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.
- 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.
- Describe your customers. Clearly define who they are, what they want, what motivates them to buy, where they are located, etc.
- Establish marketing and sales goals. Goals must be realistic and strategic to gauge progress. They must be sensible, measurable, meaningful and time specific.
- 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.
- 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.