entrepreneurship presentation
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Marketing plan
How to create a business plan
& Promotion analysis
IBMS403Ashley Wang 0814412Betty Tong 0815287Elaine Su 0815818Ivory Wu 0812283Joenny Cao 0915062Kelvin Zhang 0812016
START HERE
Financial budget
Place
Product
Mission & Vision
Introduction
Content
Price
Promotion
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IntroductionEssentially the Marketing
Plan:
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Ø Fully understanding the results of past marketing decisions
Ø Setting future goals and provides direction for future marketing
Ø Key component in obtaining funding to pursue new initiatives
Ø Fully understanding the market in which they operate
Reasons of a marketing plan needed
Annually marketing planning process
No.1
To introduce something new, or trying to fix an existing problem.
No.2
A component within an overall business plan
No.3
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Mission
A mission describes the organisation’s basic function in society, in terms of the products and services it produces for its customers
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• It provides an outline of how the marketing plan should seek to fulfil the mission• It provides a means of evaluating and screening the marketing plan; are marketing decisions consistent with the mission?• It provides an incentive to implement the marketing plan
Vision
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A vision helps motivate employees. It helps set the direction of corporate and marketing strategy.
Six requirements for success:- Provides future direction- Expresses a consumer benefit- Is realistic- Is motivating- Must be fully communicated- Consistently followed and measured
Product
The product is at the heart of the marketing exchange
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Product classification
-Product-based classification
-user-based classification
Branding
Promotion Plan
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What is your unique selling points you want to deliver to your customer?
Promotion PlanStep 1: Utilize the promotion mix
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Advertising The Internet, television, radio, newspapers, magazines,
billboards, etc
Offering free samples, coupons, tradeshows/exhibitions, product demonstrations
Sales presentations, sales meetings, sales training, telemarketing
Personal sel
ling
Sales promo
tion
Direct marketing
Newspaper and magazine articles/reports, TVs and radio presentations, charitable contributions, speeches, seminars
Mobile messaging, e-mail, interactive consumer websites, online display ads, fliers
Promotion PlanThe promotion mix
Public relations
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Advertising Frequency, cost, build brand image, stimulate short-term sales
Using of various format, attract attention, stimulate quick response
Effective, convictions, personal interaction, feedback and adjustment, long-term commitment
Personal sel
ling
Personal sel
ling
Sales promo
tion
Public relations
Public relations
Direct marketing
Direct marketing
Highly credible, relatively inexpensive, build corporate image
Various forms, four distinctive characteristics: Nonpublic, Immediate, Customized, Interactive, well-suited to highly-targeted marketing efforts
Promotion PlanStep 2: Evaluate the promotion mix
Promotion PlanStep 3: Consider Product life cycle
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Promotion PlanStep 4: Make decision
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Decide upon the best way to leverage the different elements of the mix to maximize the return on your investment
Balance the various parts of the promotion mix
Define total budget first
Place (Distrubition)
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Product distribution (or place) refers to how you're an organization will distribute the product or service they are offering to the customer.
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Place ( Distribution )The distribution channel
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Place ( Distribution )The types of channel intermediaries
- Wholesalers- Retailers- Distributors- Franchisees- Agents and brokers
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Place ( Distribution )Distribution strategies
Intensive distribution
Selective distribution
Exclusive distribution
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PricePricing strategy
Ø What is the cost of your product or service?
Ø How does the pricing of your product or service comparing to the market price of similar products or services?
Ø How the pricing of your product or service is competitive?
Ø What kind of Return On Investment do you expect with this pricing strategy?
The price you charge has to be competitive but still allow you to
make a reasonable profit.
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Financial SummaryWhat is the budget ？
A budget is the place where you link all of the rest of your planning to numbers and timing
A budget is the roadmap where you believe you want to go
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Financial SummaryPro-forma monthly income statements
Definition
1. An important tool for planning future business operations2. Providing an important benchmark or budget 3.Providing you with invaluable information
How to Create
Estimating final sales and expenses for the current year
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Financial SummaryAnalysis of calculations
Breakeven analysis: A company has broken even when its total sales or revenues equal its total expenses. The breakeven point is the lower limit of profit when determining margins.
Breakeven Point = Fixed Costs/(Unit Selling Price - Variable Costs)
Contribution margin analysis: Above the breakeven point, every additional unit sold increases profit by the amount of the unit contribution margin, which can be used as a measure of operating leverage.
Unit Contribution Margin = Sales Price - Variable Costs
