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This section follows on from 6. Profiles of Target Markets and presents your proposed marketing strategies and detailed sales plans and projections. Devote up to three-six pages for this section.

In simple terms, you need to cover the 4Ps - product, price, place and promotion - and compile detailed revenue and marketing cost projections for inclusion in the 11. Financial Projections.

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7.1. Marketing Strategies & Sales Plans

How will your business market its products/services and sell them to customers? What are the key market entry/development strategies?

Indicate plans and forecast costs for marketing, selling, promotion, advertising, representation etc.

How will your products be presented to customers? Discuss packaging, physical distribution, sales support and product support and forecast the related costs.

Explain pricing policies and credit terms (be realistic !). What discounts will apply and to whom? Will there be bad debts and what provisions should be made?

What will be the end-user prices? Assess the competitiveness of your business's offerings in terms of price, quality, features etc. at the level of sales outlets or end-users.

How will you deal with the competitors? How will they respond? What are the contingency plans in the event of sales targets not being fully realized?

7.2. Sales Projections

Based on the market projections in 6. Profiles of Target Markets and marketing strategies described above, set out detailed sales (volumes and prices) projections for your various segments and products/services. These projections should be monthly (for at least one year ahead especially if the business is seasonal) and either quarterly (much better) or annual thereafter.

Use simple tables and charts to present key data - relegate the detail in appendices.

Table generated using Exl-Plan, business financial planner. Taken from Exl-Plan's Textual Summary Report.

Chart generated using Exl-Plan, business financial planner. Taken from Exl-Plan's Textual Summary Report.

Finally, review your marketing and sales plans and ask how confident are you that the projected sales levels and market shares will be achieved. If in doubt, develop and (briefly) present alternative scenarios and approaches.

Additional Help
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The Exl-Plan range of Excel-based financial planners can be used to generate detailed sales forecasts and related cost budgets as part of the process of developing fully-integrated financial projections (income statements, cashflows, balance sheets etc.) for up to seven years ahead.

The Plan Write Market Planner is very suitable for developing a detailed marketing and sales plan to complement a business plan. The Plan Write Business Planner and Plan Write Expert Planner both contain extensive sections devoted to the marketing and sales aspects of a business plan.

The Quick Insight software package is an expert system for evaluating business proposals. It could help assess your position relative to competition and identify possible strategies. The more powerful and sophisticated Business Insight will allow you to explore your market position and analyze the competition in considerable detail as a precursor to devising and testing possible marketing strategies.

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