Marketing Plan

1) What is the project

2) How does it compare in quality and price with
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its competitors
Where will the business be located
With in the market area, to whom will the
business sell its products
What promotional measures will be used to
sell the product
What is selling price of the product
What strategy is needed to ensure that sales
forecasts are achieved.

1) About the product

Short description of the product:

About it size, colour, shape.

About its features, use and benefits
Whether it is a new or existing
product

2) Comparision in quality and

price with its competitors
Determine what will make the

product unique in the market.

Will the price be significantly
different to make it easier to sell.

3) Location of the business

If the business is retail or service oriented,

it must be near the market

If it is production oriented, it may be better
to be closed to its raw material sources or
near infrastructure facilities.
The important factors to consider in
location are:
Proximity to essential raw materials
Proximity to markets
Availability of transport facilities
Availability of efficient and cheap labour

4) Whom will the business sell

its products
Specific target group or market segments
to whom you will aim to sell your
products

Identification of these customers as

clearly as possible (e.g. their profile in

terms of age, sex, income, consumption
pattern, etc.)

5) Promotional Measures
Promotion is necessary to convince

buyers to purchase your product and

not your competitors

Promotion is generally concerned

with advertising, sales promotion,

publicity and personal selling.

6) Selling price of the

product6)
There are three common ways of

determinig the selling price of your

product. These are:
a) The Cost- Plus method
b) The Comparative method
c) What the market will Bear method

7) Marketing strategy
needed
Formulating a marketing strategy means
proper planning, balancing and
integration of the businesss product
strategy, pricing strategy, promotion
strategy.
Should also spend some money for
promotion, price the products correctly
and distributing them to your retails and
customers effectively and efficiently.