2) Is there a demand for your product
or service?
Is the projected current demand large enough
to justify the costs of research, development, design, packaging, marketing
and delivery of your product or service?
You must calculate the projected demand
against start up, manufacturing, labor and all other costs it will take
to get your product or service to your potential customers.
Is the customer base large enough to support
the investment of time and money?
Is there room to expand?
Is there back end sales potential?
Do you project that your target market
will grow, diminish or remain stable?
3) How can you out do your competitor?
Is your product or service of better quality?
Better price?
Better service?
What`s your angle?
If you have competition (which you will
98% of the time), how will your product or service be better?
How aggressive will your competitors be?
Will they counter their prices to better
their service or product appeal, to beat out yours?
Can you afford to provide your product
or service at a lower rate and still keep a substantial profit margin?
4) What is your overall strategy?
Will you be targeting one product or service?
Will you be targeting a general market
or will you require targeting distinct groups of people?
Where will you find these people?
When considering media, what percentage
of the audience fits your target consumer?
5) How are you employing your tactics?
Have you planned the tactic you will use
to accomplish your strategy?
What are those special offers that will
distinguish you above your competitor?
What special services can you provide that
they cannot?
How will you keep tabs on your competition
and their sales rates?
How will you collect your fees? Checks
or Credit Cards? Online and Offline Solutions?
How will you test your product/service
against your selected market?
6) How do you plan to stay on top of
things?
How will you track your advertising and
promotion?
Which promotions and media are drawing
the best results?
Which is the most profitable?
How can you analyze the demographics to
better target your future marketing strategies?
What networking plans have you made?
Who do you need to network with and why?
How will you find and contact them?
How will you monitor your (broken down)
costs versus your profits?
How will you plan your budget?
7) What are your future plans?
What is your projected duration for targeted
marketing of specific products or services?
How will you know when to target new or
different
products/services?
What products and/or services are you planning
to add?
How can you ensure a safe recovery from
failed promotions?
How will you know when it`s time for your
business to grow?
How will you delegate authority and who
will delegate authority in your absence?
WHAT WILL YOU DO WITH YOUR SUCCESS?
Some of these questions may be difficult
for you to answer yet, but each should be answered to build that Successful
Marketing Plan you need. Relax, you aren`t expected to answer these questions
as you read them. If I may suggest,
save these questions, use them as a worksheet.
Answer the questions as the solutions make themselves known. Thanks to
the simple text editor, nothing here is carved in stone. You
can always change and update the answers
as new ideas and information becomes available.
Follow a plan and plan to Lead!
Thanks for reading!
"Wild Bill"
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