Small or big companies need a budget projection in introducing their product or service to the market, with an expectation to achieve their target revenue. But promoting your products through TV commercials, Billboards, Brochures and Websites is not enough to get the attention of your target market. To get actual figures and statistics on a business plan, here are the things that you need to consider;
1. Set your goals and objectives
You can’t create a successful marketing plan for your business if you don’t know what your objectives are, you need to identify what you want to achieve for the next 12 months; Sales increase, improved profitability and popularity, these are just some of the main goals and objectives when creating your marketing plan.
2. Know your target market
Your target markets are the people who will purchase your products, they are also known as the consumers. Developing the products that they want and need is essential in order to attract or retain them as regular customers. It is also important to get their feedbacks, to help you improve the product that you are selling.
3. Clarify you core message
You need to be very specific with your core message or slogan, it has to be convincing so you could get your customers attention. In creating a successful marketing plan, you need to clarify what are the things that you offer, what makes you better from your competitors and what are the benefits that they could get if they will purchase your products, are they going to get more than what they pay or is your product readily available in their areas.
4. Pick the right marketing tool
What tools will you use to communicate your core message to your target market, in order to achieve the desired business objective/s. The marketing tools are a valuable last step as they drive the action and implementation side of the marketing plan. Whether you choose to use market research, public relations, advertising, sponsorship, direct marketing, sales promotion, personal selling, exhibitions, corporate promotional gift items or the internet to communicate your message to your target market, select the one where you control the message in its entirety and where the cost per person reached is the best option available. Aside from these marketing tools, there are also other media that can help you promote your products, through product brokers.
5. Determine your marketing budget
So if you have everything all set up, you are now ready to promote your product to your target market. You just need to set a budget for all the marketing promotion that needs to be done such as; through TV commercials, Billboards, Brochures and Websites.