Strategic Action Plan (Market Plan Outline)
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1. Market Research. Collect, organize, and write down data about the market that is currently buying the product(s) or service(s) you will sell. (From now on we'll refer to your products or services as "product.")Some areas to consider: Market dynamics, patterns including seasonality Customers - demographics, market segment, target markets, needs, buying decisions
Product - what's out there now, what's the competition offering
Current sales in the industry
Benchmarks in the industry
Suppliers - vendors that you will need to rely on
2. Target Market
Find niche or target markets for your product and describe them.
3. Product
Describe your product. How does your product relate to the market? What does your market need, what do they currently use, what do they need above and beyond current use?
4. Competition
Describe your competition. Develop your "unique selling proposition." What makes you stand apart from your competition? What is your competition doing about branding?
Next: Mission Statement... >>
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