Preparing a Marketing Plan for your product or service is a real eye-opening experience. While we all hope that our product or service will appeal to the masses, the truth is, that may not happen. Assembling a Marketing Plan first and foremost forces you to clearly define what you are selling.

From there, you define the demographics of the market for your product or services. You research on-going or upcoming trends in the industry, your existing and potential competition and whether or not the market is already saturated.

And the time to analyze this valuable information is before you spend money opening the door to your new business venture. A marketing plan is one valuable tool that will help your business survive.

Analyze the Market

This section plays an important role in determining who will purchase your product or service, and why. You need to identify such attributes as gender, age group, where they live, their buying habits and their social values.

This section also has you look at the current economic climate including upcoming changes in laws or technology that might impact the delivery and/or reception of your product or service.

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