YC Marketing Principles-part 1--Diane Phelps
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YC Marketing Principles-part 1--Diane Phelps

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Developing a marketing plan--part 1

Developing a marketing plan--part 1

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YC Marketing Principles-part 1--Diane Phelps YC Marketing Principles-part 1--Diane Phelps Presentation Transcript

  • Marketing PlansPart 1
  • Marketing Plan tells you:
    What economic/business environment are you experiencing?
    What opportunities/problems are your facing?
    Who are your customers?
    Why should they buy from you?
    How will you communicate with them about your product?
    How are you going to measure your success?
  • Marketing Template
    Profile of business and SWOT
    Target customer profiles
    Marketing tactics
    Executive summary
    See pages 27-29 in the text
    Review template in Class Materials
  • Developing a SWOT
    Strengths=internal to company
    Weaknesses=internal to company
    Opportunities=in the marketplace for your company
    Threats=to your company in the marketplace
  • SWOT Analysis
  • Strengths and Weaknesses--internal
    Organizational--reputation, length of time in business, employees, sales force, leadership
    Financial--stability, sales
    Marketing--strength/diversity of customer base, market share, product/service performance, product mix
  • Opportunities and Threats--external
    Capitalize on opportunities--use current or potential capabilities
    Address threats--challenge to current market position
    Possible O or T--customers, pricing constraints, competitors, distribution issues, technology, regulations, suppliers, etc.
    Include demographic info from Census data
    Use handout to construct SWOT for your business
  • SWOT Business Research Sources U.S. Census--Population
    2000 household census (www.census.gov)
    2010 census—new info coming out now
    http://factfinder.census.gov
    State and county quick facts
    http://quickfacts.census.gov/qfd/index.html
  • Secondary Research Sources for Your SWOT
    Federal, State, County, local governments
    U.S. Commerce Department
    State economic development agencies
    U.S. Census (2010) for your location
    Chamber of Commerce—local
    Local business publications/newspapers
    Trade and industry associations (for your company)
    Your hometown website
  • U.S. Census-Business
    • www.census.gov
    • Business and government
    • Economic fact sheet
    • Economic fact sheet for an industry
    • Videos posted
  • SAMPLE SWOT Analysis
  • SAMPLE SWOT
  • Competitors
    Develop 3 for your product
    Use competitor sheet provided
  • Competitive Analysis Worksheet
  • Questions?
    Email instructor with questions