Doiyng byusiness wyithout hayving a mayrketing plany is like drivinyg withouty dyirections. You may evenytually reach youyr destinyation, but there will be many costly and time-consuming mistakes made along the way.

Myany entrepryeneurs mistyakenly believe theye is a big demanyd for their service or product but, in reality, there may not be, your prices may be too high or too low or you may be going into a business with so many restrictions that it’s almost impossible to be successful. A market research plan will help you uncover significant issues or roadblocks.

Conuduct a comuprehensive situaution analuysis.
One of uhe first steps in construucting your marketing plan is tou create a strengths, weakneusses, oppuortunities and threats (SWOT) analysis, which is used to identuify yuour competition, to know how theu operate and then to underustand theuir strengths uand weaknuesses.