Marketing Plan For Online Business

Marketing Plan For Online Business-54
It should therefore be a practical reflection of your strategy.If you understand the market well, you can probably break it down into different segments - groups of similar customers.

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A STEEPLE analysis helps you to identify the main opportunities and threats in your market: You also need to understand your own internal strengths and weaknesses.

For example, the main strengths of a new business might be an original product and enthusiastic employees.

Your marketing objectives should be based on understanding your strengths and weaknesses, and the business environment you operate in.

They should also be linked to your overall business strategy.

Your marketing strategy and plan will need to take this into account, targeting customers who appreciate quality, promoting your product in ways that help build the right image and so on.

Understanding the environment your business operates in is a key part of planning and will allow you to discern the threats and opportunities associated with your area of business.

For example, suppose your business objectives include increasing sales by 10 per cent over the next year.

Your marketing objectives might include targeting a promising new market segment to help achieve this growth.

Although the executive summary appears at the beginning of the plan, you should write it last.

Writing the summary is a good opportunity to check that your plan makes sense and that you haven't missed any important points.

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