Whether you are planning on starting a new business or expanding an existing one, you need to ask yourself: Where am I? And where do I want to be? And how am I going to get there?To answer these questions you will need to develop a marketing plan, the most important tool you can use to develop that competitive advantage your business needs to survive.Develop a Mission Statement
Every business has a purpose and this is one of the most important aspects when developing marketing strategies for your home based business. A mission statement is a simple and clear statement outlining the purpose and direction of your business. Every decision the business makes should be based on its mission statement.Analyze the Market and Competition
What makes your marketing strategies for your home based business special, and gives you a distinct competitive advantage over your competition? How do your customers see your business and how does your product or service relate to others in the marketplace.Strategic Market Planning
Strategies are the planned action plan you are going to take to meet your objectives. You must have strategies for operations, pricing and promotion in your marketing plan. These strategies will be used to convince customers that your product or service is better than you competitor’s product or service.Promotion
Advertising is another critical component of marketing strategies for your home based business. Advertising is your way of communicating your message to your target market. How and when to promote your business or service are decisions that will depend on your budget.Budgeting & Keeping Track
When preparing your marketing budget your decision should be based on: The company’s resources and financial position as well as the businesses goals and objectives and your target marketAction Plan
Decide who is going to do what, to carry out the marketing plan. Set completion dates for planning and evaluating your marketing strategies for your home based business.Evaluate
Monitor, Change and Evaluate your marketing plan often to ensure that your company goals and objectives are being met.Marketing affects everything about your business, small things like your business cards are part of your marketing plan and smart marketing puts money in the bank.Next, continue learning more marketing tactics and marketing strategies for your home based business. By visiting my website located at: http://www.internetmarketing101.ca