"Enjoy the Xperience"

"Enjoy the Xperience"

Thursday, 29 November 2012

DEVELOPING MARKETING STRATEGY FOR YOUR BUSINESS PART II





The process of developing your marketing plan can help your company allocate resources, organize operations, prioritize activity about problems and identifying new big opportunities.
 
CONTENT FOR YOUR MARKETING PLAN
1.       Executive summary
2.     Marketing information and competitive strategy
3.     Product strategy
4.     Distribution, pricing and promotion strategy
5.     Operations
6.     Financial statements- Budgets and revenue forecast
7.     Management team

We shall examine this content one after the other. Fasten your seat belt as we journey together.
1.       Executive summary
If you take the time to communicate clearly and concisely, you can communicate many of the following sections in one or two sentences.
This is the critical part of your marketing plan. It should summarize the main points that you have made in each sections of your marketing plan and should spell out the reasons that you believe your business strategy will be successful.
Try as much as possible to keep it short and simple (KISS); it should take an average reader no more than five to ten minutes to read. Have it in mind that executive summary should like every communication-be clear, concise and compelling



Sum total of the details you should include in your EXECUTIVE SUMMARY
1.       Describe your product or service
2.     Discuss your target market
3.     Describe your products strategic advantage
4.     Specify dates that have been set as goals for product availability and shipment
5.     Describe any special skills or proprietary technology that provide a competitive advantage
6.     Specify what investments or other resources are required to implement your plan
7.     Summarize projected sales and revenue forecasts
8.     Briefly projected your reason for implementing this product strategy
9.     Outline your objectives and key results
10. Describe your exit strategy for potential investor
We shall review #2 content of the marketing plan in our next articles, till then STAYTOPS!

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