A Small-Business Marketing Plan
A Small-Business Marketing Plan, During Week 1 you selected the type of small business - This will be Black Cap Wedding and Events, in near rural Stewartville, MN.
In completing your Portfolio:
- Assure that it is in the form of a well-written, 8-12 page paper.
- Spend time to assure that the formatting complies with APA guidelines
- Thoroughly proofread and grammar-check your final product.
- Support your work by referencing the course textbook and at minimum two additional credible, scholarly references.
- Be sure to examine the Portfolio Project grading rubric to help guide your project writing and presentation. (If you want this - please let me know)
Your Marketing Plan must contain the following elements:
- Mission statement. Succinctly state your business’s overall purpose and reason for being.
- Description of the company. Describe your small business and the types of products or services it offers. Include a brief history of the company and its principal owners.
- Statement of goals and core competencies. Explain the advantage your business has in the marketplace and its unique value proposition. Iterate your goals over 1, 3, and 5 years. Goals should be specific and measurable.
- Overall marketing strategy. Describe your marketing strategy based on sound analysis and planning. Include a SWOT analysis and a minimum of one additional planning tool such as the Boston Consulting Group’s matrix or Porter’s Five Forces model.
- Target market. Identify your target market and develop the optimal marketing mix to reach your potential customers.
- Product strategy. Describe the products and/or services your small business will offer to meet customer needs. Demonstrate that you thoroughly understand the most optimum positioning in order to build customer awareness and sales.
- Distribution strategy. Identify the channel(s) and physical facilities your business will use to distribute its products or services.
- Promotional strategy. Identify the mix of advertising, sales promotion, and personal selling activities your business will use to reach customers.
- Pricing strategy. Explain how you plan to set prices for your product or service. Provide data on why you believe the strategy will work.