effective steps to frame a successful business plan
TRANSCRIPT
An effective marketing plan maps the direction for your company and helps you to analyse and understand different ways to create an effective relationship with your customers. Here are four key steps for a successful business plan.
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Clear and Focused InsightIt’s always recommended to develop a clear and focused insight to understand why the potential customer should choose your business. Analyse, whether they want your service to make their work easier or get through the daily chores effectively, and then choose a plan that better suits their needs.
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Find Your Audience There may be a huge number of potential customers in the market but you should understand the characteristics of your target customers in order to succeed faster and better. It helps create a clear picture of the expected sales and revenues of your business.
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Identify Your Competitors Which other companies are providing a similar product or service to you? Which companies provide a viable alternative? Research all companies who are a threat to your business.
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Brand-positioning Statement Your strongest competitive advantage is your brand and what it symbolizes for customers. The brand positioning statement must include how you will meet customer needs and beat the competition. Single-minded positioning statement focusing target customers always win the race.
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