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

THANK YOU

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