• Online Degree Explore Bachelor’s & Master’s degrees
  • MasterTrack™ Earn credit towards a Master’s degree
  • University Certificates Advance your career with graduate-level learning
  • Top Courses
  • Join for Free

What Is a Marketing Plan? And How to Create One

Learn what a marketing plan is, how they help businesses, and the steps for building yours.

[Featured image] A woman in a blue shirt shows a marketing plan on a whiteboard to a group.

What is a marketing plan?

A marketing plan is a document that a business uses to execute a marketing strategy. It is tactical in nature, and, as later sections of this article explore, it typically includes campaign objectives, buyer personas, competitive analysis, key performance indicators, an action plan, and a method for analyzing campaign  results.  

What is the purpose of a marketing plan?

In general, a marketing plan serves several purposes: 

Streamline and organize marketing efforts 

Guide businesses and their marketing teams through a sequence of marketing activities 

Determine how to measure a campaign’s success  

Effectively allocate the marketing campaign budget  

A business might develop a marketing plan for a specific need, campaign, or goal within its larger mission. Here are some examples: 

Launching a new product or service

Carrying out campaigns through different marketing channels, including social media , email marketing, print media, TV, or offline events  

Implementing paid advertising 

Measuring marketing efforts over specific periods of time, such as every quarter, six months, or year

Marketing plan vs. marketing strategy vs. business plan

In researching what a marketing plan is, you may come across the related concepts of marketing strategy and business plan. Think of all three as written roadmaps for developing your business. You’ll find similarities among them, including your business objectives and information on your target market, but there are some important differences to know as you build these roadmaps, as we’ve laid out in the chart below. 

Review these roadmaps periodically to measure the success of your marketing and business efforts. 

How to create a marketing plan 

The following sections describe the components of a solid marketing plan and the steps to building each one. Develop each section in the order listed, and use insights from each section to guide your process in the ones that follow. Once you complete all of the sections, review your entire plan for areas that need refining. 

1. Executive summary

Here, you will write a short summary, usually no longer than a few paragraphs, to introduce the sections that follow. In a few paragraphs, orient readers to the following:

General information about the business, such as its mission, past accomplishments and setbacks, and brand identity

Information specific to the marketing campaign driving this plan and how it will advance or improve upon past marketing efforts 

You might choose to compose this section last, after you’ve written and refined the marketing plan as a whole. 

2. Marketing campaign goals 

Borrowing from your marketing strategy and business plan, state the marketing campaign's goals with specificity and data-driven metrics. For example:

 Specify “get more email subscribers” as “increase email subscribers by 50 percent by next quarter.” 

“Generate more online purchases” could be specified as “Drive traffic from paid Facebook ads to a sales page and increase the site’s conversion rate from 2 percent to 5 percent.”

3. Key performance indicators (KPIs)

KPIs are the specific metrics you’ll monitor to measure the success of your marketing efforts. It’s important to determine KPIs so that you can continually optimize your tactics, reduce inefficiencies, and steer your marketing campaign toward success.  

KPI examples include:

 The number of website visitors

The number of new email subscribers

The number of event registrants 

The rate of converting leads into customers

Sales revenue figures

4. Buyer personas 

Refer to your marketing strategy and business plan to crystalize target market insights into detailed buyer personas. You can think of a buyer persona as a fictional character that you create based on your existing customers and extensive market research. Building clear buyer personas helps to focus your marketing efforts and drive campaign results. 

Answer these questions to get started:

What is this persona’s demographic profile, including age, income, location, occupation, etc? 

Where do they go to find information? 

What keywords do they use to search?

How do they prefer to purchase products and services?

At what times of the day are they most likely active on social media or other marketing channels, online or offline?

What words, phrases, and questions do they use to describe their challenges and goals?

Use answers to tailor every detail of your marketing campaign to your buyer persona and guide potential customers toward an action, such as subscribing to your email list or making a purchase.

5. Competitor analysis 

Refer again to your marketing strategy and business plan to extract key information about how competing brands are reaching customers in your target market. Then, examine competitors’ marketing strategies in more detail.

Here are three ways to generate marketing-specific information about competitors:

Use SEO tools like SEMRush to discover how your competitors are leveraging popular keywords, content, and ad copy to attract an audience.

Study competitors’ social media accounts and note the content they post to engage followers. 

Subscribe to competitors’ email lists to learn how they market and sell to potential leads right in their inboxes. 

6. Action plan 

Your campaign’s action plan should include the specific tactics and methods you’ll use to market your products and services to potential customers. 

Include the following information in your action plan:  

The campaign budget and target date of completion

Key milestones you need to pass on your way to achieving the goals 

The marketing channels you will use, offline and online 

The kinds of content you will create and your schedule for delivering it

Organic and paid marketing activities

7. Method of analyzing results 

Your marketing plan should describe how you will monitor KPIs and analyze your campaign results at each milestone. That way, you can find out what’s working and what’s not and adjust your plan accordingly. 

Be sure to set up analytic tools for each of your marketing channels, including your social media accounts, email system, website and landing pages, and event registration pages. Set calendar alerts based on your action plan for reviewing KPIs.

Which channels see the most traffic?

Which channels are converting at the highest rates? 

How are individual pieces of content performing?

How efficiently is your budget performing?

Which metrics are improving, staying the same, or declining over time? 

Marketing plan key takeaways

Remember: Having a solid marketing plan can make it possible to allocate your marketing budget effectively and streamline your marketing activities. By following the seven steps above, you may be able to see improvements in your marketing efforts, from attracting more ideal customers to inspiring them to take action. 

Improve your marketing with Coursera

One way to become a skilled marketer is to take online courses and practice the latest strategies. Learn which web analytics tools are right for you, how to use them to analyze data, and more in the Digital Marketing Specialization or with Meta Social Media Marketing Professional Certificate .



Digital Marketing

Drive Customer Behavior Online. A six-course overview of the latest digital marketing skills, taught by industry experts.

(16,529 ratings)

32,913 already enrolled


Average time: 8 month(s)

Learn at your own pace

Skills you'll build:

Digital Marketing, Marketing, Pricing Strategies, Marketing Mix, Product Strategies, Data Collection, Analytics, Data Analysis, Data Visualization (DataViz), Marketing Analytics, Marketing Performance, Marketing Channel, Social Media, Mobile Marketing, Integrated Marketing Communications, Content Marketing, search marketing, Brand Communication, Marketing Plan, Search Advertising, Marketing Performance Measurement And Management


professional certificate

Meta Social Media Marketing

Launch your career as a Social Media Marketer. Build job-ready skills for an in-demand career and earn a credential from Meta. No degree or prior experience required to get started.

(14,347 ratings)

205,619 already enrolled

Average time: 7 month(s)

Performance Advertising, Digital Marketing, Brand Management, Social Media Marketing, Content Marketing, Marketing, Social Media Marketing Strategy, Content Development, content management, Marketing Content Development, Campaign Management, Ad Management, Meta Ads Manager, Meta advertising, Marketing Optimization, Digital Analytics, Marketing Strategy, Communication, Ads Manager

Related articles

What Is Content Marketing?

Digital Marketing: What it Is and How To Get Started

13 Key Marketing Skills to Boost Your Resume

9 Marketing Podcasts for Beginners and Pros: 2022 List

Market Analysis: What it Is and How To Conduct One

This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals.

Develop career skills and credentials to stand out

Coursera Footer

Learn something new.

Popular Career Paths Articles

Popular Resume & Cover Letter Articles

Popular Interviewing Articles


5 Steps to Create an Outstanding Marketing Plan [Free Templates]

Rebecca Riserbato

Published: March 16, 2023

Free Marketing Plan Template

marketing plan for new business model

Outline your company's marketing strategy in one simple, coherent plan.

Thank you for downloading the offer.

Do you take a good, hard look at your team's marketing strategy every year?

Person makes a marketing plan for their business

You should. Without an annual marketing plan, things can get messy — and it's nearly impossible to put a number on the budget you'll need to secure for the projects, hiring, and outsourcing you'll encounter over the course of a year if you don't have a plan.

Download Now: Free Marketing Plan Template [Get Your Copy]

To make your plan's creation easier, we've put together a list of what to include in your plan and a few different planning templates where you can easily fill in the blanks.

To start, let's dive into how to create a marketing plan and then take a look at what a high-level marketing plan has inside.

In this article, we're going to discuss:

How to Create a Marketing Plan

Fill out this form to access a free marketing plan template.

Marketing plan outline.

marketing plan outline

Download This Marketing Plan Outline for Free

The below marketing plan outline will help you create an effective plan that easily generates buy-in from stakeholders and effectively guides your marketing efforts.

Marketing plans can get quite granular to reflect the industry you're in, whether you're selling to consumers (B2C) or other businesses (B2B), and how big your digital presence is. Nonetheless, here are the elements every effective marketing plan includes:

1. Business Summary

In a marketing plan, your business summary is exactly what it sounds like: a summary of the organization. It’s essential to include this information so that all stakeholders, including your direct reports, learn about your company in detail before delving into the more strategic components of your plan. Even if you’re presenting this plan to people who’ve been in the company for a while, it doesn’t hurt to get everyone on the same page.

Most business summaries include:

The company name

Where it's headquartered

Its mission statement

Our marketing plan outline also includes information on marketing leadership, which is especially helpful for companies with large marketing teams.

2. SWOT Analysis

Your marketing plan's business summary also includes a SWOT analysis , which stands for the business's strengths, weaknesses, opportunities, and threats. It’s essential to include this information so you can create targeted strategies that help you capitalize on your strengths and improve upon your weaknesses.

However, be patient with your business' SWOT analysis; you'll write most of it as you conduct your market research and create your strategy. Feel free to come back to this section periodically, adjusting it as you discover more information about your own business and your competition.

3. Business Initiatives

The business initiatives element of a marketing plan helps you segment the various goals of your department. Be careful not to include big-picture company initiatives, which you'd normally find in a business plan. This section of your marketing plan should outline the projects that are specific to marketing. You'll also describe the goals of those projects and how those goals will be measured.

Every initiative should follow the SMART method for goal-making . They should be specific, measurable, attainable, relevant, and time-bound.

4. Customer Analysis

In this part of the marketing plan outline, you get plenty of space to share all the data you collected during your market research . If your company has already done a thorough market research study, this section of your marketing plan might be easier to put together. Either way, try to do your research before synthesizing it in a shareable document like this one.

Ultimately, this element of your marketing plan will help you describe the industry you're selling to and your buyer persona . A buyer persona is a semi-fictional description of your ideal customer, focusing on traits like:

Personal challenges

Triggering event

5. Competitor Analysis

Including a competitive analysis is essential when creating a marketing plan. Your buyer persona has choices when it comes to solving their problems, choices in both the types of solutions they consider and the providers that can administer those solutions. In your market research, you should consider your competition, what they do well, and where the gaps are that you can potentially fill. This can include:


Market share

Our marketing plan template includes space to list out the specific products you compete with, as well as other facets of the other company’s strategy, such as their blogging efforts or customer service reputation. Keep this part of your plan simple — your full competitive analysis should be done separately. Here are a few competitive analysis templates to get started.

6. Market Strategy

Your market strategy uses the information included in the above sections to describe how your company should approach the market. What will your business offer your buyer

personas that your competitors aren't already offering them?

As you fill out the section, use the insights from your SWOT analysis, your competitive analysis, and your market research to create targeted, effective descriptions that will help you secure buy-in for your later tactics and strategies. For instance, if you found that one of your competitors employs stronger social media marketing strategies , you might add “We’ll post 3 times per week on our social media profiles” under “Promotion.”

In our full-length marketing plan outline, the market strategy section contains the "seven Ps of marketing" (or the “ extended marketing mix ”):

Physical Evidence

(You'll learn more about these seven sub-components inside our free marketing plan template, which you can download below.)

Don't mistake the marketing budget element of your plan with your product's price or other company financials. Your budget describes how much money the business has allotted the marketing team to pursue the initiatives and goals outlined in the elements above.

Depending on how many individual expenses you have, you should consider itemizing this budget by what specifically you'll spend your budget on. Example marketing expenses include:

Outsourcing costs to a marketing agency and/or other providers

Marketing software

Paid promotions

Events (those you'll host and/or attend)

Knowing the budget and doing analysis on the marketing channels you want to invest in, you should be able to come up with a plan for how much budget to invest in which tactics based on expected ROI. From there, you'll be able to come up with financial projections for the year. These won't be 100% accurate but can help with executive planning.

Remember: Your marketing plan only includes a summary of the costs. We recommend keeping a separate document or Excel sheet to help you calculate your budget much more effectively. Here’s a marketing budget template to get started .

8. Marketing Channels

Your marketing plan should also include a list of your marketing channels. While your company might promote the product itself using certain ad space, your marketing channels are where you'll publish the content that educates your buyers, generates leads, and spreads awareness of your brand.

If you publish (or intend to publish) on social media, this is the place to talk about it. Use the Marketing Channels section of your marketing plan to map out which social networks you want to launch a business page on, what you'll use this social network for, and how you'll measure your success on this network. Part of this section's purpose is to prove to your superiors, both inside and outside the marketing department, that these channels will serve to grow the business.

Businesses with extensive social media presences might even consider elaborating on their social strategy in a separate social media plan template.

9. Marketing Technology

marketing plan outline: marketing technology

Last, but certainly not least, your marketing plan should include an overview of the tools you’ll include in your marketing technology (MarTech) stack . These are the tools that will help you achieve the goals you outlined in the previous sections. Since all types of marketing software usually need a generous investment from your company’s leadership, it’s essential to connect them to a potential ROI for your business.

For each tool, describe what exactly you’ll use it for, and be sure that it’s a strategy that you’ve mentioned elsewhere. For instance, we wouldn't recommend listing an advertising management tool if you didn’t list “ PPC Advertising ” under “Marketing Channels.”

1. Conduct a situation analysis.

Before you can get started with your marketing plan, you have to know your current situation.

What are your strengths, weaknesses, opportunities, and threats? Conducting a basic SWOT analysis is the first step to creating a marketing plan.

Additionally, you should also have an understanding of the current market. How do you compare to your competitors? Doing a competitor analysis should help you with this step.

Think about how other products are better than yours. Plus, consider the gaps in a competitor's approach. What are they missing? What can you offer that'll give you a competitive advantage? Think about what sets you apart.

Answering questions like this should help you figure out what your customer wants, which brings us to step number two.

2. Define your target audience.

Once you better understand the market and your company's situation, make sure you know who your target audience is.

If your company already has buyer personas , this step might just mean you have to refine your current personas.

If you don't have a buyer persona, you should create one. To do this, you might have to conduct market research.

Your buyer persona should include demographic information such as age, gender, and income. However, it will also include psychographic information such as pain points and goals. What drives your audience? What problems do they have that your product or service can fix?

Once you have this information written out, it'll help you define your goals, which brings us to step number three.

3. Write SMART goals.

My mother always used to tell me, "You can't go somewhere unless you have a road map." Now, for me, someone who's geographically challenged, that was literal advice.

However, it can also be applied metaphorically to marketing. You can't improve your ROI unless you know what your goals are.

After you've figured out your current situation and know your audience, you can begin to define your SMART goals .

SMART goals are specific, measurable, attainable, relevant, and time-bound. This means that all your goals should be specific and include a time frame for which you want to complete them.

For example, your goal could be to increase your Instagram followers by 15% in three months. Depending on your overall marketing goals, this should be relevant and attainable. Additionally, this goal is specific, measurable, and time-bound.

Before you start any tactic, you should write out your goals. Then, you can begin to analyze which tactics will help you achieve that goal. That brings us to step number four.

4. Analyze your tactics.

At this point, you've written down your goals based on your target audience and current situation.

Now, you have to figure out what tactics will help you achieve your goals. Plus, what are the right channels and action items to focus on?

For example, if your goal is to increase your Instagram followers by 15% in three months, your tactics might include hosting a giveaway, responding to every comment, and posting three times on Instagram per week.

Once you know your goals, brainstorming several tactics to achieve those goals should be easy.

However, while writing your tactics, you have to keep your budget in mind, which brings us to step number five.

5. Set your budget.

Before you can begin implementing any of the ideas that you've come up with in the steps above, you have to know your budget.

For example, your tactics might include social media advertising. However, if you don't have the budget for that, then you might not be able to achieve your goals.

While you're writing out your tactics, be sure to note an estimated budget. You can include the time it'll take to complete each tactic in addition to the assets you might need to purchase, such as ad space.

Now that you know how to create your marketing plan, let's dive into creating a marketing campaign outline that will help you reach the goals outlined plan.

Marketing Plan Timeline

Rolling out a new marketing plan is a big lift. To make sure things are running smoothly with all of your projects, you’ll want to create a timeline that maps out when each project is happening.

A marketing plan timeline allows your team to view all projects, campaigns, events, and other related tasks in one place — along with their deadlines. This ensures everyone on your team knows what’s due, when it’s due, and what’s up next in the pipeline. Typically these plans cover marketing efforts for the entire year, but some companies may operate on a bi-annual or quarterly basis.

Once you’ve completed your analysis, research, and set goals, it’s time to set deadlines for your assignments. From new blog posts and content initiatives to product launches, everything will need a deadline. Take into account any holidays or events taking place over the course of the year.

While setting deadlines for the entire year may seem daunting, start by estimating how long you think each task will take and set a deadline accordingly. Track the time it actually takes for you to complete similar types of projects. Once you’ve completed a few of them, you’ll have a better idea of how long each takes and will be able to set more accurate deadlines.

For each project, you’ll want to build in time for:

HubSpot marketing plan calendar tool

One-Page Marketing Plan Template

As demonstrated above, a marketing plan can be a long document. When you want to share information with stakeholders or simply want an overview of your plan for quick reference, having a shorter version on hand can be helpful. A one-page marketing plan can be the solution, and we’ll discuss its elements below.

HubSpot one-page marketing plan template

Include your company name, list the names of individuals responsible for enacting the different stages of your plan, and a brief mission statement.

business summary example

2. Business Initiatives

Business Initiatives example

3. Target Market

Outline your target audience(s) that your efforts will reach. You can include a brief overview of your industry and buyer personas.

Target Market example

This is an overview of the money you’ll spend to help you meet your marketing goals. Create a good estimate of how much you'll spend on each facet of your marketing program.

marketing plan budget example

5. Marketing Channels

List the channels you’ll use to achieve your marketing goals. Describe why you're using each channel and what you want to accomplish so everyone is on the same page.

marketing plan marketing channel example

Free Marketing Plan Template [Word]

Now that you know what to include in your marketing plan, it's time to grab your marketing plan template and see how best to organize the six elements explained above. The following marketing plan template opens directly in Microsoft Word, so you can edit each section as you see fit:

free marketing strategy template

Download your marketing plan template here .

Marketing campaign template.

Your marketing plan is a high-level view of the different marketing strategies you’ll use to meet your business objectives. A marketing campaign template is a focused plan that will help achieve those marketing goals.

A marketing campaign template should include the following key components:

Digital Marketing Plan Template

A digital marketing plan is similar to a marketing campaign plan, but, as the name suggests, it’s tailored to the campaigns that you run online. Let’s go over the key components of a digital marketing plan template to help you stay on track to meet your goals.

Many people use social media in their digital campaigns, and below we’ll discuss some ideas you can use for inspiration.

Social Media Marketing Plan Templates

As marketing departments grow, so will their presence on social media. And as their social media presence grows, so will their need to measure, plan, and re-plan what types of content they want to publish across each network.

If you're looking for a way to deepen your social media marketing strategy — even further than the marketing plan template above — the following collection of social media marketing plan templates is perfect for you:

Download 10 social media reporting templates here .

In the above collection of marketing plan templates, you'll get to fill in the following contents (and more) to suit your company:

Below, let's review the social media reporting templates, and what you'll find in each one.

1. Social Media Questions

Social media publishing analysis and questions

This template lists out questions to help you decide which social media management platform you should use.

Once you know what social media tactics you're going to implement in your marketing plan, it's time to figure out what channels are right for you. This template will help you do that.

2. Facebook Live Schedule

Facebook live schedule template

If Facebook Live is one of the marketing tactics in your plan, this template will help you design an editorial calendar. With this template, you can organize what Facebook live's you want to do and when.

Once you've decided on dates, you can color code your FB calendar and coordinate with your editorial calendar so everyone can see what lives are running in relation to other campaigns.

3. Instagram Post Log

Instagram post log for social media publishing management

Are you going to begin using Instagram regularly? Do you want to increase your following? With this template, you can organize your Instagram posts, so everyone on your team knows what posts are going live and when.

Additionally, you can organize your assets and campaigns on this doc. Use this doc to collaborate with your team on messaging, landing pages linked in your bio, and campaign rollout.

4. Paid Social Media Template

paid social media template for annual budgeting

With this template, you can organize your annual and monthly budget for your paid social media calendar.

You'll want to use this in conjunction with your marketing plan budget to make sure you are not overspending and funds are allocated appropriately.

5. Social Media Audit

Social media audit template

Conducting a social media audit? You can use this template to help you gather the right analytics. Tracking the results of your marketing efforts is key to determining ROI.

Use this template to track each of your campaigns to determine what worked and what didn't. From there, you can allocate funds for the strategies that deliver the results you want.

6. Social Media Editorial Calendar

Social media editorial calendar template

With this template, you can organize your social media editorial calendar. For example, you can include social media posts for each platform, so your team knows what's going live on any given day.

7. Social Media Image Sizes

Social media image size template

With this template, your team can have the latest social media image sizes handy. This template includes image sizes for all major social media platforms, including Facebook, Instagram, and Twitter.

Having a resource like this readily available for your team ensures that everyone is on the same page regarding image sizes and prevents delays.

8. Social Media Marketing Proposal

Social media marketing proposal template

With this template, you can create an entire social media marketing proposal. This will outline the social media goals, the scope of the work, and the tactics that you plan to implement.

Think of this proposal as more of a deep dive into the marketing channel section of your marketing plan.

9. Social Media Reporting Template

Social media report template

With this template, you'll gain access to a slide deck that includes templates for social media reporting. If you plan to implement social media in your marketing plan, these reporting templates can help you track your progress.

If using the social media audit above, you can add all of your data here once it's been collected.

10. Hashtag Holidays

Social media hashtag holidays

These holidays are a great way to fill out your social media publishing schedule. With this template, you'll get a list of all the hashtag holidays for the year.

Once you've come up with content ideas, you can add them to your social media calendar.

Simple Marketing Plan Template

Of course, this type of planning takes a lot of time and effort. So if you're strapped for time before the holidays, give our new Marketing Plan Generator a try.

This tool simplifies yearly planning by asking prompted questions to help guide your process. You’ll be asked to input information about:

Try our free Marketing Plan Generator here .

Once you input all information, the tool will spit out a table (as shown in the image below) that you can use to guide your processes.

simple marketing plan template

Pro Tip: If the tool doesn't work, clear your browser's cache or access it in incognito mode.

Start the Marketing Planning Process Today

The best way to set up your marketing plan for the year is to start with quick wins first, that way you can ramp up fast and set yourself (and your team) up to hit more challenging goals and take on more sophisticated projects by Q4. So, what do you say? Are you ready to give it a spin?

Editor's note: This post was originally published in December 2016 and has been updated for comprehensiveness.

New Call-to-action

Don't forget to share this post!

Related articles.

50 Ideas for Your 2023 Small Business Marketing Strategy

50 Ideas for Your 2023 Small Business Marketing Strategy

The Ultimate Guide to Internet Marketing [Data + Expert Tips]

The Ultimate Guide to Internet Marketing [Data + Expert Tips]

How to Build a Market Development Strategy [Free Planning Templates]

How to Build a Market Development Strategy [Free Planning Templates]

How Marketers Can Still Thrive in a Recession [Data Analysis]

How Marketers Can Still Thrive in a Recession [Data Analysis]

20 Valentine's Day Marketing Campaigns We Love

20 Valentine's Day Marketing Campaigns We Love

31 Influencer Marketing Stats to Know in 2023

31 Influencer Marketing Stats to Know in 2023

5 Marketing Trends That Might Not Survive in 2023 [HubSpot Research]

5 Marketing Trends That Might Not Survive in 2023 [HubSpot Research]

Study Finds Most Marketers Don’t Know Their Audience: Here’s Why and How to Fix It

Study Finds Most Marketers Don’t Know Their Audience: Here’s Why and How to Fix It

7 Steps to Create a Complete Marketing Strategy in 2023

7 Steps to Create a Complete Marketing Strategy in 2023

What is a Marketing Plan & How to Write One [+Examples]

What is a Marketing Plan & How to Write One [+Examples]

100% free crm.

Nurture and grow your business with customer relationship management software.

The Easy Guide to the Business Model Canvas


Got a new business idea, but don’t know how to put it to work? Want to improve your existing business model? Overwhelmed by writing your business plan? There is a one-page technique that can provide you the solution you are looking for, and that’s the business model canvas.

In this guide, you’ll have the Business Model Canvas explained, along with steps on how to create one. All business model canvas examples in the post can be edited online.

What is a Business Model Canvas

A business model is simply a plan describing how a business intends to make money. It explains who your customer base is and how you deliver value to them and the related details of financing. And the business model canvas lets you define these different components on a single page.   

The Business Model Canvas is a strategic management tool that lets you visualize and assess your business idea or concept. It’s a one-page document containing nine boxes that represent different fundamental elements of a business.  

The business model canvas beats the traditional business plan that spans across several pages, by offering a much easier way to understand the different core elements of a business.

The right side of the canvas focuses on the customer or the market (external factors that are not under your control) while the left side of the canvas focuses on the business (internal factors that are mostly under your control). In the middle, you get the value propositions that represent the exchange of value between your business and your customers.

The business model canvas was originally developed by Alex Osterwalder and Yves Pigneur and introduced in their book ‘ Business Model Generation ’ as a visual framework for planning, developing and testing the business model(s) of an organization.

Business Model Canvas Explained

Why You Need a Business Model Canvas

How to Make a Business Model Canvas

There are nine building blocks in the business model canvas and they are customer value proposition, customer segments, channels, customer relationships, revenue streams, key resources, key partners, key activities, and cost structure.

When filling out a Business Model Canvas, you will brainstorm and conduct research on each of these elements. The data you collect can be placed in each relevant section of the canvas. So have a business model canvas ready when you start the exercise.  

Business Model Canvas Template

What are the 9 Components of the Business Model Canvas?

Key Activities

Key resources, key partners.

Let’s look into what the 9 components of the BMC are in more detail.

Customer segments

These are the groups of people or companies that you are trying to target and sell your product or service to.

Segmenting your customers based on similarities such as geographical area, gender, age, behaviors, interests, etc. gives you the opportunity to better serve their needs, specifically by customizing the solution you are providing them.

After a thorough analysis of your customer segments, you can determine who you should serve and ignore. Then create customer personas for each of the selected customer segments.

Customer Persona Template for Business Model Canvas Explained

There are different customer segments a business model can target and they are;

Use STP Model templates for segmenting your market and developing ideal marketing campaigns

Visualize, assess, and update your business model. Collaborate on brainstorming with your team on your next business model innovation.

Customer relationships

In this section, you need to establish the type of relationship you will have with each of your customer segments or how you will interact with them throughout their journey with your company.

There are several types of customer relationships

You can understand the kind of relationship your customer has with your company through a customer journey map . It will help you identify the different stages your customers go through when interacting with your company. And it will help you make sense of how to acquire, retain and grow your customers.

Customer Journey Map

This block is to describe how your company will communicate with and reach out to your customers. Channels are the touchpoints that let your customers connect with your company.

Channels play a role in raising awareness of your product or service among customers and delivering your value propositions to them. Channels can also be used to allow customers the avenue to buy products or services and offer post-purchase support.

There are two types of channels

Revenue streams

Revenues streams are the sources from which a company generates money by selling their product or service to the customers. And in this block, you should describe how you will earn revenue from your value propositions.  

A revenue stream can belong to one of the following revenue models,

There are several ways you can generate revenue from

What are the activities/ tasks that need to be completed to fulfill your business purpose? In this section, you should list down all the key activities you need to do to make your business model work.

These key activities should focus on fulfilling its value proposition, reaching customer segments and maintaining customer relationships, and generating revenue.

There are 3 categories of key activities;

This is where you list down which key resources or the main inputs you need to carry out your key activities in order to create your value proposition.

There are several types of key resources and they are

Key partners are the external companies or suppliers that will help you carry out your key activities. These partnerships are forged in oder to reduce risks and acquire resources.

Types of partnerships are

Cost structure

In this block, you identify all the costs associated with operating your business model.

You’ll need to focus on evaluating the cost of creating and delivering your value propositions, creating revenue streams, and maintaining customer relationships. And this will be easier to do so once you have defined your key resources, activities, and partners.  

Businesses can either be cost-driven (focuses on minimizing costs whenever possible) and value-driven (focuses on providing maximum value to the customer).

Value propositions

This is the building block that is at the heart of the business model canvas. And it represents your unique solution (product or service) for a problem faced by a customer segment, or that creates value for the customer segment.

A value proposition should be unique or should be different from that of your competitors. If you are offering a new product, it should be innovative and disruptive. And if you are offering a product that already exists in the market, it should stand out with new features and attributes.

Value propositions can be either quantitative (price and speed of service) or qualitative (customer experience or design).

Value Proposition Canvas

What Are Your Thoughts on the Business Model Canvas?

Once you have completed your business model canvas, you can share it with your organization and stakeholders and get their feedback as well. The business model canvas is a living document, therefore after completing it you need to revisit and ensure that it is relevant, updated and accurate.

What best practices do you follow when creating a business model canvas? Do share your tips with us in the comments section below.

Join over thousands of organizations that use Creately to brainstorm, plan, analyze, and execute their projects successfully.

More Related Articles


Amanda Athuraliya is the communication specialist/content writer at Creately, online diagramming and collaboration tool. She is an avid reader, a budding writer and a passionate researcher who loves to write about all kinds of topics.

Learning Objectives

By the end of this section, you will be able to:

Now that you have a better idea of what marketing is, you are ready to start developing a marketing strategy and plan. A marketing strategy describes how a company will reach consumers and convert them into paying customers. Having a solid-yet-flexible marketing strategy is a good business practice, no matter what kind of business you are in.

A marketing plan is a formal business document that is used as a blueprint or guide for how a company will achieve its marketing goals. A marketing plan differs from a business plan in that it focuses more on market research, attracting customers, and marketing strategies, whereas the business plan covers much more than that, as you will see in Business Model and Plan .

Marketing plans are important tools because they act as roadmaps for everyone involved in an enterprise. Writing a marketing plan forces you to specify goals and develop strategies to reach them, and encourages you to research markets and competition. A strong marketing plan will encourage entrepreneurs to think deeply about their business and profit potential, helping them make better business and marketing decisions. Additionally, a marketing plan can create greater involvement and cohesiveness among employees by clarifying goals and expectations.

A variety of marketing plan templates are available that can be modified to fit your business’s product and/or services. One thing to consider is why you are writing your plan and who your audience is. In addition to planning for your venture, will it be used by employees or potential investors? Different audiences will require different kinds of information. If it’s an employee, then you must include extra details about the operation of the business. If the plan is geared toward acquiring an investor, be sure to highlight the value that will be gained from investing.

Keep in mind that the various parts of a plan do not need to be written in a certain order. Plans should also be seen as flexible guides rather than absolute rules. All good marketing plans are living, breathing documents that help you measure success while allowing for course corrections when necessary. Table 8.8 provides the standard components of a marketing plan.

Executive Summary

The executive summary is just that—a clear and concise summary of the major points of your marketing plan. Though it is placed first, it is generally written last because it is based on the information presented in other subsequent sections.

The executive summary is typically one or two pages long and includes key indicators of success for the business and its stakeholders, which may include company owners, managers, consultants, investors, and banks. Your goal is not merely to summarize everything in your plan but to highlight why people should be interested in your venture. Whether the reader is an employee or a potential partner or investor, the executive summary should seek to not only inform but to excite.

Focusing on the opportunity at hand, what makes your business model special, and the potential financial reward is a good way to capture a reader’s attention. For example, if your business’ strengths include a great marketing team and a significant competitive advantage, you should highlight them as reasons for success. Some readers may only read this section, so make sure you highlight what makes your company special and how you plan on turning that into profit.

Situation Analysis

In many ways, the basis of your marketing plan is found in your situation analysis , which is an examination of the internal and external circumstances relevant to your business and product. A good analysis will provide the logical support for the strategies you choose. For example, the research you conduct here explains why you will develop a certain product, how you will price it, and what you will do to reach your target market.

Good situation analyses often include a SWOT analysis , which looks at a company’s strengths, weaknesses, opportunities, and threats. They also look at future and current competitors, and include market validation research that has surveyed potential customers. This information is critical because it proves that you have done your due diligence on your product and market.

Marketing Opportunity

Assuming your background research has led you to determine that there is a business opportunity, this is where you explain what and where that opportunity is. For example, if your research led you to discover a gap in the market for educational children’s toys, this is where you explain the depth of the opportunity. Here you use your research as evidence to prove to your reader that there is a market gap and that you know how to fill it. If your goal is to get an investor interested, this is where you would let them know what they stand to gain and when they would gain that.

Link to Learning

The US Small Business Administration strives to help business owners initiate and succeed in developing enterprises. Their website is loaded with helpful information, classes, and templates that can help the entrepreneur navigate the intricacies of marketing, as well as provides helpful tips on developing a marketing plan.

Business Model

In this section, your job is to marry the opportunity you saw with the solution you have created. Here you articulate how your competitive advantage and points of differentiation (nature of the solution and its key features and benefits) will provide value to customers and earn profits that will sustain your business into the foreseeable future. What will you do to create value that attracts customers? How will you generate sales? Who is your target market? If you were opening a gym, this is where you would lay out how you will capture customers, the value they will receive, what types of membership contracts will be available to them, and so on.

A great tool for capturing this information is the Business Model Canvas ( Figure 8.13 ), which is discussed in Launch for Growth to Success and Business Model and Plan . The nine building blocks of this model will help you to determine the targeted customer segment, value proposition that you will present each of your segments, channels for the distribution of the proposition or touchpoints, type of customer relationship you will build with your target, types of cost structures and revenue streams based on pricing means, and key resources, activities, and partners that will help you to succeed.

The canvas also allows the entrepreneur to innovate and to change if something doesn’t work out. The point of this tool is to put the pieces of a plan together. 16

Building blocks of the Business Model Canvas, which include Key Partners, Key Activities, Value Propositions, Customer Relationships, Customer Segments, Key Resources, Channels, Cost Structure, and Revenue Streams.

Marketing Objectives

Here you present your specific goals and their tangible outcomes. It is not enough to say that you will be very successful without defining what exactly success means. The point of this section is to quantify your goals as units sold, sales/revenue, market share, or some other practical metric. Goals can also include creating measurable brand awareness and developing a certain number of distribution channels.

For example, good, measurable goals might be selling 300 units per month, selling $600,000 worth of product in a year, or gaining brand awareness of 10 percent of your target market in three months. Avoid goals that are unmeasurable or vague, as they won’t help you now or later.

No matter what your goals are, they should be reasonably achievable and as specific as possible. The reason for this is so that later on, you can determine whether you have been successful. If you haven’t, you will know something needs to change.

Marketing Strategies

As mentioned earlier, having a good marketing mix will help your business succeed. As an entrepreneur, you want to segment the market and figure out if there are possible pockets of people whom you can serve. The process of segmenting, targeting, and positioning (STP) will help you figure out who is your best customer and allow you to allocate your resources effectively to serve that market.

After going through this process, you can look at the marketing mix, and depending on whether you have a product, service, or a mixture of both, which is usually the case, you will outline your approach to the 7Ps of the marketing mix.

Action Plan

In the action plan, you detail how things will get done in your business on a day-to-day basis, when they will get done, and who will be doing them. Often, new business owners develop extensive strategies, but they don’t have the people power to implement them. Obviously, ensuring that you have the necessary human resources in place to execute your goals is important. This is the section where you make it clear that you do. For example, if you have a marketing team in place, highlighting their ability to execute your plans will help convince potential investors that you can put your plan into action.

Here you include budgets, forecasts, and any other information that will give readers and potential investors a clear picture of your business’s financial situation. Being transparent and truthful will create trust and goodwill between your company and potential investors.

This section is also important because it will help you determine how profitable your business might be. One place to start is by determining your expenses and future profits. Since most entrepreneurs tend to overestimate these numbers, it is best to develop financial projections for best- and worst-case scenarios, as well as a projection for an average case scenario.

Many entrepreneurs develop one-, three-, or five-year projections to get a sense of future profits and to prove that their business model is sustainable over the long run. Figure 8.14 provides an example.

Five-year financial projections for Sammy’s Grocery Store. Sales/Revenue is projected to be $100,000 in 2018, $150,000 in 2019, $170,000 in 2020, $190,000 in 2021, and $198,000 in 2022. Cost of Goods Sold is projected to be $30,000 in 2018, $50,000 in 2019, $55,000 in 2020, $57,000 in 2021, and $60,000 in 2022. Sales and Administrative Expenses are projected to be $40,000 in 2018, $55,000 in 2019, $60,000 in 2020, $60,000 in 2021, and $70,000 in 2022. Depreciation is projected to be $10,000 in 2018, $7,000 in 2019, $8,000 in 2020, $8,000 in 2021, and $10,000 in 2022. Operating Profit is projected to be $20,000 in 2018, $38,000 in 2019, $47,000 in 2020, $65,000 in 2021, and $58,000 in 2022.

Key Performance Indicators

Finally, you need to determine your key performance indicators , or how you will evaluate the effectiveness of your strategies, by looking at the progress you have made during a specific timeframe. These include the quantitative milestones that will tell you if you are on the right track, help you analyze your decision-making process and focus on specific strategies, and make changes if these don’t work.

For example, one of your milestones might be a sales goal of $50,000 within the first six months. If you are not on track by the time you hit this milestone, it can be an indication that you either overestimated your sales or your strategies are not working. In either case, you will need to make actionable steps to revise your projections or find more effective strategies.

As an Amazon Associate we earn from qualifying purchases.

Want to cite, share, or modify this book? This book uses the Creative Commons Attribution License and you must attribute OpenStax.

Access for free at https://openstax.org/books/entrepreneurship/pages/1-introduction

© Dec 12, 2022 OpenStax. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo are not subject to the Creative Commons license and may not be reproduced without the prior and express written consent of Rice University.

Card Accounts

Business Accounts

Other Accounts and Payments

Credit Tools and Support

Personal Cards

Business Credit Cards

Corporate Programs

Prepaid Cards

Personal Savings

Personal Checking and Loans

Personal Financial Management

Business Banking

Personal Travel

Travel Inspiration

Business Travel

Other Travel Services

Benefits and Offers

Manage Membership

Business Solutions

Checking & Payment Products

Funding Products

Merchant Services

American Express Business Class Logo

Related Content

Related topics, why you need a go-to-market strategy.

Shot of a young woman going through paperwork while working from home

Published: May 19, 2023

What’s the best way to launch a new product or enter a new market? A go-to-market strategy provides a step-by-step template for success.

Product launches can be exciting. A successful launch can be a breakout moment for a company, driving new revenue, increasing market share, and setting a business apart from its competitors.

But an unsuccessful launch can do the opposite – wasting valuable resources, losing customers, and potentially giving the firm a bad name. To ensure a product rollout succeeds, a business needs a carefully planned go-to-market strategy.

What Is a Go-to-Market Strategy?

Without proper planning, it’s impossible to know if you’re chasing the wrong audience, are too early to market, or are late in targeting a segment that’s already saturated with similar offerings.

A go-to-market (GTM) strategy helps you avoid these missteps by providing a step-by-step plan for rolling out a new product or expanding into a new market. It helps set you up for success, so you launch your product to the right audience with the right messaging at the right time. Think of your GTM strategy as a blueprint that answers the following questions: 

A comprehensive go-to-market strategy framework will help you get your product into the hands of as many customers as possible as efficiently as possible. In addition to helping you set your product strategy, a well thought-out GTM strategy should include plans for the following:

What’s the Difference Between a Go-to-Market Strategy and a Marketing Plan?

While similar, a GTM strategy is different from a marketing plan. The former details the steps needed to bring a new product to market (or an existing product to a new market); the latter lays out the  requirements for a marketing campaign . A GTM strategy can include a marketing plan, but a marketing plan does not have the scope required to accommodate a GTM strategy.

In addition to laying the groundwork for a successful product launch, a well-conceived GTM strategy can give you a better understanding of your market and competition, while also helping you find ways to reduce costs and build greater brand awareness.

How to Create a Go-to-Market Strategy Template

Developing a powerful and effective GTM strategy can be broken down into six steps:

1. Develop a customer profile.

This is the basic building block for a successful product launch. Ensure the product is a good fit for the market or customer set to which you’re planning to offer it. First, consider the attributes of the target audience you hope to serve, such as the demographics, personal aspirations, and pain points of its members. Then compare those with the benefits of your product or service. If they align well, you have a good product-market fit.

2. Research market demand and the competition.

Before launching the product, be sure there’s sufficient demand to justify the investment and that your value proposition will stand up to the competition. Market research and a competitive analysis will provide the intelligence you need by answering questions, such as: 

3. Determine your messaging.

How will you capture your target audience’s attention and begin moving prospects through your sales funnel? Plan thoughtfully to develop advertising and customer communications messaging to stir customers to action.

Messaging should draw on the customer profile you developed to address your target audience’s pain points, while highlighting the benefits they’ll receive. Of course, it should do this in the catchiest, most compelling way possible and aim to strike an emotional chord with the prospect. If there are different sets of buyers within your target audience, such as various age groups, messaging should be tailored to each group's needs.

4. Choose your marcom channels.

How will you put this carefully-crafted messaging in front of your audience? Will you rely on the web and online advertising, or should print advertising and mailers also play a role? Do you plan to mount a social media campaign? Are billboards a possibility?

The answers to these questions depend on the makeup of your customer set and its media habits. A professional audience, for example, may rely on specialized publications that still come in a printed format. Teenagers and young adults may favor social media.

5. Set a sales plan.

This is where the rubber meets the road. How will you turn your prospects into buyers? Again, this depends on who those prospects are, but there are four common sales models:

6. Establish processes and goals.

Every GTM strategy should set clear, measurable goals. These can take the form of metrics, such as click rates, downloads, purchases, and other  key performance indicators  (KPIs). But even the best thought-out GTM will fall short if it isn’t well executed. Establish clear procedures and lines of communication with sales and marketing teams, check progress regularly against KPIs, and make the necessary course corrections as you go.

The Takeaway

A go-to-market strategy provides a step-by-step template for launching a new product or entering a new market. It consists of six key steps, beginning with defining who your target customer is and researching market demand and the competition. With such a plan in place, you can successfully launch your product to the right audience, the right way, at the right time.

Photo: Getty Images

Trending Content


What Is a Business Model?

marketing plan for new business model

A history, from Drucker to Christensen.

A look through HBR’s archives shows that business thinkers use the concept of a “business model” in many different ways, potentially skewing the definition. Many people believe Peter Drucker defined the term in a 1994 article as “assumptions about what a company gets paid for,” but that article never mentions the term business model. Instead, Drucker’s theory of the business was a set of assumptions about what a business will and won’t do, closer to Michael Porter’s definition of strategy. Businesses make assumptions about who their customers and competitors are, as well as about technology and their own strengths and weaknesses. Joan Magretta carries the idea of assumptions into her focus on business modeling, which encompasses the activities associated with both making and selling something. Alex Osterwalder also builds on Drucker’s concept of assumptions in his “business model canvas,” a way of organizing assumptions so that you can compare business models. Introducing a better business model into an existing market is the definition of a disruptive innovation, as written about by Clay Christensen. Rita McGrath offers that your business model is failing when innovations yield smaller and smaller improvements. You can innovate a new model by altering the mix of products and services, postponing decisions, changing the people who make the decisions, or changing incentives in the value chain. Finally, Mark Johnson provides a list of 19 types of business models and the organizations that use them.

In The New, New Thing , Michael Lewis refers to the phrase business model as “a term of art.” And like art itself, it’s one of those things many people feel they can recognize when they see it (especially a particularly clever or terrible one) but can’t quite define.

That’s less surprising than it seems, because how people define the term really depends on how they’re using it.

Lewis, for example, offers up the simplest of definitions — “All it really meant was how you planned to make money” — to make a simple point about the dot.com bubble, obvious now, but fairly prescient when he was writing at its height, in the fall of 1999. The term, he says dismissively, was “central to the Internet boom; it glorified all manner of half-baked plans…The ‘business model’ for Microsoft, for instance, was to sell software for 120 bucks a pop that cost fifty cents to manufacture …The business model of most Internet companies was to attract huge crowds of people to a Web site, and then sell others the chance to advertise products to the crowds. It was still not clear that the model made sense.” Well, maybe not then.

A look through HBR’s archives shows the many ways business thinkers use the concept and how that can skew the definitions. Lewis himself echoes many people’s impression of how Peter Drucker defined the term — “assumptions about what a company gets paid for” — which is part of Drucker’s “theory of the business.”

That’s a concept Drucker introduced in a 1994 HBR article that in fact never mentions the term business model. Drucker’s theory of the business was a set of assumptions about what a business will and won’t do, closer to Michael Porter’s definition of strategy . In addition to what a company is paid for, “these assumptions are about markets. They are about identifying customers and competitors, their values and behavior. They are about technology and its dynamics, about a company’s strengths and weaknesses.”

Drucker is more interested in the assumptions than the money here because he’s introduced the theory of the business concept to explain how smart companies fail to keep up with changing market conditions by failing to make those assumptions explicit.

Citing as a sterling example one of the most strategically nimble companies of all time — IBM — he explains that sooner or later, some assumption you have about what’s critical to your company will turn out to be no longer true. In IBM’s case, having made the shift from tabulating machine company to hardware leaser to a vendor of mainframe, minicomputer, and even PC hardware, Big Blue finally runs adrift on its assumption that it’s essentially in the hardware business, Drucker says (though subsequent history shows that IBM manages eventually to free itself even of that assumption and make money through services for quite some time).

Read more about

How to Design a Winning Business Model

Joan Magretta, too, cites Drucker when she defines what a business model is in “ Why Business Models Matter ,” partly as a corrective to Lewis. Writing in 2002, the depths of the dot.com bust, she says that business models are “at heart, stories — stories that explain how enterprises work. A good business model answers Peter Drucker’s age-old questions, ‘Who is the customer? And what does the customer value?’ It also answers the fundamental questions every manager must ask: How do we make money in this business? What is the underlying economic logic that explains how we can deliver value to customers at an appropriate cost?”

Magretta, like Drucker, is focused more on the assumptions than on the money, pointing out that the term business model first came into widespread use with the advent of the personal computer and the spreadsheet, which let various components be tested and, well, modeled. Before that, successful business models “were created more by accident than by design or foresight, and became clear only after the fact. By enabling companies to tie their marketplace insights much more tightly to the resulting economics — to link their assumptions about how people would behave to the numbers of a pro forma P&L — spreadsheets made it possible to model businesses before they were launched.”

Since her focus is on business modeling, she finds it useful to further define a business model in terms of the value chain. A business model, she says, has two parts: “Part one includes all the activities associated with making something: designing it, purchasing raw materials, manufacturing, and so on. Part two includes all the activities associated with selling something: finding and reaching customers, transacting a sale, distributing the product, or delivering the service. A new business model may turn on designing a new product for an unmet need or on a process innovation. That is it may be new in either end.”

Firmly in the “a business model is really a set of assumptions or hypotheses” camp is Alex Osterwalder, who has developed what is arguably the most comprehensive template on which to construct those hypotheses. His nine-part “ business model canvas ” is essentially an organized way to lay out your assumptions about not only the key resources and key activities of your value chain, but also your value proposition, customer relationships, channels, customer segments, cost structures, and revenue streams — to see if you’ve missed anything important and to compare your model to others.

Once you begin to compare one model with another, you’re entering the realms of strategy, with which business models are often confused. In “ Why Business Models Matter ,” Magretta goes back to first principles to make a simple and useful distinction, pointing out that a business model is a description of how your business runs, but a competitive strategy explains how you will do better than your rivals. That could be by offering a better business model — but it can also be by offering the same business model to a different market.

Introducing a better business model into an existing market is the definition of a disruptive innovation . To help strategists understand how that works, Clay Christensen presented a particular take on the matter in “ In Reinventing Your Business Model ” designed to make it easier to work out how a new entrant’s business model might disrupt yours. This approach begins by focusing on the customer value proposition — what Christensen calls the customer’s “job-to-be-done.” It then identifies those aspects of the profit formula, the processes, and the resources that make the rival offering not only better, but harder to copy or respond to — a different distribution system, perhaps (the iTunes store); or faster inventory turns (Kmart); or maybe a different manufacturing approach (steel minimills).

Many writers have suggested signs that could indicate that your current business model is running out of gas. The first symptom, Rita McGrath says in “ When Your Business Model is In Trouble ,” is when innovations to your current offerings create smaller and smaller improvements (and Christensen would agree). You should also be worried, she says, when your own people have trouble thinking up new improvements at all or your customers are increasingly finding new alternatives.

Knowing you need one and creating one are, of course, two vastly different things. Any number of articles focus more specifically on ways managers can get beyond their current business model to conceive of a new one. In “ Four Paths to Business Model Innovation ,” Karan Giotra and Serguei Netessine look at ways to think about creating a new model by altering your current business model in four broad categories: by changing the mix of products or services, postponing decisions, changing the people who make the decisions, and changing incentives in the value chain.

In “ How to Design a Winning Business Model ,” Ramon Cassadesus-Masanell and Joan Ricart focus on the choices managers must make when determining the processes needed to deliver the offering, dividing them broadly into policy choices (such as using union or nonunion workers; locating plants in rural areas, encouraging employees to fly coach class), asset choices (manufacturing plants, satellite communication systems); and governance choices (who has the rights to make the other two categories of decisions).

If all of this has left your head swimming, then Mark Johnson, who went on in his book Seizing the White Space to fill in the details of the idea presented in “Reinventing Your Business Model,” offers up perhaps the most useful starting point — this list of analogies, adapted from that book:

Can’t Think of a New Business Model?

Try adapting one of these basic forms.

Source: Seizing the White Space, by Mark Johnson

marketing plan for new business model

Partner Center

Google Translate

Original text

Google Translate

Do you want to increase the odds that your business startup will be a success? Then download this step-by-step business plan template and use it to lay the groundwork for your new business.

Writing a business plan gives you an opportunity to carefully think through every step of starting your company so you can better prepare and handle any challenges.

While a thorough business plan is essential in the financing process, it's helpful even if you don’t need outside financing.

Creating a business plan can:

Laying out a detailed, step-by-step plan gives you a blueprint you can refer to during the startup process and helps you maintain your momentum.

What this business plan template includes

Writing a business plan for a startup can sometimes seem overwhelming. To make the process easier and more manageable, this template will guide you step-by-step through writing it. The template includes easy-to-follow instructions for completing each section of the business plan, questions to help you think through each aspect, and corresponding fillable worksheet/s for key sections.

After you complete the 11 worksheets, you will have a working business plan for your startup to show your SCORE mentor .

The business plan sections covered in this template include:

The Appendices include documents that supplement information in the body of the plan.  These might be contracts, leases, purchase orders, intellectual property, key managers’ resumes, market research data, or anything that supports assumptions or statements made in the plan.

The last section of the template, “Refining Your Plan,” explains ways you may need to modify your plan for specific purposes, such as getting a bank loan, or for specific industries, such as retail or manufacturing.

Complete the Business Plan Template for a Startup Business to create a working business plan for your startup.

Then, contact your local  SCORE mentor  to review and refine your plan either online or in person.

For more than 100 years, Deluxe Corporation has sought to create the tools that help shape our economy. Since 1915, Deluxe has recognized the vital role that small business plays in our communities, from job creation to business development. For these reasons, the Deluxe Corporation Foundation provides financial support to nonprofits that help entrepreneurs and small business owners succeed. Our grants to SCORE have totaled more than $1.5M in recent years, with the majority of these funds supporting the creation and updates of online training and certification for SCORE mentors.   

Business Planning & Financial Statements Template Gallery Download SCORE’s templates to help you plan for a new business startup or grow your existing business.

An Easier Way to Prepare Your Business Plan -The Business Model Canvas The Business Model Canvas (BMC) is a one-page business plan that allows you to test and validate the key parts of your business in a manageable format.

Copyright © 2023 SCORE Association, SCORE.org

Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.

.css-1j41vuu{margin-right:42px;color:#f5f4f3!important;}@media (max-width: 1120px){.css-1j41vuu{margin-right:12px;}} Early preview: Amplify your team's impact with AI for Asana .css-1ixh9fn{display:inline-block;}@media (max-width: 480px){.css-1ixh9fn{display:block;margin-top:12px;}} .css-83uqd7-heading-6{font-size:14px;line-height:24px;font-weight:500;color:#F5F4F3!important;-webkit-text-decoration:underline;text-decoration:underline;}.css-83uqd7-heading-6 svg,.css-83uqd7-heading-6 svg path{color:#F5F4F3!important;} .css-5swhap-heading-6{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:flex-start;justify-content:flex-start;color:#0D0E10;-webkit-transition:all 0.3s;transition:all 0.3s;position:relative;font-size:16px;line-height:28px;padding:0;font-size:14px;line-height:24px;font-weight:500;color:#F5F4F3!important;-webkit-text-decoration:underline;text-decoration:underline;}.css-5swhap-heading-6:hover{border-bottom:0;color:#CD4848;}.css-5swhap-heading-6:hover path{fill:#CD4848;}.css-5swhap-heading-6:hover div{border-color:#CD4848;}.css-5swhap-heading-6:hover div:before{border-left-color:#CD4848;}.css-5swhap-heading-6:active{border-bottom:0;background-color:#EBE8E8;color:#0D0E10;}.css-5swhap-heading-6:active path{fill:#0D0E10;}.css-5swhap-heading-6:active div{border-color:#0D0E10;}.css-5swhap-heading-6:active div:before{border-left-color:#0D0E10;}.css-5swhap-heading-6 svg,.css-5swhap-heading-6 svg path{color:#F5F4F3!important;} Learn more .css-1k6cidy{width:11px;height:11px;margin-left:8px;}.css-1k6cidy path{fill:currentColor;}

How to create a winning marketing plan (with examples)

Molly Talbert contributor headshot

A marketing plan allows organizations to clearly visualize their marketing strategies through every channel. Leveraging your marketing plan with the right tools can be instrumental in seeing your marketing goals come to life. Learn the eight steps for creating a successful marketing plan and see some examples of marketing plans from world-class teams.

Marketing is essential to any business, and there are many benefits that come from it. For starters, marketing strengthens brand awareness, educates customers, and impacts your bottom line. 

quotation mark

Marketing’s job is never done. It’s about perpetual motion. We must continue to innovate every day.”

What is a marketing plan?

A marketing plan is a detailed roadmap that outlines the different strategies a team will use to achieve organizational objectives. Rather than focusing on solely the end goal, a marketing plan maps out all of the steps you need to reach your destination. 

If you’re a marketer, you know that there’s never a shortage of great ideas and things to do when it comes to marketing. With a marketing plan, you’ll be given a framework to help you and your team effectively prioritize work—and then get that work done. Some elements of marketing plans include:

Current business plan

Business goals

Mission statement  

Target customers 

Audience personas 

Key performance indicators (KPIs)

Competitive analysis 

Marketing budget  

Current marketing mix

What is the purpose of a marketing plan?

The purpose of a marketing plan is to grow the company’s consumer base and strengthen its brand while aligning with the organization’s mission and vision . The plan should analyze the competitive landscape and industry trends and then offer actionable insights that can create a competitive advantage. 

By documenting the steps of each strategy, you can see how your campaigns will work together in an organized way. 

Marketing plan vs. marketing strategy

A marketing plan contains different marketing strategies across different channels that work together to reach the company’s overarching marketing goals. 

For example, imagine you’re about to launch a new software product and the goal of your marketing plan is to drive downloads. Your marketing plan could include marketing strategies like creating top-of-funnel blog content and launching a social media campaign. 

How to write a marketing plan in eight steps

What does a marketing plan look like and how do you build one? If it's your first time building a marketing plan, follow these eight steps for success:

[inline illustration] marketing plan (infographic)

1. Set a clear marketing strategy

No matter what type of marketing plan you need to create, in order to first determine your marketing strategy, you need to ask yourself the following questions:

First, do I have the resources I need?

What is the vision?

What is the value?

What is the goal?

Who is my audience?

What are my channels?

What is the timeline?

Example: Imagine you’re creating a marketing strategy for a new blog. Go through the questions above to ensure you’re ready to move forward with the plan: 

Yes. The team has 15% more money than the budget required and we’re fully staffed.

To create a blog presence around certain SEO topics and increase the amount of organic web visits.

Websites with a blog tend to have 434% more indexed pages, thus bringing in more traffic and higher leads.

To drive more web traffic and increase awareness through high quality blog content.

VP of Sales working in the healthcare industry for companies with more than 10,000 employees.

Pro tip: One of the most important things to do as you create your marketing strategy is to identify your target audience . As with all marketing, you need to know who you’re marketing to. If you’re having a hard time determining who exactly your target audience is, try the Bullseye targeting framework . The Bullseye makes it easy for you to determine who your target audience is by industry, geography, company size, psychographics, and more.

Main channel will be the blog. Supporting channels include the website, email, digital ads, and social media.

Second quarter of the fiscal year (April 1-June 30).

2. Define key metrics for success 

Now that you’ve got your marketing strategy set, it’s time to define what your key marketing metrics will be. Your key metrics will help you measure and track the performance of your marketing activities. They’ll also help you understand how your efforts tie back to your larger objective.

Example: Say your goal is to increase marketing qualified leads (MQLs). Therefore, MQLs will be your key metric. You’ll then want to determine how many MQLs you need for this plan to be successful and how many MQLs you expect each marketing activity to generate. 

3. Research your competition 

It’s easy to get caught up in your company’s world, but it is critical that you take the time to step outside and into your competitors’ worlds. There’s a lot of value behind understanding your competitors . Knowing how they market themselves will help you find opportunities to make your company stand out.

Make sure you’re not duplicating your competitors’ efforts. If you discover a competitor has already executed your idea to a T, then it might be time to go back to the drawing board and brainstorm new ways to differentiate yourself.  By looking at your competitors, you might be surprised at the type of inspiration you’ll find and opportunities to differentiate yourself.

Example: If your competitor launches a social media campaign identical to what you had planned, go back to the drawing board and see how you can build off their campaign. Ask yourself: How can we differentiate our campaign while still getting our message across? What are the weaknesses of their campaign that we can capitalize on? What angles did they not approach?

4. Integrate your marketing efforts

The best marketing doesn’t feel like marketing.”

Now, here is where the fun comes in. Let’s dive into the different components that go into building a successful marketing plan. You’ll want to make sure your marketing plan includes multiple supporting activities that all add up into a powerful marketing machine. Some marketing plan components include: 

Lead generation

Social media

Product marketing

Public relations

Analyst relations

Customer marketing

Conversational marketing

Knowing where your consumer base spends the most time is significant for nailing this step. You need to have a solid understanding of your target audience before integrating your marketing efforts. 

Example: If your target audience is executives that spend a lot of time on LinkedIn, focus your social media strategy around placing branded content on LinkedIn. 

5. Differentiate with creative content

Did you know that 49% of marketers say visual images are hugely important to their content strategy? Having a clear brand and creative strategy is a huge part of every great marketing plan. When defining your creative strategy, think about your audience—what you want them to feel, think, and do when they see your marketing.

Will your audience find your creative work relevant? If your audience can’t relate to your creative work, they won’t feel connected to the story you’re trying to tell. Think outside the box and find innovative ways to engage your audience, whether through video, animations, or interactive graphics. Know what screens your creative work will live on, whether desktop, mobile, or tablet, and make sure they display beautifully and load quickly across every type of device. 

It’s easy to get caught up in the creative process, so it’s important to never lose sight of what your intentions are: to get your audience to take action. Always find the best way to display strong Calls to Action (CTAs) in your creative work. We live in a visual world; make sure your creative content counts.

Once you’ve established a strong creative strategy, the next step is to bring your strategy to life in the production stage. It’s vital to set up a strong framework for your creative production process to eliminate any unnecessary back and forth and potential bottlenecks. Consider establishing creative request forms, streamlining feedback and approval processes, and taking advantage of integrations that might make your designers’ lives easier.

Example: If your brand is fun and approachable, make sure that shows in your creative efforts. Create designs and CTAs that spark joy, offer entertainment, and alleviate the pressure in choosing a partner.

6. Operationalize your marketing plan

It isn’t just creation and promotion; it is process as well. I think that’s what a lot of people forget.”

We’ve all been there. Teams have built well-thought-out plans that never see the light of day. Don’t let this scenario be you. Building a marketing plan requires a lot of attention and time; you need to make sure it doesn’t end up collecting dust on the shelf.

This particular step is key: operationalize your plan. It’s important to get the gears moving on your marketing plan and move full speed ahead while momentum is strong. The first step to operationalizing your marketing plan is by housing its entirety in one place. A robust work management tool can help you accomplish this.

With the right work management tool, you can map out major themes for the year and set time frames or OKRs for every marketing activity. You’re able to mark major milestones and view your entire marketing plan according to your preference, whether it’s in a Gantt chart, calendar, or Kanban board view. The right tool also makes it easy to quickly loop in stakeholders with status updates so they’re always up to date on progress. This is extremely important if you have a global team to ensure efforts aren’t being duplicated.

With everything housed in one spot, you can easily track your entire marketing plan and make sure you always have something lined up to talk to your market about. Building a marketing plan is one thing, but how you operationalize it can be your secret to standout marketing.

Example: If your strategy is to increase MQLs, you can set OKRs to ensure you put your goals into action. A sample OKR could state: “We will double MQLs as measured by the amount of organic traffic to our blog.”

7. Get the right tech

Instead of using technology to automate processes, think about using technology to enhance human interaction.”

Equip your marketing team with powerful technology so they can do their jobs seamlessly. Marketing technology (martech) continues to take center stage and you don’t want to fall behind. 82% of organizations claimed to be making changes to their martech to improve performance in 2022. 

We live in a digital world with increasingly dispersed teams and you should take advantage of all the tools that come with it.

Example: Imagine you’re looking to increase email outreach while not straining your team’s bandwidth. Invest in an email marketing platform that automates outreach and helps to identify and reach your target audience. 

8. Measure performance

Given that over 75% of marketers are analyzing how their campaigns affect revenue, it’s no surprise that measuring performance is necessary. You established your key metrics in step two, and now it’s time to track and report on them in step eight.

Periodically measure your marketing efforts to find areas of improvement so you can optimize in real time. There are always lessons to be taught when looking at data. You can discover trends as well as detect what initiatives performed well and what didn’t. You can apply these learnings to your next marketing plan for improved results. 

Example: Say you discover that long-form content is consistently bringing in 400% more page views than short-form content. As a result, you’ll want to focus on producing more long-form content in your next marketing plan.

Types of marketing plans 

Depending on what you’re trying to accomplish, what your timeline is, or which facet of marketing you’re driving, you’ll create a different type of marketing plan. Some different types of marketing plans include, but aren’t limited to:

[Inline illustration] Types of marketing plan (infographic)

General marketing plan 

A general marketing plan is typically an annual or quarterly marketing plan that details the overarching marketing strategies for the period. 

Typically, this type of marketing plan outlines marketing goals, the company’s mission, buyer personas, unique selling propositions, and more. The general marketing plan lays the foundation for the other marketing plans that an organization may employ. 

Content marketing plan

A content marketing plan outlines the different content strategies and campaigns that you’ll use to promote your product or service. When putting together a content marketing plan, ask yourself:

Who’s our audience? 

What topics are they interested in?

What channels do they consume content through?

Use market research tools to get the best insights into what topics your target audience is most interested in. 

SEO marketing plan

Your SEO marketing plan should work directly alongside your content marketing plan as you chart content that’s designed to rank in search results. While your content marketing plan should include all types of content, your SEO marketing plan will cover the top-of-funnel content that drives new users to your site. 

Planning search engine-friendly content is only one step in your SEO marketing plan. You’ll also need to include link-building and technical aspects in order to ensure your site and content are as optimized as possible.

Paid marketing plan

This plan includes all the paid strategies in your marketing plan, like:


Paid social media advertising

Native advertising 

Display advertising 

It’s especially important to do audience research prior to launching your paid marketing plan to ensure you’re maximizing ROI. Consult with content strategists to ensure your ads align with your buyer personas so you know you’re showing ads to the right people. 

Social media marketing plan

This plan will highlight the marketing strategies that you plan to accomplish on social media. Like in any general or digital marketing plan , your social media strategy should identify your ideal customer base and determine how they engage on different social channels. From there, you can cater your social media content to your target audience.  

Your social media plan should detail the marketing tactics you’ll use to reach your audience on social media as well as key success metrics. Some success metrics on social media could include:

Reaching 50,000 followers on Twitter 

Getting 1,000 weekly mentions on Instagram 

Getting 500 profile shares on Facebook 

These will change depending on who your target market is. However, no matter what channel you’re tracking, use SMART goals to gauge social media milestones. 

Product launch marketing plan

If you’re launching a new product , you’ll need a specific marketing plan tailored to build excitement about the launch. 

Product launch marketing templates can have unintended effects that create buzz around older products or services. Nailing your product launch marketing plan can reinforce your overall brand and fast-track your general marketing plan.

Marketing plan examples from world-class teams

The best brands in the world bring their marketing plans to life every day. If you’re looking for some examples of how to execute your next marketing plan, check out some sample marketing plans from successful marketing teams.

Redshift by Autodesk consistently grows content by 30% year over year 

Autodesk creates software that helps people imagine, design, and make a better world. The Autodesk team launched Redshift, its premier owned-media site, and scaled content production to support seven additional languages. 

By standardizing their content production workflow and centralizing all content conversations in one place, the editorial team is able to publish 2X more content monthly. Learn more about how Autodesk runs a well-oiled content machine by reading the Redshift by Autodesk case study .

Sony Music increases creative production capacity by 4X

The marketing and creative production teams in the Legacy Recordings catalog division at Sony Music are responsible for promoting 100+ years of music. With all creative production and approvals centralized in one project that’s connected to the campaign team’s calendar, creative needs, and due dates are clear. By standardizing processes, the team has reduced campaign production time by 75%. Learn more about how Sony Music scaled their creative production process by reading the Sony Music Case Study .

Trinny London perfects new customer acquisition 

In consumer industries, social media is crucial for building a community of people who feel an affinity with the brand—and Trinny London is no exception. As such, it was imperative that Trinny London’s ad spend was targeted to the correct audience. Using a work management tool, Trinny London was able to nail the process of creating, testing, and implementing ads on multiple social channels.

With the help of a centralized tool, Trinny London improved its ad spend and drove more likes and subscriptions on its YouTube page. Learn more about how Trinny London capitalized on paid advertising and social media by reading the Trinny London Case Study . 

Use a marketing plan template to get started

Are you looking for a marketing plan template? Once you’ve created your marketing strategy and are ready to operationalize your marketing plan, get started with one of our marketing templates . 

Our marketing templates can help you manage and track every aspect of your marketing plan, from creative requests to approval workflows. Centralize your entire marketing plan in one place, customize the roadmap, assign tasks, and build a timeline or calendar. 

Once you’ve operationalized your entire marketing plan with one of our templates, share it with your stakeholders so everyone can work together in the same tool. Your entire team will feel connected to the marketing plan, know what to prioritize, and see how their work contributes to the project objectives . Choose the best marketing template for your team:

Marketing project plan template

Marketing campaign plan template

Product marketing launch template

Editorial calendar template

Agency collaboration template

Creative requests template

Event planning template

GTM strategy template

Turn your marketing plan into marketing success 

A great marketing plan strengthens team alignment, improves organization, and keeps all your marketing activities on track. Now that we’ve walked through how to develop a marketing plan together, we hope you feel better equipped for success. With our eight steps and free templates, you’re one step closer to creating your most successful marketing plan yet.

Related resources

marketing plan for new business model

The best project planning software of 2023

marketing plan for new business model

7 steps to crafting a winning event proposal (with template)

marketing plan for new business model

What is capacity planning? Tips to apply the right strategy

marketing plan for new business model

3 elements every project charter needs

AI-powered marketing and sales reach new heights with generative AI

Artificial intelligence (AI) and machine learning (ML) continue to push the boundaries of what is possible in marketing and sales. And now, with the ongoing step-change evolution of generative AI (gen AI), we’re seeing the use of open-source platforms penetrating to the sales frontlines, along with rising investment by sales-tech players in gen AI innovations. Given the accelerating complexity and speed of doing business in a digital-first world, these technologies are becoming essential tools.

Inevitably, this will impact how you operate—and how you connect with and serve your customers. In fact, it’s probably already doing so. Forward-thinking C-suite leaders are considering how to adjust to this new landscape. Here, we outline the marketing and sales opportunities (and risks) in this dynamic field and suggest productive paths forward.

Our research suggests that a fifth of current sales-team functions could be automated.

How AI is reshaping marketing and sales

AI is poised to disrupt marketing and sales in every sector. This is the result of shifts in consumer sentiment alongside rapid technological change.

Omnichannel is table stakes

Across industries, engagement models are changing: today’s customers want everything, everywhere, and all the time. While they still desire an even mix of traditional, remote, and self-service channels (including face-to-face, inside sales, and e-commerce), we see continued growth in customer preference for online ordering and reordering.

Winning companies—those increasing their market share by at least 10 percent annually—tend to utilize advanced sales technology; build hybrid sales teams and capabilities; tailor strategies for third-party and company-owned marketplaces; achieve e-commerce excellence across the entire funnel; and deliver hyper-personalization (unique messages for individual decision makers based on their needs, profile, behaviors, and interactions—both past and predictive).

Step changes are occurring in digitization and automation

What is generative ai.

Many of us are already familiar with online AI chatbots and image generators, using them to create convincing pictures and text at astonishing speed. This is the great power of generative AI, or gen AI: it utilizes algorithms to generate new content—writing, images, or audio—from training data.

To do this, gen AI uses deep-learning models called foundation models (FMs). FMs are pre-trained on massive datasets and the algorithms they support are adaptable to a wide variety of downstream tasks, including content generation. Gen AI can be trained, for example, to predict the next word in a string of words and can generalize that ability to multiple text-generation tasks, such as writing articles, jokes, or code.

In contrast, “traditional” AI is trained on a single task with human supervision, using data specific to that task; it can be fine-tuned to reach high precision, but must be retrained for each new use case. Thus gen AI represents an enormous step change in power, sophistication, and utility—and a fundamental shift in our relationship to artificial intelligence.

AI technology is evolving at pace. It is becoming increasingly easy and less costly to implement, while offering ever-accelerating complexity and speed that far exceeds human capacity. Our research suggests that a fifth of current sales-team functions could be automated. In addition, new frontiers are opening with the rise of gen AI (see sidebar “What is generative AI?”). Furthermore, venture capital investment in AI has grown 13-fold over the last ten years. 1 Nestor Maslej et al., “The AI Index 2023 annual report,” AI Index Steering Committee, Institute for Human-Centered AI, Stanford University, April 2023. This has led to an explosion of “usable” data (data that can be used to formulate insights and suggest tangible actions) and accessible technology (such as increased computation power and open-source algorithms). Vast, and growing, amounts of data are now available for foundation-model training, and since 2012 there’s been a millionfold increase in computation capacity—doubling every three to four months. 2 Cliff Saran, “Stanford University finds that AI is outpacing Moore’s Law,” Computer Weekly, December 12, 2019; Risto Miikkulainen, “Creative AI through evolutionary computation: Principles and examples,” SN Computer Science, 2(3): 163, March 23, 2001.

Would you like to learn more about our Growth, Marketing & Sales Practice ?

What does gen ai mean for marketing and sales.

The rise of AI, and particularly gen AI, has potential for impact in three areas of marketing and sales: customer experience (CX), growth, and productivity.

For example, in CX, hyper-personalized content and offerings can be based on individual customer behavior, persona, and purchase history. Growth can be accelerated by leveraging AI to jumpstart top-line performance, giving sales teams the right analytics and customer insights to capture demand. Additionally, AI can boost sales effectiveness and performance by offloading and automating many mundane sales activities, freeing up capacity to spend more time with customers and prospective customers (while reducing cost to serve). In all these actions, personalization is key. AI coupled with company-specific data and context has enabled consumer insights at the most granular level, allowing B2C lever personalization through targeted marketing and sales offerings. Winning B2B companies go beyond account-based marketing and disproportionately use hyper-personalization in their outreach.

Bringing gen AI to life in the customer journey

There are many gen AI-specific use cases across the customer journey that can drive impact:

A gen AI sales use case: Dynamic audience targeting and segmentation

Gen AI can combine and analyze large amounts of data—such as demographic information, existing customer data, and market trends—to identify additional audience segments. Its algorithms then enable businesses to create personalized outreach content, easily and at scale.

Instead of spending time researching and creating audience segments, a marketer can leverage gen AI’s algorithms to identify segments with unique traits that may have been overlooked in existing customer data. Without knowing every detail about these segments, they can then ask a gen AI tool to draft automatically tailored content such as social media posts and landing pages. Once these have been refined and reviewed, the marketer and a sales leader can use gen AI to generate further content such as outreach templates for a matching sales campaign to reach prospects.

Embracing these techniques will require some openness to change. Organizations will require a comprehensive and aggregated dataset (such as an operational data lake that pulls in disparate sources) to train a gen AI model that can generate relevant audience segments and content. Once trained, the model can be operationalized within commercial systems to streamline workflows while being continuously refined by agile processes.

Lastly, the commercial organizational structure and operating model may need to be adjusted to ensure appropriate levels of risk oversight are in place and performance assessments align to the new ways of working.

This revolutionary approach is transforming the landscape of marketing and sales, driving greater effectiveness and customer engagement from the very start of the customer journey.

Winning tomorrow’s car buyers using artificial intelligence in marketing and sales

Winning tomorrow’s car buyers using artificial intelligence in marketing and sales

Commercial leaders are optimistic—and reaping benefits.

We asked a group of commercial leaders to provide their perspective on use cases and the role of gen AI in marketing and sales more broadly. Notably, we found cautious optimism across the board: respondents anticipated at least moderate impact from each use case we suggested. In particular, these players are most enthusiastic about use cases in the early stages of the customer journey lead identification, marketing optimization, and personalized outreach (Exhibit 1).

These top three use cases are all focused on prospecting and lead generation, where we’re witnessing significant early momentum. This comes as no surprise, considering the vast amount of data on prospective customers available for analysis and the historical challenge of personalizing initial marketing outreach at scale.

Various players are already deploying gen AI use cases, but this is undoubtedly only scratching the surface. Our research found that 90 percent of commercial leaders expect to utilize gen AI solutions “often” over the next two years (Exhibit 2).

Our research found that 90 percent of commercial leaders expect to utilize gen AI solutions “often” over the next two years.

Overall, the most effective companies are prioritizing and deploying advanced sales tech, building hybrid teams, and enabling hyper-personalization. And they’re maximizing their use of e-commerce and third-party marketplaces through analytics and AI. At successful companies, we’ve found:

Such trailblazers are already realizing the potential of gen AI to elevate their operations.

Our research indicates that players that invest in AI are seeing a revenue uplift of 3 to 15 percent and a sales ROI uplift of 10 to 20 percent.

Anticipating and mitigating risks in gen AI

While the business case for artificial intelligence is compelling, the rate of change in AI technology is astonishingly fast—and not without risk. When commercial leaders were asked about the greatest barriers limiting their organization’s adoption of AI technologies, internal and external risk were at the top of the list.

From IP infringement to data privacy and security, there are a number of issues that require thoughtful mitigation strategies and governance. The need for human oversight and accountability is clear, and may require the creation of new roles and capabilities to fully capitalize on opportunities ahead.

In addition to immediate actions, leaders can start thinking strategically about how to invest in AI commercial excellence for the long term. It will be important to identify which use cases are table stakes, and which can help you differentiate your position in the market. Then prioritize based on impact and feasibility.

The AI landscape is evolving very quickly, and winners today may not be viable tomorrow. Small start-ups are great innovators but may not be able to scale as needed or produce sales-focused use cases that meet your needs. Test and iterate with different players, but pursue partnerships strategically based on sales-related innovation, rate of innovation versus time to market, and ability to scale.

AI is changing at breakneck speed, and while it’s hard to predict the course of this revolutionary tech, it’s sure to play a key role in future marketing and sales. Leaders in the field are succeeding by turning to gen AI to maximize their operations, taking advantage of advances in personalization and internal sales excellence. How will your industry react?

Richelle Deveau is a partner in McKinsey’s Southern California office, Sonia Joseph Griffin is an associate partner in the Atlanta office, where Steve Reis is a senior partner.

The authors wish to thank Michelle Court-Reuss, Will Godfrey, Russell Groves, Maxim Lampe, Siamak Sarvari, and Zach Stone for their contributions to this article.

Explore a career with us

Related articles.


A CEO’s guide to the metaverse

Digital illustration of a wireframe of an apple.

The multiplier effect: How B2B winners grow

How Companies Make Money

What Is a Business Model?

Understanding business models, evaluating successful business models, how to create a business model.

The Bottom Line

Learn to understand a company's profit-making plan

marketing plan for new business model

Katrina Ávila Munichiello is an experienced editor, writer, fact-checker, and proofreader with more than fourteen years of experience working with print and online publications.

marketing plan for new business model

Investopedia / Laura Porter

The term business model refers to a company's plan for making a profit . It identifies the products or services the business plans to sell, its identified target market , and any anticipated expenses . Business models are important for both new and established businesses. They help new, developing companies attract investment, recruit talent, and motivate management and staff.

Established businesses should regularly update their business model or they'll fail to anticipate trends and challenges ahead. Business models also help investors evaluate companies that interest them and employees understand the future of a company they may aspire to join.

Key Takeaways

Business Model

A business model is a high-level plan for profitably operating a business in a specific marketplace. A primary component of the business model is the value proposition . This is a description of the goods or services that a company offers and why they are desirable to customers or clients, ideally stated in a way that differentiates the product or service from its competitors.

A new enterprise's business model should also cover projected startup costs and financing sources, the target customer base for the business, marketing strategy , a review of the competition, and projections of revenues and expenses. The plan may also define opportunities in which the business can partner with other established companies. For example, the business model for an advertising business may identify benefits from an arrangement for referrals to and from a printing company.

Successful businesses have business models that allow them to fulfill client needs at a competitive price and a sustainable cost. Over time, many businesses revise their business models from time to time to reflect changing business environments and market demands .

When evaluating a company as a possible investment, the investor should find out exactly how it makes its money. This means looking through the company's business model. Admittedly, the business model may not tell you everything about a company's prospects. But the investor who understands the business model can make better sense of the financial data.

A common mistake many companies make when they create their business models is to underestimate the costs of funding the business until it becomes profitable. Counting costs to the introduction of a product is not enough. A company has to keep the business running until its revenues exceed its expenses.

One way analysts and investors evaluate the success of a business model is by looking at the company's gross profit . Gross profit is a company's total revenue minus the cost of goods sold (COGS). Comparing a company's gross profit to that of its main competitor or its industry sheds light on the efficiency and effectiveness of its business model. Gross profit alone can be misleading, however. Analysts also want to see cash flow or net income . That is gross profit minus operating expenses and is an indication of just how much real profit the business is generating.

The two primary levers of a company's business model are pricing and costs. A company can raise prices, and it can find inventory at reduced costs. Both actions increase gross profit. Many analysts consider gross profit to be more important in evaluating a business plan. A good gross profit suggests a sound business plan. If expenses are out of control, the management team could be at fault, and the problems are correctable. As this suggests, many analysts believe that companies that run on the best business models can run themselves.

When evaluating a company as a possible investment, find out exactly how it makes its money (not just what it sells but how it sells it). That's the company's business model.

Types of Business Models

There are as many types of business models as there are types of business. For instance, direct sales, franchising , advertising-based, and brick-and-mortar stores are all examples of traditional business models. There are hybrid models as well, such as businesses that combine internet retail with brick-and-mortar stores or with sporting organizations like the NBA .

Below are some common types of business models; note that the examples given may fall into multiple categories.

One of the more common business models most people interact with regularly is the retailer model. A retailer is the last entity along a supply chain. They often buy finished goods from manufacturers or distributors and interface directly with customers.

Example: Costco Wholesale


A manufacturer is responsible for sourcing raw materials and producing finished products by leveraging internal labor, machinery, and equipment. A manufacturer may make custom goods or highly replicated, mass produced products. A manufacturer can also sell goods to distributors, retailers, or directly to customers.

Example: Ford Motor Company


Instead of selling products, fee-for-service business models are centered around labor and providing services. A fee-for-service business model may charge by an hourly rate or a fixed cost for a specific agreement. Fee-for-service companies are often specialized, offering insight that may not be common knowledge or may require specific training.

Example: DLA Piper LLP


Subscription-based business models strive to attract clients in the hopes of luring them into long-time, loyal patrons. This is done by offering a product that requires ongoing payment, usually in return for a fixed duration of benefit. Though largely offered by digital companies for access to software, subscription business models are also popular for physical goods such as monthly reoccurring agriculture/produce subscription box deliveries.

Example: Spotify

Freemium business models attract customers by introducing them to basic, limited-scope products. Then, with the client using their service, the company attempts to convert them to a more premium, advance product that requires payment. Although a customer may theoretically stay on freemium forever, a company tries to show the benefit of what becoming an upgraded member can hold.

Example: LinkedIn/LinkedIn Premium

Some companies can reside within multiple business model types at the same time for the same product. For example, Spotify (a subscription-based model) also offers free version and a premium version.

If a company is concerned about the cost of attracting a single customer, it may attempt to bundle products to sell multiple goods to a single client. Bundling capitalizes on existing customers by attempting to sell them different products. This can be incentivized by offering pricing discounts for buying multiple products.

Example: AT&T


Marketplaces are somewhat straight-forward: in exchange for hosting a platform for business to be conducted, the marketplace receives compensation. Although transactions could occur without a marketplace, this business models attempts to make transacting easier, safer, and faster.

Example: eBay

Affiliate business models are based on marketing and the broad reach of a specific entity or person's platform. Companies pay an entity to promote a good, and that entity often receives compensation in exchange for their promotion. That compensation may be a fixed payment, a percentage of sales derived from their promotion, or both.

Example: social media influencers such as Lele Pons, Zach King, or Chiara Ferragni.

Razor Blade

Aptly named after the product that invented the model, this business model aims to sell a durable product below cost to then generate high-margin sales of a disposable component of that product. Also referred to as the "razor and blade model", razor blade companies may give away expensive blade handles with the premise that consumers need to continually buy razor blades in the long run.

Example: HP (printers and ink)

"Tying" is an illegal razor blade model strategy that requires the purchase of an unrelated good prior to being able to buy a different (and often required) good. For example, imagine Gillette released a line of lotion and required all customers to buy three bottles before they were allowed to purchase disposable razor blades.

Reverse Razor Blade

Instead of relying on high-margin companion products, a reverse razor blade business model tries to sell a high-margin product upfront. Then, to use the product, low or free companion products are provided. This model aims to promote that upfront sale, as further use of the product is not highly profitable.

Example: Apple (iPhones + applications)

The franchise business model leverages existing business plans to expand and reproduce a company at a different location. Often food, hardware, or fitness companies, franchisers work with incoming franchisees to finance the business, promote the new location, and oversee operations. In return, the franchisor receives a percentage of earnings from the franchisee.

Example: Domino's Pizza


Instead of charging a fixed fee, some companies may implement a pay-as-you-go business model where the amount charged depends on how much of the product or service was used. The company may charge a fixed fee for offering the service in addition to an amount that changes each month based on what was consumed.

Example: Utility companies

A brokerage business model connects buyers and sellers without directly selling a good themselves. Brokerage companies often receive a percentage of the amount paid when a deal is finalized. Most common in real estate, brokers are also prominent in construction/development or freight.

Example: ReMax

There is no "one size fits all" when making a business model. Different professionals may suggest taking different steps when creating a business and planning your business model. Here are some broad steps one can take to create their plan:

Instead of reinventing the wheel, consider what competing companies are doing and how you can position yourself in the market. You may be able to easily spot gaps in the business model of others.

Criticism of Business Models

Joan Magretta, the former editor of the Harvard Business Review, suggests there are two critical factors in sizing up business models. When business models don't work, she states, it's because the story doesn't make sense and/or the numbers just don't add up to profits. The airline industry is a good place to look to find a business model that stopped making sense. It includes companies that have suffered heavy losses and even bankruptcy .

For years, major carriers such as American Airlines, Delta, and Continental built their businesses around a hub-and-spoke structure , in which all flights were routed through a handful of major airports. By ensuring that most seats were filled most of the time, the business model produced big profits.

However, a competing business model arose that made the strength of the major carriers a burden. Carriers like Southwest and JetBlue shuttled planes between smaller airports at a lower cost. They avoided some of the operational inefficiencies of the hub-and-spoke model while forcing labor costs down. That allowed them to cut prices, increasing demand for short flights between cities.

As these newer competitors drew more customers away, the old carriers were left to support their large, extended networks with fewer passengers. The problem became even worse when traffic fell sharply following the September 11 terrorist attacks in 2001 . To fill seats, these airlines had to offer more discounts at even deeper levels. The hub-and-spoke business model no longer made sense.

Example of Business Models

Consider the vast portfolio of Microsoft. Over the past several decades, the company has expanded its product line across digital services, software, gaming, and more. Various business models, all within Microsoft, include but are not limited to:

A business model is a strategic plan of how a company will make money. The model describes the way a business will take its product, offer it to the market, and drive sales. A business model determines what products make sense for a company to sell, how it wants to promote its products, what type of people it should try to cater to, and what revenue streams it may expect.

What Is an Example of a Business Model?

Best Buy, Target, and Walmart are some of the largest examples of retail companies. These companies acquire goods from manufacturers or distributors to sell directly to the public. Retailers interface with their clients and sell goods, though retails may or may not make the actual goods they sell.

What Are the Main Types of Business Models?

Retailers and manufacturers are among the primary types of business models. Manufacturers product their own goods and may or may not sell them directly to the public. Meanwhile, retails buy goods to later resell to the public.

How Do I Build a Business Model?

There are many steps to building a business model, and there is no single consistent process among business experts. In general, a business model should identify your customers, understand the problem you are trying to solve, select a business model type to determine how your clients will buy your product, and determine the ways your company will make money. It is also important to periodically review your business model; once you've launched, feel free to evaluate your plan and adjust your target audience, product line, or pricing as needed.

A company isn't just an entity that sells goods. It's an ecosystem that must have a plan in plan on who to sell to, what to sell, what to charge, and what value it is creating. A business model describes what an organization does to systematically create long-term value for its customers. After building a business model, a company should have stronger direction on how it wants to operate and what its financial future appears to be.

Harvard Business Review. " Why Business Models Matter ."

Bureau of Transportation Statistics. " Airline Travel Since 9/11 ."

Microsoft. " Annual Report 2021 ."

Fundamental Analysis

Financial Statements

Types of Corporations

Small Business

Warren Buffett


By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Craft a business plan with marketing and financial model

Budget $30-250 USD

Create a professional deck that can be presented to investors or senior stakeholders

Write a company description, market and industry analysis, SWOT analysis and competitor analysis

Turn my analysis into digestible insights via charts and tables and provide sources for every finding

These needs to be included:

* Executive summary

* Marketing strategy

* Company description

* SWOT analysis

* Customer analysis

* Industry & competitive analysis

* TAM calculation or analysis

* Tailored marketing plan

* 5-year financial forecast with fundamental KPIs and returns analysis (cash flow, ROI, payback period, break-even)

Skills: Business Analysis , Business Plans , Financial Research , Finance , Financial Analysis

Project ID: #36642016

Looking to make some money?

Awarded to:.

Craft a business plan with marketing and financial model I am an award-winning content and copywriter passionate about creating engaging and compelling blogs, articles, business and sales plans, marketing plans, feas More

42 freelancers are bidding on average $132 for this job

Hi. I am ranked among Top Business Plan & financial model writers with 1000+ project awards and 600+ good reviews on freelancer. I have read your requirements mentioned in the project details. I would like you to see m More

I have read and understood all your project details "Craft a business plan with marketing and financial model" and I feel my self the best candidate to complete this project with 100 percent accuracy. I have vast amo More

Dear Sir, Hope you are doing well I am a business & financial Advisor providing services of writing business plans, feasibility studies, financial models & business valuation reports. I am CA finalist from Institute o More

Hi! We are a professional business solutions firm having seven years long experience serving clients across the globe. We provide high-level Management Consulting, Business Management, Business Development, Business A More

Hello, I would like to write your meticulous business plan along with financial projections, executive strategies, and the future success of your business so that your investors can realize the main idea of your busin More

Greetings, As an experienced business plan writer and consultant, I will work with you to guarantee that you're in a position to succeed, whether you're starting a new firm or expanding into a new industry. I will ass More

Hi there, I have read your project description and i'm confident i can do this project for you perfectly.I still have a few questions. please leave a message on my chat so we can discuss the budget and deadline of the More

Craft a business plan with marketing and financial model I have a Master's degree with 6 years of writing experience and I can manage thousands of words with "Premium Quality" on daily basis, I will provide you a Turn More

I have read and understood the details of this project "Craft a business plan with marketing and financial model". I am a Highly-Qualified & Skilled ACADEMIC WRITER with more than 10-Years of experience. In last 10 More

Hi, I am an expert and professional business planner. I just read your posting. It sounds like you need an expert business plan writer to complete your writing. I have a background in business and marketing plan writi More

Craft a business plan with marketing and financial model I am excited after reading your project details I have completed my MPhil in business administration and I have about 4-year experience in all types of busines More

Craft a business plan with marketing and financial model As an experienced MBA writer, I have worked in various writing fields for over seven years. Throughout my career, I have successfully completed thousands of pro More

Hi, I have seen your your project details and I am the "BEST CANDIDATE" for this job "Craft a business plan with marketing and financial model". I am an experienced Engineer & Mathematician with more than 8 years of More

I'm a skilled and experienced business plan writer. I have read your requirement. You appear to require the assistance of a professional business plan writer to finish your task. I have 05 years of experience writing b More

I am damn sure that I can complete this project "Craft a business plan with marketing and financial model" beyond your expectations and within your given time and budget. I am a Ph.D. degree holder in education manag More

Greetings! Are you looking for a detailed and investor-ready business plan for your startup or existing business? Do you need something you can present to banks or investors to get funding for your business? My name i More

Craft a business plan with marketing and financial model My name is Rabia Faisal, I am working in the writing industry since 2011. During this time, I have served countless clients with a full amount of satisfaction b More

Craft a business plan with marketing and financial model. Being MBA and having a professional experience of 7 years in different types of writing services, I can better assist you with my budget friendly, plagiarism fr More

Hi, I have read your requirements mentioned in the project details. I would like you to see my sample work and check the quality that I can provide. I am an affiliate chartered accountant (CPA) with 7+ years of experi More

Craft a business plan with marketing and financial model Hi, I am a Chartered Financial Analyst who is working in a reputable accounting firm for the past 3 years, thus having great experience of these subjects in th More

Welcome, ! Processing …

Link to existing freelancer account.

The email address is already associated with a Freelancer account. Enter your password below to link accounts:

Link your account to a new Freelancer account

Link to your existing Freelancer account

More From Forbes

How to start a small business: 10 key steps for beginners.

Follow these 10 steps to start a successful business as a beginner.

Starting a business may sound complicated, but if you follow a systematic plan with actionable and practical steps, you can be successful, even as a beginner.

Turning your small business ideas into reality takes time, extensive research, detailed planning, and constant improvement. This article lists an effective 10-step guideline for starting one from scratch.

How To Start A Small Business At Home Or Online

1. come up with a business idea.

First, develop one or several small business ideas you want to pursue. If you haven’t settled on an idea yet, you can research to explore various options or choose one that aligns with your passion or interests.

At this point, don’t focus exclusively on the practicality of your idea, and allow yourself to be creative. The question of whether your idea has the potential to be a successful business will be answered in the next step.

2. Conduct Market Research

There are various methods to conduct market research, including surveys, interviews, and online research. Regardless of your chosen strategy, it’s important to be as thorough as possible.

Best Travel Insurance Companies

Best covid-19 travel insurance plans.

Know the current trends in your prospect niche, analyze your potential business competitors, and assess whether there’s enough demand for your products or services. Once the data you’ve gathered indicates a market space for your business idea, proceed to the next phase.

3. Write A Business Plan

Whether you want to self-finance or seek potential investors, you must create a comprehensive business plan. This document serves as a detailed guideline for your business, covering aspects such as your products and services, marketing strategies, financial plans, and more.

With a detailed business plan, you’ll be prepared for difficulties or problems you may encounter when starting your project. Moreover, you will have a clearer understanding of the essence and purpose of your business idea.

4. Figure Out Your Finances

Your business plan should have already determined the required financing. That said, it’s time to figure out how you’ll secure the necessary funds for your business.

There are three major ways to obtain funding for your business: self-funding, seeking investors, or acquiring loans. So, decide which ones are most suitable for your business.

Regardless of how your business is funded, set up a separate bank account to avoid mixing up your personal money with your business capital.

5. Determine Your Business Structure

Your business structure impacts various aspects of your enterprise. These include your day-to-day operations, how much tax you pay, and the risks to your personal assets.

Select the business structure best suited for the type and scale of your enterprise. You can choose from Limited Liability Company (LLC), Limited Liability Partnership (LLP), Corporation, and Sole Proprietorship.

6. Register Your Business

The registration process for your business varies depending on which structure you choose and the state in which you want to operate.

If you decide to establish your business as a sole proprietorship, there’s no need to register it formally. Your business profits will be considered as your personal income, so you can start immediately without filing separate paperwork. However, if you wish to operate under a brand name instead of your own, you may need to register a Doing Business As (DBA) name.

Suppose you establish your business as an LLC, LLP, or corporation. In that case, you must register it as a separate legal entity, with taxes and income separate from your own.

To do so, visit your state’s business agency, and complete the necessary registration steps. These typically involve paying a filing fee, choosing a registered agent to manage your business’ legal documents, and obtaining your business's tax identification number and bank accounts.

7. Select Your Vendors

Decide whether your business requires products and services from vendors that will help you streamline your operations. Some common business functions you may want to outsource to service-providing vendors are finance management, customer service support, and shipping and logistics.

Given that the data you’ll share with vendors may be sensitive, it’s important to engage exclusively with trusted entities in your industry.

8. Set Up An Online Presence

In this tech-centered era, establishing an online presence for your business is non-negotiable. This is one of the easiest ways to promote your business to customers and showcase your brand to potential future investors.

The most common methods to establish an online presence for your business are creating a social media page and developing a customized website. As mentioned before, you can outsource this process to vendors if you’re not too experienced in this field.

9. Market And Advertise Your Business

It’s time to be proactive about showing your products and services to your target audience. You can do this through various offline and online marketing and advertising strategies.

To promote your brand offline, you can sponsor local events, hand out banners and posters, or offer free branded merchandise to the public. Online marketing also offers various options, including paid advertisements, establishing affiliate programs, and engaging in organic social media marketing, where you post regular content and build a community around your brand.

10. Grow Your Business

Launching a business marks the initial phase of your entrepreneurial journey. Be prepared to improve and change how your business operates over time, as this is almost always inevitable.

Join communities, collaborate with other brands in your niche or industry, and accept constructive criticisms from customers and experienced entrepreneurs. Your business doesn’t have to be perfect to succeed, but it should always be adapting and improving.

Other Key Tips For Starting A Small Business

Know when to ask for help.

Even if you plan to establish a sole-proprietorship business , don’t pressure yourself to do everything independently. Know your strengths and weaknesses in starting a business and ask for help when needed on aspects you’re unsure of or inexperienced in doing.

You can ask family, friends, and colleagues for general advice and seek out professionals who can help propel your business to the next level.

Embrace Not Knowing Everything From The Get-Go

While I previously mentioned the importance of crafting a detailed business plan, it may not always be necessary, particularly for small-scale businesses in their initial stages.

Sometimes, an informal plan consisting of just a page or two will be more than enough to provide insight into the profitability of your business idea. From here, you can always expand the business plan as you start operating your company and get more accurate, real-time data.

Enoch Omololu

Why Register?

You will be able to access:

Content tailored to your personal preferences, Favorite content saved within your briefcase, Media advisories, newsletters, and email alerts and PR contact information

Forgot Password

Enter your email below and we'll send a link to help you access your account.

Sorry, your email address is not recognized.

An email has been sent.

Instructions on how to reset your password have been sent to the email you entered.

Ford Logo


United States | English Select a location

marketing plan for new business model

Ford Media Center


Capture your HR strategic plan on a single page

By clicking the "Continue" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.

Contact Information

All fields are required.

Company Information

Please provide the consent below

I have read, understood and accepted Gartner Separate Consent Letter , whereby I agree (1) to provide Gartner with my personal information, and understand that information will be transferred outside of mainland China and processed by Gartner group companies and other legitimate processing parties and (2) to be contacted by Gartner group companies via internet, mobile/telephone and email, for the purposes of sales, marketing and research.

By clicking the "Submit" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.

By clicking the "Begin Download" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.

How do you align HR strategy with business goals?

To drive HR strategic planning and any HR transformation initiatives, follow these five steps to create an effective human resources strategy that supports enterprise business goals:

Successfully plan and execute your HR strategy

CHROs must break down business goals into strategic implications and define priorities that drive enterprise success and create business value.

Keep your strategy aligned as business needs change

Setting strategy is only the first step; turning it into a strategic HR plan that you successfully execute is far more challenging. The process fails for a number of reasons, including lack of visibility into business goals and inadequately defined measures for success. The volatile conditions in recent years also require measures to keep the strategy aligned as business needs change. Being programmatic helps to ensure that relevant strategy is executed effectively.

Align with business strategy.  Human resources strategy should always respond to business strategy; it also should align both upward (with business priorities) and downward (with functional priorities). In a world where talent is increasingly seen as an organizational priority, HR strategy should inform and influence business strategy. 

Establish goals as part of the strategy.  Consider what constitutes long-term success for your HR function and how to prioritize goals to support enterprise strategy. Perhaps create a prioritized list of initiatives and HR goals, and evaluate the gaps between the current state and your mission-critical initiatives. 

Set criteria for measuring successful strategy execution and adaptation.  Once you’ve developed goals, identify four to seven key performance measures that describe the current level of performance of the HR function. Make sure these measures are specific, quantifiable and clearly tied to the desired performance, and use those same indicators to measure performance in the future.

Craft a clear and concise statement that captures the core of the strategy and summarizes the key objectives on which the HR function will focus over the next year. This empowers your organization’s HR professionals and employees to contribute positively to enterprise objectives. Tailor the communication to each stakeholder group to provide employees with direction for their decision making.

Relationship between Business Strategy and HR Strategy

Tackle the future of work as your organization sets strategic workforce and talent goals

It has always been critical for CHROs to prepare their organizations for the future of work (changes in how work gets done, influenced by technological, generational and social shifts). But the pandemic era has reinvented the future of work in new and unexpected ways — from increasing demands for a more human-centric employee value proposition and more seamless employee experience to tough-to-diagnose employee turnover.

Here are the 9 Future of Work Trends for 2023 :

Given the growing volume of  future-of-work-reinvented trends , HR leaders need to shortlist the most important ones on which to focus when developing HR strategies. This requires a three-step trends analysis:

Identify : Recognize trends that could affect how, when and where work is done; who or what does work; or even what work means in the near future.

Interpret : Understand the relevance and implication of a  future of work trend to your organization.

Prioritize : Involve diverse stakeholders for an inclusive process of selecting key parameters. Ensure buy-in by prioritizing trends based on objective evaluation and a comprehensive analysis.

marketing plan for new business model

Navigate business challenges and create value

Adapting to the rapidly evolving COVID-19 situation has required C-suite leaders to regularly revisit and adapt their HR strategies and tactics to track changes in business strategy and ensure their organizations’ survival and growth through strategic human resources management.

The days when strategic planning was a once-a-year, set-it-and-forget exercise are over. Today’s rapidly changing business environment requires HR strategies to adapt. Gartner research shows:

Most organizations (66%) say the top barrier to effective strategic planning is the lack of integration with business needs.

Thirty-eight percent of HR leaders state that their HR strategic planning process is not aligned to the business strategic planning calendar, and changes are not triggered by shifts in the business plans.

To respond to changes and avoid wasting time on strategic planning, CHROs should identify external and internal triggers for strategic review and monitor them continuously. To do this:

Talk with relevant stakeholders to identify business-, management- and function-driven strategy triggers for your organization.

Use this preemptive identification of triggers to act quickly when they occur instead of falling behind the rest of the business.

Once triggers are established, proactively monitor business changes to ensure the function can meet business needs as efficiently as possible and improve overall business outcomes.

Adapting HR Strategies

Plan and monitor the evolution of your organization

Workforce planning is the process by which HR leaders generate a forecast that projects the future workforce needs of their organizations. Especially now, workforce and business trends are impacting leaders’ expectations about workforce planning approaches and outcomes. 

For example, digital business transformation often changes critical skills needs, as well as planning and budgeting cycles. This is especially the case as HR adopts tactics more common to IT, such as agile methodologies and multidisciplinary fusion teams . HR’s increased use of technology solutions will similarly impact budgets and staffing to capitalize on innovations.

New ways of working demand new talent profiles across all business units. Strategic human resources management will incorporate more granular information about worker skills, capabilities, knowledge and experiences to respond to those needs.

Five types of workforce planning:

Workforce optimization : How do we optimize the assignment and distribution of tasks and processes to improve capacity utilization, productivity and other business outcomes?

Workforce scheduling optimization : How do we optimize workforce schedules to meet compliance and fair scheduling needs while ensuring that we can hit business targets?

Operational workforce planning : How do we plan for the right number and types of workforce resources to hit projected business targets and make sure we are executing on that plan?

Organization modeling and transformation management : How do we align resources to our new organization structure following a significant transformation (for instance, restructuring, merger and acquisition, divestiture and reduction in force)?

Strategic workforce planning : What are the workforce implications of our organization’s short- and long-term strategy? Will we have the right resources? If not, how could we get them?

Goals of workforce planning include:

Aligning talent planning with the strategic business plan

Identifying key workforce risks in the short, medium and long term

Creating a talent strategy to mitigate potential workforce risks

Mapping out critical skills needed in existing roles

Ensuring talent readiness for future business needs

Filling current and projected talent gaps

Recruiting future talent for the organization

Preventing attrition

Workforce Planning

It’s important for CHROs to make sure they and their HR leaders carve out time and resources to conduct workforce planning effectively, as few organizations have specific roles or teams dedicated to these efforts. Larger organizations might benefit from specialist full-time employees in a dedicated role.

Six key steps in strategic workforce planning :

Prioritize skills according to enterprise goals

As part of strategic workforce planning, it is essential for HR leaders to identify whether the organization has the capabilities and skills it needs to achieve its business goals. It’s also critical to incorporate plans to address skills needs directly into HR strategies.

Skills are a foundational element for managing the workforce within any industry. Improving and automating the detection and assessment of skills enables significantly greater organizational agility. Especially in times of uncertainty, or when competition is fierce, organizations with better data on skills can adapt more quickly by more accurately identifying which opportunities are feasible immediately and which require more investment over time.

Gartner research shows that headed into 2022, building critical skills and competencies was a priority for 59% of HR leaders — and the challenge remains complex. 

Many of today’s new and emerging skills are also difficult to obtain, so HR leaders first need a way to sense shifts in skills needs dynamically. This allows them to:

Anticipate needs as they occur, rather than trying to predict the future, and adapt to those shifts in an iterative, course-corrective way

Develop skills at the time of need by identifying and implementing skills accelerators — strategies that leverage existing resources (e.g., content, people and skills adjacencies) to develop new skills solutions at speed

Enable employees to make skills decisions dynamically, such as by creating channels for them and the organization to exchange skills information for mutually beneficial and flexible skills development 

Prioritizing skills according to enterprise goals will help HR leaders understand the key talent issues they will need to tackle.

Critical Workforce Skills and Competencies

Most organizations will need to deploy multiple talent strategies to acquire hard-to-find critical skills. This involves combining build, buy, borrow, rent and other strategies depending on the particular needs and circumstances.

All processes related to workforce planning use data and analytics intensively, making labor market intelligence and talent analytics (also known as HR analytics, workforce analytics and people analytics) critical for HR leaders to use in:

Forecasting the future workforce 

Creating long- and short-term sourcing plans

Pinpointing emerging roles and skills and identifying skills gaps

Analyzing competitor hiring trends

Discovering new competition for key talent

Understanding market disruptors

Drive business productivity with HR Technology

Pandemic-accelerated trends continue to transform how organizations acquire, develop, motivate, reward, serve and manage talent. Technology has emerged as an essential tool in responding to uncertainty and creating a more human-centric but adaptive and composable organization . HR technology, in shaping employee experience and driving business productivity, is therefore an increasingly critical component of successful HR strategy.

Increasingly, designers of human capital management (HCM) applications aim to improve the candidate, worker, learner and manager experiences, while acknowledging that most employees spend relatively little time using these applications. Many applications have a conversational user interface or use insights from behavioral science disciplines to engage users, influence behaviors and contribute to improvements in organizational culture. Continuous learning, listening, feedback and performance management are also becoming necessary to support hybrid and agile ways of working. HR technology shapes employee experience and impacts business productivity.

But amid continual hype around technology trends , HR leaders must understand their own needs and capabilities as they plan to add technologies within HR processes and existing applications. Aim to improve the employee experience by resisting one-size-fits-all solutions, and instead deploy flexible, human-centric HR processes and tools to meet diverse workforce needs.

The core functional pillars of HCM applications are:

Administrative HR: Core HR organizational and employee data management, employment life cycle processes, transactional employee and manager self-service benefits, and payroll administration

Talent management: Recruiting, onboarding, performance management, compensation allocation, career and succession planning, learning and development, and workforce planning

Workforce management: Time capture, absence management, scheduling, task and activity tracking, budgeting and forecasting

Integrated HR service management: Content delivery via a portal and knowledge management capabilities for employees and managers, which may include case management (ticketing/routing), business process management tools and digital document management

HR Technology

Innovation in the HCM technology market is driven by:

Technological advances, including artificial intelligence , augmented reality and virtual reality

Increased focus on skills management, as existing HR applications do not support current business requirements

Wider macro and social developments surrounding the nature and evolution of work practices and policies, such as the increasing importance of diversity, equity and inclusion , automation, remote working and the growth of the gig economy

Customer demand and extension requests, with functional gaps often being filled through an ecosystem of partners

To support ongoing pandemic responses and prepare for subsequent economic uncertainty, the following technologies have attracted renewed interest:

Internal talent marketplaces

Ontology-based skills graphs

Voice of employee

Learning experience platforms

Workforce planning and modeling

Gartner ReimagineHR Conference

Join your peer CHROs and senior HR executives from leading organizations to discuss specific HR challenges and learn top HR trends and priorities.

marketing plan for new business model

Related resources

marketing plan for new business model

The Top 5 HR Trends and Priorities for 2022

Explore five emerging HR trends, priorities and action steps to focus on for the year ahead.

marketing plan for new business model

Leadership Vision for 2023: Chief HR Officer

Set and execute a winning leadership vision for 2023.

marketing plan for new business model

CHRO Global Leadership Board

Develop the next generation of HR leaders and drive individual and business success.

marketing plan for new business model

Frequently asked questions

What is hr strategy.

Human resources (HR) strategy defines which HR and workforce practices and activities to pursue and improve to deliver outcomes that will drive enterprise business goals.

What is needed to execute your HR strategy?

How does technology fit into HR strategy?

HR technology is a critical component of a successful HR strategy, as it plays an important role in shaping employee experience and driving business productivity.

Drive stronger performance on your mission-critical priorities.

New Model Pharmacy Business Plan Students are to submit a research...

New Model Pharmacy Business Plan

Students are to submit a research paper outlining their original Entrepreneurial Venture while referencing readings, case-studies and lectures.

For each section be sure to reference at least two sources from course material. Course Material is given below: 

 https://app.perusall.com/courses/mba-510-economics-of-new-ventures-spring-2023/the-startup-owners-manual-the-step-by-step-guide-for-building-a-great-company-by-steve-blank-bob-dorf-2012-2?assignmentId=45BchLpr28ckL4nLn&part=1 In addition be sure to cite two other outside sources. This may be from an additional case study or reading.

  Paper should be between 8-10 pages .

  Please use APA format to cite sources.

  Details part should cover in paper are given below: 

  Market Opportunity:

• Does the company solve a real problem? How big is the problem? (e.g., Total Addressable Market, Serviceable Addressable Market, Serviceable Obtainable Market) •

•Make the problem easy to understand and relatable for the audience.

•What are the "pain points" being removed for the customer

•Discuss the overall size of the market, the market you can reach and the portion of the market you can obtain.

Market Size: 

What are the Market size of your business plan. 

Value Proposition/Market Validation:

• How strong is the idea to solve the problem? What customer discovery information is there validating that the market wants this solution?

•Describe your business concept in terms of a direct solution to problem you just described.

•Be specific about the value your concept provides to a specific and identifiable customer segment

•Refer to Value Proposition Canvas

Business Model:

How will the company make money? 

Does the business model support building a sustainable company?

•Be very clear on how your product will make money and scale

•Or be very clear for how your product will improve the community and service that community while still making a profit

•Show your platform by explaining how your product will work and how it will engage with the customer.

  Give Value Proportions Canvas:

What are the Market competition of your New business plan:

• Who are the competitors and how is your solution better and/or different?

•Reference Competitive Strategy and WHAT MAKES A TRANSFORMATIVEBUSINESS MODEL) as well as the video The Five Forces that Shape Strategy

.•Cost Leadership, Nice (focus), or differentiation

•Must compete on something different and be strategic about why.

  Explain your Business Model:

How will the company make money?

 Does the business model support building a sustainable company?

  Go-to-Market Strategy:

Is there a clear strategy to introduce the product to the market and grow revenues

Connect the dots you have established to produce a narrative that links the following:

•Define customer segment (who and where they are located)

•Explain how you will reach them (communication and physically/virtually and partnerships)

•What are the next steps to grow your customer base and increase revenue.

Answer & Explanation

Executive Summary: The proposed venture is a new model pharmacy that aims to disrupt the traditional pharmacy industry by providing an innovative, customer-centric approach to medication management. The new model pharmacy will utilize technology to provide personalized medication management services, including prescription refills, home delivery, and virtual consultations with pharmacists. The business will generate revenue through medication sales and delivery fees.

Market Opportunity: The pharmacy industry is a large and growing market, with a total addressable market (TAM) of over $500 billion in the United States alone. The current pharmacy industry is largely dominated by large chain stores, with little emphasis on personalized medication management services. This provides a significant opportunity for a new model pharmacy that can differentiate itself through innovative technology and a focus on customer service.

Value Proposition/Market Validation: The new model pharmacy will provide a direct solution to the problem of inefficient medication management and lack of personalized service in traditional pharmacies. Market research has shown that customers are dissatisfied with the current pharmacy experience, including long wait times, limited access to pharmacists, and difficulty managing medication regimens. The new model pharmacy will address these pain points by providing personalized medication management services and virtual consultations with pharmacists. The value proposition canvas shows that the new model pharmacy will provide superior customer value through its unique combination of services.

Business Model: The new model pharmacy will generate revenue through medication sales and delivery fees. The business model supports building a sustainable company by leveraging technology to streamline operations and reduce overhead costs. The new model pharmacy will offer a competitive advantage through its focus on personalized medication management services and virtual consultations with pharmacists. The platform will be designed to engage customers through user-friendly interfaces and personalized medication reminders.

Market Competition: The new model pharmacy will compete with traditional pharmacy chains and other online pharmacy services. The new model pharmacy will differentiate itself through its focus on personalized medication management services and virtual consultations with pharmacists. The competitive strategy will focus on differentiation through superior customer service and leveraging technology to provide a seamless customer experience.

Go-to-Market Strategy: The go-to-market strategy will focus on targeting specific customer segments, including seniors and individuals with chronic conditions. The new model pharmacy will leverage partnerships with healthcare providers and insurance companies to expand its customer base. The strategy will also include targeted marketing campaigns and social media outreach to engage with potential customers. The next steps for growing the customer base and increasing revenue will include expanding the platform to include additional services and partnerships.

Conclusion: The new model pharmacy represents an innovative and disruptive approach to the traditional pharmacy industry. By leveraging technology and a customer-centric approach to medication management, the new model pharmacy has the potential to capture a significant portion of the growing pharmacy market. The business model supports building a sustainable company, and the go-to-market strategy is focused on expanding the customer base and increasing revenue. With its unique value proposition and competitive advantages, the new model pharmacy is well-positioned for success in the rapidly evolving healthcare industry.

Executive Summary: The Executive Summary is a brief overview of the entire venture, highlighting the key aspects of the business plan. This section should be written last and should capture the essence of the business plan in a concise manner. It should highlight the problem being solved, the target market, the unique value proposition, the business model, and the go-to-market strategy.

Market Opportunity: The Market Opportunity section should clearly outline the problem the company solves and its size. It should also provide an understanding of the pain points being removed for the customer. Total Addressable Market (TAM) is the total number of potential customers for the company's product, whereas Serviceable Addressable Market (SAM) is the portion of the TAM that the company can realistically serve. Serviceable Obtainable Market (SOM) is the portion of SAM that the company can actually reach. It is important to have a clear understanding of these terms and how they relate to the company's market opportunity.

Market Size: The Market Size section should provide a detailed analysis of the potential market for the business. This includes the total number of potential customers, the percentage of the market that the company can realistically capture, and the projected revenue. The analysis should be based on current market trends, competitor analysis, and the company's unique value proposition.

Value Proposition/Market Validation: The Value Proposition/Market Validation section should provide a clear understanding of the problem being solved and the unique value proposition of the company's product. It should also provide evidence of market validation, which is an understanding of the target market's pain points and how the company's product solves them. The Value Proposition Canvas is a useful tool to outline the customer segments, their pain points, the products/services that address those pain points, and the unique value proposition of the product.

Business Model: The Business Model section should clearly outline how the company will make money and how the business model supports building a sustainable company. The model should be clear and concise and should show how the product/service will make money and scale. The business model should also explain how the product will improve the community and service that community while still making a profit.

Market Competition: The Market Competition section should provide an understanding of who the competitors are and how the company's solution is better and/or different. This analysis should reference competitive strategy and what makes a transformative business model. The company should choose whether to compete on cost leadership, niche (focus), or differentiation. It should be strategic about why the company chooses to compete on that factor.

Business Model Explanation: The Business Model Explanation section should provide a clear explanation of how the company will make money and how the business model supports building a sustainable company. The model should be clear and concise and should show how the product/service will make money and scale. The business model should also explain how the product will improve the community and service that community while still making a profit.

Go-to-Market Strategy: The Go-to-Market Strategy section should provide a clear understanding of how the company will introduce the product to the market and grow revenues. This should include a definition of the customer segment, an explanation of how the company will reach them (communication and physically/virtually and partnerships), and the next steps to grow the customer base and increase revenue.

In summary, a successful new model pharmacy business plan must provide a clear understanding of the problem being solved, the unique value proposition of the company's product, and how the company will make money and build a sustainable business model. It should also provide a clear understanding of the market opportunity and market size, the competitive landscape, and the go-to-market strategy.

Related Q&A

Ford reverses plan, vows to keep AM radio for its electric, non-electric vehicles

marketing plan for new business model

Ford CEO Jim Farley announced Tuesday morning that the automaker is reversing its previous plan to remove AM radio from vehicles, both electric and gasoline-operated, in 2024.

Farley, in a post on his LinkedIn professional page and a tweet on Twitter, said:

"After speaking with policy leaders about the importance of AM broadcast radio as a part of the emergency alert system, we've decided to include it on all 2024 Ford & Lincoln vehicles. For any owners of Ford EVs without AM broadcast capability, we’ll offer a software update. Customers can currently listen to AM radio content in a variety of ways in our vehicles — including via streaming — and we will continue to innovate to deliver even better in-vehicle entertainment and emergency notification options in the future. Thanks to our product development and manufacturing teams for their quick response to make this change for our customers.”

Ford will add the AM radio option to its 2023 Ford F-150 Lightning and Mustang Mach-E now through a software update, Ford spokesman Alan Hall confirmed to the Free Press. In addition, Ford will not remove the AM option from its internal combustion engine vehicles in 2024 as had been decided initially.

Crisis communications

Tesla has not offered AM radio in its vehicles for years. Forbes listed in an article on April 14 automakers, including BMW, Porsche, Audi, Volvo, Volkswagen, Volvo and Tesla, as phasing out AM radio with its electric vehicles

The Detroit Free Press reported April 21 news of the change, which stirred an outcry on social media about reduced access to live traffic updates and weather reports. Broadcasters and elected officials have expressed concern about access to emergency broadcasts during crisis situations.

Then-Ford spokesman Wes Sherwood told the Free Press in April , "We are transitioning from AM radio for most new and updated 2024 models. A majority of U.S. AM stations, as well as a number of countries and automakers globally, are modernizing radio by offering internet streaming through mobile apps, FM, digital and satellite radio options. Ford will continue to offer these alternatives for customers to hear their favorite AM radio music, news and podcasts as we remove amplitude modulation — the definition of AM in this case — from most new and updated models we bring to market."

Ford had never planned to change AM radio in its commercial vehicles because of long-standing contract language.

Ford wins praise on Capitol Hill

Curtis LeGeyt, president of the National Association of Broadcasters (NAB), told the Free Press on Tuesday the organization "commends Ford for committing to keep AM radio in their vehicles, which will keep Americans safe and informed, particularly in times of emergency. With tens of millions of listeners, AM radio continues to serve as a vital lifeline to the public and a critical source of community news and exchange of diverse ideas."

He added, "In light of Ford’s announcement, NAB urges other automakers who have removed AM radio from their vehicles to follow Ford’s lead and restore this technology in the interest of listeners and public safety."

LeGeyt praised bipartisan lawmakers who are fighting to keep AM in vehicles.

U.S. Sen. Edward Markey, D-Massachusetts, put out a news release on Tuesday praising Ford.

Markey, as a member of the Commerce, Science and Transportation Committee and coauthor of the AM for Every Vehicle Act, said, "Ford’s reversal reflects an overdue realization about the importance of AM radio, but too many automakers are still going the wrong direction.”

Tesla, GM, BMW, Volvo, Porsche in spotlight now

On May 15, U.S. Rep. Greg Pence , R-Indiana, and Communications and Technology Subcommittee Chair Bob Latta, R-Ohio, led 102 colleagues in sending a letter to automakers expressing concerns about the reported removal of AM radio from vehicles.

Pence mentioned in his letter concern about Volkswagen, BMW, Mazda, Volvo, Tesla, Polestar, Rivian, GM and Mercedes-Benz, removing or planning to remove broadcast AM radio receivers from all electric vehicles.

Neither General Motors nor Stellantis has confirmed plans to change AM access in its 2024 vehicles.

"We are evaluating AM radio on future vehicles and not providing any further details at this time," GM spokesman Stuart Fowle told the Free Press in April. He confirmed no change to the statement on Tuesday.

Stellantis spokeswoman Jodi Tinson told the Free Press that its product lineup including Jeep, Chrysler, Dodge and Ram is expected to continue offering AM radio.

More: Ford to drop AM radio in new models, except commercial vehicles

More: CEO Jim Farley tells industry analysts the automaker has 'been stuck in a box'

More: Ford’s relationship quality with auto suppliers has sunk, study shows

Contact Phoebe Wall Howard: 313-618-1034 or [email protected].  Read more about Ford . Follow her on Twitter  @phoebesaid .


  1. Business Marketing Plan Template Free Of How to Create A Marketing Plan

    marketing plan for new business model

  2. 6 step marketing plan business diagram

    marketing plan for new business model

  3. 12+ Sample Marketing Business Plan Templates

    marketing plan for new business model

  4. launch plan example

    marketing plan for new business model

  5. Simple Marketing Plan Template Word Inspirational How to Create A

    marketing plan for new business model

  6. Brand Strategy Proposal Template

    marketing plan for new business model


  1. Marketing plan part 3 !

  2. How to Create a Best Marketing Strategy In Business Plan

  3. Marketing plan part 4 !


  5. The marketing plan

  6. How you can make 250k in 90 days


  1. What Is a Marketing Plan? And How to Create One

    A marketing plan is a document that a business uses to execute a marketing strategy. It is tactical in nature, and, as later sections of this article explore, it typically includes campaign objectives, buyer personas, competitive analysis, key performance indicators, an action plan, and a method for analyzing campaign results.

  2. How To Write A Marketing Plan

    Research. It is important to know what other people besides you think about your company, so spend some time before writing your marketing plan talking to employees, customers, shareholders and ...

  3. What is a Marketing Plan & How to Write One [+Examples]

    Outline your plan's contributors and their responsibilities. 1. State your business's mission. Your first step in writing a marketing plan is to state your mission. Although this mission is specific to your marketing department, it should serve your business's main mission statement. Be specific, but not too specific.

  4. 5 Steps to Create an Outstanding Marketing Plan [Free Templates]

    Triggering event. 5. Competitor Analysis. Including a competitive analysis is essential when creating a marketing plan. Your buyer persona has choices when it comes to solving their problems, choices in both the types of solutions they consider and the providers that can administer those solutions.

  5. PDF Marketing Plan Template

    business you are planning, some of the information may not be relevant. If this is the case, feel free to skip or adapt parts of the plan to fit your business model. The Microsoft Excel worksheets have been included to assist you in gathering information. You can complete and incorporate them as part of your plan; include them in the Appendix ...

  6. The Easy Guide to the Business Model Canvas

    The Business Model Canvas is a strategic management tool that lets you visualize and assess your business idea or concept. It's a one-page document containing nine boxes that represent different fundamental elements of a business. The business model canvas beats the traditional business plan that spans across several pages, by offering a much ...

  7. Marketing Plan

    The purpose of a marketing plan includes the following: To clearly define the marketing objectives of the business that align with the corporate mission and vision of the organization. The marketing objectives indicate where the organization wishes to be at any specific period in the future. The marketing plan usually assists in the growth of ...

  8. 8.5 Marketing Strategy and the Marketing Plan

    All good marketing plans are living, breathing documents that help you measure success while allowing for course corrections when necessary. Table 8.8 provides the standard components of a marketing plan. Provides a snapshot of the whole plan, including profit potential and major strategic ideas.

  9. 10 Types of Marketing Models

    7Ps marketing mix. The 7Ps in a marketing mix stand for product, price, place, promotion, people, process and physical evidence. The marketing mix is a widely -sed marketing model that helps organize the stages of a business strategy from its conception to its evaluation. By using the 7Ps breakdown, you can analyze each aspect of your company ...

  10. Business Models: Types, Examples and How to Design One

    Example: Some news and internet publishing companies use a freemium model, where some or all content is free but premium content or special features are paywalled. 11. Advertising or affiliate ...

  11. How to Write a Marketing Plan [With 20+ Templates]

    1. Start with an executive summary. The executive summary usually goes at the beginning of your marketing plan. It's basically a short summary or brief overview of your company and the key takeaways from the entire marketing plan. Here's an executive summary template you can edit and use for your own business.

  12. 7 Examples of Marketing Plan and Why They Work

    It covers every critical aspect of a marketing plan, and you can easily edit and customize it for your business. 7. Smartsheet. With this pre-built marketing plan template from Smartsheet, you can outline the purpose of your business, its strategic goals, its target market, and its standards of performance, ensuring you have a thorough plan of ...

  13. What Is a Marketing Plan? Types and How to Write One

    Marketing Plan: A marketing plan is a business's operational document for advertising campaigns designed to reach its target market . A marketing plan pulls together all the campaigns that will be ...

  14. Business model frameworks for your business canvas or marketing plan

    1. Value proposition. This is at the heart of what the business offers to its audiences and is arguably most to important success. 2. Customer segments. Different target audiences the value propositions will appeal to. In the business model canvas, the alternatives recommended are mass market, niche market, segmented (broken down further) or a ...

  15. Why You Need a Go-to-Market Strategy

    A go-to-market strategy provides a step-by-step template for success. Product launches can be exciting. A successful launch can be a breakout moment for a company, driving new revenue, increasing market share, and setting a business apart from its competitors. But an unsuccessful launch can do the opposite - wasting valuable resources, losing ...

  16. What Is a Business Model?

    In The New, New Thing, Michael Lewis refers to the phrase business model as "a term of art.". And like art itself, it's one of those things many people feel they can recognize when they see ...

  17. Business Plan Template for a Startup Business

    What this business plan template includes. Writing a business plan for a startup can sometimes seem overwhelming. To make the process easier and more manageable, this template will guide you step-by-step through writing it. The template includes easy-to-follow instructions for completing each section of the business plan, questions to help you ...

  18. How to Create an Expert Business Model: A Detailed Guide

    Make it interactive by adding clickable elements to your business plan, financial statements or other documentation. 2. Bundling Business Model Template. A bundling business model offers standalone products while also offering "bundles" or "kits" of multiple products in one for a much more appealing price point.

  19. How to create a winning marketing plan (with examples)

    Example: If your brand is fun and approachable, make sure that shows in your creative efforts. Create designs and CTAs that spark joy, offer entertainment, and alleviate the pressure in choosing a partner. 6. Operationalize your marketing plan. It isn't just creation and promotion; it is process as well.

  20. Marketing and sales soar with generative AI

    The rise of AI, and particularly gen AI, has potential for impact in three areas of marketing and sales: customer experience (CX), growth, and productivity. For example, in CX, hyper-personalized content and offerings can be based on individual customer behavior, persona, and purchase history. Growth can be accelerated by leveraging AI to ...

  21. What is a Business Model with Types and Examples

    Business Model: A business model is a company's plan for how it will generate revenues and make a profit . It explains what products or services the business plans to manufacture and market, and ...

  22. Craft a business plan with marketing and financial model

    I have read and understood all your project details "Craft a business plan with marketing and financial model" and I feel my self the best candidate to complete this project with 100 percent accuracy. ... Craft a business plan with marketing and financial model I am an award-winning content and copywriter passionate about ... New brand identity ...

  23. How To Start A Small Business: 10 Key Steps For Beginners

    To do so, visit your state's business agency, and complete the necessary registration steps. These typically involve paying a filing fee, choosing a registered agent to manage your business ...

  24. Company Says Ford+ is Maximizing Value for Customers, Improving

    DEARBORN, Mich., May 22, 2023 - Less than two quarters into full deployment, the teams behind the Ford+ growth plan's new customer-centered business segments are redefining customer value, while at the same time reducing cyclicality, improving capital efficiency, and generating profitable growth and strong free cash flow.

  25. HR Strategy: What is it and How to Create One

    To drive HR strategic planning and any HR transformation initiatives, follow these five steps to create an effective human resources strategy that supports enterprise business goals: Understand your organization's mission, strategy and business goals. Identify the critical capabilities and skills. Evaluate the current capabilities and skills ...

  26. [Solved] New Model Pharmacy Business Plan Students are to submit a

    New Model Pharmacy Business Plan. Students are to submit a research paper outlining their original Entrepreneurial Venture while referencing readings, case-studies and lectures. ... The strategy will also include targeted marketing campaigns and social media outreach to engage with potential customers. The next steps for growing the customer ...

  27. New owners plan 'subtle' menu changes at Michael's Family Restaurant in

    Michael's Family Restaurant in West Allis has new owners, and they're planning "subtle menu tweaks." Samuel Speaker and Lee Gonzalez, under an entity called KLO Holdings LLC, acquired the ...

  28. Ford reverses plan on AM radio for new electric, non-electric vehicles

    Then-Ford spokesman Wes Sherwood told the Free Press in April, "We are transitioning from AM radio for most new and updated 2024 models.A majority of U.S. AM stations, as well as a number of ...