The framework for a basic marketing plan for the startup venture, a company producing healthy snacks, consists of several stages, which should be implemented in an orderly fashion. First, it is necessary to start with the definition of target customers and their needs (Lindley, 2018). In this case, they will be young people aged 20 to 30 leading a healthy lifestyle and willing to purchase food while being away from home. For example, they will be able to buy the products while exercising outside, which is convenient. Second, it is vital to rent a store near parks and other locations popular among the representatives of the specified population group. Third, it is critical to develop an advertising campaign online and inform the citizens about the new shop.
In this way, the principal strategic elements include people, a premise, and the presence in social media. Further actions will be performed in accordance with the c the SOSTAC® structure proposed by PR Smith, which contains five parts (Lindley, 2018). First, the set goal is to be profitable in one year, and it will be achieved with the help of customer insight received through online surveys and regular competitor analyses to provide an advantage (Lindley, 2018). Second, the established vision will be presented to the public, and business objectives will be assessed by the performance within the first month. Third, the elaborated strategy will also be subject to readjustments every month, depending on the results. Fourth, additional actions will be taken in case of emerging issues. Fifth, the production and realization processes will be timely assessed and changed if needed. In this way, the startup will become profitable due to the greater degree of flexibility and the managers’ capability to make changes.
Reference
Lindley, S. (2018). How to structure an effective marketing plan. Smart Insight.