Chapter 9: Marketing and Sales

Marketing and sales are critical to the success of a new firm since the firm normally starts without any customers. A new business must create a marketing and sales plan, which describes its target customers for its product offering. The plan should include a product position and a mix of price, product, promotion, and distribution channels that will attract and satisfy the customer. Gaining recognition and acceptance in a target market requires the following steps in sequence:

  • Describe the product offering
  • Describe the target customer
  • State the marketing objectives
  • Gather information through market research
  • Create a marketing plan
  • Create a sales plan
  • Build a marketing and sales staff to implement the plans