A marketing plan is an essential guide for every small business and owner – it’s a researched and written plan to guide your marketing investment. The marketing plan is updated quite frequently, usually every six months to a year.
The 10 parts of a marketing plan
To create an effective plan, you’ll need to answer the following ten questions:
1. Marketing Strategy: How will your marketing plan support your business goals?
2. Mission Statement: What are you trying to accomplish, and why?
3. Target Market: Who are you trying to reach with your marketing activities?
4. Competitive Analysis: Who are you up against, and where do you rank?
5. Value Proposition: What makes your business unique?
6. Pricing Strategy: What will you charge, and why?
7. Promotional Plan: How will you reach your target market?
8. Marketing Budget: How much money will you spend, and on what?
9. Action List: What tasks do you need to complete to reach your marketing goals?
10. Metrics: How are you implementing, and where can you improve?