Section 1: Marketing Plan & Sales Strategy
Write the three to five page Marketing Plan & Sales Strategy section of your business plan, in which you:
1. Define your company's target market.
a. Analyze the types of consumers who will be drinking your beverage in demographic terms (i.e., age, education level, income, gender, ethnic group, etc.). Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes).
b. Outline the demographic information for your company specified on the worksheet in the course text (p. 107 | Demographic Description).
2. Assess your company's market competition.
a. Use the factors listed in the course text graphic to assess your company's market competition.
b. Defend your strategy to successfully compete against market leaders in your segment.
c. Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the text .
3. Clarify your company's message using the information provided on the worksheet in the text.
4. Identify the marketing vehicles you plan to use to build your company's brand. Justify the key reasons why they will be effective. Provide examples of other non-alcoholic beverage companies that use these tactics effectively.
Section 2: Marketing Budget
Section 2 uses the "Business Plan Financials" MS Excel template (see: Course Required Files in Week
1). Use the "Business Plan Financials Guide" (see: Course Required Files in Week 1) to support your development of the Marketing Budget.
6. Complete the Marketing Budget worksheet for your company.