One of the biggest benefits of developing a marketing plan is that it helps you focus your resources and plan for business growth.
The planning process helps you to understand the different factors that may affect your success. Instead of worrying about the future, you can actually have a sense of control over your business.
Questions to Consider:
- Who are you selling to? Why would they buy your products/services over others?
- How do you plan to enter the market? How do you intend to attract customers? How and why will this work?
- Identify your businesses strengths, weaknesses, opportunities, or threats.
- Where do your products/services fit in the market? Are they high-end, competitive, or a low-cost alternative to the products/services offered by your competitors? How does this compare to your competitors?
- How will your products/services succeed in the market where others may have failed? What gives your products/services a distinctive edge?
- Do you have a particular pricing strategy? Why have you chosen this strategy?