SBA Business Plan Template
Marketing is the process of creating customers, and customers are the lifeblood of your business.
In this section, the first thing you want to do is define your marketing strategy. There is no single
way to approach a marketing strategy; your strategy should be part of an ongoing self-evaluation
process and unique to your company. However, there are steps you can follow which will help
you think through the strategy you would like to use.
An Overall Marketing Strategy would include a:
Market penetration strategy
Strategy for growing your business. This growth strategy might include: an internal
strategy such as how to increase your human resources, an acquisition strategy such as
buying another business, a franchise strategy for branching out, a horizontal strategy
where you would provide the same type of products to different users, or a vertical
strategy where you would continue providing the same products but would offer them at
different levels of the distribution chain.
Channels of distribution strategy. Choices for distribution channels could include: original
equipment manufacturers (OEMs), an internal sales force, distributors, or retailers.
Communication strategy. How are you going to reach your customers? Usually some
combination of the following works the best: promotions, advertising, public relations,
personal selling, and printed materials such as brochures, catalogs, flyers, etc.
Once you have defined your marketing strategy, you can then define your sales strategy.
How do you plan to actually sell your product?
Your Overall Sales Strategy should include:
A sales force strategy. If you are going to have a sales force, do you plan to use internal
or independent representatives? How many salespeople will you recruit for your sales
force? What type of recruitment strategies will you use? How will you train your sales
force? What about compensation for your sales force?
Your sales activities. When you are defining your sales strategy, it is important that you
break it down into activities. For instance, you need to identify your prospects. Once you
have made a list of your prospects, you need to prioritize it. Next, identify the number of
sales calls you will make over a certain period of time. From there, you need to determine
the average number of sales calls you will need to make per sale, the average dollar size
per sale, and the average dollar size per vendor.
Part 6: Service or Product Line
What are you selling? In this section, describe your service or product, emphasizing the benefits
to potential and current customers. For example, don't tell your readers which 89 foods you carry
in your "Gourmet to Go" shop. Tell them why busy, two-career couples will prefer shopping in a
service-oriented store that records clients' food preferences and caters even the smallest parties
on short notice.
Focus on the areas where you have a distinct advantage. Identify the problem in your target
market for which your service or product provides a solution.
Give the reader hard evidence that people are, or will be, willing to pay for your solution. List your
company's services and products and attach any marketing/promotional materials. Provide
details regarding suppliers, availability of products/services, and service or product costs. Also
include information addressing new services or products which will soon be added to the
company's line.
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