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o The Six Steps to getting your new customers.
o How to understand customer needs.
o How to know who your clients are and where they are located.
o How to conduct your own full scale market research with emphasis on the two ways to conduct your market research.
o The four methods for getting your first customers for start-up businesses!
o How to implement a successful marketing program!
o How keep your customers coming back!
o How to establish Loyalty and Rewards programs!
o And more.
· Promotional Details: How to get new accounts and new customers is the #1 concern of any business. How to get the new customers you need to provide the income your business requires is a matter of prime importance to survival and growth. Many businesses, large and small, approached new customer acquisition in a haphazard, unplanned, and uncoordinated way. The results are usually disappointing, expensive, and inadequate from the standpoint of a contribution of to the profitability and success of your business.
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Print out and use the following template along with the instructions and information included in The Marketing Plan for Independent Inventors or The Business Plan for Independent Inventors
Need a print-friendly version of this page - go here.
This is the marketing plan of_____________________________________
I. MARKET ANALYSIS
A. Target Market - Who are the customers?
1. We will be selling primarily to (check all that apply): Market Segment Total Percent of Business a. Private sector % b. Wholesalers % c. Retailers % d. Government % e. Other %
2. We will be targeting customers by:
a. Product line
We will target specific lines _________________
b. Geographic area? Which areas? _________________
c. Sales? We will target sales of _________________
d. Industry? Our target industry is _________________
e. Other? _________________
3. How much will our selected market spend on our type of product or service this coming year? $_______________
B. Business Competition
1. Who are our business competitors?
NAME _____________________________________
ADDRESS _____________________________________
_____________________________________
Years in business ___________________
Market share ___________________
Price/Strategy ___________________
Product/Service
Features ___________________
NAME ______________________________________
ADDRESS ______________________________________
______________________________________
Years in business ___________________
Market share ___________________
Price/Strategy ___________________
Product/Service
Features ___________________
2. How competitive is the market?
High Competitive Market ____________________
Medium Competitive Market ____________________
Low Competitive Market ____________________
3. List below your strengths and weaknesses compared to your business competition (consider such areas as location, size of resources, reputation, services, personnel, etc.):
Strengths Weaknesses
1.________________________ 1._______________________
2.________________________ 2._______________________
3.________________________ 3._______________________
4.________________________ 4._______________________
C. Market Environment
1. The following are some important economic factors that will affect our product (such as country growth, industry health, economic trends, taxes, rising energy prices, etc.):
______________________________________________________
______________________________________________________
______________________________________________________
2. The following are some important legal factors that will affect our market:
_____________________________________________________
_____________________________________________________
_____________________________________________________
3. The following are some important government factors:
______________________________________________________
______________________________________________________
______________________________________________________
4. The following are other environmental factors that will affect our market, but over which we have no control:
______________________________________________________
______________________________________________________
______________________________________________________
II. PRODUCT OR SERVICE ANALYSIS
A. Description
1. Describe here what the product/service is and what it does:
______________________________________________________
______________________________________________________
______________________________________________________
B. Comparison
1. What advantages does our product/service have over those of the competition (consider such things as unique features, patents, expertise, special training, etc.)?
______________________________________________________
______________________________________________________
______________________________________________________
2. What disadvantages does it have?
______________________________________________________
______________________________________________________
______________________________________________________
C. Some Considerations
1. Where will you get your materials and supplies?
______________________________________________________
2. List other considerations:
______________________________________________________
______________________________________________________
III. MARKETING STRATEGIES - MARKET MIX
A. Image
1. First, what kind of image do we want to have (such as cheap but good, or exclusiveness, or customer-oriented, or highest quality, or convenience, or speed, or ...)?
______________________________________________________
B. Features
1. List the features we will emphasize:
a.___________________________________________________
b.___________________________________________________
c.___________________________________________________
C. Pricing
1. We will be using the following pricing strategy:
a. Markup on cost ____ What % markup? ______
b. Suggested price ____
c. Competitive ____
d. Below competition ____
e. Premium price ____
f. Other ____
2. Are our prices in line with our image?
YES___ NO___
3. Do our prices cover costs and leave a margin of profit?
YES___ NO___
D. Customer Services
1. List the customer services we provide:
a. ____________________________________________
b. ____________________________________________
c. ____________________________________________
2. These are our sales/credit terms:
a. _____________________________________________
b. _____________________________________________
c. _____________________________________________
3. The competition offers the following services:
a. ______________________________________________
b. ______________________________________________
c. ______________________________________________
E. Advertising/Promotion
1. These are the things we wish to say about the business:
______________________________________________________
______________________________________________________
______________________________________________________ 2. We will use the following advertising/promotion sources:
1. Television internet ________ 2. Radio ________ 3. Direct mail ________ 4. Personal contacts ________ 5. Trade associations ________
6. Newspaper ________ 7. Magazines ________ 8. Yellow Pages ________ 9. Billboard ________
10. Other_activities__________ ________
3. The following are the reasons why we consider the media we have chosen to be the most effective:
_______________________________________________________
_______________________________________________________
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