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Sit with your Groups

Sit with your Groups. Group 1 Andreas , Mala, Linda, Lucy Group 2 Rachel , Angel, Mary, Masa Group 3 Sophia , Erin, Silas, Dinh Group 4 Cody , Vladimir, Brett, William. Sample Marketing Plan.

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Sit with your Groups

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  1. Sit with your Groups Group 1 Andreas, Mala, Linda, Lucy Group 2 Rachel, Angel, Mary, Masa Group 3 Sophia, Erin, Silas, Dinh Group 4 Cody, Vladimir, Brett, William

  2. Sample Marketing Plan See Appendix , pp. 639-659 Market Strategy Market Analysis Target Market Product Pricing Distribution(Place) Promotion Sales Forecast(Pessimistic, Most Likely, Optimistic) Forecast of Marketing Expenses(Pessimistic, Most Likely, Optimistic)

  3. Pinpointing the Target Market • Who are my customers? • Now? • In the future?

  4. Who are my customers? Potential? What are they looking for? What kind of people are they? How old are they? Are they male or female? What kinds of jobs do they hold? What is their household income? Where do they live? How often do they buy these products or services? What models, styles, colors, or flavors do they prefer? Why do-or don’t-they buy from my business? From my competitor? What hours do they prefer to shop? What advertising media is likely to reach them?

  5. Geographic Where do they live? What are their addresses? • Demographic Age-How old are they? Sex-What is their sexual orientation? Race-What is their ethnic background? Education-What schooling did they finish? Income-What kind of job do they have? Spirituality-Is their religion important? • Psychographics What are their preferences? When do they buy? Who influences them? How do they want to pay? What kind of advertising will reach them? Where do they buy now? Why?

  6. Conducting Market Research • What do they want? • What do they need? • What are/aren’t they getting from their suppliers now? • What more will they want in the future?

  7. What kind of information don’t I have now? • Where can I get them? • If I am going to do primary research, who will I target? What will I use? • If I need secondary research, where will I go? WWW? Library? Chamber of Commerce? Trade Association?

  8. Discussion with Group-Marketing Plan Pinpointing the target market Who are they? Conducting market research What do they need and want? Building a competitive edge How do I serve them so I can keep them? Creating the marketing mix What is my product range? How do I attract new customers? Where do I make my products accessible? Forecasting What marketing expenses do I plan to budget? What kind of sales will I have? (3) Pricing What pricing techniques are relevant to me? At what prices shall I sell my products/services?

  9. Discussion with Group-Operational Plan • How will you produce your products and services? What will be your layout? • Where will you be located? • How many people will you have? • How much inventory will you keep? • Who will be your suppliers? • What will be your credit policies? • How will you manage accounts receivables/payables?

  10. Week of May 19-23: May 19, Managing Cash Flow May 20, Group Work May 21, Sources of Financing May 22, Group Work May 23, E-Commerce Week of May 27-30 May 27, Group Work May 28, Global Aspects May 29, Group Work May 30, Building a New Venture Team Week of June 2-6 June 2, Quiz June 3, Group Work June 4, Review June 5, Group Work June 6, Finals June 11 - Group Presentations (30 mins each)

  11. Assessment Quiz 1 (Chapters 1 & 2) 10 pts Quiz 2 (Chapters 5, 6, 7) 10 Business Model (May 19) 10 Feasibility Study (May 27) 10 Group Paper (June 11) 10 Group Presentation (June 110 10 Quiz (Chapters 9, 15 & 16) (June 2)10 Final Examination (June 6) 30 100

  12. REMINDER: Business Model (due May 19, 2008): VMG SWOT KSFs Competitive Profile Matrix Strategy Feasibility Study (due May 27, 2008): Industry Market Feasibility Analysis Product or Service Feasibility Analysis Financial Feasibility Analysis

  13. Quiz 1 Quiz 2 Business Feasibility Group Model Study Work ________________________________________________ Andreas x x xx not on sked Mala x x x x Linda x x x x Lucy x x x x _______________________________________________ Rachel x x x x on sked Angel x x xx Mary x x x x Masa x x x x _______________________________________________ Sophia x x x not on sked Erin x x x x Silas x x x Dinh ________________________________________________ Cody x x x x not on sked Vladimir x x x x Brett x x William x x x x

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