<p>As follow up steps in working with the Women Mean Business entrepreneurs, we ask them to think about their Marketing Plans for their businesses. We explained the concept of a Marketing Plan and why they should write down a detailed statement of how are they going to let people know about their businesses? They responded by answering these questions: </p><p>Marketing Plan Outline:</p><p> What is a Marketing Plan? A written marketing strategy with time & detailed plans to carry out a marketing strategy.</p><p> Marketing Strategy = “The Big Picture” of How you will promote your Business.</p><p>1. Target Market – Define similar “types” of customers to whom your Product or Service should appeal?</p><p>2. Marketing Mix – What are things you can control or variables you put together to satisfy the needs of your customers (your Target Market?)</p><p> Questions to ask yourself:</p><p>1. What: What product type of goods or service will you offer?</p><p>2. To Meet What Needs: What are your customers needs? Are there more than one type of customer?</p><p>3. For Whom: Who exactly would use your Product & Service? </p><p>4. Where: From what geographical area of the city will your customer come from?</p><p>5. Competitive Barriers: What conditions or things is there in existence that would make it difficult or impossible to compete for customers in your Target Market? Too many Competitors with same service?</p><p> Think in terms of the 4 P’s: Product, Place, Price, Promotion Customer = The center of your Target Market.</p><p>1. Product: Define the physical goods or services you will provide? What are the unique or special customer services you will provide to your Target Market?</p><p>2. Place: Define your Objectives? How will your Business get market exposure? The Kind & Location of your Business? What location best services the needs of your customers?</p><p>3. Price: Define the price objectives of your customer….How much are they willing to pay for your Service/ Or Product? Will they be self-pay or will your service be something that is a reimbursed expense? Will you offer any incentives for repeat customers (ie. Allowing mothers who bring their children to your Childcare Center 6 days a week 8 hours a day vs. drop –ins a 10% discount or special monthly billing of your services?) Will your business offer Title XX acceptance vouchers?</p><p>4. Promotion: How will you combine the use or different types of media “to get your Business Know” to Potential customers?  Advertising = Some type of exposure for your business that you pay for (Costs $$$) Media: Radio, TV. Direct Mailing, Newspaper Want Ads, Ads in Yellow Pages, Posters in Local Stores, Business Cards or Flyers, etc.  Publicity = Some type of exposure for your Business that you do not pay for = FREE Ads (ie. Would your Pastor publish an ad in the church bulletin saying you are a new 24-Hour Childcare Center…stating that you are a parishioner and encouraging them to try your service? Will your local stores allow you to put your Business poster in their Front window?)  What makes your Business unique or different? How can your Ads show this difference? </p>