First Step in your marketing Plan is to conduct Viability Analysis, namely, Porter’s 5 Competitive Forces Model, P.E.S.T. Analysis, SWOT Analysis Matrix, Target Segment Analysis, Product Life Cycle Analysis, Competitive Advantage Model, Product Growth Directions, BCG Matrix. This is to qualify if the business in question is viable from a market demand and supply point of view.
The Marketing Plan includes Viability studies namely Porter’s 5 factors, P.E.S.T. analysis, S.W.O.T. analysis, Target Segment analysis, Product Life Cycle analysis, Value Proposition of products, Competitive Advantage Model, Product Growth Directions, BCG Matrix as well as Market Planning Strategies, namely Value Proposition (USP), Positioning statement, Marketing Mix (4Ps), Internet Marketing, Integrated Marketing Communications Plan, Marketing Implementation plan, Marketing Budget plan
This is the most crucial component of your business … even before you start. It provides the fundamental framework & blue print of your business in 6 sections, mapping out your business goals, marketing strategies, operations framework, organization structure, financial viability & business expansion or exit strategies.
