Jerry Smith Beads -- The Marketing Plan

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Monday, May 12, 2008

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- The Marketing Plan

There are hundred of thousands of websites that want you to pay so that they can teach you how to write a marketing plan. It is easy to create a plan in your head, but you need to write it down. Let me go over the parts of a market plan for you as simple as possible.

A: Situation Breakdown
An overview of your situation as it exists today, can be a useful benchmark as you refine your plan.

What are you doing to reach your target market right now?
How many orders per week can you work effectively handle?
Do you have the inventory or way to increase your inventory if your sales increase?

B: Target Market
You are marketing to consumers; write a target-audience profile based on demographics, including age, gender and any other important characteristics

Gender: Most likely Female
Age: Are you going for the Tween and Teen Market? If this is your target market. Are you selling directly to them or through their parents?
Other Demographics Do they live close to you? Where do they hang out? What level of disposable income do they have?

C: Set Goals
List your marketing goals for the coming year. The key is to make your goals realistic and measurable. An example is increasing your sales by 10% by the end of the year.

D: Strategies and Tactics
Your tactics section should include all the steps you plan to take for advertising, public relations, direct mail, email campaigns and special promotions. You can use a paper calendar to schedule your goals or use a contact manager or spreadsheet program --what matters most is that you stick to your schedule and follow through.

E: Budget Analysis
The final section of your plan includes a brief list of costs associated with each of your ideas. If you plan to exhibit at three craft shows per year, for example, you will include the costs to participate in the shows, booth preparation, marketing materials, travel, meals, etc. If you find the tactics you have selected are too costly, you can go back and make revisions before you arrive at a final budget.

F: Review Your Plan
Do not write you plan and put it in a desk draw. Keep it in front of you and update it from time to time. This is a guide to help you reach your goals.

A plan is only useful when it is placed into action.

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