Whether you want to market your invention, sell it to a manufacturer, or license it, you need to have a good marketing plan in place. A well-written marketing plan will help you understand the environment where your product will exist, sell your product, and ultimately make you more successful.
A marketing plan should cover the following:
• Market research: surveys, focus groups, or secondary research
• Target market segments: characteristics, needs, trends
• Competitive analysis: what do your competitors offer, for what price, what features do they have
• Differentiation: how will you be unique and different from your competitors, you need to stand out
• Pricing strategy
• Marketing and advertising execution strategy
• Sales strategy
Start with an outline of the marketing plan, and then write as you go. Your plan is a living document and will change over time. After a few major revisions, consider starting from scratch with a clean slate to help you think clearer.
- Bryan Daigle
President & Founder of ideatango.com – the #1 site for inventors & invention ideas For more good info & advice, check out the official IdeaTango Blog
Good outline. I think breaking it down into managable steps is critical. Otherwise it just gets set aside as too overwhelming.