How do you make a good marketing plan? What are the strategies or you need to make marketing plan a successful one? Making a successful plans need focus, concrete, specific and flexibility. It can be determine by the decisions that follow, the business generates and how it is implemented. A good marketing plan that is not executed is worth much than an average marketing plan that is carried out. The plan’s worth is in the accomplishment of the business. In this broad framework, successful marketing plans have numerous key essentials. Let’s use restaurant business as an example, this is the familiar to us.
Set a Market focus – a good marketing plans mark markets narrowly. A restaurant’s mark market might be families, couples, teenagers, date nights, busy and rushed working people. Decide, divide and then conquer.
Focus on product – focus on product also matches market focus. If you want couples date nights, then serve good food. If you like families, then serve food quickly, make the menu items cheap, delicious and the food has to be safe.
Concrete and Specific – a good marketing plan has dates and details. The plan has to tie outcome back to activities and result with hard numbers to assess those results as much as possible.
Fundamental of Simple Business Investment
One of the most important question for a small or let’s says simple or starting business investor is where to focus attention. And what makes your company more interesting than another? There are millions of businesses, but only few researches for services. This give great opportunities for an above-market returns but this also means investors must move toward for determining which companies are importance focusing on. After several years of investing like in private companies, you must develop an initial framework. Maybe you heard about the billion dollar sales machine theory.
This list is not planned to be comprehensive; it’s proposed only to serve as a starting point for the new beginners in business. Evaluation and deal structure, for example, are critical. The philosophy in this list can apply to many industries, but they are especially applicable to consumer and in retail businesses. Gross Margin – this is the percentage which is the difference between what a product sells for in the market called revenue and then how much it cost to produce the product which is the COGS (cost of gold’s sold).
Brand Strength – frequently the toughest thing to assess in a company, but you need to ask yourself, “What does this brand offer?” Many strategies but not all will be very useful to business minded like you.