MARKETING

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  • How to Create Your First Marketing Plan

    Game Plan

    In-Depth

    How to Craft a Vision Statement

    Whereas the value proposition paints a picture of your company as it is today, your vision statement is typically a one- to two-paragraph statement that outlines what your organization wants to be, and summarizes how you wish your company to be viewed both internally by employees and externally by the marketplace. Often inspirational, it includes your “vision” for the company’s direction for the near- and long-term future (i.e., “We will be the largest plumbing supplies company in the Northeast U.S.”).

    Some people interchange the terms “vision statement” and “mission statement.” But the two are quite different. A vision statement is a descriptive picture of a desired future state; a mission statement presents how you intend to achieve that vision.

    While the vision statement typically isn’t included in your plan document, it is absolutely part of your Marketing Plan. The reason? Your Marketing Plan must be consistent with the company’s overall business goals as spelled out in your vision statement. That can prevent you from undertaking a marketing initiative that doesn’t align with your company goals. (For example, if your vision is to be the largest plumbing supplier in the Northeast, it would be highly inefficient to advertise in a publication with a nationwide circulation.)

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    A great source for tips on developing your vision statement is the inc.com website. You’ll find multiple entries on the topic here. Among the best articles on the site is “Developing Effective Mission and Vision Statements.”

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