Table of Contents

Introduction:....................................................2
Marketing and sales:.......................................2
Make a marketing plan:...................................2
Use these sections in your marketing plan:.....2
Target market:...............................................2
Competitive advantage:.................................2
Sales plan:.....................................................3
Marketing and sales goals:............................3
Marketing action plan:..................................3
Budget:..........................................................3
Don’t forget about operations:........................4
Payment acceptance method:..........................4
Credit Card:...................................................4
Checks:..........................................................4
Cash:..............................................................5
Online payments:..........................................5
Introduction:
Marketing and sales are concerned with the exploration and
understanding of customer needs, the response to them through the
development, production, and sale of goods and services (including the
implementation of innovation), and the impact on customer needs in accordance
with the organization's strategic goals.

Marketing and sales:

Create a marketing strategy to persuade customers to buy your products
or services, and then decide how you'll accept payment when the time comes to
sell.

Make a marketing plan:

Marketing requires time, money, and planning. Making a marketing plan
is one of the best ways to stay on track and within budget. It outlines the steps
you'll take to persuade potential customers to purchase your goods or services.
The key components of your marketing strategy should be included in your
business plan. Your marketing strategy is translated into action by your
marketing plan.

Use these sections in your marketing plan:

These topics are covered in most marketing plans. Always use what
works best for your company.
Target market:
Describe how your product or service differs from the competition. It
could be a better product, a lower price, or an outstanding customer service
experience. Customers may value an environmentally friendly certification or
"made in the USA" label on your product.
Competitive advantage:
Describe how you plan to sell your service or product to customers. List
the sales channels you intend to use, such as retail, wholesale, or your own
online store. Explain each step your customer takes after deciding to purchase.
Sales plan:
Describe your target audience in great detail. Consider the market's size,
demographics, and unique features.
Describe how you plan to sell your service or product to customers. List the sale
s channels you intend touse, such as retail, wholesale, or your own online store.
Explain each step your customer takes after deciding to purchase.
Marketing and sales goals:
Describe your marketing and sales objectives for the coming year. Comm
on marketing and sales objectives include increasing email subscribers, increasi
ng market share, or increasing sales by a certain percentage.
Marketing action plan:
Describe how you intend to meet your marketing and sales
objectives. List the marketing channels you intend to use, such as online adverti
sing, radio ads, or billboards.
Describe your pricing strategy and how you intend to use promotions. Consider
the customer service that occurs after the sale. The federal government regulates
advertising and labelling for a variety of consumer products, so make sure your
is legal.
Budget:
Include a detailed breakdown of your marketing plan's costs. Try tobe as
precise as possible. Once you've put your plan into action, you'll
want to keep track of your expense. Measure and update your plan. Make a plan
to compare your marketing and sales expenses to the revenue generated. You
want to ensure that your investment yields a positive return on investment, or
ROI.
Some tactics, such as print advertising or word-of-mouth campaigns, are
difficult to quantify. Use your imagination and the advice of others, but be
consistent in how you measure the effectiveness of your marketing efforts.
Marketing plans should be updated at least once a year. Measuring ROI will
help you determine which parts of the plan are working and which need to be
revised.
Don’t forget about operations:
Although not everyone agrees on the precise distinctions between
marketing and sales, most people recognize that they are intertwined. The
impact of operations on marketing and sales is frequently overlooked.
Simple operational elements such as your staff uniform, the location of
your product's manufacture, or the product return process all contribute to your
customer's experience. That experience shapes how your customers perceive
your company and can influence whether they become a lifelong customer or
tell their friends to avoid you.

Payment acceptance method:

The payment methods you accept can have an impact on your marketing
and sales, as well as your bottom line. Accept cost-effective, secure payment
methods that provide a positive experience for your customers.
Whatever method of payment you choose, you'll need a business bank account.
Credit Card:
You'll need either a merchant services account with a bank or an account
with an independent payment processing company to accept credit and debit
cards.
You'll pay small processing fees for each credit or debit card transaction, as well
as any setup costs.
Accepting credit and debit cards puts your business at risk of fraud, but most
vendors offer some level of protection. Make use of an EMV (Europay,
MasterCard, and Visa) chip reader to reduce both fraud and liability.
Checks:
Accepting checks requires only a business bank account. To avoid bad or
fraudulent checks, you should develop a check acceptance policy. Standard
practices include only accepting checks from well-known or in-state banks, and
only accepting checks for the exact amount owed. You could also use a third-
party service to help verify the check's quality.
If a check bounces, your options for receiving the final payment will differ
depending on where you live. Some states require businesses to send a
registered letter and wait a certain amount of time before taking further action.
You could end up in small claims court or using a collection agency to get paid
for a bounced check.
Cash:
Because it is quick, simple, and inexpensive, many small businesses
operate as "cash only" merchants. If you accept cash, keep in mind that large
sums of cash can increase accounting time and pose an additional security risk.
You'll need a secure place to keep your cash, such as a register or a safe.
Cash has different reporting requirements. The IRS requires you to file a report
if your company receives more than $10,000 in cash or cash equivalent from a
single buyer in a single transaction or two or more related transactions.
Online payments:
If you sell your product or service online, you can accept payments
via your website using an online payment service.
Credit and debit cards, as well as other popular online money transfer
services, are commonly accepted by online payment services. Accepting
payments online, like accepting credit cards in a physical location, will
incur fees.
To calculate the total, tax, and shipping costs of an order, as well as
collect customer account and shipping information, online payment
services require a virtual shopping cart. Some online payment service
providers provide businesses with free shopping cart services.