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4

What’s Your Position?

Now that you have calculated your best price, refined your place of delivery and sketched promotional ideas, you are better able to develop a brand strategy. Your brand strategy includes tag lines and logos, as well as a plan for how you will reach potential customers.

 

Business Plan

– Branding, Promotions, CSR (optional)

This section addresses how the business creates awareness among potential customers for its products/services. This is an opportunity to elaborate on the business’ planned promotional activities (e.g., Networking, direct selling, cold calls, daily newspapers, magazines, community newspapers, Yellow Pages, brochures, radio, TV, trade shows, PR, Facebook, Twitter, YouTube, etc.).

Include a description of the media/medium mix the business leverages (rank-ordered, in chart form), and an explanation of how each medium will be used. Provide a rationale on why the chosen mix is appropriate, based on market research and the target market’s degree of usage and trust in the mediums selected. Estimate costs for Years 1 and 2.