Sales and Marketing Plan

[Piotr R. Michalak]

Originally Posted by MaxForce

How are we to know if there is a niche???

Exactly. There are two basic strategies here:

Strategy of competing in a specific market, that already exists
and
Strategy of creating a new market (stepping out of the narrow picture, as I would call it)

They were called Red and Blue-ocean strategies and other names, but mean almost the same.

[cygnus]

Excellent plan for those who want to start a new entrepreneurial venture. The most important point is no. 5 i.e. advertising and promotion. In this highly competitive environment that has to be the most important aspect to gain an edge over the competitors.Also determining your USP is also extremely important to make you stand out of the crowd

[lindaruffell]

I read somewhere "Niches are like bathrooms; you will never notice one until you need it!"

You have to create a niche. The ability to create a niche is a sure shot way to financial success.

You got to do a lot of research and identify your prospective customers. People want products and services that cater to their personal needs. Niches fill specific customer needs. Research will help you identify consumers you and your competitors probably have failed to notice.

[triumph]

I agree to a degree you need to create a niche, or at least create your own space in an already existing niche. What I mean is you may find an existing niche, but then broaden it out with your own ideas and expertise and stake out your own claim to an untapped area.

[Melos]

And I would like to add that there is almost a niche for anything! Making it a little different from the others, or being alone in your field is the tricky part.

[giewiz]

I would have to agree with 2 & 5 being the most important. But the most effort and thought would be in Nr. 5

Advertise, Adverstise and then Advertise some more.

Larry

[Stanley]

Have a S&M Plan is just the beginning.

I have seen too many people wanting to start their own businesses but they lack the follow through. The biggest hurdle for them is to pick up that phone to make a call to a potential customer.

No communication= No business

[Stanley]

Originally Posted by Melos

And I would like to add that there is almost a niche for anything! Making it a little different from the others, or being alone in your field is the tricky part.

I agree with you. I would also like to point out in this era, that niche disappears within a year.

[Alan]

I compiled a few key resources for my own business plan and blog recently that might be of help to some.


http://www.spoiltchild.com/pinstripe...-business-plan

[mustardseed]

Creating a new market for a new product is no small task. The key is the marketing campaign. The following elements are essential:

- Need for the product must be established in the consumer's eyes.
- Desire must be envoked
- Trust in the product's quality must be established
- Example of usefulness must be redundantly established.

No one wants to be the first to venture out into the unknown. Most people are generally followers.

Anyway, just a quick two cents