Chapter 3: Marketing plan
A Global Perspective
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I have a few projects in the pipeline but I urgently need some money to build momentum at my company. My company has operated for about a year now, I have spent most of the initial capital I invested and to date, I am still struggling for my business to survive. Recently, I received an open call that offered financial support for young and innovative enterprises and I decided to apply. Besides the enormous bureaucracy and paper work, I also had to prepare a business plan as well as a marketing plan. I had prepared a mini business plan draft prior to the opening of my business, but this time I needed a much more thorough plan that described the marketing aspects in much more detail. With the support of my colleague, a marketing expert, I spent ten days preparing the plan. Unfortunately, I was not selected. I was irritated that I had taken this time to do this, but at the same time I was glad this opportunity made me look into the details that would potentially allow my business to thrive. What I actually realized, which was also a concern, was that the primary target market group was too small.

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