The development of a marketing plan Personal Statement

The development of a marketing plan - Personal Statement Example The business entrepreneur desires to launch a new business of interior decoration. The business segment of interior decoration is highly competitive in nature. The entrepreneur would not be able to successfully run its business without the help of an appropriate marketing plan. Tastes and preferences of the individuals change drastically, when it comes to interior decorations. Thus, the mogul would face high expenses in business innovation and manufacture process. Moreover, the discounts offered by the potential rivals (Wal-Mart, Home-Depot) in the market would create price pressures on the entrepreneur. The cost of inputs (catalogue resources like pottery barn) used in interior decorations are also increasing with time. So, if the entrepreneur aspires to run its new business successfully he must set up an appropriate marketing plan for the business (SBA, 2013). The entrepreneur would never be able to fruitfully market its business services if the goals and objectives of the marketing plan are not set at the beginning. The goals and objectives of the marketing plan for the interior designing business are:- The desired objectives of the business plan should be measurable in terms of target. The target of 15% growth in sales and 10% growth in profit should be achievable in reality. The target should be attained in a span of say 5 years from the date of inception of the business. It is considered that the above mentioned objectives for the marketing plan are not only specific but also achievable for the business (Westwood, 2005). The interior designing business should offer excellent services to the business clients. The designing should not only be a mark of class, but should also be superior in terms of quality. The company should maintain admirably designed retail outlets and should offer other complementary services that would impress the clients. The