Handbag_Obession

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Handbag_Obession

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  • Our bags offer a look of glamour and sophistication to every need that fits your everyday routines from, work/career, vacation, and evening as well. Handbags keep us organized and are an asset for any woman who carries essentials to several locations. Different types of handbags are based on the individual’s need.
  • Handbag Obsessions is the wholesale company that was formed by four college students who had an idea for developing and promoting their designer handbags and found their revenues would increase with proper marketing and a solid business plan that promotes their motto of a lifetime warranty of the products they sell. The organized and highly motivated women created a name and logo that would be a unique symbol of their product. The logo was patented which will make it difficult for knock-off and counterfeit replicas of their products. This company operates under the value of the “5 – R’s”, which are: Right Product, Right Store, Right Condition, Right Time, Right Price.
  • Recently, the women entrepreneurs have explored the potential of Handbag Obsessions and reviewed expanding the line to include a variety of handbags to conform to the younger and older generations in addition to their focus on the twenty to forty year women. A child’s line and “Purple Hat” society line are thoughts that are being reviewed for expansion. It is our goal to establish a reputable name for our company and to further develop the business, business infrastructure, internal systems, product and service development, and extensive marketing and geographic positioning.
  • By focusing on its strengths, its key customers, and the underlying values they need. This business plan leads the way. It renews our vision and strategic focus: adding value to our target market segments, the small business and high-end house wife, in our market. It also provides the step-by-step plan for improving our sales, gross margin, and profitability.
  • The primary purpose for the situation analysis section of a marketing plan is to describe what is happening in the markets, in which the company competes, and the company's product and distribution trends. Market Summary and Demographics , which presents information on trends for demographic, economic, technological, political, social, cultural, material supply, etc., that impact on the company Competitive Situation , which provides a description of major competitors with size, goals, market share, product quality comparisons, marketing strategies, marketing spending, etc.
  • Product Situation , which includes sales, prices, and contribution margins; net profits of each company product line are shown
  • Strengths: Motivated business owners prepared to enter wholesale club to energize the handbag market Each handbag has a name, an identity, that customers can quickly connect with Handbags will range from elegant, glamorous and sophisticated to everyday, practical and professional Placing product in established wholesale club increases customer accessibility Promoting handbags for sale in an established wholesale club will increase customer convenience in viewing products Anticipated demand for handbags at a wholesale price- most women purchase at least one The 5 established designs of handbags have a variety of colors and shades to match outfits Weaknesses: Product appeals to 50% of the population b) Need to set price for each item c) Set up webpage to promote wholesale club and for online sales d) Need to source suppliers for handbags to keep costs at a minimum to sell at wholesale price and maximize profits to owners e) Need to define sales and advertising for wholesale club f) 5 business owners in wholesale club to make decisions at each stage g) Need to define market position and who our customers will be (High, Middle, Low end)
  • Many businesses which claim to offer "designer handbags" do not back their products up with a lifetime warranty. Our closest competitors are local pre-manufactured handbag retailers, other handbag-selling websites, and the market of knock-offs and counterfeit replicas of our products. However, none of these competitors offers the combination of factors which define our company. Retailers, both local and national via websites, offering handbags do not offer the versatility of being able to purchase a handbag for everyday use and for a more glamorous look. Many handbag companies offer either or but not both extremes. Our wholesale company only sells handbags for women. Other companies will sell knock-offs, handbags just like name brands, but with their name on it. While this store has a huge selection, the quality of the handbags leaves a lot to be desired. While the handbags are often good copies of famous brands, the execution is sometimes off. Many of the handbags are made out of less quality cheaper material, giving it a tacky appearance.
  • Profit is the result of each sale above BEP.
  • Handbag Obsession should not only provide the best service to our customers but set the benchmark for our competitors and other products within the wholesale club.
  • People are spending less money on items for themselves and are starting to save more in anticipation of the economy getting worse yet. This report is through to age 29 and our market would be affected by these statistics as we would with the 30 plus years. However, this is the age group that tends to put more funds away during hard times and therefore statistically this chart may be the more accurate information for our customers during these hard times. When averaging all the age groups from this report; on average the consumer is spending 2.9% of their budget on apparel items and if we were to take a poll on the percentage of apparel items that are handbags, unfortunately the percentage would be even lower. It will be critical that we present our product in a manner that allows the consumer to realize this in a good investment for their hard earned dollars and worth the investment even through a difficult economy because the quality of the product is designed to last for years.
  • Our bags offer a look of glamour and sophistication for all your needs; from your everyday routines to work/career, vacation, and evening as well. We showcase quality and well-constructed fashions from prominent designers We are here to assist women in learning the style of bag that will best apply to their unique personalities and their needs. We offer exclusive services so each customer knows they’ve purchased an elite product that can’t be bought in just any department store.
  • To offer home party services on a more personal level, this would make the focus totally on our handbags. This method is preferred because there is no competition with other products and brand names that the consumer sees throughout the department stores. For our repeat customers who have purchased several of our handbags the opportunity to select a matching wallet free or a monetary discount coupon to apply toward their fifth purchase after every fourth purchase of a handbag, as our appreciation for their continued support of our company. We would offer gift packaging and delivery services to that someone special for any occasion the buyer selects. To offer online purchasing services and to provide quarterly catalogs online, this would indicate the new products that will be coming available with the date of availability.
  • A marketing plan is a road map that Handbag Obsessions uses to accomplish a focused marketing goal. Several objectives are contained within the marketing plan that include goals for personnel utilization and market expansion. One set of marketing plan objectives that all business owners keep a close eye on are the financial objectives that determine the return on the marketing plan and its overall profitability. A revenue objective has not been developed for Handbags Obsessions, but it may be that the company intends to generate $100,000 in sales during a predetermined time frame that the marketing plan is in effect. The objective of the marketing plan is to track these costs and find ways of lowering them to make the product more price competitive in the marketplace. One element in the SWOT analysis identified the need to finalize where the product would be manufactured. Although Made in U.S.A. would be patriot, manufacturer overseas would increase profits for the business. It would be appropriate to make this decision before pricing each handbag as it will effect the final cost of the product. The business owners would also need to decide on materials for each product. This is not necessarily always a search for the lowest product costs. It may be determine that the costs of certain materials to make each handbag are higher than comparable materials, but the quality is higher. The financial objective with costs is to find that balance which will create a product that meets the owners standards, but does so at the best possible price. Finally, sourcing overseas manufacturers is a cost in itself. Quantity for an initial order will be a factor to reducing costs. It is possible that a small orders may result in demand exceeding supply and loss of revenue while waiting for more handbags to arrive from overseas. Locally made handbags will require less costs in sourcing manufacturers and order times for new stock.
  • Marketing plans not only map out advertising strategies, they also monitor advertising costs to try and find the best value possible for marketing campaigns.
  • Prices are constantly altered and changed in various target markets until the projected profit margin is attained.
  • Products: Pax: large bag Pucker: classy evening Keri: medium bag Race case: Business bag Leisure: an anytime bag for any occasion Price: In addition, Handbag Obsessions will be offering other services such as purse parties which will also be low in cost to compete with the market.
  • Handbag Obsessions utilizes mainly word of mouth to get products known. Handbag Obsessions are distributing thousands of brochures for creating customer awareness for our products in trade shows, fashion organizations where our sales representatives are participating.
  • The business will need to identify sales per month targets and monitor to ensure projected are meet.
  • EFFICIENCY cont. Advertisement effective Promotional sales, discounts, returned merchandise
  • PROFITS –DETERNIME WAYS TO MAXIMIZE PROFIT MARGINS. DISTRIBUTION- ENSURE DELIVERY OF PRODUCTS ARE IN A TIMELY MATTER BY REDUCING COST. COMPETITION – RESEARCH COMPETIORS PRICES. BUDGET- STAYING WITHIN THE GUIDELINES OF NEXT YEAR PROJECTIONS. ANALYSIS PRODUCTS TO ENSURE PROFITABILITY REVIEW SWOT REVIEW AND ANALYSIS MARKETING TACTICS EFFECTIVENESS
  • Handbag_Obession

    1. 2. <ul><li>Executive Summary </li></ul><ul><li>Situation Analysis </li></ul><ul><li>Market Summary </li></ul><ul><li>Market Demographics: Needs, Trends, and Growth </li></ul><ul><li>SWOT Analysis </li></ul><ul><li>Competition </li></ul><ul><li>Keys to Success </li></ul><ul><li>Critical Issues </li></ul><ul><li>Channels </li></ul><ul><li>Mission </li></ul>08/22/11
    2. 3. <ul><li>Marketing Objectives </li></ul><ul><li>Financial Objectives </li></ul><ul><li>Target Marketing </li></ul><ul><li>Positioning </li></ul><ul><li>Marketing Mix </li></ul><ul><li>Breakdown of Marketing Costs </li></ul><ul><li>Link To Sales Projections </li></ul><ul><li>Controls: Implementation Milestones, Contingency Planning, Recommendations and Alternatives </li></ul><ul><li>Appendices Bibliography </li></ul>08/22/11
    3. 4. <ul><li>Handbag Obsessions is an established wholesaler of handbags in New York. </li></ul><ul><li>Our product offers every woman self-confidence and certainty in an appealing and elegant way. </li></ul><ul><li>Some of the handbags we carry are comprised of private dividers which allow us to carry items that we use on a regular basis. </li></ul>08/22/11
    4. 5. <ul><li>Handbag Obsessions markets its product line with each handbag having a name and an identity that customers can quickly connect with. </li></ul><ul><li>Types of Handbags: </li></ul><ul><ul><li>Pax - Perhaps for large bags that can pack a lot of items </li></ul></ul><ul><ul><li>Pucker – a classy evening type handbag </li></ul></ul><ul><ul><li>Keri -medium size handbag that allows for the daily needs </li></ul></ul><ul><ul><li>Race Case – Perhaps a business attaché’ case for the professional woman working in a rat race </li></ul></ul><ul><ul><li>Leisure – Perhaps a handbag for the more leisure times in our lives such as grocery shopping, running errands, etc. </li></ul></ul>08/22/11
    5. 6. <ul><li>This way of thinking assures that the company is doing “Right” by the customers. </li></ul><ul><li>We are seeking funding to expand Handbag Obsessions operations to include a catalog of our products </li></ul><ul><li>Based upon conservative market growth projections, once start-up funding is secured, the company expects to generate very healthy sales revenues in Fiscal Years 1, 2 and 3. </li></ul>08/22/11
    6. 7. <ul><li>Handbag Obsessions will increase sales to more than $1 million in three years, while also improving the gross margin on sales and cash management and working capital. </li></ul><ul><li>Handbag Obsessions business plan includes this summary, and chapters on the company, products and services, market focus, action plans and forecasts, management team, and financial plan. </li></ul>08/22/11
    7. 8. <ul><li>Information in this section provides rationale and support for the marketing objectives, plans, and strategies that we’ve outlined. </li></ul><ul><li>Market Summary and Demographics : Presents information on trends </li></ul><ul><li>Market Situation : Includes size, growth trends of total market, and key segments </li></ul><ul><li>Competitive Situation : Provides a description of major competitors </li></ul>08/22/11
    8. 9. <ul><li>Target Buyer or End User Situation : Analyzes the identification and behavior of target buyers/end users and consumer wants and needs </li></ul><ul><li>Product Situation : Includes sales, prices, and contribution margins </li></ul><ul><li>Distribution Situation : Provides information on size, trends, and importance of each distribution channel for the company's products </li></ul>08/22/11
    9. 10. <ul><li>Women's handbag market is over a $1B a year business nationwide </li></ul><ul><li>Handbag Obsession expects to capture about 50% of that market </li></ul><ul><li>We forecast this summary for the end of the fiscal year due to our low cost and high quality products </li></ul>08/22/11
    10. 11. <ul><li>Needs: </li></ul><ul><li>New York and California have the highest fashion stats in the United States </li></ul><ul><li>Trends: </li></ul><ul><li>Focused on providing high-end merchandise at a lower price in order to attract consumers </li></ul><ul><li>Growth : </li></ul><ul><li>Marshal Cohen, a chief industry analyst stated, “sales of handbags actually increased by 31% in stores nationwide and over 14% due to online sales” </li></ul>08/22/11
    11. 12. 08/22/11
    12. 13. <ul><li>There are only a handful of other businesses offering designer handbags </li></ul><ul><li>Our competitive advantage stems from our design experts and the quality of our products. </li></ul><ul><li>Our designs feature emphasize on our customers’ needs. </li></ul><ul><li>Most of our competition has out priced themselves and we offer are products at an affordable price. </li></ul>08/22/11
    13. 14. <ul><li>We desire to run a business selling handbags in wholesale clubs. </li></ul><ul><li>We have planned via our marketing plan and from input from the team. </li></ul><ul><li>We will have attempted to sell a product to make a profit. </li></ul><ul><li>If success is where preparation and opportunity meet, then Handbag Obsessions will be very successful. </li></ul>08/22/11
    14. 15. <ul><li>Goals and Objectives </li></ul><ul><li>Maintain a Marketing dashboard with real-time information on each product. </li></ul><ul><li>Maintaining a dashboard linked to the marketing plan will provide a road map that monitors the achievements of goals and objectives. </li></ul>08/22/11
    15. 16. <ul><li>Evaluate each handbag that we sell to ensure that price is an indicator of value. </li></ul><ul><li>Value is judged by consumers as worth and desirability that satisfies some need. </li></ul><ul><li>Maximize every product line profit in the short-run to achieve the profits in the long-run </li></ul><ul><li>Profit= total revenues-total costs </li></ul>08/22/11
    16. 17. <ul><li>We will need to evaluate: Total cost, Fixed cost, Variable cost, Unit Variable cost and Marginal cost. </li></ul><ul><li>A Break-even analysis could be employed to analyze total revenue and total cost to determine profitability for each handbag. </li></ul>08/22/11
    17. 18. <ul><li>To ensure the success of our business it will be necessary to introduce new products and develop brand extensions. </li></ul><ul><li>The logo could be applied to new streams of products that would compliment the current handbag varieties. </li></ul><ul><li>Keeping the product life cycles new will ensure that customers are returning to view new releases of the latest additions to our brand. </li></ul>08/22/11
    18. 19. <ul><li>As our handbags will be placed in wholesale clubs, it will be important to maintain relationships with each club to retain target market. </li></ul><ul><li>80/20 rule. 80% of our sales will come from 20% of our customers. Dealing with matters as they arise within the clubs quickly and efficiently, will ensure continued success of our business. </li></ul>08/22/11
    19. 20. <ul><li>Profitability success will be determined by sales and repeat business, but our reputation success will be determined by customer satisfaction. </li></ul><ul><li>Giving customers more than what they expect will result in satisfied customers returning to make new purchases and spreading word of mouth to new customers. </li></ul>08/22/11
    20. 21. <ul><li>One of the critical issues we’re going to face with starting a new business is the economy. </li></ul><ul><li>We provide in this presentation a chart taken from a 2007-2008 consumer survey that was completed by the Bureau of Labor Statistics and can be found on page 48 of the 52 page report referred to as the Consumer Expenditure Survey Anthology, 2011. </li></ul><ul><li>Keeping in mind this is a survey from 3-4 years ago and the economy has only become worse. </li></ul>08/22/11
    21. 22. <ul><li>PUSH STRATEGIES </li></ul><ul><li>Partake in tradeshows to promote our product. </li></ul><ul><li>Create terms with vendor to stock product. </li></ul><ul><li>Create efficiency in supply chain to allow retailer a resourceful supply. </li></ul><ul><li>Create a package design to encourage purchase. </li></ul><ul><li>POS(point of sale) display. </li></ul>08/22/11
    22. 23. <ul><li>PULL </li></ul><ul><li>Strong advertising promotion </li></ul><ul><li>Management will establish a relationship with customers. </li></ul><ul><li>Create sales promotions and discounts. </li></ul>08/22/11
    23. 24. <ul><li>Ultimately our mission is to supply each of our unique customers with the finely detailed handbag style of their choice that creates an exceptionally outstanding look and enhances their appearance meanwhile maintaining organization of their possessions. </li></ul><ul><li>Provide each customer with a quality product that offers an assortment of handbags that will present every woman with self-confidence and certainty in an appealing and elegant way. </li></ul>08/22/11
    24. 25. <ul><li>We want to create a shopping environment that caters to the needs of all women </li></ul><ul><li>To become the number one handbag company throughout the United States </li></ul><ul><li>To achieve a net profit of $50,000 by the end of the second year, and $150,000 by the end of the third year. </li></ul><ul><li>To be an active member and participant of all the surrounding fashion shows where models are using our handbag products in their shows. </li></ul>08/22/11
    25. 26. Financial Objectives <ul><li>Revenue </li></ul><ul><ul><li>Revenue objectives for our marketing plan needs to be very specific so that the company can have a way of measuring the plan's success or failure. </li></ul></ul><ul><li>Costs </li></ul><ul><ul><li>The projected costs are made up of the elements required to manufacture and distribute the product including material costs, shipping costs and personnel costs. </li></ul></ul>08/22/11
    26. 27. Financial Objectives Continued <ul><li>Advertising </li></ul><ul><li>The advertising schedule set up in a marketing campaign uses historical data of past campaigns and research. As Handbag Obsessions is a newly launched product in the marketplace, Objective and Task would be the best approach. </li></ul><ul><li>After the marketing plan is completed, analyzing the advertising dollars spent will assist with determining more efficient ways to spend those dollars on future marketing plans. </li></ul>08/22/11
    27. 28. Financial Objectives Continued <ul><li>Profit </li></ul><ul><li>Profit projections are a significant part of the revenue projections in the marketing plan, and profit must be monitored as closely as revenue. </li></ul><ul><li>Profit is not just a function of how low the company can get the cost to deliver product, it is also based on how much Handbag Obsessions can raise the asking price. </li></ul>08/22/11
    28. 29. 08/22/11
    29. 30. <ul><li>Targeted Market: </li></ul><ul><ul><li>New York and California have the highest fashion stats in the United States. </li></ul></ul><ul><ul><li>25% of the approximate 20,000 fashion designers are self-employed </li></ul></ul><ul><ul><li>28 percent of fashion designers worked for apparel, piece goods, and notions merchant </li></ul></ul><ul><ul><li>Wholesalers </li></ul></ul><ul><ul><li>Each year, over $250 billion is spent on fashion (including accessories) in the United </li></ul></ul><ul><ul><li>States and over $20 billion in revenue is generated annually. </li></ul></ul>08/22/11
    30. 31. <ul><li>Handbag Obsessions will be discovered through: </li></ul><ul><ul><li>Neighborhood Storefronts </li></ul></ul><ul><ul><li>Friends and Customers by word of mouth </li></ul></ul><ul><ul><li>Personal shoppers and email listings </li></ul></ul><ul><ul><li>Women’s fashion magazines </li></ul></ul><ul><ul><li>Local press and advertising </li></ul></ul><ul><ul><li>Travel, business and shopping catalogues </li></ul></ul>08/22/11
    31. 32. <ul><li>The primary customer is the professional and domestic woman with a household income of $40,000 or more. Her main characteristics will be: </li></ul><ul><ul><li>Professional woman ages 30-55 </li></ul></ul><ul><ul><li>Household income over $40,000 </li></ul></ul><ul><ul><li>Enjoys the luxury of owning quality and elegance </li></ul></ul><ul><ul><li>Psychographics </li></ul></ul><ul><ul><li>Looks for bargains, but is willing to spend money on quality items </li></ul></ul><ul><ul><li>Would like more assistance in understanding what type of handbag is appropriate for her and her lifestyle </li></ul></ul><ul><ul><li>Wants to look her best because she wants to feel good about herself as well as make a good impression at her job. </li></ul></ul>08/22/11
    32. 33. <ul><li>Leisure Activities </li></ul><ul><ul><li>Supports the Arts </li></ul></ul><ul><ul><li>Business woman and mother </li></ul></ul><ul><ul><li>Watches HBO, Lifetime and the Hallmark Channel </li></ul></ul><ul><ul><li>Reads Vogue, New Yorker </li></ul></ul><ul><ul><li>Is internet savvy </li></ul></ul><ul><ul><li>Travels and enjoys visits with friends </li></ul></ul><ul><ul><li>Enjoys eating out as well as taking time for herself at the spa </li></ul></ul>08/22/11
    33. 34. <ul><li>What kind of products is it? </li></ul><ul><ul><li>Fashionable, high standard quality handbags that are unique and can’t be found anywhere else </li></ul></ul><ul><li>What is the single most important benefit it offers? </li></ul><ul><ul><li>Elegance and practicality at an affordable price </li></ul></ul><ul><li>Who is its most important competitor? </li></ul><ul><ul><li>Coach, Gucci and any other highly marketed designer handbag </li></ul></ul><ul><li>What is the significant customer benefit of that difference? </li></ul><ul><ul><li>None of the other companies offer money back guarantee with a six-month warranty included in the purchase of the handbag. </li></ul></ul>08/22/11
    34. 35. <ul><li>Handbag Obsessions is based on the following factors : </li></ul><ul><li>Product: </li></ul><ul><ul><li>Pax </li></ul></ul><ul><ul><li>Pucker </li></ul></ul><ul><ul><li>Keri </li></ul></ul><ul><ul><li>Race Case </li></ul></ul><ul><ul><li>Leisure </li></ul></ul><ul><li>Price: </li></ul><ul><ul><li>The company will offer quality handbags at less cost than the existing market standard. </li></ul></ul><ul><ul><li>Handbags will cost from $12-$60. </li></ul></ul>08/22/11
    35. 36. <ul><li>Promotion: </li></ul><ul><ul><li>Media Advertising </li></ul></ul><ul><ul><ul><li>Catalogs </li></ul></ul></ul><ul><ul><ul><li>Magazines </li></ul></ul></ul><ul><ul><ul><li>Social Media Sites </li></ul></ul></ul><ul><li>Incentives: </li></ul><ul><ul><li>Rebates/Free subscriptions </li></ul></ul><ul><ul><li>Discounts for customer referrals </li></ul></ul><ul><li>Distribution of Channel: </li></ul><ul><ul><li>Initially sold through our wholesale company </li></ul></ul><ul><ul><li>Will later be available through retail outlets to be sold before the holidays. </li></ul></ul>08/22/11
    36. 37. <ul><li>Handbag Obsessions is a new product at the introduction stage of the product life cycle. </li></ul><ul><li>Informing customers regarding our product is our primary promotional objective. </li></ul><ul><li>Marketing mix consists of: </li></ul><ul><li>Pricing </li></ul><ul><li>Product </li></ul><ul><li>Promotion </li></ul><ul><li>Once the Channels of Distribution have been finalized, it will be important to link these to the business strategy to breakdown the marketing costs. </li></ul>08/22/11
    37. 38. <ul><li>The marketing costs are a detailed examination of the costs incurred in the business and an administration of the marketing function. </li></ul><ul><li>It impacts sales volume that also relates costs resulting in profitability. </li></ul><ul><li>Each handbag will also need to have individual sales targets as each handbag will have a different appeal to a different target audience. </li></ul>08/22/11
    38. 39. <ul><li>Each handbag would need to apply a percentage of the sales to promotion. </li></ul><ul><li>As this business requires an initial high cost promotional campaign a 10% cost per anticipated sale would ensure each handbag contributes to the marketing costs. </li></ul><ul><li>The following year this amount can be adjusted as brand awareness increases. </li></ul>08/22/11
    39. 40. <ul><li>Placing Handbags Obsession in a wholesale club brings a unique marketing issue, as the owners will need to maintain a tight budget as the wholesale concept results in lower cost items for the customer. </li></ul><ul><li>Templates for completing a marketing budget plan are readily available and Microsoft has several templates. </li></ul>08/22/11
    40. 41. <ul><li>Sales projections is a month by month prediction of the level of sales Handbags Obsessions expect to achieve. </li></ul><ul><li>Sales projections will be prepared once per year. </li></ul><ul><li>This purpose is to identify problems or opportunities with each product line. </li></ul>08/22/11
    41. 42. <ul><li>It helps to mange each product line as well as avoiding unforeseen cash flow. </li></ul><ul><li>Real-time adjustments can be made for each handbag depending upon the achievement of each target for each month. </li></ul><ul><li>Questions Handbag Obsessions needs to ask to clarify the Sales projections. </li></ul>08/22/11
    42. 43. <ul><li>Obtain feedback from wholesale club regarding sales volumes. </li></ul><ul><li>Encourage customer feedback on post purchase to improve handbags. </li></ul><ul><li>Check web based sales against wholesale club sales for data to estimate orders for each product line. </li></ul><ul><li>Review new markets to increase growth. </li></ul>08/22/11
    43. 44. <ul><li>There are many free templates available on the internet. </li></ul><ul><li>Complete two forecasts “best guess”- results the business hopes to achieve and “worst case” – low estimates that you are confident of achieving that result in a break even rather than high profit outcome. </li></ul><ul><li>Keep collecting data to help with next years sales projections. </li></ul>08/22/11
    44. 45. <ul><li>BUDGET </li></ul><ul><li>PROFITIABILITY </li></ul><ul><li>EFFICIENCY </li></ul>08/22/11
    45. 46. <ul><li>SALES, STOCK, EMPLOYEES, DISTRIBUTORS, MARKETING, ADVERTISMENT, MONTHLY/QUARTERLY </li></ul><ul><li>BUDGETS WILL BE MONITORED AND REVIEW ON A MONTHY BASIS. IF THERE ARE ANY DEVIATIONS, STEPS MUST BE TAKEN IMMEDIATELY TO CLOSE ANY GAPS. </li></ul>08/22/11
    46. 47. <ul><li>Increase profit margin in sales </li></ul><ul><ul><li>Reduce costs in inventory </li></ul></ul><ul><ul><li>Increase assets </li></ul></ul><ul><ul><li>Reduce waste </li></ul></ul><ul><li>All employees are working efficiently </li></ul><ul><ul><li>Products are profitable </li></ul></ul><ul><ul><li>Customer satisfaction </li></ul></ul><ul><ul><li>Logistic cost </li></ul></ul><ul><ul><li>Delivery service </li></ul></ul><ul><ul><li>Orders received correctly </li></ul></ul>08/22/11
    47. 48. <ul><li>Store space will be available 4 months before grand opening. </li></ul><ul><li>Qualified staff will be trained 30 days before grand opening. </li></ul><ul><li>Marketing Managers will be responsible for sales, in-store marketing, invoices, purchasing, hiring staff and other managerial responsibilities. </li></ul>08/22/11
    48. 49. <ul><li>MARKETING PLAN WILL BE UPDATED AND REVISED EVERY 12 MONTHS AND REVIEWED EVERY QUARTER. </li></ul><ul><li>* This will ensure that the Marketing Plan is on schedule and make corrections if needed. </li></ul>08/22/11
    49. 50. <ul><li>SALES – DETERMINE WAYS TO INCREASE SALES BY REVIEWING MARKETING MIX AND BRANDING. DEVELOP NEW PROMOTIONAL SALES. </li></ul><ul><li>MARKETING – CONDUCT MARKETING RESEARCH TO ENHANCE PRODUCTS PROFITIBITY. DETERMINE IF PRODUCTS MUST BE REPOSITIONS OR MODIFY THE MARKET. DEVELOP NEW MARKETING SCHEMES. </li></ul><ul><li>EMPLOYEES – DETERMINE IF STAFF IS WORKING EFFICIENTLY AND IF TRAINING IS A DETERMINE FACTOR. </li></ul>08/22/11
    50. 51. 08/22/11
    51. 52. 08/22/11
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