Business plan template.pdf

In one short paragraph define your niche your unique

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In one short paragraph, define your niche, your unique corner of the market. Marketing Strategy Now outline a marketing strategy that is consistent with your niche. Promotion : How do you get the word out to customers? Advertising : What media do you use, why, and how often? Has your advertising been effective? How can you tell? Do you use other methods, such as trade shows, catalogs, dealer incentives, word of mouth, and network of friends or professionals? If you have identifiable repeat customers, do you have a systematic contact plan? Why this mix and not some other? Promotional Budget How much will you spend on the items listed above? Should you consider spending less on some promotional activities and more on others? Pricing What is your pricing strategy? For most small businesses, having the lowest prices is not a good strategy. Usually you will do better to have average prices and compete on quality and service. Does your pricing strategy fit with what was revealed in your competitive analysis? Compare your prices with those of your competition. Are they higher, lower, the same? Why? How important is price as a competitive factor?
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Page 13 of 29 What are your payment and customer credit policies? Location You will describe your physical location in the Operational Plan section of your business plan. Here in the Marketing Plan section, analyze your location as it affects your customers. If customers come to your place of business: Is it convenient? Parking? Interior spaces? Not out of the way? Is it consistent with your image? Is it what customers want and expect? Where is the competition located? Is it better for you to be near them (like car dealers or fast-food restaurants) or distant (like convenience food stores)? Distribution Channels How do you sell your products or services? Retail Direct (mail order, World Wide Web, catalog) Wholesale Your own sales force Agents Independent reps Has your marketing strategy proven effective? Do you need to make any changes or additions to current strategies? Sales Forecast Now that you have described your products, services, customers, markets, and marketing plans in detail, it is time to attach some numbers to your plan. Use a forecast spreadsheet to prepare a month-by-month projection. Base the forecast on your
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Page 14 of 29 historical sales, the marketing strategies that you have just described, your market research, and industry data, if available. You may want to do two forecasts: 1) a "best guess," which is what you really expect, and 2) a "worst case" low estimate that you are confident you can reach no matter what happens. Remember to keep notes on your research and your assumptions as you build this sales forecast and all subsequent spreadsheets in the plan. Relate the forecast to your sales history, explaining the major differences between past and projected sales. This is critical if you are going to present it to funding sources.
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Page 15 of 29 Operational Plan
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