Marketing Plan Outline For a Small Businesses – Free Download
How to write a marketing plan outline example
What is a marketing plan outline? Do you know what to include in a sample marketing plan outline for a new product? Businesses are ventures that are set up and structured to meet the demands, needs and wants of a target or multiple audiences. The advent of technology, with particular reference to the internet, has opened windows of opportunities and challenges for the modern day small business.
While the opportunities are predicated on seamless trade and consummation of transactions over long distances; the challenges for small businesses include what goods and services to offer to the market at competitive prices, determining what segments of the market to focus on, how much funds should be spent on research and development as well as product improvement.
How to make a marketing plan outline
These prospects and challenges should be adequately captured in doing a marketing research plan outline for a small business. A marketing plan template gives the small business solidity and a firm footing in navigating the waters of the business world.
Outline of a Marketing Plan Template and Guide
It is a template that shows how and where income will be generated, how product/service will be improved and what customer-engagement practices should be followed, in order to achieve the overall short, medium and long-term goals/vision/mission of the small business. The components of a marketing plan outline or template will cover the following critical areas:
Sample Outline for a Marketing Plan
Identifying the Market Situation
An effective social media marketing plan for a small business should be able to properly assess the trends and happenings in the marketplace. This should also include an analysis of the competitors of the small business.
A marketing plan executive summary outline should highlight the strengths, weaknesses, opportunities, and threats posed by the competitors in the market. A thorough analysis of these factors will help the small business situate its competitive advantage even in its franchise marketing plan sample.
Identify the Target Market.
The ideal internet marketing plan outline for a small business should be able to identify and isolate potential customers and patrons of its goods and services. The small business should avoid making the mistake of broadly classifying its target market, in order to maximize profits as well as reduce cost.
An example in this instance would be for a small business that sells foreign language instructional materials, to seek a market comprised of students and international workers, whom may be required to travel to other parts of the world for study and work.
Identify the 4Ps of Marketing
A sample of marketing plan outline for a small business must essentially address the major pillars of marketing which includes Product, Place, Pricing, and Promotion. The product will be what the small business is offering to sell to its target market.
The place will involve where the customer or target market can be brought into contact with the service or goods to be sold. An essential attribute of place in the email marketing plan outline is that it must be accessible for the receipt of goods to be sold and the customers who will make the purchases.
Pricing involves offering the goods/services to the final consumer at a price that will make the small business profitable, that can be borne by the target market and that takes into cognizance the competition in the marketplace.
Promotion includes all activities that create awareness and patronage for the goods/service to be sold to the market.
This step entails the small business stating in great detail, how it will go about promoting/advertising the service or product it intends to offer to the marketplace. For example, instead of the marketing stating ambiguously that it intends to advertise in a local newspaper, the plan should be broken down into specifics such as the name of the newspaper or publication, the targeted demographic, how often the advertising will run as well as other detailed information.
Provide a Marketing Timeline and Budget
This section of a product marketing plan for a small business should give a detailed view of the expenses to be incurred in the course of marketing the product/service, as well as when set objectives will be met.
This part of the plan should also include means of measuring achievement and timelines. For instance, the marketing plan format should state how much will be generated from television advertising over a 30 day period, through the sale of a product via that channel.
When creating examples of sales and marketing plan, bear in mind that the plan must be adjusted with the following in mind:
1. The Objectives must be realistic.
In order words, the global marketing of a small business must set achievable targets that are broken down into small steps and goals.
2. The objectives must be Time-bound and measurable.
A new product will not be instantly accepted by the target market. Therefore the marketing plan outline of a small business must make room for continued customer engagement with the product offering in order to create a market share for the small business.