Business plan
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This business plan outlines a company, its product and service offerings, the relevant industry, target market analysis, and competitive advantages. The plan describes the firm, proposed products and services, trends in the industry, research on customers and competitors in the target market, and how the business holds an edge over others in the sector. Sources are cited to provide background information for the various sections.
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MKT/574 v1
Strategic Marketing Plan
MKT/574 v1
Page 2 of 2
Strategic Marketing PlanPart A: Environmental Analysis and SWOT Analysis
(Due in Wk 2)
Company Description
Describe the company you are designing the plan for. Include:
· Mission Statement
· Vision Statement
· Product line description
· Company information, such as the size of the company
Environmental Analysis
Analyze the forces that affect the company and marketing efforts. Competitive Forces
Analyze the company’s key competitors. You may choose to use a BCG Matrix or attribute checklist to compare your company against its competitors. Describe any strategic moves the competition has recently made. Estimate your market share. Identify key competitive advantages against your competitors.Economic Forces
Analyze the economic environment in the areas affecting your business. Consider differences within your industry and the economic impact on suppliers.Political Forces
Analyze relevant political forces. Examples may include an election year or a law to drastically reduce or eliminate plastic waste in your county.Legal, Regulatory, and Ethical Issues
Analyze the legal, regulatory, and ethical issues that may affect your business. Considerations may include local laws such as a ban on the use of plastic bags, the ability to post billboards, or a possible increased regulation on direct mail.Technological Forces
Analyze whether your company will be affected by emerging technologies or trends in hardware and software industriesSocial Forces
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Current Target Markets
Define the company’s current target markets. Describe the demographic, geographic, psychographic, and product usage of these targets.
Review Current Marketing
Review the company’s current marketing tactics. Consider how people find out about the product, how they get information about the product or service, what might be involved in the buying process, and what money is available for marketing. If your company is a start-up, describe your competitors’ current marketing.
SWOT Analysis
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The document outlines the typical sections included in a business plan, including an executive summary, business concept, market analysis, operations plan, management team, and financial plan. It provides guidance on what to include in each section, such as describing the industry, market opportunity, business model, marketing strategy, and three-year financial projections in the respective sections. An appendix may include supporting documents and materials. The executive summary should highlight the business overview, financials, capital needs, and achievements to entice readers to review the full plan.
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Awah Favour Business Plan.pptx
This is a short overview of the entire business plan
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Shouldn’t exceed two single-spaced pages.
_business plan template(1).pdf
BUSINESS PLAN
Creating an extensive business plan is unnecessary for most businesses to get started. Keep it short when
you are getting started. You don’t have time to write a 50-page document and no one wants to read it
either. However, the exercise of creating a business plan offers you several benefits that more than
outweigh the investment of time:
• The process of thinking and writing the plan provides clarity to your business • If capital is needed from beyond your savings, investors want to see a plan that demonstrates a solid
understanding and vision for your business • The plan will help you to prioritize the tasks that are most important • With growth, the plan offers a common understanding of the vision to new leaders • It is something you should continually review and update over time
A simple business plan for a product or service company that is just forming, can be completed rather
quickly. Write it simply keeping in mind who the audience might be. It needs to be understandable,
readable, and realistic.
This template is organized into seven sub-plans or sections to be completed. It is recommended to
complete the Executive Summary last once the other sections have been completed. As you move from
the Company Overview to the Financial Plan, the writing should tell the story of your motivation, your
vision, why you will be successful, how you will achieve success, and how you will measure it.
It will be important to keep your plan up to date so you can see your progress, celebrate success, and
adjust where you missed the mark. This is best done on a quarterly, if not monthly basis
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Greetings.
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[To download this presentation, visit:
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