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Thread: Creating a Marketing Plan

  1. #1

    Default Creating a Marketing Plan



    I just recently read an article about the steps to creating a marketing plan. Actually, there is only one step involved and that is to research. The rest of the article talks about the components that I need to consider when I am creating my marketing plan. Here are the components listed:
    Economics
    Product
    Customers
    Competition
    Niche
    Strategy
    Sales Forecast

    Are there any other business components that I should include in my marketing plan? Thanks!

  2. #2

    Default

    I agree with you! I think checking out the competition first is the most appropriate thing one should do before considering starting a business in that particular market. Also the marketability of that business in the area in which you will start it is very important as well.

  3. #3

    Default

    For me, cost is also a very important aspect in a marketing plan. An effective, but also expensive marketing plan may not be a good strategy to implement in the long run.

  4. #4
    Join Date
    Jun 2013
    Posts
    10

    Default

    Without marketing, potential customers may not be aware of the product or service your business is selling. Without customers, your business may meet its demise. Marketing plays a vital role in business because planning how you’re going to reach potential customers helps to ensure that people are aware of your product or service and that you have an opportunity to convert that awareness into paying customers.

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