Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a grocery store business plan, your marketing plan should include the following:
Product: in the product section you should reiterate the type of grocery store that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to regular groceries, will you offer items such as grab and go prepared meals, fresh baked goods, flowers, etc.?
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 item categories you offer and their price ranges.
Place: Place refers to the location of your grocery store. Document your location and mention how the location will impact your success. For example, is your grocery store located in a food desert, or next to a well-trafficked retail area, etc. Discuss how your location might provide a steady stream of customers.
Promotions: the final part of your grocery store 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
- Local radio advertising
- Social media advertising
- Flyers (with grocery store coupons)
- Banner ads at local venues