Marketing Plan Writing

Marketing Plan Writing

Any business plan is not complete without a well researched marketing plan. This section exhibits how a business is going to enter in the market with its products / services? There are many types of marketing strategies that are use to build business all over the world, but four P's strategy is mostly found in marketing plans. Let's see what four P's strategy is all about.

The Four P's Strategy:

The four P's strategy consists of Product, Promotion, Price, and Place.

Product:

First out of four P's is "product, or, service" of any business. It is not restricted to any particular product, or, service; rather it covers full offering of the company to put light over the features, benefits, application, and their exclusive characteristics. Normally products that are currently in operation are presented here but, most businesses use to present their future product, and services also.

Promotion:

Next in line of four P's is "promotion". It comprise of all the actions a company takes to attract customer, and make them buy their product. Promotional activities include, but, not restricted to advertising (electronic, and print media), public relations through company executives, newsletters, direct e-mails that may include free samples. This section should only focus on those activities that business will employ in promotional campaign, don't need to give details of those activities that business can do but not employing currently.

Price:

This section of four P's strategies provides detail of "price" positioning that company will set for its products and services. There are many types of pricing policy such as:

Ø Loss Leader Pricing

Ø Penetration Pricing

Ø Price Skimming

Ø Differential Pricing

Ø Competition Pricing

Ø Product Line Pricing

Ø Bundle Pricing

Ø Psychological Pricing

Ø Premium Pricing

Ø Optional Pricing

Place:

Last in line of four P's strategies is "place" or distribution of products and services. This section provides information on how a company will be able to deliver its products or services to its customers. This is crucial from the investor's point; they want to know how a customer will reach to the products and services especially in a market where competition is tough.

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