How to Write a Basic Marketing Plan
A marketing plan is a framework for how you get the word out about your business. If you're already established, the plan outlines your target consumer and the means you use to increase lagging sales or to promote a new line of product. A marketing plan need not be complex. Simply establish who you're trying to target and the best way to reach them. What you've written in a few pages can, upon execution, translate into measurable profit.
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Instructions
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Research your market. Find out who is most likely to buy your product and how you can get your message out to them. Think in terms of age, lifestyle, income and place of residence. Consult studies on consumer behavior that link these criteria to specific purchases. If you sell used textbooks, for instance, your primary consumer will be a college student with a limited income. If your shop is online, determine how many college students look for used textbooks online through the use of an online survey. If your shop is a brick-and-mortar location near a college, determine whether you are located in an area of high foot traffic.
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Establish your goals and objectives. This is the bottom-line aspect of your marketing plan. Your objective may be to increase traffic to your shop or website with the goal of increasing gross revenues by 15 percent. Even if your marketing brings people to your shop, if that increased visibility has not resulted in an increase in sales, your marketing plan needs to be revised.
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Do a "SWOT" analysis. SWOT is an acronym that stands for strengths, weaknesses, opportunities and threats. Your marketing plan should build on the opportunities that result from your business' strengths and mitigate the threats that arise from your business' weaknesses. If your shop offers used books at a significantly cheaper price than the suggested retail, you have the opportunity to increase sales volume by taking business away from the campus bookstore. However, if your title selection is missing several important publications, students may have to visit the campus bookstore anyway and may choose to purchase everything there in order to save time.
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Develop marketing strategies. A marketing strategy to increase traffic at your store will include getting the word out that your shop is online or that it is just a short walk from campus. Another strategy might include sale prices during slower periods or a selection of new textbooks in addition to used, so students are able to do the entirety of their shopping at your location.
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Develop marketing tactics. A marketing tactic is how you spread the word about your strategy. Keep in mind your message and who you want to receive it. If you're trying to reach students, advertise your location, sale or new stock where students will see it. Online ads on websites targeted to your campus community with links to your shop's website is one option. Posters on busy billboards or street signs that direct foot traffic to your shop are other options.
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