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Marketing
Your marketing plan is a key component of your business plan. Once
you have laid the groundwork for your business, including organizing
and financing, it is time to turn your energies toward marketing.
Marketing involves nearly everything that has to do with
the sale of goods and services, from researching the competition to
production, service, delivery, and pricing.
Effective marketing does not have to be complex. When
considering marketing it is helpful to think of it in terms of the "4
Ps" - product, price, promotion and position.
- Product refers to the merchandise or services you
are selling.
- Price takes into account such things as labor and
overhead costs, profit, competitive pricing and customer perception.
- Promotion, involves the plan for publicizing your
product or service.
- Position refers to a number of different factors,
including location, shipping, warehousing and distribution.
For sample marketing plans:
To research your market, refer to Demographics
& Economic Data.
For technical assistance in writing your market plan contact
your local New York
State Small Business Development Center or an Empire
State Development
Entrepreneurial Assistance
Program (1-800-STATE NY).
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