If you are an entrepreneur seeking capital for a new business, then you will need a business plan and in this business plan the potential investor if they are savvy will be most interested in the marketing aspect of your business.

Below is a sample of a “marketing strategy statement” and identification of the target market. In this example we are discussing an oral hygiene product, that was invented by Charles Shooster in the 1990s. This is a good case study because, first it is a real product being developed and two, because it is a mass-market consumer item. Please read the below sample in the “rough draft” form:

MARKETING STRATEGY

Our marketing strategy is simple; we will avoid the high-costs of buying shelf space at the major retailers and allow them to come to us or go around them. Our goal is to sell massive amounts of products, but without the insane up-front capital costs to develop instant brand recognition in the consumer market. We run hard and run to win, and watch the cash flow.

Target Markets

We see many target markets and yet are not naïve enough to believe that we will not discover more in route, as this is a given. Right off the bat we see the following obvious target markets and have generated a strategy to secure orders from each of these industries:

• Restaurants
• FEMA*
• Red Cross*
• US Military*
• NASA Astronauts*
• Third World NGOs*
• Organic Food Stores
• Camping Supply Catalogs
• Airline Food Package Vendors
• Multi-Level Marketing Online Catalogs**
• Vending Machines (Bus Terminals, Airports and Travel Centers)

* Under separate and modified logo

** Secondary market to consider

Of course, there are key segments of our population, which will be more apt to buy our products and the packaging, online demonstrations, and sales material will indeed reflect this. For instance singles, seniors and mothers. Using a web-based ordering strategy we see synergies with AARP and Online Dating Sites. In fact, there are 100s of potential co-branding opportunities for the Teeth Wipe Company.

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If you are not serious about defining your target market then your proforma will be off target by miles. It is okay to design a rough draft statement for your target market in the first rough draft of your business plan, understanding that as you work through the planning process you will further refine the exact target market. I hope you have learned something in today’s lesson. God’s Speed and Continued Success in creating the perfect first draft of your business plan.