How do you Prepare a Small Business Marketing Plan ?

It is most important that you define your market, your position in it, and outline who your competitors are.

You need to demonstrate that you're fully aware of the marketplace you're planning to operate in, and that you understand any important trends and drivers.

You should also be able to show that your business will be able to attract customers in a growing market despite the competition.

What are the Key Factors ?

1. Market
- its size, historical data about its development and key current issues. 2. Target Customer Base
- who they are, and how you know they will be interested in your products, or services.

3. Competitors
- who they are, how they work and the share of the market they hold. 4. Future
- anticipated changes in the market, and how you expect your business, and your competitors, to react to them.

5. You also need to know how your competitors' advantages, and disadvantages, compared to your own.

6. Describe any competitive analysis you have carried out, and include some what-if scenarios, that show how your business would deal with customers' changing needs, or any other market changes.

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