SCORE: Small Business Market Planning

SCORE: Small Business Market Planning

A well-developed marketing plan will raise awareness of your business, attract more customers and increase sales.

SCORE Mid-Shore recommends a five step process to develop a market plan.

  1. Develop an introductory section that gives a description of your business, its products and/or services, the market or business environment, challenges faced and location of your competition.
  2. Describe your customers. Clearly define who they are, what they want, what motivates them to buy, where they are located, etc.
  3. Establish marketing and sales goals. Goals must be realistic and strategic to gauge progress. They must be sensible, measurable, meaningful and time specific.
  4. The heart of the marketing plan is strategies and tactics. Explain your marketing message. Define your brand. This step determines how to communicate your message.
  5. Last, your budget.  Break out projected expenses of marketing efforts.  Develop a marketing budget by calculating  initial marketing expenses against projected revenues.

For further details visit: score.org marketing plan guide.