Page 50 - MICROHUB Handbook - ENGLISH

Since a marketing plan is a subset of a business plan, particularly
covering those key business elements that are focused on the

interaction with the market, the Business Planning Canvas is also a

useful starting point and base for devising a marketing plan. The latter

will need to revolve around the 4Ps of the marketing mix - Product,

Placement, Promotion, Price - by including information on:

· Product - the features and benefits of the offered product or range

of products, particularly in terms of the added value that it provides in

addressing specific customer problems (needs, wants, fears) as
compared to other available alternative and substitute products;

· Placement - detailed description of the target markets and

customer segments, the order of priority they should be approached in

(including the rationale for such choices based on market analysis), and

the various channels to be used for the sale and delivery of your

products to the target markets and customers;

· Promotion – the various channels and activities planned to

facilitate product awareness among the target customers, the

evaluation of the product compared to alternatives and substitutes, and

ultimately its purchase/sale.

· Price – detailed description of the pricing strategy to be
implemented across the entire product range and various target

customer segments, including rationale for such pricing

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