MARKETING PLAN

Summary Executive
Part 1

A marketing plan is your road map for finding and keeping customers. By planning your marketing step by
step, you give your company the best chance of success in today’s competitive marketplace.
From establishing a strong brand to understanding your ideal customer to creating a compelling
buying experience, the time you put into planning now will pay off many times over in the months and
years to come.

Company Name Here

Insert Company Logo here (you may

make a logo for your company if
you are making a new business)
MARKETING PLAN
Part
Part Executive Summary

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
Summary of Marketing Plan .......................................................................................................... 3

2 DEFINE YOUR BRAND

What is your vision statement? .......................................................................................................... 4
What is your value proposition? .................................................................................................................. 4
What is your positioning statement? ................................................................................................. 4

3 IDENTIFY YOUR CUSTOMERS

Your top three personas ...............................................................................................................3

4 UNDERSTAND YOUR COMPETITORS

Your top three competitors ............................................................................................................ 4

5 ANALYZE YOUR BUSINESS

Strengths ....................................................................................................................................... 5
Weaknesses .................................................................................................................................. 5
Opportunities ................................................................................................................................. 5
Threats .......................................................................................................................................... 5

6 DEFINE YOUR DIFFERENCE

What is your USP? ............................................................................................................................. 6
What is your elevator pitch? .............................................................................................................. 6

7 MAP YOUR CUSTOMER’S JOURNEY

Your customer’s journey .............................................................................................................. 7

8 CREATE YOUR ACTION PLAN

What is your marketing budget? ........................................................................................................ 8
Who is on your marketing team? ................................................................................................................ 8
Who is responsible for what? ...................................................................................................................... 8
What is your pricing strategy? ..................................................................................................................... 8
How will you distribute your goods or services? ...................................................................................... 8
How will you create or update your website? ........................................................................................... 9
What is your social media strategy? ............................................................................................................ 9
What is your email strategy? ....................................................................................................................... 9
What is your advertising strategy? ............................................................................................................. 9
What is your public relations strategy? ................................................................................................... 1 0
What is your after- the- sale strategy? .............................................................................................. 1 0

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 MARKETING PLAN
Part
Part Executive Summary

Write an executive summary. Keep it short and to the point. Executive Summaries are often
done at the end of the business plan writing process even though it appears at the
beginning of the plan. The Executive Summary should not exceed 2 pages, and 1 page is
the normal length. Summarize the key information from each section:
 MARKETING PLAN
Part 2 Define your brand

A strong brand is the foundation for your company’s success. To build a great brand, you need to
be clear about why you’re in business and where you want to take your company.
You may find yourself returning to this section to fine-tune and adjust as you work through the full
marketing plan and clarify your understanding of your target customers, competition and market
opportunities.
Further reading: 3 essential elements of a successful brand and 3 common signs your brand is broken

What is your vision statement?

This is typically two or three simple sentences that explain what you want to achieve, your core values and how
your brand reflects them.

What is your value proposition?

What value does your organization provide to customers that no one else can?

What is your positioning statement?

How do you want to be perceived in the marketplace?

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 MARKETING PLAN
Part 3 Identify your customers

The purpose of a business is to create and keep a customer . This makes understanding customers the
top priority of any business.
Further reading: How to boost sales: Start by knowing your customer

Your top three personas

Create three personas or imaginary individuals. They should correspond to the most important customer
segments you want to attract. For example, a coffee shop near a university might be going after
students, parents of young children and the local business crowd.
Your personas will help you visualize the customers you are targeting and develop brand messages
and marketing tactics that will resonate with them.

PERSONA 1 PERSONA 2 PERSONA 3

What is their Seniors Patients People who have poor sleep quality
demographic profile? Age:55-80 Any age. Any age/any race/
Age, sex, profession, mid to high income A n y g e n d e r / a n y j o b / a n y ra c e A n y ge n d e r / a n y j o b / a n y
income, social status, Any education level mid to high income/ an y ed uc atio n any job/mid-to high income/
Middle or upper social No education limitation
Status or they have children
who are in upper or middle class/
Empty nest 1 or solitary old
people
What are their values, -They feel distinctly positive -Most of them are overwhelmed. Or they have low productivity,cognitive ability and
focus.

hey cannot manage their mood and stress very well. -Some of them feel
attitudes, interests, about their health, they are a burden to their family -They feel pressure from
but they know they and friends. They hold a work, study or life.
needs and lifestyle are at high risks for diseases. n egative attitude. -They don’t know much
choices? -They try to know - Some of them are optimistic. about their sleep information
their health more They try to be well-healed. such as duration of real sleep.
What is important to and prevent spasmodic diseases. - healthy bodies are important to them. -Getting a better sleep is important to them. -Living
longer is important for them.
them?

How do they like -They like face-to-face conversations. -They might prefer online purchasing. Patients are - Online or face-to-face both are
to do business? They don’t spend lots of time on usually at hospitals and not easy to go to available for them.
Online or face- to- face? e l e c t r o n i c d e v i c e s . T h e y d o n ’ t s p e n d t o m u c h . and not easy to go to store.
-They spend lots of money on health care -
How much they spend
How much do -They want a health device with data analysis and - T h e y a r e l o o k i n g f o r a h e a l t h d e v i c e u s u a l l y d e p e n d s .
they spend? Health advising function. with accurate data that can be reported to doctors, They need a report of their sleep
What do they want They prefer lower price products. and prevent th e m f r o m e m e r g e n c y . quality, advice about the
in terms of features, optimal sleep time and so on.
functionality and cost?

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Where are they located? -Most of them are located in -Most of them are located in -Most of them are located in

western countries, especially western countries, especially western countries, especially

North America countries. North America countries. North America countries.

-They might live in urban areas -Most live in big cites in order to

And cities. accept better treats.

Why would this person They need a set of unique analysis. They need an accurate automatic We have the most advanced
buy your product or They prefer more convenient devices monitoring to better understanding wearable tracking device. We can
Service which are easy to be used. Personal health. learn about the parameters
of impact of their sleep, and
provide a good waking experience.

MARKETING PLAN

Part 4 Understand your competitors

You must understand what your competitors are doing and how their products or services stack
up against yours. Analyze your competitors’ websites, product documents, brochures and
catalogues. Talk to their customers about their needs. And don't overlook the opportunity to learn
more by talking directly to the competition.
Further reading: How to conduct your own low-cost research on the competition
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 Your top three competitors (Direct Competitors)

Use the following chart to analyze your top three competitors.

COMPETITOR 1 (OURA) COMPETITOR 2 (Movano Ring) COMPETITOR 3 (Motiv)

Where are they located? Oulu, Finland Pleasanton, California, U.S. San Francisco, California, U.S.

How long have they been 9 years 4 years 9 years

in business?

What are their target -people who play sports -people who need health care -People who have a fitness goal
markets? -People who have poor sleep -People who have poor sleep or plan.
-People who do not like smart watches -People who do not like smart watches -People who have poor sleep.
-designing the devices particularly -People who do not like
with women. smart watches
-People who want to know their bodies

What are their unique -7 days battery life& full charge -Planning to first hold a beta release -Online security
selling points, competitive in 20-80 min -Bold design and thin build -It check your heart rate every
differentiators? -Detection of covid-19 symptoms -Movano’s app few minutes.
-Allows airplane mode - Can share insights on personal sleep -It’s super stylish yet
-Lightweight material -Non-invasive glucose levels and comfortable to wear with its
-Compatible with iOS and Android cuffless blood pressure thin and lightweight design.

What are their strengths, -Strengths: 1. Many technological advantages -Strengths: -Strengths:
weaknesses? such as 3-axis accelerator, vibration 1. Unique medical data. 1. Spin plans that other
motor, relative SpO2 sensor and so on don’t have.
2. Tag feature helps to track small changes 2. specialized for women. High 2. Personal training options to
-Weaknesses: fit measure to women body features. fit everyone’s fitness goals.
1. Not be able to wear during certain -Weakness: -Weakness:
types of workouts like lifting weights. 1. Lack of marketing strategies. Minimal app experience
2. It is pricey. 2. Lack of information about the products.
3. Unclear mission.

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 MARKETING PLAN

Part 5 Analyze your business

Now it’s time to take a hard look at your own business. You do this with a classic SWOT analysis
— defining your Strengths, Weaknesses, Opportunities and Threats.

Strengths
What characteristics does your business possess that give it an advantage over others?

Circular has strong resources include financial, physical and human resources. The advanced
accesses to these resources and capitals bring about high quality products and satisfactory services
for consumers. For example, we have conditions to innovate such as testing advanced projects to
improve our product functions. We have extensive sleep monitoring, activity tracking, contributes to
form a healthier lifestyle, an easy-to-navigate app etc. All of these strengths of functions might be
factors that encourage people to purchase.

Also, except for create new things, we have enough capital to enhance what we possess. Including
website reinforcement, delivery efficiency, and so on. These are potential stimuli that impressed
consumers.

We expand our businesses all over the world. We are launching in France, Germany, Italy, U.K.,
U.S., Canada, Hong Kong, Singapore, and Australia. Although we have not launched our products
yet, we have already half built our brand.

Weaknesses
What places your business as a disadvantage versus others? Address these weaknesses immediately.

- Because our circular rings are presale products, the exact release date is unknown. Also, the
complete list of functions are unclear.

- We do not have online security to safeguard consumers identity on the website. However, some of
our competitors such as Motiv has it.

-No brand loyalty yet. Because of starting late, we can hardly build our bran loyalty in a short term. An
ongoing relationship with health care counselors that our target consumers are looking for is still
undeveloped or half-developed.
Opportunities
What conditions or situations in the marketplace or in your competitors’ offerings could you exploit to your advantage?

- My company is looking for hit B2C market (Business to Consumer Market) via insurance and health
companies. This is a great opportunity for us to extend economic scales. This is probably where the
real money is for a product like a circular ring.

- The market is growing due to some social factors. For example, people have started paying more
and more attention on their health data analysis during the pandemic.

-The aging population all over the world is also a trend that is beneficial to our company.
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Threats
What conditions or situations in the marketplace, or activities by your competition, could work against you?

There are many direct competitors on the market. Many of them have already been established for
several years. Their general plans and design are similar to ours. Since our products have not been
released yet, these competitors have priority to attract consumers that we are also targeting on Also,
the market of intelligent health devices is competing with innovation. Technology improvement of
others is a killing threat to a emerging enterprise.

MARKETING PLAN

Part 6 Define your difference

You’re ready to craft a unique selling point (USP), a description of what makes you distinct in
the marketplace.
A USP must articulate a compelling and decisive advantage you have over the competition. Consider
writing your USP as an “only statement” as in: “We are the only business in the city/the country/the
world that does X.” Refer to your vision, values and positioning statements in Part 1.
Further reading: Tips on finding your unique selling point and Why differentiation is the key to
small business success

What is your USP?

What is your elevator pitch?

Further reading: Your elevator pitch: How to present your business in 6 0 seconds

Succinctly explain who you are and what you bring to the market that no one else does.

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 MARKETING PLAN
Part 7 Map your customer’s journey

Your goal is to deliver the right messages , to the right people, at the right time. It’s essential to
communicate your brand consistently throughout your customer’s entire journey with you—from
discovery to purchase to after-purchase support and repeat business.
The key is to understand, at each point in the journey, what customers hope to achieve from the
transaction and what their expectations of your business are. By referring back to the customer
personas you completed in Part 2, complete the following chart to clarify what marketing activities at
each point on the journey are necessary for creating a loyal customer.

Your customer’s journey

PERSONA 1 PERSONA 2 PERSONA 3

ATTENTION
How will we make this person
aware of our business?

INTEREST
How will we get them
interested in our business?

DESIRE
How will we create a desire
to purchase?

ACTION
How will we get them to take
action and buy?

LOYALTY
How will we make them loyal
to our business?

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 MARKETING PLAN
your action plan
Create
Part 8

You’ve done the hard work of defining your business and its market . Now it’s time to bring it all
together by planning the marketing tactics you will use to attract and keep customers. Describe how
you will promote your product or service, remembering that not every tactic makes sense for every
business. Consider what will resonate with those customer personas you completed in Part 2, given
your budget and human resources.
But first, start with some basic information about the resources and strategies you will use.

What is your marketing budget?

How much can you afford to spend this year?

Who is on your marketing team?

Who is responsible for what?

What is your pricing strategy?

How will you distribute your goods or services?

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 MARKETING PLAN
your action plan
Create
Part 8

How will you create or update your website?

DESIGN (Further reading: 5 steps to launching your new website)

How will you get a modern, attractive, effective website?

CONTENT (Further reading: 10 tips for attracting customers with great online content)
What kind of content will you produce? Who will be responsible for regularly producing and managing
it?

SEARCH ENGINE OPTIMIZATION (Further reading: SEO basics for

entrepreneurs) How will you optimize your site so your content ranks high on search engine results?

What is your social media strategy?

Further reading: 7 ways to turn social media fans into customers and our free social media eBook

What platforms make sense for your business? Who will plan and manage your communities and respond
to questions?

What is your email strategy?

Further reading: Using e- newsletter to achieve marketing success: 5 tips

What will be your email marketing strategy (keeping in mind Canada’s anti-spam law)

What is your advertising strategy?

PAY-PER-CLICK (Further reading: Learn to win with pay-per-click advertising)

PRINT/TV/RADIO (Further reading: How to avoid pitfalls in advertising your business)

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 MARKETING PLAN
your action plan
Create
Part 8

What is your public relations strategy?

Further reading: 7 low- cost marketing strategies to implement now

Public relations includes efforts to woo editors or journalists to cover your business, and also having an action plan
to protect your brand in a crisis scenario.

What is your after- the- sale strategy?

Further reading: 6 easy steps to create a customer loyalty program

How will you ensure customers remain loyal and happy for the long-term?

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 For more tips from the Business Development Bank of Canada,
visit our marketing advice hub and download our free online marketing eBook .

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