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Marketing is a strategic function that starts with a marketing plan encompassing the Four P’s: Product, Price, Promotion and Place of Distribution. As with any investment you make, money you spend on marketing should generate a return. While that return simply could be greater cash flow, the best marketing plans result in higher sales and profits.
Crafting an effective marketing plan entails some basic elements, although details may vary. The following outline presents the most critical actions.
If developing an overall marketing plan seems complicated or too time-consuming, get outside help. You can find several free templates for marketing plans on the Internet.
If you plan to contract a marketing firm, look for one that can advise you on a broad range of initiatives. Explain your objectives, share the results of your market analysis and customer profiles, and let a professional help you determine how to implement the right marketing program.