Georgia CPA Helps with Business Marketing Plans
The marketing plan is a key component of a business plan. This page describes marketing considerations when you are planning your business.
Additional material found in business plans can be found by following the links below:
The Marketing Plan
Marketing plays a most vital role in successful business ventures. How well you market you business, along with a few other considerations, will ultimately determine your degree of success or failure.
The key element of a successful marketing plan is to know your customers--their likes, dislikes, expectations. By identifying these factors, you can develop a marketing strategy that will allow you to arouse and fulfill their needs.
Your marketing plan should be included in your business plan and contain answers to the questions outlined below:
- Who are your customers? Define your target market(s).
- Are your markets growing? steady? declining?
- Is your market share growing? steady? declining?
- If a franchise, how is your market segmented?
- Are your markets large enough to expand?
- How will you attract, hold, increase your market share? If a franchise, will the franchiser provide assistance in this area? Based on the franchiser's strategy? how will you promote your sales?
- What pricing strategy have you devised?
Pricing and Sales
Your pricing strategy is another marketing technique you can use to improve your overall competitiveness. Get a feel for the pricing strategy your competitors are using. That way you can determine if your prices are in line with competitors in your market area and if they are in line with industry averages.
Some of the pricing strategies are:
- retail cost and pricing
- competitive position
- pricing below or above your competition
The key to success is to have a well-planned strategy, to establish your policies and to constantly monitor prices and operating costs to ensure profits.
Advertising and Public Relations
How you advertise and promote your goods and services may make or break your business. Having a good product or service and not advertising and promoting it is like not having a business at all.
Many business owners operate under the mistaken concept that the business will promote itself, and channel money that should be used for advertising and promotions to other areas of the business. Advertising and promotions, however, are the life line of a business and should be treated as such.
HIS CPA has developed marketing plans for small businesses in Atlanta and Fulton County. We would be happy to assist you with your marketing plan, or any other portion of your business plan. Please feel free to call or contact us.
HisCPA: A Christian CPA Firm in Duluth GA Proudly Serving Suwanee, Lawrenceville, Snellville, Lilburn, Duluth, Norcross, Peachtree Corners, Atlanta, Gwinnett, Fulton, Johns Creek, Forsyth, Flowery Branch, Buford, Cumming, Hamilton Mill, Chateau Elan, Winder, Gainesville, Hart County, Dunwoody, Grayson, Alpharetta, Roswell, Sandy Springs and Tucker as an Award Winning CPA.