Marketing 101: Developing a Marketing Plan for Your Business

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Part of the foundation of any successful business is a marketing plan. Marketing plans can help a business owner define goals and develop activities to achieve them. The core marketing plan should be clear, concise, and state the key strategies for your business. Our Rasmussen College subject matter expert, Soma Jurgensen, walks you through each step of the process for building a solid marketing plan.

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Marketing 101: Developing a Marketing Plan for Your Business

  1. 1. Marketing 101 Developing A Marketing Plan For Your Business
  2. 2. What should be in your project? AGENDA • Description of features • Description of benefits • Customer profile • Competitive advantage
  3. 3. BOTTOM LINE • What are you selling? • Why should people care? • Who is “the one” customer?
  4. 4. • Describe in detail your product or service • Describe product or service features • Explain the core benefits • Identify your “one” customer • Clarify your point of differentiation • Write it up like a plan WHAT SHOULD BE IN YOUR PROJECT?
  5. 5. • Service features – What do you do? – For whom? – When do you offer your services? – How often? – How does someone order your service? – Where are you located? DESCRIBE YOUR SERVICE
  6. 6. Product Features DESCRIBE YOUR PRODUCT
  7. 7. BENEFITS
  8. 8. • “The One” you will talk to consistently – Facts (live, income, gender) – Preferences (read, eat, watch, do) • How does he/she behave? – Fit in? – Get ahead? – Value family? – Impulse? – Life change? WHO’S YOUR CUSTOMER?
  9. 9. CUSTOMER PROFILE
  10. 10. “Reason someone would buy your product over the competitor’s on a regular basis.” Combination of your features, benefits, profile knowledge, and BRAND COMPETITIVE ADVANTAGE
  11. 11. COMPETITIVE ADVANTAGE • Choose one or two close competitors • What product or service do they have that’s similar? • How would you convince a consumer to purchase your product/service over theirs?
  12. 12. STRUCTURE • Start with an introduction • Focus each paragraph on one idea at a time • Transition between paragraphs • End with a conclusion Proofread your work and have someone else proofread it too!
  13. 13. QUESTIONS?

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