Formulating a business plan is a fundamental strategy in business. A business plan can be essential in achieving both long-term and short-term goals. For a business plan to be effective, designing a section of a well-planned marketing plan is essential. The marketing plan of a business plan entails sections such as target customers, unique selling proposition, pricing, distribution plan, and online marketing strategy. This paper will expound on the sections that should be included in a marketing plan.
When starting FitMePerfect.com, I would consider including the target customers in the marketing section of my business plan. The target customers are the customers that are intended to purchase the products. In this case, I would need to include the gender, age, and body measurements (Lavinsky, 2013). Including such details in the marketing section of the business plan would make it easier for the target consumers to order specific type of jeans that are in line with the exact body measurements.
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Unique Selling Proposition
A unique selling proposition is a benefit highlighted by a company that differentiates from the other companies that sell the same field products. I would include a unique selling proposition in the market section of my business plan. A unique selling proposition is essential as it helps consumers distinguish your company from other companies of the same line (Lavinsky, 2013). For a unique selling proposition to be efficient, it is essential to know the customers’ desires and formulate a unique selling proposition from what the customers prefer.
Pricing and Positioning Strategy
As part of the marketing section in the business plan, I would include the pricing and positioning strategy of the jeans sold in FitMePerfect.com. The prices and positioning strategy in the market section must go hand in hand (Lavinsky, 2013). For the prices and positioning strategy to be aligned, the company’s positioning must first be approved by the management as desired, followed by the pricing. For instance, if a company’s operational efficiency is valued in a proposition in position strategy, the pricing should be competitive.
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I would include a distribution plan in the marketing section of my business plan. A distribution plan is basically where the customers can buy and purchase the products (Milano, 2019). The distribution plan of a marketing section in a business plan should have details about distribution options and the effect of these distribution options on the sales, profits, and volumes of the products in a company (Milano, 2019). For instance, the customers should have precise details of whether FitMePerfect.com has a retail and wholesale distributor or whether the jeans are purchased through the company’s website.
Online Marketing Strategy
Since FitMePerfect.com is an online-based business, I would include an online marketing strategy in the marketing section of my business plan. The online marketing strategy aims at purchasing web-based platforms such as social media, email, and search engines to advertise the company’s products online. Most of the customers in the modernized world purchase products online (Lavinsky, 2013). Having an effective online marketing strategy in the marketing section of a business plan is essential in securing both new and old customers who shop online.
Overall, the marketing section in a business plan has a hand in the success or failure of a company. The management must analyze the information that should be included in the marketing section of a business plan before formulating a business plan. An effective marketing section leads to the increase in sales and profits of a company, while a poor marketing section leads to poor sales and profit results.
Lavinsky, D. (2013). Marketing Plan Template: Exactly What To Include. Forbes. Retrieved from https://www.forbes.com/sites/davelavinsky/2013/09/30/marketing-plan-template-exactly-what-to-include/?sh=232211143503. Milano, S. (2019). Distribution Methods and Marketing Plans. Your Business. Retrieved 22 July 2021, from https://yourbusiness.azcentral.com/distribution-methods-marketing-plans-11901.html