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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)

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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