The Marketing Plan section of the business plan demonstrates how a company will penetrate the market with its products and services. In order to do so, these plans have to have the right combination of a strong, skilled management team, outstanding business model, excellent prospects for a high rate of return on the investment, and relatively low risk (in the sense that those things which commonly can lead to business failure have been anticipated, and minimized).
Since the scope of the business plan is to describe not only the business logic behind the commercialisation plans, but also the assets and resources that will make the business successful, the definition of a strong intellectual property (IP) protection and management policy and the business planning exercise are strongly interconnected.
In this section, you’ll want to provide a summary of your overall marketing strategy and details on how you plan to implement it. Present it as a kind of executive summary by writing a couple of paragraphs that give a synopsis about your overall approach.
You can see how the superior plan is clearly the best in most situations in that it allows for flexibility, plans for the expected and the unexpected, and allows you to spend more time enjoying the trip, knowing that you have all of your bases covered.
They should also include benchmark comparisons to other companies in your industry – things like revenues per employee, gross margin per employee, gross margin as a percentage of revenues, and various expense ratios (general and administrative, sales and marketing, research and development, and operations as a percentage of total operating expenses).