Definition[ edit ] A marketing plan is a comprehensive document or blueprint that outlines a business advertising and marketing efforts for the coming year. It describes business activities involved in accomplishing specific marketing objectives within a set time frame. A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals.
A marketing plan for a catering business outlines the process the business plans to go through to promote the catering services and land catering customers.
A catering business marketing plan includes information about the target audience, the business brand, the goals, the competition and the budget the catering business can devote to its marketing efforts.
Building knowledge in these areas and putting a written marketing plan in place helps a catering business to attract the right potential customers and the opportunity to convert the prospects into paying catering clients.
Identification of Target Audience Identify who the buyers of your catering services are. The target audience for your business may vary according to the food offerings, experience and know how of the caterer.
For example, a catering business that provides only the finest French cuisine markets to a different crowd than one that specializes in economical homestyle foods. Understanding who your audience is, how they think, what they feel and the needs they have can help you to offer the catering services they seek and to reach them with your marketing efforts.
Branding The marketing plan should contain the brand image of your catering business. The brand you build directly correlates to your target audience. A catering business needs to develop a reputation for high quality, tasty dishes, punctuality, strong customer service and varied menu choices, among other things.
The image built of the business through promotions and advertising should reflect the aspects that are the most important to the audience you are targeting in your business. Create Goals And Plans Defined goals and the detailed route you plan to take to reach your catering business goals are an essential element of the marketing plan.
Goals can be somewhat simple or large-scale, but should be specifically, detailed in the plan. The plans to reach these goals affect the promotion and advertising choices you make in the catering business.
For instance, a catering business may specify a goal to be the primary resource for large conventions in the local area. The plans to reach that goal may include advertising to local convention centers, providing food for smaller conventions and asking for referrals and inquiring about upcoming conventions taking place at local sites and contacting the event coordinators directly.
Get to Know Competition In developing the image and creating marketing ideas, it is important for a catering business to be aware of the competition. The marketing plan should evaluate the strengths of the competition, as well as its weaknesses. Using this information, the catering business will build its image by maximizing its own strengths while improving upon the weaknesses of the competition.
Budget The financial aspect of the marketing plan pertains to the budget set forth in the written marketing plan. Allocate a portion of the catering business income to pay for the marketing and advertising efforts.
The first year in business typically requires a higher marketing expenditure than latter years because you have establish your catering business as the business to turn to for catering needs.
In later years, a catering marketing budget is typically 5 percent to 10 percent of business revenue. The budget covers print and online advertisements, television advertisements, catering organization memberships, newsletters for vendors and clients, direct mail pieces, brochures, website development and other marketing efforts.The Cambridge Strategy Group portfolio is designed to provide targeted marketing and management services to small businesses.
From helping entrepreneurs define their business plans to improve their chances for obtaining venture funding, to creating concrete marketing deliverables to promote their /5(68). What is a marketing plan and why is it so essential to the success of your business?
Find out here, in the first section of our comprehensive guide to creating a marketing plan. Marketing is a form of communication between you and your customers with the goal of selling your product or service to them. Communicating the value of your product or service is a key aspect of.
The management process through which goods and services move from concept to the srmvision.com includes the coordination of four elements called the 4 P's of marketing: (1) identification, selection and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development .
Marketing for Financial Advisors: Build Your Business by Establishing Your Brand, Knowing Your Clients and Creating a Marketing Plan 1st Edition. In this edited excerpt, the authors explain the simple steps involved with creating a marketing plan for your new business.
Everyone knows you need a business plan, yet many entrepreneurs don’t.