What are the Benefits of a Marketing Plan?

By Lanee' Blunt

A marketing plan is a plan that helps you define your market. Many small businesses operate their businesses without giving much thought to preparing a marketing plan. Sometimes they luck up and do things right, but most times they don’t know what worked and what didn’t work. A marketing plan will put in place a strategy for attracting more customers and it helps to anticipates changes.

A benefit to having a marketing plan is that it helps you understand your target market, what you propose to do to reach that market, and how you plan to differentiate yourself from your competition.

It puts in place an outline of the cost of how you are going to achieve your marketing goals within a certain timeframe. Each activity in the marketing plan is based on solid research and specific goals. It serves as a road map to help you achieve those goals. When you are working from your marketing plan it doesn’t mean that you can’t change things and that it’s set in stone. Consider the tactics that worked well and the ones that didn’t work at all. For example, an ad you put in the paper gave high results, opposed to one you put in a directory that didn’t pull a high response.

SBA: Developing a Marketing Plan


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