Developing your market plan

If you were showing this plan to an investor, this section may be the key to your success. 2. 0 Situation Analysis – What critical issues do you face? What forces in the micromanagement need to be considered? What are the company’s capabilities? 2. 1 Market Summary – How would you define the market? How big is the market? How fast is the market growing? What are the relevant trends? 2. SOOT Analysis – What are the Internal Strengths and Weaknesses, and External Opportunities and Threats? 2. 3 Competition – Who are competitors?

What are they doing? What is their position in the market? How do they compare? 2. 4 Product (Service) Offering – What needs does the product or service fulfill or what problem does it solve? What is the product offering? What are the features, advantages and benefits? 2. 5 Keys to Success – What are the most important factors to making your plan successful? 2. 6 Critical Issues.

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Hand your Marketing Plan to a trusted friend who has a marketing background. Say to them, “If I gave this to you and asked you to execute this, would you be able to do so? ” In effect, would your friend be able to take that which you hand them and with full understanding be able to drive the Marketing Plan’s execution? You may also want a relative, friend, or associate to read through your marketing plan for spelling and grammatical errors. After working on your marketing plan so diligently, it is always helpful to gain the perspective of a fresh set of eyes.