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Imagine that you have just created what you think will be the next big thing. You have managed to patent it and secure any necessary
Imagine that you have just created what you think will be the "next big thing." You have managed to patent it and secure any necessary copyrights, and you are lining people up to work with you. The only thing you have not figured out is exactly how you are going to sell this. You have the idea and you have the prototype, but who will buy this and how will you reach them? It is time to develop a marketing plan. As much as you think your product or service will sell itself, a successful marketing plan is what is really going to make it happen. The most effective marketing plans are those that are most complete and consist of all the most appropriate elements. This means including all of the following: A product/service summary A strengths, weaknesses, opportunities, and threats (SWOT) analysis A target market analysis Marketing objectives A marketing mix analysis, implementation, and evaluation Individually, these pieces might be enough to get people interested, but bringing them together effectively is what turns interest into purchase. Your marketing plan needs to have clear goals and objectives and a well-developed understanding of the strengths and weaknesses of your product or
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