An important part of this course is applying what you have learned to real examples You will apply marketing concepts to yourselves to create a marketing plan that describes your target market for future employment, likely competition, major selling points, and a marketing mix to market your personal brand (including a resume)

The marketing plan includes deciding the target market, analyzing competition in the market, selling points, and the marketing mix. An understanding of these concepts will help businessmen develop a strong market plan. Let’s understand these concepts in detail.

• Target market: before producing goods or services, a business owner should analyze the target market and understand the tastes and preferences of the consumers in the target market. A businessman can target his market on the basis of age, gender, income, and others. Setting a target market is the most important part of a business plan. After selecting a target market, a businessman should produce goods according to the demands of the people he chooses to target.
• Competition: another main concept of a business plan is to identify the competition in the industry. Identifying the competition in the market and the strategies used by the competitors help the businessman to get prepared for future threats for the competitors.
• Selling points: a businessman should decide the main features of his product. In other words, he should determine what features his product will be known in the market. He should be able to plan major selling points and advertise those to the consumers in order to attract them.
• Marketing mix: marketing mix includes four Ps that are product, price, place promotion. A businessman should keep in mind these four Ps all the time in order to maximize his profits.

* Product: a businessman should ensure that the product created by his production team is of great quality and is beneficial for the consumers.

* Price: a businessman should ensure that the prices of the products should reflect its worth. The prices should be kept keeping in mind the income of consumers.

* Place: a businessman should establish a strong supply chain so that all the consumers are able to get timely delivery of goods they wish to purchase. The distribution channel should be efficient, and all the agents in the distribution channel should be efficient.

* Promotion: lastly, after setting up all the above strategies, a businessman should promote his goods and services to the consumers. Promotion includes activities like advertising, public relation, and others. A businessman should ensure that his advertisements creative enough to attract consumers.