Steps involved in marketing plan are:
(1) Business situation analysis:
'Where we have been?' – is the question responded to as the first step in designing the marketing plan.
I have completed my MBA from a reputed institute in India.
I have experience in this field for 10 years and I have been quite successful and completely understand the needs of the customers.
(2) Identify the target market:
For a new venture, it's very essential to define clearly the specific group of potential customers whose needs the enterprise aims to fulfill. The target market in this case are teenagers.
(3) Conduct SWOT analysis:
It is important for the entrepreneur to consider in the 'target market' his/her enterprise's:
(a) Strengths (b) Weaknesses (c) Threats (d) Opportunities
Strengths: I am already in the field of fastmoving consumer goods which gives me knowledge about various aspects
Weakness: I might not be able to concoct the right combination to satisfy the needs of the customer.
Threats: There is lot of competition already in the market
Opportunities: There is market for chocolates in the country