Developing a Business Plan, Part 2.1

This is Part 2.1 in a series of 5 parts. You will learn about The Marketing Plan (Part 1):

• Market Research
• Economics
• Products

The research and economics sections answer the ‘Why’ and ‘How’. The marketing plan will be the basis of the all-important sales projection. No matter how good your product and your service, the venture cannot succeed without effective marketing. And this begins with careful, systematic research. • What do you know about your intended market? • Do you know the difference between primary and secondary market research, and how to utilize them for your business plan? • What do you know about your market? (i.e.: size, % share, demand, trends, growth potential, barriers, market change anticipation, etc.) Use the business planning process as your opportunity to uncover data and to question your marketing efforts to gain clarity and honest perspective.

You will learn the importance of each section of a business plan and how to write each section for your audience.