Sunday, November 13, 2016

                                                         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.

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