Advantages and Disadvantages of a Marketing Plan

Advantages and Disadvantages of a Marketing Plan A well-written, comprehensive marketing plan is the focal point of all business ventures because marketing describes how you plan to attract and retain customers. This is the most crucial aspect of a business. Having a marketing plan is essential to any successful business. In fact, it is the heart of the business and the basis from which all other operational and management plans are derived. Marketing can give inventors a wealth of information that, if applied correctly, can virtually ensure your success. Therefore, it is important that you, as a first-time business owner, develop a comprehensive, effective marketing plan. If you need assistance in accomplishing this task, contact your local SBA office. You can find them by looking through the local telephone directory under U.S. Government for the telephone number and address of the office nearest you. You can also get that information by going to the U.S. Small Business Administrations website and entering your zip code in the section local assistance.   An effective marketing plan will certainly boost your sales and increase your profit margins. You must be able to convince customers that you have the best product or service for them at the best possible price. If you cannot convince potential customers of this, then you are wasting your time and money. This is where the marketing plan comes into play, and this is why it is so important. There are numerous advantages you can extract from the marketplace if you know how. And the marketing plan is an excellent tool for identifying and developing strategies for putting these advantages to work. Business Advantages Identifies needs and wants of consumersDetermines demand for a productAids in the design of products that fulfill consumers needsOutlines measures for generating the cash for daily operations, to repay debts and to turn a profitIdentifies competitors and analyzes your products or firms competitive advantageIdentifies new product areasIdentifies new and/or potential customersAllows for testing to see if strategies are generating the desired results Business Disadvantages Identifies weaknesses in your business skillsCan lead to faulty marketing decisions if data isnt analyzed properlyCreates unrealistic financial projections if information isnt interpreted correctlyIdentifies weaknesses in your overall business plan Review Its always good to review what goes into a marketing plan. Write down what you can remember on a blank sheet and then compare it to this quick fact sheet. The marketing plan offers numerous advantages; however, as you can see, there can be drawbacks. Keep in mind that the advantages outweigh the drawbacks and you can always seek professional assistance when you are developing the marketing section of your business plan. It may be worth the investment.

Farther vs. Further

Farther vs. Further Farther vs. Further Farther vs. Further By Mark Nichol Is there any difference between farther and further? Merriam-Webster’s online dictionary notes in a usage discussion that as an adverb, farther and further are used indiscriminately when literal or figurative distance is involved: â€Å"How much farther do we have to go?† â€Å"It’s just a mile further.† â€Å"How much further do you want to take this argument?† â€Å"I’ve taken it farther than I want to already.† However, in adjectival form, a distinction has developed regarding use in these senses: â€Å"My house is the farther of the two.† â€Å"She needs no further introduction.† But dictionaries are descriptive; they describe not how people should use language, but how they do use it. However, language maven (and therefore prescriptive) Bryan A. Garner, in Garner’s Modern English Usage, advises, â€Å"In the best usage, farther refers to physical distances, further to figurative distances,† and I agree: Popular usage demonstrates just that popular usage and the careful writer maintains distinctions that enrich the language. (Write eager when you mean eager, for example, and anxious when you mean anxious.) Farthest and furthest, by extension, should maintain the same distinct meanings; use these forms in favor of the burdensome farthermost and furthermost. Furthering and furtherance are interchangeable noun forms that serve as synonyms for promotion or advocacy; there is no equivalent noun form for farther. Further is also employed as a modifier, as in â€Å"Further, I see no reason to delay the proceedings†; furthermore is a variant. Farther, however, does not fit this role. This Daily Writing Tips post from a former contributor has a somewhat different take; as always, consider what you read here (and there) a springboard (or two) for farther I mean further research to help you make up your mind about how you write. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:How to Format a US Business LetterRunning Amok or Running Amuck?30 Nautical Expressions