Business Plans that Work: A Guide for Small Business 2/E, 2nd Edition

6 MARKETING PLAN: REACHING THE CUSTOMER

We have set the stage for your company’s potential to successfully enter and grow in a marketplace. Now we need to devise the strategy that will allow the company to reach its potential. Figure 6.1 highlights the major sections of the marketing plan. Let’s look at each of these subsections in turn.

Target Market

Every marketing plan needs some guiding principals. Based upon the knowledge gleaned from the target market analysis, entrepreneurs need to position their product accordingly. All product strategies reflect a belief that customer purchases are on a continuum stretching from rational purchases to emotional purchases. As an example, when one buys a new car, the rational purchase might be a low-cost, ...