【正文】 venience, whether or not public transportation is accessible,the safety aspectsstreet lighting, well lit parking lot orfacility, decor, etc. Your location should be built around yourcustomers, it should be accessible and should provide a sense ofsecurity. An advantage of purchasing a franchise is the franchisor oftentimes assist in site selection and decorating. * Develop Pricing strategy pricing techniques and brief description of these techniques retail costing and pricing petitive position pricing below petition pricing above petition price lining multiple pricing service costs and pricing (for service businesses only) service ponents material costs labor costs overhead costsAlthough your pricing strategy may be based on the strategy devised by others, you should study this plan and the strategiesused by petitors. That way you will acquire a thoroughunderstanding of how to price your product or service, and you can determine if your prices are in line with petitors, if they are in line with industry averages and what adjustments youcan make to bring them in line.The key to success is to have an wellplanned strategy, toestablish your policies and to constantly monitor prices andoperating costs to ensure profits. Keep abreast of changes in themarketplace because these changes can affect your bottom line.* Develop an effective Promotional Strategy advertising media print media (newspaper, magazine, classified ads, Yellow Pages advertising, brochure) radio television networking business cards tee shirts, hats, buttons, pensDevelop a promotional strategy that uses various media forpromoting your business. Monitor the different media identifyingthose that most effectively promote your business. Concentrate ondeveloping material for these formats that clearly identifies your goods or services, its location and price.Since financial institutions weigh the soundness of your marketing plan when deciding whether your business is a good riskfor their money, it is important that you prepare and presentcredible market data that shows there is a need in the munityfor your business and that demonstrates your ability to petesuccessfully._________________________________________________________________SELFPACED ACTIVITYDuring this activity you will: * Make an outline of the information a marketing plan should contain. MARKETING YOUR BUSINESS FOR SUCCESS THE MARKETING PLAN: ITS ADVANTAGESAND DISADVANTAGESA wellwritten, prehensive marketing plan is the focal point of all business ventures because it describes how you plan toattract and retain customersthe most crucial aspect of abusiness. And why are customers so important? The answer is simple. They ultimately are the means by which you will generatethe ine needed for daily operations, to repay debts and to turn a profit. In essence, the customers are your life line and the marketing plan is the pipeline that allows you access to them ., to fulfill their needs and expectations. The marketing plan is essential to any successful business. It isthe heart of the business, the basis from which all otheroperational and management plans are derived. Marketing offers you a wealth of information that if applied correctly virtually can ensure your success.Therefore, it is important that you, as a firsttime businessowner, develop a prehensive, effective marketing plan. If youneed assistance in acplishing this task, contact your local SBA office. Consult the local telephone directory under .Government for the telephone number and address of the officenearest you.Advantages/Disadvantages of Developing a Marketing PlanAn effective marketing plan will certainly boost your sales andincrease your profit margins, which is the goal of every businessowner. It is a milepost down the road to success and, as such, care and time should be put into its development. You must be able to convince customers that you have the best product orservice for them at the best possible price. If you cannot convince potential customers of this, then you are wasting yourtime and money. This is where the marketing plan es 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 forextracting these advantages.A few of the advantages are outlined below. The plan: * identifies needs and wants of consumers * determines demand for product or service * aids in design of products/services that fulfill consumers needs * outlines measures for generating the cash for daily operation, to repay debts and to turn a profit * identifies petitors and analyzes your firm39。 however, as you can see, there can be drawbacks. Remember, however, the advantages outweigh the drawbacks, so seek professional assistance when you are developing the marketing section of yourbusiness plan. It will be worth the investment.__________________________________________________________________ SELFPACED ACTIVITYDuring this activity you will: * Identify and list the advantages and disadvantages of developing a marketing plan.MARKETING YOUR BUSINESS FOR SUCCESS OUTLINE FOR A MARKETING PLANElements of a Marketing PlanI. Description of the Target Market age sex professio