Determines Your Success
Your marketing plan is a subset of the business plan. It is the part of your plan that will ultimately determine your success or failure. Why? Because you are in business to market your products, as opposed to provide products to the market.
It is your responsibility as an entrepreneur and business owner to take what you have to offer to the market. The market isn't necessarily going to come to you. You, as the marketer, must reach out to and communicate with the market. The marketplace expects this from you.
The marketing plan is your roadmap for success. You will go nowhere without one. The more concrete and disciplined your plan is the more success you will have.
Within your marketing plan you must cover the 4 Ps of marketing in order for the marketplace to take you seriously. They are,
- Product (or service)
- Price (of your product or service)
- Place (the location of your business)
- Promotion (of your product or service)
After the 4 Ps of marketing some people add other Ps. Here are two more Ps that are absolutely necessary for your success. They are,
- Passion (your's and the market's), and
Your passion for what you are offering the market will drive your success. In the beginning when you first conceived your business idea you should have chosen a field that you love. It doesn't make sense to involve yourself with something that you hate. People do that to have a job, not to run a business.
If you have passion for your business idea your labor will be effortless. You won't have to drag yourself out of bed in the morning to go to work. Someone instead will have to drag you to bed kicking and screaming in the evening.
The second half of passion is that of the marketplace for what you are offering. If the market is passionate about your offering it will be receptive to your product or service.
People are the real key piece of your business outreach. You have to give people what they want, as opposed to giving them what you want them to have. You may have conceived what you believe is the ultimate product or service, but if people don't share your passion, forget it. They won't buy.
Serving the wants and needs of people is what business is all about. In today's global economy and information age those that do business primarily to make money are falling by the wayside. This is evident of business culture in the U.S.
Perceived customer value is the value and desirability of your product or service in the mind's of customers. It has to be strong in order for your product to sell. The key here is the value that customers perceive for your product, not your's.
In your marketing plan you have to get the people "P" right or once again, forget it. Your niche of people that you serve will reward you handsomely if you treat them well. It is only human nature.
If you get all the Ps worked well into your marketing plan subset of your business plan you will be well on your way to business success. Perhaps the most important "P" for you as a marketer is passion. Make sure you reveal it in your plan.
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