This is the part where you explain how you plan to put into practice what you have planned. In this part of the business plan you will state and define your strategy (marketing, sales) and specify assignments and milestones.
The business implementation strategy is essential for the success of the business. Stating it in a very clear, understandable manner can be a very helpful tool for achieving this goal, as it must communicate to the persons who will actually work at the actual implementation. The reasoning behind the strategy should be also stated to ease the process.
A strategic marketing plan example
Is essential for general business planning strategy implementation. It must put an emphasis on product/service and support, build a relationship business and focus on the target market. Its final purpose is identifying and exploiting the resources of potential customers in an optimum manner.
- Value proposition
- settles product value rank in accordance with the offered quality and particular features placing it on a values scale.
- Competitive edge
- stablishes the strong points of your business, the advantages you offer to excel competition.
- shows where the business is placed within the market, what the characteristics of the business are — products/services compared to competition.
- explains the price policy related to the product characteristics and the market tendencies. Setting the price is important as price can constitute a ranking measure, price will put the products to question if it is too high or too low.
- states and explains the main planned means for product promoting (e.g. media, catalogs, e-mail, posters, shows etc.).
- gives the main directions and assignments for product/service distribution channel (buyer, vendor).
- Marketing programs
- description of planned programs, if the case.
- Sales strategy
- is the most important part of the marketing planning. It measures the business’ success. Settle here the way your company will approach the customer (e.g. Internet, sales staff etc.). Remember, you are not just selling a product, you are selling a concept, an image. The personal impact and the approach of the customer are crucial. Create a collaboration relationship, don’t overlook the listening principle, keep in mind that usually people do not agree with the idea of being convinced into buying something.
- Sales forecast
- should be made on the basis of market analyses and previous customer, competitor (when it is the case). It usually covers 5 years.
- Sales program
- decribes punctually the steps you have planned in order to achieve the projected sales. (preparation stage, staff, customer approach, product presentation, aids, etc.)
It is not enough to know and present your products, it is necessary to understand and present your products and services so as customers identify them as being relevant and beneficial.
When drawing the strategic marketing plan you should be aware of the fact that products’ offer can be limited to the capacities of the market but also that a market can be created/educated for a product.
This part of the business implementation strategy is ment to play the role of a point of reference, specifying planned or existing alliances with companies or persons representing a warranty for your business, providing know-how, renown, or material basis.
Assignements and milestones for strategy implementation
Here you settle step-by-step the milestones for the planned activities and designate the people in charge.