Successful businesses have extensive knowledge about their customers and their competitors. Acquiring accurate and specific information about your customers and competitors is a critical first step in market investigation and development of a marketing plan. This is critical to the success of both new and existing businesses. The market impacts and directs all aspects of the company's activities and ultimately will lead to sucess or failure of the business.

Your primary functions in developing a marketing plan are:

1) Understand the needs and desires of your customer

2) Select or develop a product or service that will meet   customer needs

3) Develop promotional material that will make the customer aware

4) Ensure product or service delivery

Click Here for more information on market research.

Also, make sure to check out the marketing section in the Small Business Toolbox for more information and worksheets.