Marketing a Business

A marketing plan is a core component of a business plan. It relates specifically to the marketing of a particular product or service and it describes:

An overall marketing objective
A broad marketing strategy
The tactical detail related to specific marketing activities
The various costs associated with these activities
Those tasked with delivering these activities by name

The starting point for […]

When it comes to starting a business, entrepreneurs face a number of challenges, not least the issue of whether there is actually a demand for their particular product or service. The more unique the concept, the greater the challenge in predicting future sales levels. However, as this article will show, there are a number […]

Understanding the dynamics of competitors within an industry is critical for several reasons. First, it can help to assess the potential opportunities for your venture, particularly important if you are entering this industry as a new player. It can also be a critical step to better differentiate yourself from others that offer similar products […]

The exact nature of your plan, and your marketing situation, dictates its contents. You add detail or take it away to suit your needs.
In the real world you’ll want to customise your outline according to whether you are selling products or services, to businesses or consumers, or you’re a nonprofit organisation.
Although the outline does change […]

Advertising is regulated by both federal and state law. Under the law, your ad is unlawful if it tends to mislead or deceive. This means the government doesn’t have to prove at an administrative hearing or in court that the ad actually fooled anyone — only that it had a deceptive quality. Your intentions don’t […]

Every marketing plan has to fit the needs and situation. Even so, there are standard components you just can’t do without. A marketing plan should always have a situation analysis, marketing strategy, sales forecast, and expense budget.

Situation Analysis: Normally this will include a market analysis, a SWOT analysis (strengths, weaknesses, opportunities, and threats), and a […]

Even though we agree that marketing plans will vary depending on the exact nature of your plan, it is hard to imagine a plan that doesn’t contain, at the very least, these four essential tables. Usually you’ll have these plus several others.
Market Forecast
Analyze your market by segments and project market growth for five years.

Sales […]

Anyone who has ever read a book on sales or taken a sales course has heard it: on average it takes anywhere from 3 to 10 contacts before a sale is reached. Although sales and publicity are very different animals, the same rule of thumb applies when pitching your release or story idea to the […]

When starting a successful business venture or launching a new product, most entrepreneurs or business owners conduct some type of marketing research to determine the extent of their prospective customer base. And when getting the word out to that customer base, many entrepreneurs may turn to the media to help generate a buzz for them. […]

There’s no denying that the Internet is allowing more and more entrepreneurs to start their own businesses and effectively market their new products- e.g. as evidenced by the recent growth in businesses on eBay. However, there seems to be an increasingly common misconception when these businesses try to generate media attention and publicity for their […]