Preparing Effective Business Plans, Ch. 7

Marketing Plan

Class,

As you begin to prepare your marketing plan, Chapter 6 states to begin with a market analysis and develop marketing strategies, which will lead you to identifying your target market (Barringer, 2015, p. 1). The chapter includes information on two things to carefully think through: 1) preparing your marketing plan “with the customer in mind” and 2) explicitly detailing the sales process(es) (p. 1).

A marketing plan normally takes time to develop and in preparing to write, you may run into some challenges, such as deciding what and how you are going to achieve your goals. You, also, may need to revise your strategy or strategies over and over again as things evolve but this is not unusual. Keep moving forward as you adapt to the changing environment. Last, an actual marketing plan includes an executive summary, target market, the marketing mix (four Ps), various strategies, financial projections, etc. Keep all this information in mind as you create your marking plan while keeping your focus on the customer.

Dr. E

Reference
Barringer, Bruce R. (2015). Preparing Effective Business Plans: An Entrepreneurial Approach (2nd Edition). Pearson.

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