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Marketing

Marketing-img.jpg

Marketing – “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” (American Marketing Association)

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Since marketing covers a significant area of business, we have highlighted below critical items/steps to cover:

  • Key Activities
    Describe the ways and reasons your business will have a competitive advantage.
  • Key Resources
    List all resources you will leverage to create value for your customer.
  • Value Proposition
    State the value your company brings to the market.
  • Customer Relationships
    Describe how your customers will interact with the business: online, in person?
  • Customer Segments
    Describe who is your target audience.
  • Channels
    Describe the ways you will use to communicate with your customers. Most businesses use a mix of channels.
  • Cost Structure
    Define whether your company will focus on reducing costs or maximizing value. State your strategy and the highest prices to achieve it.
  • Revenue Streams
    Describe the strategy to generate revenue- for instance: direct sales, membership fees, subscriptions, etc.
  • Small Business Administration template (lean business plan template)
    This example business plan is provided by the Small Business Administration.
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