A marketing plan is a necessary step for any company, especially minority-owned, that is committed to its own success. It provides business direction so that you know where to go and what decisions to make. In times of crisis or deadlines, a plan serves as a way to stay on course.
Writing a marketing plan is not as hard as it seems. First create an outline. Then, gather information about your industry, customers, and competition. Develop a marketing strategy and tactical plan that makes you unique from the competition. Commit these ideas to paper. Once you've completed your marketing plan, continue to review and revise it, keeping marketing programs that work and discarding those that don't work.
How to stay on top of what's happening in your industry.
Learn about the 80/20 Rule and how to use it to create a target customer profile.
How to conduct research on your competition and develop a Competitive Matrix and SWOT Analysis to successfully position your business in the marketplace.
Understand the value of positioning statements and how to use features and benefits to improve your marketing.
Differences between goals and objectives, and how to craft SMART ones.
Common pricing strategies used by successful small and minority-owned businesses.
Instructions for determining your marketing budget and a worksheet to calculate marketing expenses.
Basic outline to get you started on writing a marketing plan for your business.
SBA sponsored site with examples of marketing plans and templates that you can use as a guide to create your own.
