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On Target: The Book On Marketing Plans
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Research your customer base first. Your present customers are probably your most important market. Know as much as you can about who your present customers are, where they find you, what they like about you, and what they don't like. Your present customers can lead you to future customers too.
Market analysis is the foundation of the marketing plan. Every marketing plan should include a clear explanation of the market segmentation, target market focus, and a market forecast. It should include detailed information about each of the target market segments.
Use customer surveys, random interviews, feedback sheets, and a lot of common sense. Know as much as you can about your existing customers.
A SWOT analysis stands for Strengths, Weaknesses, Opportunities, and Threats and is a simple and powerful way to analyze your company's present marketing situation.
Who competes with you for your customers' time and money? Are they selling directly competitive products and services, substitutes, or possible substitutes? What are their strengths and weaknesses? How are they positioned in the market?
This real-life SWOT analysis is taken from the sample marketing plan AMT, Inc., a local computer store threatened by growing competition from national office store chains. The complete sample plan can be viewed at Bplans.com.
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