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YC Marketing Principles-part 1--Diane Phelps
 

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