Description: The marketing strategy section of the business plan describes who the customers are and how you will get word to them about the goods and services you offer. If the consumers don’t know about your business, you can’t stay in business very long. Besides a breakdown on who you’re selling too, it also explains the competitive analysis of your business.
What to Include: When writing the marketing strategy, be sure to include the following:
- Define the people who are you customers
- What groups of consumers will buy from you
- How will you advertise to your target market?
- Where and what businesses are competing against yours
- How is your business different from the competition?
- What is your competitive edge?
Summary: The marketing strategy part of your business will include the market segmentation, competitive analysis and all other selling strategies. It will require a lot of research. This section may require many pages, as well as, charts and graphs. Ads, brochures or other marketing materials can be included in the Appendix of the business plan.
