As with the seven questions for the strategy summary, there are seven basic sections or elements of a marketing plan:
 The Benefit to the consumer
 Your positioning in the marketplace: Just what business are you in?
 Your target market
 Your marketing / advertising strategy and positioning
 Your marketing budget
 The tool and techniques (weapons) you will use to reach your audience
 A month-by-month implementation schedule

In this article we will look at Positioning and Your Target Market.

Positioning
It’s much easier to be successful in business when you have created a product or service that the public actually wants (and not necessarily – needs). Positioning is easy – find a need (niche) and fill it.

The most difficult part is determining what the product or service that the consumer will line up for.

First determine the product or service you plan to offer. If you’re going to open a liquor store, don’t say “liquor store”, instead say a “Gourmet wine cellar and upscale liquor cabinet, located in bucolic village of Fallbrook”.

List the features your product or service will offer that will differentiate you from your competition (just how many liquor stores are there):
Low cost / high scoring wines Top of the line Liquors
Wine tasting classes Liquor & Food Parings
Wine & Food Parings Ultimate in service
“No Wine Snobs Allowed”

Now identify the advantages and benefits (go back to Part 2) of your product or service, are your benefits that much more than your competitors?

Target Market
Once you have determined your benefits, the by definition you have virtually identified who your product is for – your Target Market. Now stratify your market further. Using the above example – if you said “Alcohol drinkers”, try again. Create the market in your mind and then fill a need they will have:

Upscale clientele                                                         High discretionary income
Discriminating taste in wine & liquors                    They are still cost-conscious
Don’t want to go all the way to San Diego              A fun & casual approach to Wine

Now you have a market and it time to test your thinking, do a focus group, etc. Test, Test and Test some more until you have your niche completely identified.

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