Here are some of the most common mistakes found in the marketing and sales section:

• Defining your target market too widely, and assuming success will result from simply capturing a "small portion" of this enormous market.
• Unclear definition of your target market.
• Attempting to attack an entire market instead of a narrow niche.
• Making assumptions about your target market without research or concrete support.
• Not specifically identifying the mediums you will use to advertise and promote your product.
• Omitting details such as when, where, why and how you will reach your target customer - along with costs.
• Making the assumption that offering a lower price will lead to increased sales.
• Underestimating the importance of packaging, brand name, and reputation.
• Attempting to immediately fill several lucrative but unrelated markets.
• Lacking clarity about how future changes might effect your market.

For more information about preparing the marketing and sales section of your business plan, check out:

• Marketing & Sales Business Plan Basics

Email us at BizPlanIt if you have comments or suggestions about our Virtual Business Plan.