The Marketing Plan section of your business plan is one of the most important parts of ensuring that your business is successful.
The Marketing Plan explains how you plan to get people to purchase your products and services.
It includes sections like:
- Pricing Strategy
- Unique selling proposition
- Sales plan
- Advertising plan
- Advertising budget
- Distribution plan
- Market research
- Competitor analysis
- List of products and services for sale
The easiest way to develop your marketing plan is to download our free template in the Free Business Toolkit.
Products, Services, and Unique Selling Proposition
You need to know exactly what you’re selling and what makes it special for your marketing plan.
- What’s the benefit you’re offering your customers?
- What are the features of your product or service?
- What are the physical attributes of your product or service?
- How does your offering differ from competitors? What sets your offer apart?
Your unique selling proposition is what makes your product and service unique. It should be short and concise and to the point.
Pricing and Positioning
How will your products and services be priced? You must have a pricing strategy that makes your pricing competitive but also allows you to make a profit.
It’s important to be reasonable. Although you can charge any price, you’ll want to charge a price your customers are willing to pay.
So how do you know exactly what to charge? Estimate your price by considering the costs of creating the product or service, cost of delivery, and the price of comparable products and services.
Conduct a breakeven analysis to determine the threshold that allows you to pay for your expenses and make a profit.
Sales and Distribution
The goal of your marketing plan is to get people to buy your products and services. There are three parts to this:
- Distribution Method – how your product or service will be delivered. Will it be online? Direct from the manufacturer? Or will you be the distributor? What are the costs of distribution? How long will delivery take?
- Transaction Process – what systems will you use to deliver your orders, bill your customers, and deliver your products or services. This includes a credit management policy, returns policy, warranties, and customer service.
- Sales Strategy – How will you sell your products or services? Will you use retail? Salespeople? Website?
Advertising
Your advertising section outlines how you’ll get your potential customers attention. It includes things like your marketing budget, promotional avenues you’ll use, and what message you want to deliver to your target market.