Develop A Marketing Plan - Part 1

So you are a business owner. Congratulations! This is an exciting time for you. There are so many things to do - plan inventory, finalize a location, hire employees - all things you have to worry about. So, have you made a marketing plan?

 

This is a key piece of business infrastructure that will help your business grow and be sustainable over the years. A marketing plan is as important as a business plan to keep you on track and to work with to guide you along the path to prosperity. Your marketing plan lays out your ultimate goals and gives you the steps that you are going to take to get there. It is the vision for your business; the way your message reaches your target audience. It is the chart for your success.

Ok. You are convinced; you want to market your business. You know you need to create a marketing plan. But where do you start?

To begin to write a marketing plan, you will need to gather some information:

• Your company's latest financial reports
• Listing of each product or service and target market
• Information on your competitors
• Geographical area
• Audience you sell to
• Current distribution channels
• Demographic data
• Trends in your market

OK, this is a lot to get started. Start here, once you have this you will have the beginnings of the information. Check my next blog for the next step.

Please let me know if you have any questions on your marketing plan. We at Penguin Suits are here to help!