Q. What is a Marketing Plan? What exactly do you mean by a marketing plan? 
A. Marketing expert, Joe Gracia, responds: A Marketing Plan lays out the specific details concerning how you are going to carry out your Marketing Strategy. It will describe your target audience more clearly, and define the problem(s) they are trying to solve. It will describe your solution -- product/service -- more specifically; how much it will cost to produce and deliver it and how much you are going to charge for it. It will also describe what additional products and services you will offer your customers on the back-end. It will define specifically what Marketing Vehicles you will use to contact and attract potential customers to your business. You may plan to use one type of Marketing Vehicle, or you may choose to use many. It will spell out exactly what you will do to convert your target prospects into customers. How will you follow up with them and what will you offer to them? How will they purchase your products/services -- cash, check, credit cards? It will also include general projections like your sales goals. Are you planning on generating a million dollars annually, or ten thousand? How much profit will you get to keep after your expenses? How many target prospects will you need to attract to make one sale? What percentage of your customers can you expect to purchase additional items in the future? Your Marketing Plan can be as detailed as you want it to be. You don't have to have all of the answers to these questions, but you must be considering them. Your marketing plan will be a living document -- meaning it will evolve and improve as you gain more experience and as your business grows.
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