Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a car rental business plan, your marketing plan should include the following:
Product: in the product section you should reiterate the type of car rental that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to leisure and business vehicle rentals, will you provide car sharing services?
Price: Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.
Place: Place refers to the location of your car rental business. Document your location and mention how the location will impact your success. For example, is your car rental business located next to an airport, or a car repair shop, etc. Discuss how your location might provide a steady stream of customers.
Promotions: the final part of your car rental marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Advertising in local papers and magazines
- Reaching out to local bloggers and websites
- Social media marketing
- Local radio advertising
- Banner ads at local venues