How to Create a Marketing Plan - 1100 Words

How to Create a Marketing Plan by Vinny La Barbera When was the last time you dusted off that marketing plan you created for your business? Wait, you do have a marketing plan, right? Well, if your marketing plan somehow found its way to the recycle bin or if you have actually never planned out a marketing strategy for your business then BusinessMarketingBlog is going to help you. Before we jump into the 6 Simple Steps to Developing A Marketing Plan, it is important that you understand the following elements of every successful marketing plan: 1) Spend the time and resources to plot out your marketing strategy and budget 2) Implement your marketing plan 3) Analyze and adjust your marketing plan as needed 4) Refine your marketing†¦show more content†¦Step 5: Determine Your Niche Now that you have pin-pointed your purpose, benefits and target market, you need to define your niche. Ask yourself this question: QUESTION: When people hear your product / business / company name, what’s the first thing that crosses their minds? Is it price, speed, exclusivity, service, value or something else? Your answer to this is your niche, also known as positioning, and it is what your prospects see and expect from you. The more defined and specialized your business becomes, the more likely it is to succeed in the long run so put some thought into this one. HINT: Once you define your niche, specialize in it as much as possible and communicate this niche throughout all of your marketing Step 6: Determine Your Marketing Budget Last, but most definitely not the least important, is to define what your marketing budget is for your business. Your marketing budget is something that should be evaluated at least 4 times a year, if not more. You should stick to your planned budget as much as possible. Too often do we see businesses get nervous in tough economies and decide to cut expenses with marketing being one of the first to see cuts. QUESTION: Do you really think that cutting your marketing budget or holding off on aggressive marketing is going to position your business appropriately in any economy? Marketing is not something you should ever cut corners on, especially in down economies when opportunitiesShow MoreRelatedMarketing and Act Convert Engage1038 Words   |  5 Pagesfor online marketing Table of contents Start here – how can this template be used? 1 SOSTAC ® Digital Marketing Plan outline incorporating RACE 2 SITUATION 2 OBJECTIVES 2 STRATEGY 3 TACTICS 3 ACTIONS 4 CONTROL 4 Start here – how can this template be used? SOSTAC ® and RACE are two of the main tools we’ve created to help marketers plan and manage their marketing. It’s no surprise that weve had several questions asking for more information about how they relateRead MoreMarketing Plan Essay795 Words   |  4 PagesHow to Develop a Marketing Plan that Will Add Value to Your Business Studies show that companies with a marketing plan in place are more likely to be successful in their marketing efforts. One study showed that businesses that plan grow 30% faster. According to another study, 71% of fast-growing companies have plans. Those companies create budgets, set sales goals, and document marketing sales strategies. A solid marketing plan will help you generate leads, build awareness with your target audienceRead MoreMarketing Plan827 Words   |  4 Pagesï » ¿Marketing Business Environment Marketing Planning: An Overview of Marketing 6 main questions to ask in order to create your marketing plan: 1. Where are we now? (Business Mission, Marketing audit, SWOT analysis) 2. How did we get here? (Business Mission, Marketing audit, SWOT analysis) 3. 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The first element of a campaign plan is the case, the second part is the leadership, the third isRead MoreImportance of Marketing882 Words   |  4 Pageshead: THE IMPORTANCE OF MARKETING IN ORGANIZATIONS The Importance of Marketing in Organizations Verisha Barrett University of Phoenix Marketing MKT/421 Marc Mosko Apr 22, 2006 The Importance of Marketing in Organizations Marketing has become one of the most critical increasing forces which drive today’s companies. With marketing a company has power to carefully plan and implement the strategies to make a company successful. I view marketing as everything a company