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Business Plan – Market Approach
 Includes components of
the marketing plan from:

• Growth trends in the
         industry
  • The strength and
  potential entry of new
      competitors
   • Unique position
       statement
Target Market Criteria – Most Critical
    Component of the Market Approach
• Have a thorough
  understanding of who
  you are selling to.
• There is the geographic
  target market and the
  demographic target
  market.
Breakdown of the major target market
          characteristics
                       psychological




        age                                       social




                                       income &
              gender                   spending
                                         habits
Know Your Competitors!
• The
  positioning
  technique is a
  great way to
  start thinking
  where you
  stand in the
  eyes of
  consumers and
  competitors
The Marketing Plan in Focus

Uncontrollable
Factors of market
two

Uncontrollable Factors
Of market one


    Controllable
    Factors
    • Price
    • Place
    • Promotion
    • Product
Strategize and Implement

• Single
  Differentiated
  Entry?
• Multiple
  Differentiated
  Entry?
• Simultaneous
  Entry?
• What do you want
  to achieve in 5
  months? 1 year?5
  years?

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Business plan – market approach

  • 1. Business Plan – Market Approach Includes components of the marketing plan from: • Growth trends in the industry • The strength and potential entry of new competitors • Unique position statement
  • 2. Target Market Criteria – Most Critical Component of the Market Approach • Have a thorough understanding of who you are selling to. • There is the geographic target market and the demographic target market.
  • 3. Breakdown of the major target market characteristics psychological age social income & gender spending habits
  • 4. Know Your Competitors! • The positioning technique is a great way to start thinking where you stand in the eyes of consumers and competitors
  • 5. The Marketing Plan in Focus Uncontrollable Factors of market two Uncontrollable Factors Of market one Controllable Factors • Price • Place • Promotion • Product
  • 6. Strategize and Implement • Single Differentiated Entry? • Multiple Differentiated Entry? • Simultaneous Entry? • What do you want to achieve in 5 months? 1 year?5 years?