What is a Marketing Plan?
In a business plan a marketing plan communicates how you intend to reach your customers. In school this was referred to as "The 4 P's"- Product, Price, Placement and Promotion. The bottom line is what are you offering (a service or a product), how do you plan on gaining recognition by potential customers, what is your pricing strategy (low price vs. high quality), and who is your target market. Do you have a niche market? This area offers room for creativity within practical limits.
Below is a list of sections you may want to include in your Marketing plan; note that it is essentially the Four "P's":
- Product Feasability and Strategy
- Pricing Strategy
- Channels of Distribution (also referred to as Product Placement)
- Promotions & Advertising
To succeed in your business venture you need to know who you're competing with and who you are focusing on.
Markeing Plan Example
Product Feasibility and StrategySolar panel installation companies have already been proven in the market. Many companies have found success in the country particularly in California and the Northwest. There are a few companies in the same vicinity as SI Co that offer solar panel installation. Among them is G2 Power Technologies LLC based in St. Louis Mo. The company offers a variety of solar options. G2’s services include consulting, analysis, advice, and installation for residential as well as commercial properties (http://www.g2power.com). Solar Night Industries, Inc. is based in St. Louis Mo. as well.
The company provides residential and commercial energy plans to customers through its website (http://www.solarnightidustries.com). MidAmerica Solar, also in St. Louis, offers solar panels and installation. They do not warehouse any equipment and as a result they require a four to six week lead-time before filling an order or starting a job (http://www.midamericasolar.com).
SI Co will enter the market by providing bid analysis and installations in the residential market and small commercial market. SI Co will be the only solar panel installation company in the Madison County, Illinois area. It will specialize in solar photovoltaic panels used to convert solar power to electricity. SI Co will provide the photovoltaic solar panels and install them on residential homes in... Continue reading this Marketing Plan example.
Or visit Business Plan Examples for additional examples and information on other sections of a business plan.