Wondering what should go into part four of a business plan? It depends on what format you follow, but typically the first part of a business plan is the executive summary, the second part is the product and service description, the third part is the market analysis, and the forth part is the marketing strategy. The purpose of the marketing plan is to articulate what implementation approach you will use and to define and describe the different marketing elements that your company can bring into play. There are probably more advertisement opportunities and marketing channels than you might think, and making a case for the ones that best suit your business is important for this section of the plan:
• Online initiatives (banner ads, CPC, etc.)
• Outdoor advertising (building signage, billboards, etc.)
• Print ads (magazines, newspaper, etc.)
• Live media (radio, TV, etc.)
You may also find that trade shows or event marketing will work better for your business, so feel free to research conferences you can attend to make introductions or gather contact information. Your business could be one that responds well to networking or business to business events. What incentives can you off to repeat clients? Are there specific promotional or pricing strategies that you'll use? What are your competitive advantages in the market? This fourth part of the business plan is a good place to discuss these things as well. Want help with this or any other part of your plan? Call MasterPlans today to hear how our experts can help you today: 877-453-2011.
