Your Marketing Strategies section is an important element of your business plan. This will give the reader your clearly outlined plan of action to put your products or services in front of your target audience.You will outline how your products will fit into the industry, your price points and how you will market them to the end user.
Your business plan Product Marketing section should include:
1. Product information such as product branding, packaging, quality, warranty or guarantee and functionality. If you have any related products or services used to up-sell or upgrade the product it should be noted in this section as well.
2. Proposed and current promotion plans and strategies should be outlined in this section. This includes advertising, sales staff, press releases, promotional strategies and your available marketing budget.
3. Product pricing is another topic for your marketing plan. You should discuss how you came up with your pricing, how flexible the price is and if you are able to offer wholesale pricing for volume purchasing. If your related products can be bundled into a package it should be included in this section. Special seasonal pricing or discount specials offered at certain times of the year (Christmas for example) should be indicated if appropriate to your industry.
4. Place or distribution of your products. How your customers will obtain your products is included in the Marketing Strategies. You need to indicate if the consumer will by directly from you at your place of business or if you are using other vendors to distribute and market your products. Will you make your products available locally, nationally or globally?
These four P's of marketing should be clearly defined within your Product Marketing Strategies in your business plan. This section will contain important information that you frequently revisit yourself when planning all of your marketing campaigns to help keep you on track.
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