"Public Relations"

Public Relations, as stated in our text , there is an old saying in the entrepreneurship field, "While you have to pay for advertising, you can pray for PR!  Brands and public relations firms may be diverting more of their budgets to content marketing these days, but there's still plenty of clout in PR's bread and butter, earned media.  When it comes to PR resources online, it seems that you could pretty much choose form millions of PR blogs offering tips, tricks, and advice on how to do public relations effectively.  With so many out there, it can be difficult to separate the quantity and form the quality.  Some companies actually plan and execute well controlled PR programs that are part of their integrated promotional plans.  PR is designed to create and display a positive image of a company, its products/services, and people.  Publicity is one of the most used PR tools.  Publicity is the practice of creating and disseminating information about a company, its products/services, people, or company activities to secure favorable news coverage in the media reaching identified target audiences.  Publicity is not the only form of public relation.  There are many others, such as sponsorship and collateral materials like annual reports, brochures, newsletters, corporate Web sites, or videos.  Through sponsorship you can reach your target audience and build goodwill toward your company and its products/services.  PR can make or break your venture, helping you build your brand and bring promise to your venture. 

                                                         Marketing Plan vs Business Plan
                                                                       "Marketing Plan"
The Marketing Plan as stated in our text book, is the road map to a successful business venture.  The anatomy of the marketing plan is the essential output of the venture planning process.  The purpose is to produce a concrete plan of action that will achieve the ventures' objectives.  Putting your ideas on paper and having a vision for your venture is key to being to being successful.  Also, knowing the difference between the Ventures' Business Plan and the Marketing Plan.  The marketing plan has several sections and analysis points.  The Competition Analysis section, is the most intriguing, fun, and challenging.  This analysis involves research of your competitors, understanding their strengths, weaknesses, and strategies.  Also outlining the competitive advantages of each competitor, the customers they target, the market share they hold, and their financial power.  Understanding the key competitive plays of your competitor and how your strategy will be different from the competition and how you will beat the competition.  Which in turn will help you to reach your desired target market.  Understanding what makes your customers happy and why they would buy from you or demand your services.

Market Penetration

                                              "Marketing Penetration and Competitive Advantage"

                                                              "Marketing Penetration"

Marketing penetration is a business growth strategy, in which a company executes initiatives to expand the customer base for its products and services within a certain market.  Market penetration can be both a measurement and a projection of how successful newcomer businesses have been, or will be against the established competition.  Usually performed by start ups and early businesses, market penetration requires careful assessment.  A solid market penetration plan begins with identifying the products or services that the research will focus on.  Market penetration is supposed to be a low risk business growth strategy typically centered around increasing the number of business locations in the interest of capturing greater shares of an existing customer base.  Done well, market penetration yields valuable gains in market share.  It is known that any low risk endeavor, marketing penetration has limits.

Source: smartling.com/market-penetration