Why Business Planning is Necessary
If you are starting a new business, you will launch a new product or you are looking to expand, you need a business plan.
Maybe you don't have time to sit down, plan and strategize, additionally business planning may seem complex and daunting, that's when the perspective of a business consultant can help you.
Global Impetus Consultants develop business plans which help you to guide your company. This plan is essential to seek funding, partners or investors. But while financial and economic aspects are fundamental, a business plan should not be limited to economic calculations and numbers. Quantitative information should be supported by commercial, strategic proposals for operations and human resources.
It's proven that businesses with developed written plans have a greater chance of success.
The marketing plan, a key part of an overall business plan
Marketing provides the means by which the company or business presents itself to its audience, and also how it interacts and behaves in the market. It's fundamental, therefore, that the organization's philosophy and core values are referenced and reinforced by every aspect of marketing.
A smart marketing strategy is prescribed when launching a new product or expanding locally, regionally, or globally and it has to answer questions like these:
- What prices should be set?
- What are the product trends and customers' preferences?
- What is your product's competitive advantage?
- What marketing strategies does competence use?
- Where should you prioritize your efforts?
- What kind of distribution is most suitable?...
But, above all, don't forget that quality of your products and services is always the best business plan.