Heardgian

Your marketing plan should start with an executive summary. The summary gives a quick overview of the main points of the plan. Although the executive summary appears at the beginning of the plan, you should write it last. Writing the summary is a good opportunity to check that your plan makes sense and that you havent missed any important points. I... ts a good idea to introduce the main body of the plan with a reminder of your overall business strategy, including: This helps to ensure that your marketing plan, your marketing strategy and your overall business strategy all work together. For example, suppose your business strategy is based on providing premium quality products and service. Your marketing strategy and plan will need to take this into account, targeting customers who appreciate quality, promoting your product in ways that help build the right image and so on. Understanding the environment your business operates in is a key part of planning and will allow you to discern the threats and opportunities associated with your area of business. A STEEPLE analysis helps you to identify the main opportunities and threats in your market: Social factors such as changing attitudes and lifestyles, and the ageing population Economic factors such as interest rates, exchange rates and consumer confidence Environmental factors such as changing expectations of customers, regulators and employees on sustainable development Political factors such as changes to taxation, trading relationships or grant support for businesses Legal factors such as changes to employment law, or to the way your sector is regulated You also need to understand your own internal strengths and weaknesses. For example, the main strengths of a new business might be an original product and enthusiastic employees. The main weaknesses might be the lack of an existing customer base and limited financial resources. A SWOT analysis combines the external and internal analysis to summarise your Strengths, Weaknesses, Opportunities and Threats. You need ...Read More