A winning marketing plan covers all the bases when it comes to meeting your company’s sales goals. If you complete a situation analysis and implement the marketing mix, you will have a basic marketing plan for your small business.

Conduct a Situation Analysis or SWOT:

• Strengths - What does your company do well?
• Weaknesses - What could your company improve upon or do better?
• Opportunities - What potential prospects and target markets are available now or will be emerging? What differential advantage does your company have?
• Threats - Who are your competitors? What factors in the business environment could pose problems, either now or in the future?

The Marketing Mix a.k.a. The Four P’s of Marketing:

• Product - the item or service you are selling, product development.
• Price - the rate at which your item or service sells, conduct market research to determine your strategic price point.
• Place - distribution of your item or service, the when and where.
• Promotion - includes advertising, public relations, personal selling, and sales promotion; craft a promotional plan that reaches your target market, then track and evaluate the results to see what works.

and a Fifth P - what is your Position in the market?

How Do You Have Successful Marketing?


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