You Need a Marketing Plan to Grow Your Business In Nigeria

mktTo grow your business, you need a marketing plan. The right marketing plan identifies everything from 1) who your target customers are to 2) how you will reach them, to 3) how you will retain your customers so they repeatedly buy from you. Done properly, your marketing plan will be the roadmap you follow to get unlimited customers and dramatically improve the success of your organization.

Section 1: Executive Summary Complete your Executive Summary last, and, as the name implies, this section merely summarizes each of the other sections of your marketing plan. Your Executive Summary will be helpful in giving yourself and other constituents (e.g., employees, advisors, etc.) an overview of your plan.

Section 2: Target TGT +2.16% Customers This section describes the customers you are targeting. It defines their demographic profile (e.g., age, gender), psychographic profile (e.g., their interests) and their precise wants and needs as they relate to the products and/or services you offer. Being able to more clearly identify your target customers will help you both pinpoint your advertising (and get a higher return on investment) and better “speak the language” of prospective customers.

Section 3: Unique Selling Proposition (USP) Having a strong unique selling proposition (USP) is of critical importance as it distinguishes your company from competitors. The hallmark of several great companies is their USP. For example, FedEx’s USP of “When it absolutely, positively has to be there overnight” is well-known and resonates strongly with customers who desire reliability and quick delivery.

Section 4: Pricing & Positioning Strategy Your pricing and positioning strategy must be aligned. For example, if you want your company to be known as the premier brand in your industry, having too low a price might dissuade customers from purchasing. In this section of your marketing plan, detail the positioning you desire and how your pricing will support it.

Section 5: Distribution Plan Your distribution plan details how customers will buy from you. For example, will customers purchase directly from you on your website? Will they buy from distributors or other retailers? And so on. Think through different ways in which you might be able to reach customers and document them in this section of your marketing plan.

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About udeozochibuzo

ENTREPRENEURSHIP, INFORMATION, NEWS-POLITIC, BUSINESS
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