The document discusses key aspects of developing an effective marketing plan and launching a new venture successfully. It covers the characteristics of a marketing plan including having clear objectives, target market analysis, and promotional strategies. The importance of the marketing mix and management team are explored. Regarding legal forms for new ventures, it outlines sole proprietorships, partnerships, limited liability companies, and corporations as common structure options. Tips provided include building a strong management team through role definition, collaboration, and developing a positive work environment.

2. Presented By:
1: Laraib Hafeez (FA22-BEE-108)
2: Minahil Jahangir (FA22-BEE-113)
3: Maryam Khaliq (FA22-BEE-115)
4: Zulal Talib (FA22-BEE-249)

3. Topics under discussion:
1: Characteristics of a Marketing Plan
2: The Marketing Mix
3: Importance of Management team in Launching
a new venture
4: Alternative legal forms for launching a new venture

4. Characteristics of a
Marketing Plan

5. Definition of a Marketing Plan
A marketing plan is a strategic document that outlines
the steps a company will take to promote and sell its
products or services. It is designed to provide answer of
3 basic questions:
1:Where we have been?
2:Where do we want to go?
3:How do we get there?
In this presentation, we will explore the key
characteristics of a well-crafted marketing plan.

6. Importance of a Marketing
Plan
1 Strategic Guidance 🎯
A marketing plan
provides a clear
vision of the
company's goals and
how to achieve them,
serving as a guide for
decision-making.
2 Resource
Allocation 💼
It helps allocate
resources effectively,
ensuring that
marketing efforts are
aligned with the
company's overall
budget and timeline.
3 Competitive Edge 🏆
A well-designed marketing plan gives a company an
edge over competitors by identifying unique selling
propositions and target markets.

7. Characteristics of Marketing plan:
Key Sections of a Marketing Plan
Executive Summary
A concise overview of the marketing
plan, highlighting key objectives and
strategies.
Mission and Objectives
Defines the purpose and goals of
the marketing plan, linking them to
the overall company mission and
objectives.
Target Market Analysis
Identifies the ideal customers, their
needs, preferences, and behaviors
to effectively market products and
services.
Competitive Analysis
Evaluates direct and indirect
competitors to uncover strengths,
weaknesses, opportunities, and
threats for informed decision-making.

8. Swot Analysis:
An analysis of the company's strengths, weaknesses, opportunities,
and threats to access internal and external factors of plan.
Realism:
A market plan must be realistic because it helps in
business to avoid wasting time and helps business to stay in track.

9. Marketing Strategy:
1
Positioning Strategy
Developing a unique value
proposition to differentiate the
brand from competitors.
2
Pricing and Distribution
Strategy
Setting competitive prices and
determining the most effective
channels to reach the target
market.
3 Promotional Strategy
Creating compelling
marketing campaigns,
advertisements, and PR
activities to increase brand
awareness and drive sales.

10. Continuity:
Short term continuity:
Refers to the consistent execution of marketing strategies
and activities over a brief period spanning
few months or a year
Long term continuity:
Long term continuity in marketing involves maintaining
consistency in branding messages often for span of
several years.

11. Budget and Timeline:
Evaluation and control:
• A plan for how much a company can spend on marketing
activities
• It suggests how much a company can afford.
• Planning and scheduling marketing
activities, campaigns, and product launches
to ensure timely execution.
• Checking whether the plan is working to achieve the goal.
• Establishing metrics and monitoring systems to track key
performance indicators (KPIs) and measure the effectiveness
of marketing efforts.

12. Flexibility, Responsibilities &
Localization
1 Flexibility
A marketing plan
should be flexible to
adapt to changing
market conditions,
emerging trends,
and innovations.
2 Responsibilities
Clearly defining roles
and responsibilities
within the marketing
team to ensure
efficient execution
and accountability.
3
Localization
Customizing the marketing plan to specific
geographical locations or cultural contexts to
resonate with local consumers. A marketing plan
must be localized.

13. Legal and Ethical Considerations
• Conforming with legal regulations and
industry standards to maintain ethical
marketing practices.
• Ensuring transparency, honesty, and
respect for customer privacy in all
marketing communications.

14. Company with an effective marketing plan:
Apple inc (American company):
Apple's success can be attributed to its well-executed marketing strategy.
• Apple's success is because :
• Clear branding
• Creating a lot of excitement when they launch new products
• They understand their target audience and designs product to cater their
needs
• Even superior technology demonstrates that a well-executed marketing
plan is crucial in differentiating a company and driving its success.

15. Company with a lack of marketing plan:
Kodak (American company):
Kodak (known for taking pictures)
• They didn't make a plan for how to change when new things like
digital cameras came out.
• People started using digital cameras and smartphones to take
pictures, and Kodak didn't tell people about their new ideas.
• Kodak filed for bankruptcy in 2012, highlighting the severe
consequences of not having a well-executed marketing plan to
navigate.
• This example underscores the critical role of marketing planning
in adapting to market shifts is very necessary.

16. Tips for Effective Marketing Planning
1. Know Your
Audience
Understand your target
market's demographics,
preferences, and
motivations to tailor
your marketing efforts
for maximum impact.
2. Set SMART Goals
Ensure your marketing
objectives are Specific,
Measurable,
Achievable, Relevant,
and Time-bound to
track progress and
success.
3. Monitor and Adapt
Regularly review and
analyze marketing
performance data to
make data-driven
decisions and adapt
strategies as needed.

17. The Marketing Mix

18. Definition and Importance
What is the
Marketing Mix?
The marketing mix is
a set of tools that
companies use to
promote their
products and services
to consumers.
Why is it Important?
It allows companies to
identify and implement
the most effective
strategies to reach their
target audience and
differentiate themselves
from competitors.
When to Use It?
It should be used in
the planning phase
and reviewed
regularly to ensure
the strategy remains
aligned with business
goals and industry
trends.

19. 7 Ps of The Marketing Mix:
Product:
Definition
The product is what the
company offers to the
customer, including
physical goods, digital
products, and services.
Types of Products
Products can be
classified into tangible
goods, intangible
services, and hybrid
products that contain
elements of both.
Product Life Cycle
The product life cycle
includes the stages of
introduction, growth,
maturity, and decline,
with different marketing
strategies required for
each stage.

20. Price:
1 Definition
Price is the amount a
customer pays for a product
or service, and it includes
factors like production costs,
competition, and customer
demand.
2
Pricing Strategies
Common pricing
strategies include
cost-plus pricing,
value-based pricing,
and dynamic pricing,
with each approach
having its own
advantages and
disadvantages.
3
Factors Affecting Pricing
Decisions
Factors like product quality,
target audience, and
competitor pricing impact
pricing decisions and require
careful analysis and
consideration.

21. Place
1 Definition
Place refers to the
distribution channels
used to bring the product
to the customer,
including direct sales,
wholesalers, and
retailers.
2 Channel of Distribution
The channel of
distribution refers to
the path a product
takes to get from the
manufacturer to the
customer, and it can
be direct or indirect.
3 Types of Intermediaries
Intermediaries like wholesalers, distributors, and
retailers help bridge the gap between manufacturers
and customers and play an important role in the
distribution process.

22. Promotion
1 Definition
Promotion involves marketing activities that are designed to
increase awareness, generate interest, and persuade
customers to make a purchase.
2 Integrated Marketing Communications
Integrated marketing communications involve coordinating all
aspects of the promotional mix, including advertising, sales
promotion, personal selling, and public relations.
3 Advertising, Sales Promotion, Personal Selling, Public Relations
Each promotional tool has its unique strengths and weaknesses, and using them
together in an integrated way can help marketers achieve their goals.

23. People, Process, and Physical Evidence
People
The people who work
for the company,
including employees,
customers, and
stakeholders, can
impact the success of
the marketing mix.
Developing strong
relationships with
these groups is
essential.
Process
The way a company
delivers its products and
services, including the
ordering, delivery, and
returns process, impacts
customer satisfaction and
brand loyalty.
Physical Evidence
The physical evidence
of a company's product
or service, including the
packaging, website
design, and physical
storefront, can impact
the way customers
perceive the brand and
their likelihood of
making a purchase.

24. Advantages of Marketing Mix:
The Marketing Mix in
Practice
Successful companies use the
marketing mix to create a
comprehensive and cohesive
strategy that aligns all aspects
of the business with the
customer's needs and wants.
The Customer Journey
The marketing mix helps
guide customers through
each stage of the customer
journey, from awareness
and consideration to
purchase and advocacy.
Measuring Success
Metrics like conversion
rates, customer acquisition
cost, and customer lifetime
value can help companies
measure the success of
their marketing mix
strategy and make data-
driven decisions for the
future.

25. The correct arrangement of
marketing mix by enterprise
marketing managers plays an
important role in the success of a
company's marketing:
1.Develop strengths and avoid
weaknesses
2.Strengthen the competitiveness
and adaptability of enterprises
3.Ensure the internal departments of
the enterprise work closely together
ROLE OF MARKETING MIX IN
MARKETING:

26. Marketing Mix Examples from Real Businesses:
Canva:
When Canva entered the market, it
was every small business owner's
dream. Eventually, the brand
introduced premium versions of its
platform.
Avant-Garde:
An online brand created by UK-based chef Gaz
Oakley, grew his business on social media –
namely YouTube. Oakley gained popularity
posting recipes for healthy, vegan dishes and
soon became a go-to resource for new and
established vegan consumers

28. The Importance of the
Management Team in
Launching a New
Venture

29. Definition of a Management
Team
A management team consists of the individuals
responsible for overseeing and directing the
operations of a business. They are entrusted with
making critical decisions, setting strategic goals, and
guiding the organization towards success.

30. Importance of a Strong Management Team
Experience and Expertise
A strong management
team brings diverse
industry knowledge and
expertise, increasing the
chances of making
informed decisions and
navigating challenges
effectively.
Complementary Skills
Each member of the team
possesses unique skills and
strengths, allowing for
collaboration and synergy in
problem-solving, innovation,
and execution.
Decision-making Abilities
A strong management team
excels in evaluating risks,
analyzing data, and making
timely decisions, ensuring
the venture stays on the
right track towards
achieving its goals.

31. Role of the Management Team in
Launching a New Venture
The management team plays a crucial role in bringing
a new venture to life. They define the vision, develop
the strategy, secure resources, build partnerships,
and execute plans, all while mitigating risks and
adapting to emerging opportunities.

32. The Role of the Management Team in the Success of
a New Venture
1 Setting Direction
The management team helps set
the strategic direction of the
company, determining goals,
objectives, and how to achieve
them.
2
Building a Culture
The management team is
responsible for building a strong
corporate culture that promotes
values such as teamwork,
accountability, and innovation.
3 Managing Operations
The management team oversees
the day-to-day operations of the
business, monitoring progress and
making adjustments where
necessary to ensure success.

33. Key Qualities of an Effective Management Team
Leadership Skills
A strong management team
exhibits exceptional
leadership qualities,
inspiring and motivating the
entire organization towards
a common vision.
Communication
and Collaboration
Open and effective
communication, along with
seamless collaboration,
enable the management
team to align objectives,
boost productivity, and
foster a positive work
environment.
Adaptability and
Resilience
An effective management
team embraces change,
adapts swiftly to market
dynamics, and demonstrates
resilience in the face of
challenges, turning setbacks
into opportunities for growth.

34. Case Studies: Successful Management Teams
Google
Google's management
team, led by CEO
Sundar Pichai, has
been instrumental in
revolutionizing the way
people access and
utilize information,
driving innovation and
growth.
Apple
Under the leadership of
CEO Tim Cook, Apple's
management team has
consistently delivered
groundbreaking
products and services,
elevating the brand to
unprecedented heights.
Amazon
Amazon's management
team, led by CEO Jeff Bezos,
has transformed the e-
commerce landscape and
expanded into various
industries, leveraging their
customer-centric approach
and strategic vision.

35. Qualities of a Bad Management Team
1 Poor Communication 🤐
Lack of communication
leads to misunderstandings,
conflicts, and inefficiencies.
2 Micromanagement 🕒
Constantly monitoring and
controlling employees stifles
creativity and demotivates the
team.
3 Lack of Trust 🚫
When trust is absent,
teamwork suffers, and
the overall performance
of the team declines.
4 Resistance to Change 🛡🤐
Failing to embrace change
hinders innovation and keeps
the team from adapting to
new challenges.

36. Examples of Failed Management Teams
Enron
Enron's
management team
engaged in
fraudulent practices,
leading to one of the
biggest corporate
scandals in history.
Yahoo!
Yahoo's decline from a
dominant internet company
to a shadow of its former self
was attributed to multiple
instances of poor
management decisions,
including failed acquisitions,
leadership turnover, and a
lack of clear strategic
direction.
Blockbuster:
Blockbuster, once a leading
video rental company,
failed to adapt to the digital
age and the rise of
streaming services like
Netflix. This inability to
innovate and evolve
ultimately led to the
company's bankruptcy.

37. The Impact of Poor Management on the
Marketing Plan
1 Miscommunication & Inconsistent Messaging
A lack of effective management can result in mixed
messages, leading to confusion and inconsistency in
marketing efforts.
2 Missed Opportunities
Poor decision-making and lack of strategic planning can
cause the marketing team to miss out on potential
opportunities.
3 Lack of Adaptability
Inflexible management may hinder the marketing
team's ability to adapt to changing market trends and
consumer demands.

38. Expert Quotes and References
"Great vision without great people is irrelevant"
- Jim Collins, Author and business consultant
"The strength of the team is each individual member. The strength of
each member is the team."
- Phil Jackson, Hall of Fame NBA Coach
Referencing Relevant Studies and Reports
A study by Bain and Company found that management quality
accounted for 20-30% of the difference in company performance
over time. Similarly, Stanford Business found that the main
reason startups fail is a lack of strong management leadership
and skills.

39. Challenges in Building and Managing a Management Team
Recruiting the Right Talent
Finding and attracting
individuals with the necessary
skills, experience, and cultural
fit can be demanding, requiring
a robust recruitment and
selection process.
Retaining Top Performers
Retaining high-performing
team members is vital for
continuity and sustained
success. Creating an
engaging work environment
and offering growth
opportunities can help in
this regard.
Resolving Conflicts
The management team must
effectively address conflicts,
fostering open dialogue and
finding mutually beneficial
resolutions to maintain a
harmonious and productive
working relationship.
Adapting to Market Changes
A dynamic market landscape
necessitates adaptability. The
management team must stay
agile, embracing change and
proactively adjusting
strategies to remain
competitive.
Succession Planning
Planning for future leadership
transitions is crucial.
Developing a robust
succession plan ensures a
smooth transition and
continuity in strategic
decision-making.

40. Tips for Building a Strong Management Team
1. Define Roles & Responsibilities 📋
Clearly define each team member's
roles and responsibilities to avoid
confusion and promote efficiency.
2 Encourage Collaboration 💪
Create a collaborative culture where team
members share ideas, support each other,
and work towards common goals.
3 Invest in Professional Development 📚
Provide ongoing training and
development opportunities to enhance
skills and keep the team's knowledge
up to date.
4 Foster a Positive Work Environment 😊
Cultivate a supportive and inclusive work
environment that values and appreciates
each team member.

41. Alternative Legal Forms
for Organizing a New
Venture

42. 1 Sole Proprietorship
A sole proprietorship is a business
that is owned and operated by a
single individual.
2
Partnerships
A general partnership is a
business that is owned
and operated by two or
more individuals
3
Alternative to Partnership
Limited partnership, joint ventures
and etc.
4
Limited Liability Company
A flexible business structure that
combines the limited liability of a
corporation with the tax benefits of a
partnership.
5
Corporation
A corporation is a legal entity
separate from the owners and
managers of the firm.

43. Sole Proprietorship
Characteristics :
 Sole ownership
 Simplified establishment procedures
 Direct taxation
 Unlimited personal liability
 Sole owner's autonomy in decision-making
 Straightforward business organization
 Sole individual as exclusive owner and operator
 Sole responsibility for all aspects of the venture
 Business and owner viewed as one entity for taxation and legal purposes
 Cost-effective setup with minimal legal formalities

44. Sole Proprietorship
Disadvantages:
 It is difficult to raise large
amounts of capital
 There is unlimited liability
 It is difficult to transfer
ownership
 The company’s life is
determined by the life of the
owner.
Advantages:
 It is easy and inexpensive to form
and simple to operate
 It offers the maximum managerial
control
 Business income is taxed as
personal income to the owner.

45. Examples
Local retail shops
Local retail shops often owned by
families
Food trucks or Local restaurants
Food trucks are usually owned by
one person

46. Corporation
Characteristics :
 A corporation is a distinct legal entity
 It has its own legal rights and responsibilities
 Key features include limited liability and stock issuance
 Sole owner's autonomy in decision-making
 Establishing a corporation involves submitting articles of incorporation
 This typically occurs at the state level
 Governance is provided by a board of directors and designated officers

47. Corporations
Disadvantages:
 There is double taxation
 It is expensive and complicated to
begin operations and to administer.
Advantages:
 There is limited liability
 The corporation has unlimited life
 Ownership is easily transferred
 It may be possible to raise large
amounts of capital.

48. Examples
Apple
Apple Inc., founded in 1976 by Steve Jobs,
Steve Wozniak, and Ronald Wayne. Apple
stands as an epitome of innovative products
and global recognition, securing its position as
one of the world's most valuable companies
Amazon
Amazon.com, Inc., initiated by Jeff Bezos in
1994 as an online bookstore,
metamorphosed into one of the globe's most
extensive e-commerce and technology
companies, playing a pivotal role in
diversification and prominence across
various business sectors.

49. Limited Liability
Company
Characteristics :
Combines elements of partnerships and corporations.
Offers flexibility like a partnership.
Provides limited liability protection similar to corporations.
Owners are "members," not personally liable for business debts.
Personal assets are safeguarded from business liabilities.
Formation involves state documents and an operating agreement.

50. Limited Liability Company
Disadvantages:
Raising capital can still be a
constraint
It is difficult to transfer
ownership
The company has limited life
Advantages:
 All members obtain limited liability
 The entity is taxed as a general
partnership.
 Less restrictive membership
requirements
 Dissolved in the event of transfer
of interest or death unless
members vote to continue

51. Partnerships
Characteristics :
Partnership: Business organization with 2+
 individuals/entities
Formal legal agreement outlines roles, responsibilities,
 profit sharing
Equal responsibility for business management
Personal liability for debts and legal obligations
General partners: Active in daily operations, personal liability
Limited partners: Capital contributors, limited involvement, not
personally liable beyond investment

52. Partnerships
Disadvantages:
 There is unlimited liability
 It is difficult to transfer ownership
and
 The company has limited life
Advantages:
 They are easy and inexpensive to form
and operate administratively
 They have the potential for large
managerial control
 Business income is taxed as ordinary
(personal) income to the owner
 A partnership may be able to raise
larger amounts of capital than a sole
proprietorship

53. Examples
Ben & Jerry's
Popular ice cream company, was
founded as a partnership by Ben
Cohen and Jerry Greenfield in 1978
Google
The world's most widely used search
engine, was created through the
partnership of Larry Page and Sergey
Brin while studying at Stanford
University.

54. Alternatives to Partnership
Joint ventures:
• The law of partnership applies to joint ventures.
• The primary purpose of this form or organization is to share the
risks and profits of a specific business undertaking.
How to choose?
1. Do I want to work alone or with someone?
2. Do I want limited or unlimited liability?
3. How much input do I want into my venture?
4. What losses am I willing to face?

55. Conclusion and Q&A
From these presentations we conclude that:
 An effective marketing plan is crucial for business to stay competitive
and leading in the market landscape
 The marketing mix consisting of 7ps provides a tactical tool to sell
product effectively.
 The managementt team expertise leadership, and execution are
crucial in successfully launching a new venture.
 Choosing the right legal structure is crucial for the success of a new
venture.
We hope this presentation has provided valuable insights.
Now, let's open the floor for questions!