A Marketing Plan is a Must

A well-created marketing plan can provide you with a road map to build and sustain your brand’s identity.

At its most basic level, a marketing plan consists of defining your positioning statement, outlining your advertising and communications strategy, specifying an environmental branding strategy—and creating a budget. If this sounds a bit daunting, you probably need to solicit some help from a marketing expert. But before you make that decision, it can’t hurt to do a little research on your own. Begin by thinking about the companies and brands that naturally attract your attention. Try to identify the common elements in these advertising and communications strategies. In other words, what are the common themes that engage you? You can learn from your competition. Study the messages they’re communicating—and then do it better.

Kathleen Murphy is founder and president of MurphyEpson, Inc., a marketing consulting firm in Columbus, Ohio. She is in the business of counseling her clients about different types of marketing tactics, and she knows that a good marketing plan is essential. Because Kathleen’s company started with a clear marketing plan, she was able to create the company she envisioned, but beyond that, she is able to help other companies achieve success as well. Whether you’re writing a complex, multi-tiered marketing plan or you’ve decided to take a more basic approach, the important thing is to create a plan. Then, like Kathleen, you’ll be ready to move forward with a road map that will build and sustain your brand’s identity.

Marketing and branding are my specialties. To learn more, go to Life Lesson 11 in Real You Incorporated: 8 Essentials for Women Entrepreneurs.