Marketing Basics
Let's say you have a great product, and you're ready to fill orders. You might be missing a crucial business aspect: marketing, or telling people why they need your great product in the first place. This section explores the basics of marketing so you can build a customer base.
Developing a Marketing Plan
Marketing takes time, money, and lots of preparation. One of the best ways to prepare yourself is to develop a solid marketing plan. A strong marketing plan will ensure you're not only sticking to your schedule, but that you're spending your marketing funds wisely and appropriately.
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What can a marketing plan do for your small business?
The marketing plan will help you understand who your target market is and what competitive position you have in that market. The marketing plan will allow you to analyze how you intend to reach your target market and differentiate your business from your competition in order to be competitive.
Your small business marketing budget should be a component of your marketing plan. Essentially, it will outline the costs of how you are going to achieve your marketing goals within a certain timeframe. If you don't have the funds to hire a marketing firm or even staff a position in-house, there are resources available to guide you through the process of writing a marketing plan and developing a marketing budget. For more information, see Developing a Marketing Plan. |
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