simu q4 exam

Preparing a Marketing Plan

*Marketing Plan
 -A business document outlining your marketing strategy and tactics
 -Often focused on a specific period of time -- for over the next year, for instance -- and includes variety of marketing factors including costs, goals, and action steps

	*Sample:
	 A. The product or Service Offering
	 B. The Value Proposition & Unique Selling Proposition
	 C. The 7Ps of Marketing [Marketing Mix]
		1. Product
		2. Place
		3. Price
		4. Promotion
		5. Packaging
		6. People
		7. Process
	 D. Sales Forecast

*Product or Service Offering
 -Value that the business will give to a customer

	*Strategic marketing efforts are made based on the nature of the product or service that'll be offered
	*Marketing strategy influences the target customers' decision-making process

*Value Proposition [VP]
 -Definitive statement which promotes the benefits or value that a product or service can cater to the customers

*Unique Selling Proposition [USP]
 -Statement that promotes the most compelling attribute of a product or service and what makes it different from the rest