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Organization & marketing plan
 

Organization & marketing plan

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2009

2009

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    Organization & marketing plan Organization & marketing plan Presentation Transcript

    • The Organizational plan
    • Developing the management team
      • Developing an entrepreneurial team
      • Full time commitment is a prerogative
      • More than the skills and the experience they bring. It is imperative that they share the vision and plan of the Entrepreneur.
    • Legal forms of Business – on ownership lines….
      • Sole proprietorship
      • Partnership
      • Company
    • Decisions for deciding forms of ownership
      • Ownership
      • Liability of owners
      • Costs of starting a business
      • Continuity of business
      • Transferability of interest
      • Capital requirements
      • Management control
      • Distribution of profits and losses
      • Attractiveness of raising capital
    • Other decisions…..
      • Organization structure
      • Building a management team and a successful organization culture
      • Appointment of board of directors
      • Appointment of board of advisors
    • The Marketing Plan
      • A marketing plan outlines the specific actions you intend to carry out to interest potential customers and clients in your product and/or service and persuade them to buy the product and/or services you offer.
      • The Marketing plan needs to answer these questions:
      • -What are your business marketing goals ?
      • -What is your target audience ?
      • - Deciding business marketing system
    • SWOT Analysis
      • A basic marketing plan begins with SWOT analysis about your company and the SWOT should be :
          • A summary of the key elements in your business
          • Brief, concise and interesting, without being too abbreviated
          • Focused on the real issues facing your company
          • Action-oriented, so that positive proposals can be envisaged
      • Strengths - You can bank upon these.
      • Weaknesses - Definitely need to be corrected
      • Opportunities - Help you in setting the target where you want to reach.
      • Threats - Make necessary contingency plan to combat threats which would automatically become a part of the marketing plan.
    • Scope of Marketing Research
      • Identifying Target Market
      • Identifying Market Characteristics
      • Measurement of Marketing Potential
      • Competitors Analysis
      • Sales Analysis
      • Identify and forecast Business Trends
      • Sales Forecasting
      • New Product/Service Acceptance and Potential
      • Long Range Forecasting of Marketing Mix Variables
      • Pricing Strategies and Studies
    • Market Research
      • How to collect certain information about your customers, market and competitors?????
      • This information tells you about your potential market, prices, trends, competition, target customer, its preferences, income, habits, accessibility, convenient time and plans.
      • This information should be accurate, and reliable to help you make the right business decision.
    • Market Research
      • Step One : Defining the Purpose or Objectives
          • Ask people what they think of the product or service and collect some background demographics & attitudes of these individuals.
          • How much potential customers would be willing to pay for the product or service.
          • Where potential customers would prefer to purchase the product or service.
          • Where the customer would expect to hear about or learn about such a product or service.
    • Market Research
      • Step Two: Gathering Data from Secondary Sources
        • Data that already exists i.e information from
          • Trade magazines
          • Libraries
          • Government Agencies
          • Universities
          • Internet
      The entrepreneur should exhaust all possible secondary data sources, observation, and networking before beginning any more costly primary data research.
    • Market Research
      • Step Three: Gathering Information from Primary Sources
        • Information that is new is Primary data and involves data collection procedures like
          • Observation
          • Networking
          • Interviewing
          • Focus Groups
          • Experimentation
      Data collection is done with the help of Data Instruments like Questionnaire.
      • . Step Four: Analyzing & Interpreting the results
      • The results should be evaluated and interpreted in response to the research objectives. The data can then be cross tabulated to give better insights and interpretations regarding the segmentation of the market.
    • Marketing Research – Analyse Complexity of Buying Behaviour CULTURAL BELIEFS & VALUES, LIFE STYLES SOCIOLOGICAL SOCIAL CLASS, STRUCTURE FAMILY/GROUP INFLUENCE,LIFE CYCLE, OPINION LEADERSHIP ECONOMIC PRICE, DELIVERY, PAYMENT TERMS, SALES SERVICE INDIVIDUAL PSYCHOLOGICALFACTORS COGNITION, LEARNING PROCESSES, INTERPERSONAL RESPONSE, ATTITUDES MOTIVATION, PERSONALITY THEORIES BUYING PROPOSITION PRODUCT OR SERVICE
    • Understanding Consumer Characteristics CHARACTERISTICS Innovators 2-3% Early Adopters 12-15% Early Majority 33% Late Majority 34% Laggards 12-15% PERSONAL Social, Income, Occupation, Education, Housing, Family Influence, Time orientation PSYCHOLOGICAL Nature of needs, Perceptions, Self-concept, Aspiration Groups, Reference Groups
    • Changing Priorities Stage Priorities Major Purchases Fledging : Teens & early 20s Self,Socialising, Education Appearance Products, Clothing, Automobiles, Recreation, Hobbies, Travel Courting :20s Self & Other, Pair bonding,Career Furniture & Furnishing, Entertainment, Savings Nest Building:20s &early 30s Babies & Career Home, Garden,,Baby Care products, insurnce Full Nest 30-50s Children, Career, Midlife crisis Children Food, clothing, education, transportation, life counseling Empty Nest 50-70 Self & others, relaxation Furniture, Entertainment, Travel, Hobbies, Luxury Automobiles, Investments Sole survivor 70-90 Self, health,loneliness Health care , Diet, Security, Comfort, TV, Books, Long distance telephone services
    • Analyse Target Market OCCUPANTS WHO SERVICES WHAT OCCASION WHEN ORGANISATION WHO IS INVOLVED OBJECTIVES WHY OPERATION HOW
    • Marketing Strategy to be Based on
      • WHO MAKES THE BUYING DECISIONS
      • INITIATOR
      • INFLUENCER
      • DECIDER
      • BUYER
      • USER
      • GATE KEEPER
    • Characteristics of a Marketing Plan
      • Should provide a strategy for accomplishing company goals and missions
      • Should be based on facts and valid assumptions
      • Should provide for continuity so that future plans can be built on it for long-term goals
      • Should be simple and short
      • Should be flexible i.e. should provide scope for inclusion of “what if” scenarios
      • Should specify performance criteria that will be monitored and controlled
    • Why some Plans fail ?
      • Lack of a real plan (particularly regarding goals & objectives)
      • Inadequate situational analysis – There is no point in deciding where you want to go if you do not know “ where you are?” and “ where you have been? ”
      • Lack of Goal Clarity and Unrealistic Goals – This generally happens due to lack of understanding of the situation.
      • Unexpected competitive moves, product deficiencies, Delay in Getting Finance, and acts of God.
    • Thank You !!!