Peerfear.org

Fear for no peers!

Why Your Marketing Plan Is Important To Your Business

A good marketing plan is important to any business. Here's why.

You hear the term "Marketing Plan" thrown around but it's sad how many businesses don't know what it means to have one. Perhaps the most vital aspect of any business is the marketing plan. A business cannot really get off the ground until they sell something. And that is what marketing is all about. If marketing is how sales are made, then a marketing plan is about figuring out how sales will be made. Developing a good plan is a way to overcome your shortcomings and increase your business's income. No plan equals to no sales. Which in turn means your business is not going to make it. This is why a solid marketing plan is a MUST. A marketing plan prepares your business to be proactive in what the market does. Without one, you end up reacting to changes and to competition, which means you are always a step behind those who are already prepared. So, then, a marketing plan is crucial to being ready to deal with the ebbs and flows of the market. It's always better to anticipate and plan for a market change well ahead of time rather than find out about it later on. You need to be in the leading edge and not the following edge. At the beginning of the process of forming a plan for your marketing, you should make sure you have answers to basic marketing questions like: Who are your customers? Know your competition. For you can be sure that they know you. And how do you put your product or service into the hands of your customers? What's the most effective method to do so? In addition to several others that address where you are as company and where you are going. You need to know where you are before you can figure out where you want to be. Once you have those questions answered, your marketing plan will essentially write itself. You will form ideas about where you want to go, and you will know how you want to react to changes and challenges from the marketplace. A well planned plan means nothing though if it's not well executed. Make sure that once you make a plan you put it motion by delegating it to the right people. Overall, if you have a good marketing plan in place you will have a business that is in control of itself. When you're in control, yu cans steer it towards profits. You will be able to stick to certain sales strategies and have an idea what kind of results you want to see. Measurable mile stones will let you know if you are on track. All advertising efforts are targeted at a specific goal, and overall you will know what success looks like to you and your associates. A good plan with tell you exactly what to expect to see and when to see those results. This is an indicator of how successful your plan is. A well placed and established marketing plan will help your business, big or small, to unite in a common effort and will promote teamwork. Ultimately you, as a whole, will see your business grow.

Author:Khemal Dole Category:Corporate Published:14-Oct-2005 Tags: marketing plan