📈 Session 5: Marketing Strategies, Objectives, & Tactics

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🔍 Overview

In this session, participants will focus on developing a comprehensive marketing plan that synthesizes insights from previous sessions. The goal is to create a strategic roadmap that effectively reaches target customers, communicates the brand’s value proposition, and drives business growth.​

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🧠 Learning Objectives

• Integrate Market Research: Utilize findings from market analysis to inform marketing strategies.
• Define Marketing Goals: Establish clear, measurable objectives aligned with business goals.
• Develop Marketing Strategies: Craft strategies that encompass product, price, place, and promotion.
• Plan Marketing Tactics: Outline specific actions, timelines, and budgets for marketing activities.

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📝 Pre-Session Assignments

1. Review Previous Sessions: Revisit notes and assignments from Sessions 2–4 to gather relevant information.
2. Draft Marketing Goals: Prepare a list of 2–3 marketing objectives for your business.
3. Analyze Competitors: Update your competitor analysis with any new insights or changes in the market.​

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📄 Business Plan Focus

During this session, you’ll complete Section V: Marketing Plan of your business plan, which should include:​

• Target Market Summary: A concise overview of your ideal customer segments.
• Unique Selling Proposition (USP): A clear statement that differentiates your product or service.
• Marketing Mix (4 Ps):
  • Product: Description of your offerings.
  • Price: Pricing strategy and rationale.
  • Place: Distribution channels and locations.
  • Promotion: Promotional tactics and channels.
• Marketing Budget: Projected costs for marketing activities.
• Metrics for Success: Key performance indicators (KPIs) to measure marketing effectiveness.​

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📚 Additional Resources

• Marketing Plan Template – SBA
• How to Create a Marketing Plan – HubSpot
• Creating a Marketing Budget
• Measuring Marketing Effectiveness – Forbes
• 5 Ways Entrepreneurs Can Enhance Local Communities
• Five Simple Marketing Strategies For Your Startup (forbes.com)
• How Marketing Mix Can Help Small Businesses Grow (funded.com)