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Why You Should Include Digital Marketing in Your Business Plan?

Digital Marketing

A standard business plan includes three parts of the sales and marketing section. Those are the Market Analysis, the Marketing Plan, and the Sales Plan.

The Marketing Strategy section of the business plan describes who the customers are and how you will get word to them about the goods and services you offer. If the consumers don’t know about the business, you can’t stay in business very long. A marketing plan breaks down who you’re selling to, and it also explains the competitive analysis of your business.

You should include a marketing strategy in your business plan to show that you know your target market and understand how to make sure those customers know where they can find you. Again, define what you’re selling, at what price(s), from where and how you’re going to spread the word. Use the four Ps of marketing as your guide: Product, Price, Place, and Promotion.

Defining how your business is different from other competitors is a key component of your marketing strategy. This section has to be specific and not generic. It is imperative for a small business to know what sets them apart from competitors.

The marketing strategy part of your business plan should include the market segmentation, competitive analysis and all other selling strategies. This section should include charts and graphs, ads, brochures or other marketing materials.

Sources:
https://www.entrepreneur.com/article/241075
https://www.thebalancesmb.com/the-marketing-strategy-of-your-retail-business-plan-2890048

 

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