Watch this free presentation to discover how to create the most convincing business plan you could ever come up with, including a rock-solid marketing plan!
Before starting to write an effective Marketing Plan stop and ask yourself three questions. The first two are connected to the info you get from the market research, which will be included in your Business Plan in the Customer Analysis section. The third question will follow up naturally and will be reflected in the Marketing Plan.
Answer this questions and you can honestly state you are on the right track.
1) Who are your customers?
Finish the market research. Analyze both your own research and that of accredited research institutions. Find out exactly what your customers buy, how much they earn, the number of their cars, their location and lifestyle, if they have a car, what is their profession and any other data you can find out.
More info means better results. Just then, you can really assess your target market and give a proper estimate. Real hard data is important for investors.
2) What are the needs of your customers?
Through market research find out what are the needs of your customers. There is a specific way to do this. You can make suppositions by analyzing the products and services they bought to try to fill the need your venture fulfills. Consult research that can tell you if customers will ever purchase a product similar to yours.
Use the newly got info to conclude how many people will actually replace the product they are now buying with your product, if they had the chance.
3) How do you fulfill their need?
You must be active in making a contact with the potential customers and encourage them to reach out to you. Your Marketing Plan will help you do this. The info and knowledge you got while creating the Customer Analysis will help you reach the potential customers directly.
This way you can build an effective marketing strategy, which will be your primary weapon in conquering the market.
Watch this free presentation to discover how to create a marketing plan and a business plan based on real solid research!