How do you want to be perceived in the marketplace

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Reference no: EM132700814

In this you have to fill the market plan template.

Attached a word document template of Market Plan. Kindly fill the word document.

Opening a "Wine Way" Tourism business, so this template should be based on this.
For the Previous part are below.
- New Business Idea
- Business Rational
- New Business Design

Part 1 Define your brand

A strong brand is the foundation for your company's success. To build a great brand, you need to be clear about why you're in business and where you want to take your company.
You may find yourself returning to this section to fine-tune and adjust as you work through the full marketing plan and clarify your understanding of your target customers, competition and market opportunities.
What is your vision statement?
This is typically two or three simple sentences that explain what you want to achieve, your core values and how your brand reflects them.
What is your value proposition?
What value does your organization provide to customers that no one else can?
What is your positioning statement?
How do you want to be perceived in the marketplace?

Part 2 Identify your customers

The purpose of a business is to create and keep a customer. This makes understanding customers the top priority of any business.
Further reading: How to boost sales: Start by knowing your customer
Your top three personas
Create three personas or imaginary individuals. They should correspond to the most important customer segments you want to attract. For example, a coffee shop near a university might be going after students, parents of young children and the local business crowd.
Your personas will help you visualize the customers you are targeting and develop brand messages and marketing tactics that will resonate with them.

Part 3 - Understand your competitors

You must understand what your competitors are doing and how their products or services stack up against yours. Analyze your competitors' websites, product documents, brochures and catalogues. Talk to their customers about their needs. And don't overlook the opportunity to learn more by talking directly to the competition.
Further reading: How to conduct your own low-cost research on the competition

Where are they located?

How long have they been in business?

What are their target markets?

What are their unique selling points, competitive differentiators?

What are their strengths, weaknesses?

Part 4 Analyze your business

Now it's time to take a hard look at your own business. You do this with a classic SWOT analysis-defining your Strengths, Weaknesses, Opportunities and Threats.
Strengths
What characteristics does your business possess that give it an advantage over others?
Weaknesses
What places your business as a disadvantage versus others? Address these weaknesses immediately.
Opportunities
What conditions or situations in the marketplace or in your competitors' offerings could you exploit to your advantage?
Threats
What conditions or situations in the marketplace, or activities by your competition, could work against you?

Part 8 - Monitoring, measuring and improving

You're ready to craft a unique selling point (USP), a description of what makes you distinct in the marketplace.
A USP must articulate a compelling and decisive advantage you have over the competition. Consider writing your USP as an "only statement" as in: "We are the only business in the city/the country/the world that does X." Refer to your vision, values and positioning statements in Part 1.
Further reading: Tips on finding your unique selling point and Why differentiation is the key to small business success
What is your USP?

What is your elevator pitch?
Further reading: Your elevator pitch: How to present your business in 60 seconds

Succinctly explain who you are and what you bring to the market that no one else does.

Attachment:- Marketing plan template For WIne WayTourism.rar

Reference no: EM132700814

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