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What is a marketing plan, and how do I develop one?

Last Updated: November 10, 2010

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Simply put, your marketing plan clearly lays out your strategy to sell your venture to both your customers and your potential investors and bankers. Getting this plan prepared will involve substantial research into the industry you wish to market in as well as a complete understanding of consumer motivations. Your marketing plan is a complete description of how you will get your product or service to market, build a market niche, maintain growth, and deal with future market change. Portions of the plan become templates and schedules for specific activities such as festival markets, newsletter mailings, advertising copy, and other specific operations to promote your business.

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