Marketing and Sales Strategy of a Business Plan

This section of your business plan should describe the specific activities you intend to use to promote and sell your product or service. A strong sales and marketing section demonstrates you have a clear idea of how you will get your product or service to market and should answer the following questions for the reader:

• Who are your customers? Do some research and include details of customers who have shown an interest in your product or service. Describe how you are going to promote yourself to potential customers to let them know your business exist.
• How are you going to reach your customers? You should know your customers and the best method by which to reach them. Research will help you identify the most effective way to reach your selected audience, whether it is through the Internet, over the telephone or by in-person contact.

Who is your competition? Once you understand who your competition is, you need to research their strengths and weaknesses, and use this information to assess potential opportunities and threats to your business.

• How are you going to position your product or service? Describe what makes your product or service unique to the market you are trying to break into.
• How are you going to price your product or service? Outline your pricing strategy, including incentives, bulk pricing, loyalty incentives and/or group sales.

To learn more about effective marketing and promotion techniques, see these documents:

• Marketing basics

Brush up on key marketing concepts, learn how to develop a marketing plan, and assess strategic marketing options for your company.

• Promoting and advertising your business

Learn how to use advertising and other promotional techniques effectively.

Your Team

This section addresses the people working in your business and how you plan to manage your business. Include:

• a brief organizational layout or chart of the business;
• biographies of the managers (including yourself)
• who does what, with a brief job description of each position
• the needed skills of each position
• any other relevant information related to personnel

Don’t underestimate the importance of this part of your plan. Investors need to know that you and your staff have the necessary balance of skills, drive and experience to enable your business to succeed. It is also advisable to outline any recruitment or training plans, including time scales and costs.

Operations

This section of your business plan should outline your operational requirements, including your day-to-day requirements, facility requirements, management information systems and information technology requirements, and any planned improvements.

Things to include:

• Day-to-day operations – provide a general description of the day-to-day operations of the business, such as hours of operation, days open, seasonality of business, suppliers and their credit terms, and so on.
• Facility requirements – identify your requirements in terms of size and location. Include any related documents in the appendix of your business plan, such as lease agreements or supplier quotations. Detail any special requirements associated with the facility and include any licensing documentation in your appendix.
• Management information systems – indicate how you plan to control stock, manage accounts, control quality and track your customers.
• Information technology (IT) requirements – identify the IT systems you will be using for your business. As this is a key factor for most businesses, indicate if you are using a consultant or IT support service and outline any planned IT developments.

• Management and Operations
• E-Business
• Programs and resources to help you do business over the Internet.

Date: 2015-12-11; view: 902