Marketing Plan: An Essential Tool for Effective Social Entrepreneurship

Marketing is one of the key domains that determine the success of a social enterprise. To initiate the process, a marketing plan is requisite and it constitutes of measurable aims together with the strategies to achieve them. Implementation of the marketing procedures/strategies then follows while analyzing and fine-tuning to ensure the goals are adhered to. These strategies are often termed as the six building blocks of Marketing.

Information procedures used to assess the market via continuous collection and reporting of marketplace data, while still acting upon it.

Corporate image procedures employed to protect and enhance an enterprise’s image.

Positioning procedures used to identify the target group with a specific need, so as to cater for that necessity better than competitors via the introduction of a unique compelling product/service.

Product pricing procedures which consider both the seller and the target audience.

Distribution procedures which make a product/service accessible and convenient for the target community.

Promotion procedure which reveal a product’s benefit in a compelling way to in turn prompt purchasing initiative.

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