Part V Marketing Plan
The marketing plan focuses on how the business will market and sell its product. It deals with the nuts and bolts of marketing in terms of price, promotion, distribution, and sales. For example, Allbirds, a firm producing shoes that are comfortable, stylish, and eco-friendly, may have a great product, a well-defined target market, and a good understanding of its customers and competitors, but the firm still must find customers and persuade them to buy its product. The best way to describe a company’s marketing plan is to start by articulating its marketing strategy, positioning, and points of differentiation and then talk about how these overall aspects of the plan receive support from other variables and activities such as price, promotional mix and sales process, and distribution strategy. Obviously, it is not possible to include a full-blown marketing plan in the four to five pages permitted in a business plan for the marketing section—the goal, though, is to present the high points.
1. Overall Marketing Strategy
2. Pricing Strategy
3. Promotion Strategy
4. Distribution Strategy