The first five components of a business plan provide an overview of the business opportunity and market research to support it. The remaining five components of the plan focus mainly on strategy, primarily the marketing, operational, financial and management strategies that that firm will employ. This article details these elements.
Marketing Plan. The marketing plan details your strategy for penetrating the target markets. Key components include the following:
A description of the company’s desired strategic positioning;
Detailed descriptions of the company’s product and service offerings and potential product extensions;
Descriptions of the company’s desired image and branding strategy;
Descriptions of the company’s promotional strategies
An overview of the company’s pricing strategies
A description of current and potential strategic marketing partnerships/ alliances
