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Fundamentals
What's Meant by a Strategic Plan Importance of an Effective Title Page Executive Summary Market Research Gather facts about the Prospective Business Objectives: How to set targets Tactics and General Strategies How to Assess the Idea
Plan Documentation
Making a Practical Marketing Plan Production Planning Financial Planning: Profit Planning Human Resources Plan: Creating a Winning Team Outsourcing Plan Time Plan: Use Time Effectively Export Plan: Sell to the World Planning Session: Design for Victory
Keys to a Successful Plan
Causes of Failure Planning Problems Solved Strategic Plan Templates High Speed Plan Development Seven Paths to Success Training an Assistant
Checklists & Marketing Plan
Starting a Business: Personal Questions Facts, Payout and Tactics Financing Your Business Small Business Administration Marketing Your Plan Winning Special People

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Market Research

We have to learn as much as possible regarding the market that the business in supplying

its goods/ services to.

Consider the following aspects of good market research:

Most failed projects occur through ignorance.
Most successful people credit knowledge of the market as a key element in improved performance
Most failures occur directly as a result because management are too impatient to gather necessary information
Major mistakes or bad guesses regularly ruin firms
As a general statistic management is right only 50% of the time
Four out of five new ventures fail.
Many managers guess at facts to prove their superiority (Management ego)
Market facts protect investments and jobs
Knowledge is power
The cost of getting information is much less than the cost of business failure

Your best sources are either in your company or very close at hand. Outside sources frequently cost very little.

Your marketing, sales, advertising, market research or public relations people. They should be able to fill in at least half of the information required.
Other inside people include supervisors, colleagues and other employees.

Outside sources include:

Trade associations and journals (they prepare market and industry surveys and data, often in great detail, free for the asking).
The SBA, which has three major groups, each with large amounts of information. First, SCORE or the Service Corps Of Retired Executives. Second, SBI or the Small Business Institute: graduate students who do research for $6,000 - this is free to you. The SBDC or Small Business Development Centers, located at all major American universities. SBDC use professors, graduate students and advance electronic equipment to provide information at low cost or no cost to you.
The local library that usually has considerable published information on various industry.
The U.S. Department of Commerce
Local management consultants
Outside research organizations.

Market Research Form

Company:

Address:

Who are our present customers:

Who are our potential customers:

Who are our best prospects:

Second best:

Third best:

Prospect location:

Prospect trends:

Prospect opinion:

Likes and preferences:

Gripes and dislikes:

Who are our competitors:

Who's the competitor to beat:

How good are they:

Their strengths:

Their weaknesses:

Their opportunities:

Their tactics:

Their products:

Their price:

Their package:

Their Promotions:

Their physical distribution:

Their personal selling:

Their PR and advertising:

What are we selling:

What are our superiorities:

What do are competitors teach us:

What customer wants do we produce:

What customer benefits do we provide:

What can we do to improve:

What do prospects say about us:

What is the total $ market:

What trends - What's our potential

What are good market segment opportunities:

What causes industry growth:

What seasonality:

What share do we have: - Our sales trend:

What is needed to build share:

What are the keys to success:

When do customers buy:

When plan client programs:

When produce product timeline:

What are the best places to sell:

What is the best geographic area:

Why do customers buy:

Our 8 Ps (Market related facts)

Our product:

Our price:

Our package:

Our promotions:

Our premiums

Our physical distribution:

Our personal selling:

Our PR and advertising