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You must know your competition in and out. Keep your friends close, but keep your competitors closer. You need to know all the things that you learned about your customers except fill in the blank for each competitor on all of those above items. Learn how you are the same/ different. Learn the similarities/differences about each product and service you offer. Learn how they sell or promote their products /services.

Corrective Plan. A marketing plan is a living document. Trust me, the moment you have it and experience planning your marketing, you will realize this. Therefore it is a plan that allows you to assess past strategies and results and at the same time allow you to make necessary corrective measures to fit your business growth. for example, who expected the 2008 financial crisis to hit us so badly? No one other than the few so called "economists" but how did responded to it? Severely. Many businesses closed including many giants. But the good thing is, many have a solid marketing and business plans, therefore they make quick corrective actions and moved forward.

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