Pricing _ I once said in my Marketing Plan Breakthrough S6PEC that, "Price is the key determinants of your profits". I stand firm to keep it that way. In your marketing plan, you will address pricing plan for your distributors, customers, multiple segments (some business charge differently _ price discrimination) and cost price i.e. your raw materials and things like that. Not many address price correctly and bear in my mind that we need to standby few pricing plan to respond to the market. Take for example during festive season, if everyone is lowering price and slashed their price or even ignited a price war, what do you do about that? Follow suit or wait? If you want to follow, how far? If you want to wait, how long? You capture all this in pricing plan.
But, I don't specifically mean my own Marketing Plan S6PEC Framework because there are so many versions and gurus out there that can give you the benefit of marketing plan. Of course I am going to say mine is a lot better because it's a practical and practitioner's guide. Other than being a consultant, I also have performed marketing manager role, entrepreneur role, business manager role, investor and student of entrepreneurship (during my MBA!). But that's not my main point. My main point is for you to have a marketing plan to guide your business. Which one? Well it is up to you!