by Teresa Brouwer

Created on: August 21, 2008

When writing a marketing plan, a business owner must know the difference between advertising and marketing. Advertising is a component of the marketing process, and with a solid market plan, a future business owner will have an effective advertising campaign.

Advertising is getting the word out and a way to attract attention. It's an announcement and message through flyers, business cards, and classified ads.

Marketing is the planning of the advertising and business goals. A lot of entrepeneurs failed due to lack of planning. A solid well-written plan will allow a person to be a successful business owner.

When designing a marketing plan, there are several components to consider; mission statement, purpose of mission, budget, and a description of services. However, the best component of all is listing personal and business goals.

Having goals is a stepping stone towards a successful future. It allows a person to have a direction, a path, and a check list of what needs to be done next. A goal list opens up the world of possibilities: there are no limits to having goals.

The best way to design an organized marketing plan is to look over many areas that include products, customers, and advertising.

One would consider these topics and questions:

Product

1. What is your product?
2. Why is it needed?
3. How can you upgrade your product?

Customers

1. Who are your potential customers?
2. How will they find you?
3. How will you keep them coming for more?

Advertising

1. How will you advertise?
2. What outlets would you use?
3. What is your budget?

Market

1. Research for free publicity.
2. What choice of media will you use?
3. Consider sponsoring teams, events, and non-profit organizations.

Overlooking analysis in many areas is important that may include:

Economic Analysis - Growth trends, legal issues, product being seasonal, and strength and weaknesses.

Financial Analysis - Start up cost, one-year budget, overhead, salary, taxes, rent, advertising fees, and shipping cost if needed.

Market Analysis - Marketing strengths, what can you do different, what helped you and didn't help you.

There is no standard format in writing a marketing plan: typed or handwritten works well. For organizational skills, a three-ring-binder and dividers work even better. Having clear thoughts, goals, and organizational skills will allow the entrepeneur to become successful.

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