Identify your customers by their age, sex, income/educational level and residence. At first, target only those customers who are more likely to purchase your invention. As your customer base expands, you may need to consider modifying the marketing plan to include other customers.
Develop A Marketing PlanDevelop a marketing plan for your business by answering these questions. Your marketing plan should be included in your business plan and contain answers to the questions outlined below.
Answer the following questions in your marketing plan.
- Who are your customers? Define your target market(s).
- Are your markets growing? steady? declining?
- Is your market share growing? steady? declining?
- Are your markets large enough to expand?
- How will you attract, hold, increase your market share?
- What pricing strategy have you devised?
- Did you know that we have a tutorial on Creating a Marketing Plan?