A marketing plan should clearly identify several things about your business: where you are; where you want to be; and how you intend to get there.

The Four Ps

You should include all these in your marketing plan:

1) Product
2) Pricing
3) Placing
4) Promotion

Product & Pricing

The most important part of this is research. To make sure your marketing plan is up to scratch, make sure it is detailed. You also need to think about if your business is going to operate in a specific locality, will the market support it? For example, if you plan to open a restaurant, you need to know about how many already exist in your chosen area, the services they supply, if the area will support another restaurant business, and what would be considered competitive pricing.

If you are already an established small business, and you are interested in introducing new products or expanding into another market you need to consider if there is a niche for your product and how you intend to sell your product eg, directly, mail order, through an agency etc. While also considering how you will distribute your product or service.

Position

This is about creating an identity for your small business. You want your firm to be distinctive so that it stands out, you need to have an instantly recognisable brand identity in order to build a platform from which you can then launch your product.

Your business name is also important. It needs to be original, punchy and reflect the value of the products you’re selling. Make sure you also avoid common names that others have already used.

Before you have settled on a name, you should get in touch with Companies House, or check the business section of your local library to make sure your company’s potential name is not already in use.

Your brands identity can easily be made by a good local designer to help come up with letterheads, business cards, packaging etc. You may think you can do the design yourself, but professional designers can create a unique identity for your business.

Promotion

This is the first and most important step when it comes to marketing and promoting your company.

There are four recommended questions you should ask yourself in order to define your target audience:

a) What kind of people will buy your product?
b) What similarities do your best customers share?
c) Can all customers be communicated with in the same way?
d) Do your customers fall into different groups?
e) Are there different buying circumstances (eg planned, impulse, special occasion etc)?

These questions will help you realise who your customers are, it is only then you can decide on the most effective method of contacting them. There are three general methods of contact: media advertising (above-the-line) eg television, radio etc; non-media communication (below-the-line) eg sales literature, sponsorship etc; and public relations eg activities that attempt to create a positive attitude towards your company.

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