Strategies for a Successful Marketing Plan - BusinessTown

Learn how to start a business today...

With our best-selling course Start-a-Business 101.

Strategies for a Great Marketing Plan

 Strategies for a Successful Marketing Plan

The first step in any marketing plan should be evaluating the entire potential market for each product category:

  • How large is the potential market?
  • How many people or businesses are currently using the product of any firm competing in this category?
  • How many prospects have potential use for the product?
  • Is the market growing, flattening, or shrinking?

Generally, a growing market is more desirable. Not only is there great sales potential, but also it is usually easier to enter and build sales in a growing marketplace than it is to supplant competition in flattening or shrinking marketplaces.

For very small firms, however, a large market can be a double-edged sword. On the positive side, of course, there is the potential for huge sales. Negatively, though, larger firms with established access to marketing channels and better financing may be tempted to enter such an attractive marketplace. Firms already involved in the particular industry may devote considerable resources to defending or increasing their current market share.

Almost All Markets Have Some Major and Distinctive Segments

Even if a market isn’t currently segmented, it probably carries that potential. In the case of large national markets, it is often very difficult for a small firm to be competitive unless the market is segmented.

Segmentation can come about in many ways. Often several types of segmentation are evident. Markets can usually be segmented by price and quality points. But price and quality issues may not form the clearest and most precise definitions of segmentation within a marketplace. Reasons for strong segmentation are most often found through an examination of product use and the benefits consumers derive from product use.

For example, the personal automotive car market may be thought of as being divided into station wagons, sedans, pickup trucks, minivans, and sports cars. Each of these segmented categories may be further divided by price and quality.

Within the luxury sedan segment, for instance, a change in the pricing or quality of pickup trucks would have no competitive impact because the potential consumer for a luxury sedan isn’t weighing a decision between purchasing a sedan or a pickup. However, if mid-price sedans are dramatically upgraded in quality, then they may become competition for the luxury sedan market. This happened in the luxury car market in the early 1990s. Offerings from Infiniti and Lexus caught the attention of consumers who had previously only considered the more expensive cars manufactured by Mercedes, BMW, and Jaguar.

Closely Evaluate Typical Target Consumers

There are countless possible behavior patterns to consider. Try to focus on the patterns that are most likely to determine the viability of your product in the marketplace. The following is an example of questions to consider:

  • What type of product features most appeal to these consumers?
  • How are choices made between competing products?
  • How much disposable income do the target consumers have to spend on this product?
  • How do these consumers reach decisions to purchase a particular product?
  • Are these consumers typically presold on a brand before they visit a store, or are they impulse buyers?
  • Which promotional vehicles does the consumer view most often?
  • How are the consumers geographically situated?
  • What activities do these consumers most like to engage in during their leisure time?

Make a Clear Distinction Between the Features of Competing Products and the Benefits to Consumers of Those Features

For example, years and years ago cars for a while featured very high “tails” on the end of the car. The feature has absolutely no impact on performance whatsoever, except it added a couple of pounds of extra weight to the vehicle. The benefit to the consumer was that it made the car more stylish, and specifically made buyers feel better about themselves by being perceived as more stylish.

Pay close attention to how strong the consumer benefit is from a particular feature. A careful evaluation of the intended product benefits will help you and others ascertain the correctness of the product positioning. You should be able to determine whether individual features are worth the cost to manufacture and whether they will provide a foundation for building promotional and advertising programs. To find more great marketing news check out Market Monkey.

Just because you have an existing sales force do not assume your current sales channels are appropriate for a new product. For example, the positioning of your product within its market segment may affect how the product should be sold. Let’s say you decide to position a new line of modular office systems as a premium product, complete with design consultation, targeted primarily to larger corporations. A highly trained, experienced, and knowledgeable sales staff, eager to visit customers’ offices for face-to-face presentations, would be crucial.

On the other hand, if your strategy is to sell economy office partitions to very small businesses at a low mark-up, then you could not afford an outside sales staff. While your inside sales group should be friendly and helpful, there would be little benefit in hiring higher-paid, design-oriented sales personnel.

If your positioning plan for a new product suggests the need for a new means of selling, you may want to reconsider the positioning plan. Ask yourself whether you can afford the extra cost and energy required to sell a premium or specialized product.

Advertising and Promotions: Start with Your Strengths

Your product positioning statement, along with an analysis of its strongest competitive features and consumer benefits, is a basic starting point in developing advertising and other promotional plans. For example, if you are starting the only all-business radio station in town, you may simply turn your basic positioning statement into your main advertising message: “WBUS: the only all-business radio station in town!” If your consumer analysis reveals that your targeted listeners are often driving in their cars, the same simple message might work well on outdoor billboard advertising. If your consumer analysis indicates that your intended audience commutes to work by train, subway, or bus, a transit ad campaign might be an appropriate way to impart your message effectively.

Alternately, you may learn that businesspeople really like the current stations they tune into to receive news. In this case, you may need to emphasize more specific features inherent in your broadcasting. You might want to play up the frequency of stock reports, investment advice, or business interviews that are a part of your format. To relay detailed information, it may be more appropriate to place Internet ads on local business websites or print ads in publications.

You might find that businesspeople aren’t clear on what the benefits would be to them if they were to tune into your station. In this scenario, you might want to develop an ad campaign with a tagline such as “the station for the well-informed executive.” You might run your ads during televised broadcasts of business programs. The ad might feature a businessperson getting praise at the office because he or she was able to disseminate timely news—news first heard on your station!

In short, there are important issues and endless alternatives to consider, from choosing advertising and promotional mediums, to developing message themes, to writing copy.

Marketing Plans Can Have a Boomerang Effect

If your marketing plans result in sharply declining market share for your competitors, then you need to be prepared for their reaction. For example, if you introduce a new product or service with great fanfare at a lower price than that of your competitors, then you may trigger a price war. This may culminate in the elimination of all but the strongest, most competitive, and best-financed firms. The victims may include you!

How can you avoid a competitive reaction that might backfire on you? Don’t compete on price. Instead, try targeting a small niche within your marketplace that is not directly targeted by your competition. If you can, stay away from mature, stable markets with clearly defined competitors.

Try to think like your competition before you implement any marketing strategies. How would you react if you were an existing firm and a competitor came out with a new, improved, or lower-priced product that had the potential of chipping away at your consumer base and, ultimately, profitability?

Decide whether or not it would be beneficial to the success of your business to alter your product, your pricing, or your unique selling proposition. Determine whether you should go full speed ahead with your plans. If you do so, be at the ready for the expected competitive reaction.

A Marketing Plan Should Include Focus on the Longer Term

If your plan succeeds:

  • Will it help you realize the long-term strategic goals of your firm?
  • Will you be able to build up long-term strengths in critical areas of your business operations?
  • What effect will this particular product-marketing plan have on other products and services offered by your company?
  • Will there be logical related or follow-on products that can be developed and/or offered if this product release is successful?

No Marketing Plan Is Complete without a Projection of Profitability

This is different than your annual plan for the entire business. The marketing plan should isolate every major expense relevant to a product, including an allocation of common expense items such as overhead.

You will, of course, need to carefully project a sales forecast. This forecast should realistically reflect all of the other factors detailed in this plan, including market size, sales of competing products, competitive factors, product features and benefits, and your promotional and advertising plans.

Sometimes firms discover during the development of a sales forecast that the product’s price is too low to clear a good profit. You will need to decide, at this point, whether the market would be receptive to a higher-priced product or a product with fewer features and benefits. Or, sometimes, the product makeup and price can remain the same and expense cuts can be made in the advertising or promotional budgets without affecting sales potential.

Takeaways You Can Use

  • Evaluate markets, segments, consumers, and competitors.
  • Distinguish between features and benefits.
  • Develop your product positioning statement.

Bob Adams

Bob Adams is the founder of BusinessTown the go-to learning platform for people starting and running their own businesses. Bob has started dozens of successful businesses, including one he launched with $1500 and sold for $40 million. He also has an MBA from Harvard Business School.


Start-a-Business 101

Learn how to start your own business.

Start-a-Business 101 is a complete program for starting your own business.

  Find a great business idea. You’ll get my 6-step method for finding a great business idea. Plus you’ll get my insight on hundreds of proven, money-making businesses that you can start.

 Turn your idea into a profitable business. I’ll take you through every step of starting a business from finding your idea, to turning it into a solid business model, to making your first sales.

 Attract customers without spending a lot of money. You’ll get a ton of my free and low cost ways to land customers. From simple “guerilla” marketing tactics to the latest in digital marketing, I will show you every way imaginable to pull in customers on a shoestring budget. 

 Start small and grow as fast as you want. I’ll show you how you can start small, even part-time if you prefer, and build a highly successful business. You don’t need a lot of time or resources – but you do need to make the right decisions on key issues – and I’ll show you how to do it.

 Get proven strategies and insider advice. You’ll get the exact same methods I used to build one business after the next. I’ll tell you how to avoid problems. And I’ll show what to do at each step of the way, to start your business right.

 Try it risk-free for 60 days. You can try the whole course and then decide if it’s right for you. If you don’t love it, I’ll give you a 100% refund.

 You so inspired me that I started a business and have started receiving orders. Your videos about how to pick a business to start really got me going after I followed your steps to a tee. Thanks so much!

Bill Bennett – Business Owner

Start a business you love, earn more money and live the life you want. With Start-a-Business 101 you can…

Be your own boss. Enjoy true independence and be the star of your own show. Work when and where you want.

Start a business you love. You’ve got one life to live – so why not start the business of your dreams? I’ll show you exactly how to do it.

Make more money. Use my proven strategies to earn the highest profits possible and make a lot more money than you could at a 9-to-5 job.

Start-a-Business 101 is perfect for you…

If you don’t have an idea yet.

Start-a-Business 101 includes the proven 6-step method for finding a great idea. Plus you’ll get hundreds of proven, money-making ideas.

If you have an idea but are not sure where to start or what to do.

In Start-a-Business 101, you will learn exactly how to start your own business from start to finish. You will have access to dozens of videos, worksheets and templates that will walk you along the way.

If you want to make sure that you are doing things right.

Start-a-business 101 covers all the common mistakes that entrepreneurs make when getting started. No room for errors, you will learn how to start your business right.

If you want to get guidance and know exactly what to do at any given time.

Follow my step-by-step process that will get you on your way to business success. It will be like having a business coach by your side at all times.

If you want to start any size business or any type of business.

Start-a-Business 101 will help you start any size of business from a one person home-based business to a larger business. And it will work for any type of business including all service businesses, product businesses and Internet businesses.

If you want to become a knowledgeable entrepreneur.

By watching just one video lesson a day, you will quickly become a knowledgeable entrepreneur. You will be ready to start your own business now or at any time in the future.

Hi there, I’m Bob Adams.

I’m a serial entrepreneur and self-made multimillionaire.

I’ve started dozens of successful businesses of all types and sizes including … bike rentals, house painting, employment service, retail business, multimedia company, book publishing, tourist maps, job fairs, Internet businesses, software business, employment advertiser, and used boat sales. 

Most of these businesses I started in my home on a very small budget. 

My biggest success is my book publishing company that I started in my basement apartment with just $1500 and later sold for $40 million. 

I’ve learned what really matters in business. I’ve discovered the concepts that make or break businesses. And I’ve used them to build one successful company after the next. 

Now, my mission is to share what I learned with you – so that you can succeed in your own business. 

That’s why I created Start-a-Business 101.

Success = recipe + ingredients

In Start-a-Business 101, you will get my exact recipe and ingredients for success. I will show you what to do at every step in starting a business. 

You’re not going to go through years of trial and error. 

You won’t have to make mistakes or learn anything the hard way. 

Because the recipe for business success is waiting for you in my course, Start-a-Business 101

In this course you will get the same proven strategies and tactics that I used to create my successful businesses.

My books and courses have been featured in…

Start-a-Business 101 will show you exactly what to do at each step of starting your business.

You will get proven strategies, real-life examples, ready-to-go templates, checklists and worksheets to help guide you along and save you time. 

You won’t have to guess what you should do next or if you are doing things right.

 You will be following the best advice available today. 

You will be getting the same techniques and strategies that I used to build one successful business after the next including the one I started with $1,500 and sold for $40 million. 

You will put your startup on the fastest and most proven path to success.

Here’s the course for your new business journey. Beginning entrepreneurs will hugely benefit from Start-a-Business 101. The videos clearly explain each element of building a new business. The advice is savvy and on point throughout. I highly recommend it for anyone involved in any kind of startup.

Rick Williams – Managing Director, Williams Advisory Partners LLC

Learn at your own pace and on any device

All devices

You can access Start-a-Business 101 on all your devices, including your computer, your tablet and your smartphone.

Instant access

Get instant access to the entire course, including all the video lessons, all the tools and the discussion board.

Learn at your own pace

Watch just one video lesson per day and you will complete the whole program in about 10 weeks. Or you could even binge watch the entire course in one weekend. It’s up to you!

Full lifetime access

You can access the entire course as long as you want and as many times as you want. For example, you could go through the entire course to quickly build your entrepreneurial knowledge. Then you could go back to specific lessons as you are working on various aspects of your business.

Watch the overview video

 I found great value in the BusinessTown courses. The program is comprehensive, covering everything…It’s like having a team of experienced advisors available 24 x 7.

Dan Sterling –  Founder, Water Hero

Start-a-Business 101 gives you everything you need to start your business.

Rock-solid advice

You will learn my proven strategies and tactics for starting your own successful business.

Easy to follow videos

You will be guided step by step through the whole process by 76 short and easy to follow videos. 

 Business tools

You’ll also get 46 downloadable templates, worksheets and samples to guide you along.

  Start-a-Business 101 Course Content

1.  How to get started with your business

2.  Discover hundreds of great business ideas

3.  How to choose the best business idea for you

4.  How to validate your business idea

5.  Find the perfect name for your business

6.  How to choose the best legal entity for your business

7.  How to create a powerful competitive advantage

8.  How to create your business plan

9.  How to do your accounting and financial statements

10.  How to get the money you need to start your business

11.  How to create your marketing and attract customers

12.  How to build your online marketing presence

13.  How to make sales and land your first customers

14.  The Small Business Toolkit

15.  The Discussion Board

Every step of the course is filled with videos and companion tools to show you exactly how to start your business.

Start-a-Business 101 includes 46 templates, worksheets, checklists and samples

These tools will save you a lot of time, keep you organized and further guide you along the way to launching a successful business as soon as possible.

Fill-in the blank templates make it easy to plan your business.

Watch sample videos

Looking for a business idea? Discover the critical questions that you must ask to find the very best idea for you.

Learn how to create a one page business plan – the most important document for starting your business.

Learn how to find the best customers for your business.

Discover how to create a unique sales message for your business.

   Having run across your videos was a godsend to me. Your method provides me the structure I need to be successful. I am willing to put in the work to go through your complete course which so far has been incredibly helpful.

Phyllis Marks – Starting an Online Business

Will Start-a-Business 101 work for me?

This course is made for you:

  • If you want to generate a new income stream.
  • If you don’t have a business idea yet but want to be your own boss.
  • If you have an idea but are not sure how to get started or what to do first.
  • If you are ready to get started but want to make sure you are doing things right.
  • If you want guidance from someone who has done it before – multiple times.

Start-a-Business 101 will work for all types of businesses. And it will work for all sizes of businesses from one-person home-based businesses to larger enterprises.

Don’t have an idea yet? No problem. I will give you my 6-step process for quickly finding a great business idea. Plus I’ll show you hundreds of my best, money making business ideas, along with my insight on each one.

Wondering how to turn your idea into a profitable business? I will show you how to do it – every single step of the way.

You will learn how to plan your business, how to get the money to get started, how to do marketing, how to do accounting, how to make sales, how to set up your website and much more. You will have access to all my tools – including worksheets, case studies, checklists and templates – that will save you time and money.

I can promise you that you will get the very best strategies and ideas available today. You will get the exact techniques that I used to build my businesses, including the one I sold for $40 million.

Still skeptical? I get it. Sometimes you have to see it to believe it.

I got you covered. You can take this whole course completely risk-free.

You can test drive the entire course for 60 days.

That’s right. You can have full access to the whole course for 60 days. If you decide it’s not for you, or if you don’t love it, I’ll give you a 100% refund. No questions asked.

I can’t promise you that your business will absolutely succeed. No one can.

But I can promise you that I will give you the very best strategies and ideas for every step of starting your business.

And I stand behind that with my 60-day, 100% money-back guarantee.

I want you to start a business. And I want you to start it right.

 I have researched the marketplace for over a month to identify a viable and comprehensive ‘go-to’ guide on how to best launch a small business. This course offering from Bob Adams met more than what I was looking for.

Steve Cox – Experienced Businessman

Get Start-a-Business 101 and get $750 in bonuses – free

I am pleased to tell you that I am adding two limited time bonuses to Start-a-Business 101

These bonuses will make it even easier and quicker to get your own business up and running. 

The Ultimate Checklist to Starting Your Own Business 

This 18 page checklist will show you exactly what to do to start your business.

This extremely comprehensive 18 page document includes all the steps to start a business. Plus I give you my expert advice on every single step. 

This checklist will keep you totally organized and make sure that you are not missing anything important. 

This checklist is the ultimate shortcut in getting your business up and running. It will be your constant companion in starting your business. The checklist has a $500 value but I will give it to you as one of my welcome gifts for joining Start-a-Business 101.

How to Launch a Business Fast and on a Tight Budget Using MVP

Use this video to start your business fast and on a tiny budget.

The second bonus is a game-changing video/lesson. In this video/lesson I will teach you the concept of Minimum Viable Product, or MVP. 

You will learn how to start your business faster and for less money, than any other way possible. 

This important video/lesson has a $250 value but I will give it to you as one of my welcome gifts for joining Start-a-Business 101

So consider joining Start-a-Business 101 now if you want to get these limited-time free bonuses – a $750 value.

 Bob has been a close friend and trusted business adviser of mine for years… guiding me through the challenges we all face as entrepreneurs. Hands down Bob is one of the most talented, and successful entrepreneurs I know. Thanks Bob!

Matt Marshall – Founder, MGM Capital Investments

Frequently Asked Questions

When does the course start and finish?

This online course is completely self-paced – you decide when you start and when you finish.

How long do I have access to the course?

After enrolling, you have unlimited access to this course for as long as you like – across any and all devices you own.

What if I am unhappy with the course?

If you are unsatisfied with the course for any reason, please contact us within 60 days and we will give you a full refund, no questions asked.

What are the course requirements?

This course is for anyone thinking about starting a business. You don’t need to have any previous business experience whatsoever. Even if you have business experience, you will discover a vast amount of powerful new ideas that will help propel your business ahead.

Can I download any of the content?

Of course! All the worksheets, case studies, samples, and templates are downloadable.

Start a business you love, earn more money and live the life you want.

Start-a-Business 101 is the fastest and easiest way to learn how to start a business and become a knowledgeable and successful entrepreneur.

Start-a-Business 101 is a complete proven program that will take you step-by-step through your entire startup journey.

You will get…

  Easy-to-follow videos

  Ready-to-use tools

  Discussion board

  Inside advice

  Proven strategies

  Complete lifetime access

In just a few minutes a day, you will learn how to start your own business.

You can test drive the entire course for 60 days.

That’s right. You can try Start-a-Business 101 risk-free for 60 days. You will have full access to the entire course. If you decide it’s not for you, or if you don’t love it, I’ll give you a 100% refund. No hassles. No questions asked. I want to help you succeed in your own business.


Start-a-Business 101

Learn how to start your own business.

Full Lifetime Access 

60-Day 100% Money-Back Guarantee

Only $19.95

Start-a-Business 101 is only open for a limited time.

Get on board now if you want to make sure you don’t miss out.

Questions? Email

Copyright © 2019 BusinessTown LLC. All rights reserved. BusinessTown ® is a registered trademark of BusinessTown LLC.