Archive for January, 2013
The owner and founder of Umbrella Management Group, LLC, Justin Ayars has experience in both law and business, and he currently advises a wide range of companies on issues of management, planning, design, organization, public relations, and marketing. Justin Ayars also owns several small businesses and has worked to build them into successful enterprises. Here, Mr. Ayars lays out the basics of a marketing plan for any business.
Each year, companies interested in improving their business through better marketing should construct a marketing plan. This plan may be short or it may have many hundreds of pages, depending on the size of the company and the complexity of its needs, but the plan should cover a year in marketing with further space for documenting monthly progress and reports.
A marketing plan should draw information from every sphere of the company, including finance, manufacturing, human resources, sales, and so on. Every facet of an enterprise should participate in the process of marketing the company and its product to consumers, and every player should feel invested in the success of the plan as it comes to fruition.
A great marketing plan sets out the market situation for the venture, including the products that are offered, the size of the market, geographic considerations, and the key target demographic for the product. It should then move on to addressing the threats in the market, including any areas where the company may lose its sector of the market due to trends running against the product or new successful players in the field. Finally, a marketing plan should highlight opportunities and places where the organization can do a better job appealing to customers from many areas. This can include upcoming promotional ventures, new slogans, new products, or changes in the organization of the company that can increase sales and profits.