set personal goals, as well as business goals.

Following are the 7 steps you can take to measure your life balance, and create Your Simple Business Plan:

1. Measure Your Life Balance

Before you develop a vision for your business over the next year, consider this:

Your business should support and help you achieve your life vision, and goals. If you set only business- related goals, you decrease your odds of having a well-balanced, happy life, and achieving those business goals!

Before you move on to Step 2, I first encourage you to measure your life balance. The life areas to measure are your; financial situation and career; social and cultural situations; spirituality and ethics; family and home; mental and educational levels; and physical well-being and health.

Use The Wheel of Life to measure your degree of satisfaction in the different areas of your life. On a scale of 1 to 10 (where 1 is low and 10 is high), ask yourself how satisfied you are with the different life areas on the wheel. You may find some other goals you want to work on besides your business goals, to help you create the life vision you desire.

You see, this is why having 4 business goals is more than enough to work on achieving, because it’s not ALL you are going to do in 2008 to have a happy, well- balanced life!

2. Create Your 1-Year Business Vision.

Great job completing The Wheel of Life! You’re now ready to create your 1-Year Business Vision.

One of my favorite exercises is creating an exciting and vivid vision of what I want my business to look like over the next year. Let your imagination run wild and type away, making sure you record EVERY thought, dream, and direction you want your business to take. Dare yourself to dream and “think big”.

3. Review Last Year’s Business Goals.

Before establishing your 2008 goals, review your 2007 business goals. Did you achieve what you set out to do? If so, congratulations! If not, are those goals still relevant? Acknowledge the progress you’ve made, but, don’t lament over the goals you didn’t reach. Move forward with your new or revised goals for the future.

4. Choose a Theme.

Usually from the 1-year vision exercise, a theme (or themes) will emerge about what seems right to focus on over the next year. It may be relationship building, product development, or implementing a new marketing plan to grow your business.

Choose a theme (or themes) that you will focus your goals on achieving. (Choose no more than two themes!)

5. Choose 4 Goals to Focus on Within Your Theme (s).

Choose one goal that follows the overarching theme (s) to work on each quarter. For example, if your theme is ‘increase market awareness’, your first quarter goal may be to ‘add 25 new business referral contacts to your business referral list’. Your second quarter goal may be to ‘publish 12 articles online’ or do a Podcast. Develop additional goals for quarters three and four.

6. Break Down each Quarterly Goal into Monthly, Weekly, and Daily Tasks

Now that you know what you want to focus on each quarter, figure out what you need to do each month, week, and day of that quarter to reach your goal. This is your action plan!

A good idea is to treat each goal as a project. Make a list of all the tasks you must accomplish to reach your goal. Buy a notebook with inside pockets or a clear front cover. Put your task list inside the front cover pocket. Keep all your working papers, articles, and resources you need to accomplish your goal in this ONE notebook. As you complete tasks, check them off your list so you can see and gauge your progress.

WARNING: Most people skip this step after they develop their goals. If you break your elephant goal into baby steps, I can guarantee reaching your goals will be easier!

7. Get support

Buddy up with a colleague or hire a coach to keep you on track and moving forward. Check in at least once a week with each other to ensure forward progress, and celebrate your victories!

If you follow the 7 steps, I have outlined for you, by this time next year, you will be astounded, and elated at the goals you’ve accomplished with Your Simple Business Plan!

Copyright 2007 Bonita L. Richter and Profit Strategies.

Bonita L. Richter, MBA, founder of Profit Strategies, teaches solo professionals and small business owners how to launch and grow businesses, attract more clients, and market their businesses to increase sales, business success, and generate wealth. Find out more about how to market your business and boost sales with her popular FREE eBooks at ===> Profit Strategies.

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How To Write A Successful Home Based Business Plan

June 21st, 2010 | Posted by admin in Business - (0 Comments)

Before writing a business plan for a new business, consider these issues. What makes your product or service different and what needs does it fill? Who are your potential customers and what will make them purchase from you? How will you market your product or service? Where will you get the capital to start your business?


Begin with a cover sheet that includes the name, location, and telephone number of the business and the name of the person who wrote the business plan. Use a loose leaf binder to package the plan and to facilitate any revisions.


Keep it as short and crisp as possible. Include a one or two page executive summary with an overview of the most important issues in the plan. Include the business niche, marketing strategies, management strategies and finances. Organize it with a table of contents that shows logically arranged sections and appendices.


Identify your target market in the plan. This is very important. Indicate whether the market is growing, steady or shrinking. Provide extensive details about competitors, including their strengths, weaknesses, and all other estimated market shares. Include your pricing strategy and how you plan on marketing and promoting the business.


Explain the benefits of your product or service to the user or consumer. Describe how it is unique and its appeal to customers. Include information about your business location, current and future space requirements and area demographics. Focus the plan toward the future. Attempt to develop industry trends over the next three to five years.


Highlight current and potential problems and demonstrate how they will be overcome. This will enhance your credibility.


How to strengthen your home based business


Just as you build marketing structures for each new year, it is possible to design profitable small business enterprises as well. As a business owner, sometimes you have to ask yourself, “what can you do that will make your existing or brand new business venture better, healthier and stronger?


Here are a few suggestions you need to take in consideration when attempting to strengthen your home based business:


First you should write or update a business plan.

If you have a business plan, when did you last update it? Are all the main key elements up to date? Has the environment changed? Has the capital changed, etc? It is a must that you update your business plan frequently. This is one of the main things that private investors, companies, and organizations look for when deciding on financing your business. If you don’t have a plan, it is time to craft one to properly evaluate your home business goals and map your course toward reaching them.


Take a class or attend a workshop

These can be very effective. It is important that you learn to network and build long lasting relationships with people within your industry. You never know who can help you or you helping them. Also, as a business owner, the business can only go as far as you can take it. Why not consider upgrading your skills or learning new skills? If you can utilize your time and money strategically, it usually will pay big dividends in the long run.


Attending seminars, workshops, and conventions in your industry will also play a big role in the marketing of your business. They offer network opportunities, educational programs, provides members with services and information, and stand for the values that we as business people take very seriously. You will be surprised at the endless of opportunities for additional profits that you never knew existed with attending workshops.

Carael Knight is a very aggressive internet marketing expert.
MajorEnterprise is an Independent Internet Marketing And Advertising Company That Specializes In Boosting Website Sales.

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