Marketing Strategy For Start-Up Businesses Or New Product Launch (Page 2 of 5) in pdf

Marketing Strategy for Start-Up Businesses or New Product Launch

Situation Analysis

The primary purpose for the situation analysis section of a marketing plan is to describe what is happening in the markets

in which the company competes, and the company's product and distribution trends. A simple, common-sense approach

to organizing and providing only relevant information is recommended for this section.

Subsections should go from the "big picture" of macro-environment influences on your business down through total

market descriptions, the competition, target buyers/end users, and, finally, product trends and your company distribution

channels description. Sales and Marketing Plans

This section of the marketing plan outlines each marketing event or action planned to increase sales. The plan will

generally cover a calendar year, broken down by month or by quarter. For example, it may contain a summary of

quarterly promotion and advertising plans, with spending, timing, and share/shipment goals for each program.

Building a Successful Marketing Plan

Every business, small or large, will be more successful with a business plan. And the key component of a

business plan is the marketing plan. A good marketing plan summarizes the who, what, where, when, and

how much questions of company marketing and sales activities for the planning year:

•

Who are our target buyers?

•

What sources of uniqueness or positioning in the market do we have?

•

Where will we implement our marketing spending plans?

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When will marketing spending plans occur?

•

How much sales, spending, and profits will we achieve?

The financial projections contained in your business plan are based on the assumptions contained in your

marketing plan. It is the marketing plan that details when expenditures will be made, what level of sales

will be achieved, and how and when advertising and promotional expenditures will be made. Here are the

major elements of a marketing plan:

•

The situation analysis describes the total marketing environment in which the company competes

and the status of company products and distribution channels.

•

The opportunity and issue analysis analyzes the major external opportunities and threats to the

company and the internal strengths and weaknesses of the company, along with a discussion of

key issues facing the company.

External opportunities and threats to the company should be described with possible

programs to capitalize on the opportunities, and possible solutions to potential threats to the

company.

Internal strengths and weaknesses of the company should be described in a competitive

context.

Key issues addresses decisions to be made by the company, based upon the analysis of these

external opportunities and threats and internal company strengths and weaknesses, and helps

to determine objectives, strategies, and tactics.

•

The goals and objectives section outlines major company goals and the marketing and financial

objectives.

All objectives should be carefully quantified, where possible, especially in terms of an achievable

time or date. Objectives should be reasonable and attainable.

Major company goals could include both short- and long-term goals. For example:

•

company definition (e.g., "to be a manufacturer of 100 percent all-natural snack food

products")

Marketing Strategy For Start-Up Businesses Or New Product Launch Page 2

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