Marketing Plan and Sales Strategy

WEEK 3 WITH FEEDBACK , WEEK 4, AND THE TEMPLATE FOR THIS ASSIGNMENT WILL BE ATTACHED!!!!!!!!

 

Reminders
  • Your company, whether it’s a startup you created or one based on the snack food company scenario, will operate in a 100-mile radius from your home address. Your goal is to reach $1 million in sales by the end of the second year.

 

  • Section 1: Marketing Plan and Sales Strategy

In MS Word, write the 3 page marketing plan and sales strategy section of your business plan, in which you:

  1. Revise the companys target market based on the feedback received in the Week 3 (WILL BE ATTACHED)
    • Be sure to include demographic, geographic, lifestyle, psychographic, purchasing patterns, and buying sensitivities in the target market description.
  2. Assess your chosen companys market competition.
  • When assessing the competition, specify the exact company and particular product or service you are competing against. For example, Coca Cola offers a portfolio of products, such as water, fruit juice, and cola. Are you competing against Coca Colas fruit juice product? Or its cola product?
  • Be sure to detail your plan to differentiate yourself from the competition.
  1. Outline the company’s value proposition and create a marketing slogan/tagline for the product.
    • The value proposition tells your customers why they want to do business with you.
    • You need to know what message you want to convey in your marketing slogan before selecting the marketing vehicles in the next step.
  2. Specify the marketing vehicles you will use to build your chosen companys brand and justify the key reasons they will be effective.
    • Marketing vehicles are ways to promote your product. Examples include social media, sponsored events, trade shows, and sampling. You will use a combination of these tactics.
    • Planning to use online marketing tactics? Consult the Online Marketing Tactics worksheet on page 177 of your textbook to guide your response.
Formatting
  • You must include headings in your paper for each major topic.
  • Include a cover page
  • Include a source list page.
    • Note: There is no minimum requirement for the number of resources used in this assignment.

Marketing Plan and Sales Strategy

Introduction

If you’re looking to market your business and create a sales strategy, this guide will show you how.

Marketing Plan

The first step to creating a marketing plan is to define the problem at hand. What are you trying to solve? What pain points do your customers have? Before you start writing any content or designing any marketing materials, ask yourself these questions:

  • What is it that I want my audience to achieve?
  • How will I know when they’ve achieved their goal(s)?

Once you’ve answered these questions, it’s time for some research! If possible, try talking with people who’ve been through this process before—people who have similar goals as yours and have found success in reaching them (or at least someone close enough). The more knowledge we can get about what other people are doing well or poorly (and why), the better equipped we’ll be as marketers ourselves.

Sales Strategy

  • Define the Problem
  • Start with the End in Mind
  • Know Your Audience and Their Needs, Pain Points, and Goals
  • Understand Your Product or Service

Learn how to write a marketing plan and sales strategy.

The marketing plan and sales strategy are two different documents. Marketing plans describe the overall strategy for your business, including all of its components. Sales strategies focus on how you’ll implement this strategy in order to achieve specific results and goals.

The marketing plan should include an explanation of why you’re creating it, what benefits it will bring to customers or clients, who will benefit from it (e.g., employees), who is responsible for creating it (management), when they plan on using this document again next year (or sooner if needed), etc…

Conclusion

To sum up, marketing and sales are two sides of a coin. You need both to build your business, but they work in different ways. So before you start writing your marketing plan or even think about hiring someone else do something first: figure out what kind of person would be the best fit for your company and then get them on board with whatever strategy you choose.

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