The aim of this module is to emphasise the importance of marketing in relation to your business idea. In regards to marketing this course looks at; what is marketing, the four P's of marketing and also it explores the idea of marketing through social media and how to ensure you are maximising its effectiveness.
This module examines the concept of making profit from imagination, meaning making money from your creative enterprise. It discusses things like turnover, cash flow, grants and generating additional income. It also provides some excellent, trustworthy case studies that support the module and make it an excellent piece of information.
Module 5 discusses the concept of research and its importance. it looks at in detail the the benefits of conducting market research, researching customers, market segmentation , researching competitors and how to carry out research.
This module underlines the importance of the legal structure when setting up your own business. It looks at the different types of enterprises you can set up and the business structure which they require, legal and regulatory issues, key resources and further sources of support.
Module 7, "Making Profit from Imagination" examines the keys concepts of the business sector in relation to finance. It gives a brief overview of business finance, including turnover, business costs, cash flow, financial planning, and other routes to finance.
This module explores the concept of what an actual enterprise is, it discusses entrepreneurial skills and behaviours and essential skills needed in order to set up a creative enterprise.
This document provides information on accessing finance for those with failed business pasts. It discusses the 4Cs of character, cash flow, capital and credit. Specifically, it focuses on cash flow, explaining essentials like break even points, cash reserves, and only spending on essentials. It provides tips to improve cash flow, such as deposits, credit checks, bundling services, and invoicing promptly. The document also discusses rebuilding credit after bankruptcy by reviewing credit reports, paying collections accounts, and paying down credit cards.
This module, Creative Me, explores the concepts of what is an actual enterprise, entrepreneurial skills and behaviours, the importance of problem- solving skills and the concept of resilience.
The aim of this module is to emphasise the importance of marketing in relation to your business idea. In regards to marketing this course looks at; what is marketing, the four P's of marketing and also it explores the idea of marketing through social media and how to ensure you are maximising its effectiveness.
This module examines the concept of making profit from imagination, meaning making money from your creative enterprise. It discusses things like turnover, cash flow, grants and generating additional income. It also provides some excellent, trustworthy case studies that support the module and make it an excellent piece of information.
Module 5 discusses the concept of research and its importance. it looks at in detail the the benefits of conducting market research, researching customers, market segmentation , researching competitors and how to carry out research.
This module underlines the importance of the legal structure when setting up your own business. It looks at the different types of enterprises you can set up and the business structure which they require, legal and regulatory issues, key resources and further sources of support.
Module 7, "Making Profit from Imagination" examines the keys concepts of the business sector in relation to finance. It gives a brief overview of business finance, including turnover, business costs, cash flow, financial planning, and other routes to finance.
This module explores the concept of what an actual enterprise is, it discusses entrepreneurial skills and behaviours and essential skills needed in order to set up a creative enterprise.
This document provides information on accessing finance for those with failed business pasts. It discusses the 4Cs of character, cash flow, capital and credit. Specifically, it focuses on cash flow, explaining essentials like break even points, cash reserves, and only spending on essentials. It provides tips to improve cash flow, such as deposits, credit checks, bundling services, and invoicing promptly. The document also discusses rebuilding credit after bankruptcy by reviewing credit reports, paying collections accounts, and paying down credit cards.
This module, Creative Me, explores the concepts of what is an actual enterprise, entrepreneurial skills and behaviours, the importance of problem- solving skills and the concept of resilience.
This module examines the idea development process of starting up your own business. It also explores the concept of finding the right business idea for you, the mysterious art of idea generation and idea generation techniques.
The document discusses business opportunities and how entrepreneurs can identify them. It defines a business opportunity as an economic idea that can be implemented to start a profitable business venture. It states that opportunities must have an assured market, attractive returns, be practical, allow the entrepreneur's competence, and have growth potential. Entrepreneurs must analyze ideas based on these factors to identify true opportunities.
The document discusses the entrepreneurial process, which consists of 5 main steps:
1) Discovery - identifying business opportunities through gathering inputs and evaluating feasibility.
2) Developing a business plan - creating a comprehensive plan that describes the business goals, products, competition, and financial needs.
3) Resourcing - identifying sources of financing and hiring personnel.
4) Managing the company - setting up management structures and initiating business operations.
5) Harvesting - evaluating growth, comparing it to plans, and deciding on the future of the business. Identifying opportunities and developing a strong plan are critical early steps to set up a new venture for success.
1. Business opportunities can come from solving problems and meeting consumer needs. Sources of ideas include consumers, existing products/services, distribution channels, government policies, brainstorming, personal interests/experience, trade shows, and more.
2. Consumers are a key source as their wants and preferences are always changing, so understanding customer feedback is important.
3. Existing products and services can be analyzed to identify weaknesses and opportunities to offer improved alternatives.
4. Distribution channels like retailers are well-acquainted with customer wants and can provide ideas for new products or modifications.
The document discusses the importance of customer development, validation, and creating personas before building a product. It advises talking to customers through phone calls and small experiments before spending money on development. This validates that there is real demand. Building something customers want and then continuously learning from customers through iteration is key to success. Tools now make it easy for entrepreneurs to gain customer insights without large budgets. The document emphasizes not making assumptions and getting out of "echo chambers" to test ideas on real customers. Creating personas can help entrepreneurs understand different customer segments and scaffold their markets.
The document provides tips and advice for starting a new business from experts who have started their own businesses. It discusses researching market opportunities, developing a business plan, choosing a business structure, financing, hiring staff, branding, marketing the business, and common mistakes to avoid. The key steps outlined are researching your business idea, writing a business plan, registering your business as the proper structure, obtaining financing and suppliers, hiring staff if needed, developing a brand and marketing strategy, and getting the word out about your new business.
This document provides an overview of entrepreneurship and growing a startup business. It discusses identifying markets by examining potential customers and their needs. Successful entrepreneurs should research their skills and structure their business accordingly. The document then discusses growing a startup, noting that only 30% grow to full companies in Cameroon. It recommends asking if demand is growing and if you can meet customer demands while maintaining quality. It suggests diversifying products/services, winning government contracts, and expanding online as ways to grow. Networking is said to be the fastest way to success by meeting people who can help with fundraising and results.
There are four main sources of business ideas according to research: spotting trends and anticipating their impact, identifying market niches, copying successful ideas from other countries, and taking a scientific approach to inventing new products. Another approach is franchising, where a business purchases the right to sell an established brand's products or services. Franchising offers benefits like lower risk and startup costs compared to independent businesses, but also drawbacks like high initial and ongoing costs and less freedom to operate independently of the franchisor.
Branka Bukvic- Local Business Opportunitieskragujevac
The document provides an overview of a training on local business opportunities. It discusses various topics that will be covered over 5 days of training, including becoming an entrepreneur, evaluating opportunities, measuring success, conducting research, and developing an idea into a business. The trainer's qualifications are outlined. Each day's agenda and activities are described in detail. Methods for evaluating business ideas and opportunities are explored, such as conducting market research, assessing customers and competition, and defining critical business elements.
Practical entrepreneurship training part 3 Building team and product/servicekieranm01
This is part 3 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this third part the emphasis is on the people side of a start-up, founder composition, dynamics of a start-up team, success failure factors, role of leader, role of mentor etc. There is also a smaller section looking at how you approach building your product or service.
Practical entrepreneurship training part 2 Sales & marketingkieranm01
This is part 2 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this second part the emphasis is on how to sell, how to structure your value proposition and how to engage customers.
Practical entrepreneurship training part 1 Spotting the Opportunitykieranm01
This is part 1 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this first part the emphasis is on spotting the opportunity and then assessing/validating whether the opportunity has potential to progress with. The final section looks at idea generation with practical start-up examples from around the world.
The document provides 20 points about marketing that entrepreneurs should understand. It notes that marketing problems are solved through ideas, positioning is a measure of success, brands are valuable assets, and advertising agencies have changed. It emphasizes the importance of knowing your unique selling proposition and differentiating yourself from competitors. The document stresses that marketing is not just promotion but building a brand, and that results are not always easy to measure. It encourages learning from other successful companies and having a vision beyond focus groups.
What is social enterprise an irish perspectiveDonncha Hughes
Social enterprises are businesses that have a social mission at their core. They generate income through trading to provide essential services and address social and environmental issues in their communities. Any profits are reinvested back into the business or community to continue providing benefits. Examples from Ireland include companies providing educational apps and books for children, personal health records, and psychological services for youth. The document provides an overview of social enterprises and introduces a social enterprise startup programme to guide participants through establishing their own social enterprise.
The document provides tips for businesses to get more leads and sales, including performing a SWOT analysis; understanding clients and areas of expertise; clearly articulating why a business should be chosen; knowing competitors; giving inspiring presentations; spreading information online; and developing a referral network.
Presentation presented by Hany Sewilam AbdelHamid @Dubai Media City - Arab Business Conference - August 2017 about the marketing communication mix between the USP & 4Ps
Marketing And Social Media - Central South Manchester Nov. 09JohnKeys
This document provides an overview of marketing principles and social media basics to help attract customers to a website. It discusses defining marketing and differentiating it from sales. Key marketing concepts covered include market research, developing a marketing plan, market segmentation, analyzing competitors, and establishing a unique selling proposition. Traditional and digital marketing channels are compared, with examples of using social media like Facebook, blogs, and video sharing sites. Risks of social media are also briefly mentioned.
Attracting Customers To Your Site - Marketing and Social Networks - South Man...JohnKeys
Once you have a website you need to attract customers. The key to success is the development of a marketing plan which includes a mix of offline & online routes.
3. Attracting Customers To Your Site - Marketing and Social Networksmdda
This document provides an overview of marketing concepts and strategies for attracting customers to a website. It discusses marketing definitions, the differences between marketing and sales, marketing basics like market research and the 4 Ps (product, price, place, promotion). It also covers topics like unique selling propositions, feature/advantage/benefit, competitors, marketing segmentation, social media marketing channels and examples, characteristics of social media, and potential risks.
This module examines the idea development process of starting up your own business. It also explores the concept of finding the right business idea for you, the mysterious art of idea generation and idea generation techniques.
The document discusses business opportunities and how entrepreneurs can identify them. It defines a business opportunity as an economic idea that can be implemented to start a profitable business venture. It states that opportunities must have an assured market, attractive returns, be practical, allow the entrepreneur's competence, and have growth potential. Entrepreneurs must analyze ideas based on these factors to identify true opportunities.
The document discusses the entrepreneurial process, which consists of 5 main steps:
1) Discovery - identifying business opportunities through gathering inputs and evaluating feasibility.
2) Developing a business plan - creating a comprehensive plan that describes the business goals, products, competition, and financial needs.
3) Resourcing - identifying sources of financing and hiring personnel.
4) Managing the company - setting up management structures and initiating business operations.
5) Harvesting - evaluating growth, comparing it to plans, and deciding on the future of the business. Identifying opportunities and developing a strong plan are critical early steps to set up a new venture for success.
1. Business opportunities can come from solving problems and meeting consumer needs. Sources of ideas include consumers, existing products/services, distribution channels, government policies, brainstorming, personal interests/experience, trade shows, and more.
2. Consumers are a key source as their wants and preferences are always changing, so understanding customer feedback is important.
3. Existing products and services can be analyzed to identify weaknesses and opportunities to offer improved alternatives.
4. Distribution channels like retailers are well-acquainted with customer wants and can provide ideas for new products or modifications.
The document discusses the importance of customer development, validation, and creating personas before building a product. It advises talking to customers through phone calls and small experiments before spending money on development. This validates that there is real demand. Building something customers want and then continuously learning from customers through iteration is key to success. Tools now make it easy for entrepreneurs to gain customer insights without large budgets. The document emphasizes not making assumptions and getting out of "echo chambers" to test ideas on real customers. Creating personas can help entrepreneurs understand different customer segments and scaffold their markets.
The document provides tips and advice for starting a new business from experts who have started their own businesses. It discusses researching market opportunities, developing a business plan, choosing a business structure, financing, hiring staff, branding, marketing the business, and common mistakes to avoid. The key steps outlined are researching your business idea, writing a business plan, registering your business as the proper structure, obtaining financing and suppliers, hiring staff if needed, developing a brand and marketing strategy, and getting the word out about your new business.
This document provides an overview of entrepreneurship and growing a startup business. It discusses identifying markets by examining potential customers and their needs. Successful entrepreneurs should research their skills and structure their business accordingly. The document then discusses growing a startup, noting that only 30% grow to full companies in Cameroon. It recommends asking if demand is growing and if you can meet customer demands while maintaining quality. It suggests diversifying products/services, winning government contracts, and expanding online as ways to grow. Networking is said to be the fastest way to success by meeting people who can help with fundraising and results.
There are four main sources of business ideas according to research: spotting trends and anticipating their impact, identifying market niches, copying successful ideas from other countries, and taking a scientific approach to inventing new products. Another approach is franchising, where a business purchases the right to sell an established brand's products or services. Franchising offers benefits like lower risk and startup costs compared to independent businesses, but also drawbacks like high initial and ongoing costs and less freedom to operate independently of the franchisor.
Branka Bukvic- Local Business Opportunitieskragujevac
The document provides an overview of a training on local business opportunities. It discusses various topics that will be covered over 5 days of training, including becoming an entrepreneur, evaluating opportunities, measuring success, conducting research, and developing an idea into a business. The trainer's qualifications are outlined. Each day's agenda and activities are described in detail. Methods for evaluating business ideas and opportunities are explored, such as conducting market research, assessing customers and competition, and defining critical business elements.
Practical entrepreneurship training part 3 Building team and product/servicekieranm01
This is part 3 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this third part the emphasis is on the people side of a start-up, founder composition, dynamics of a start-up team, success failure factors, role of leader, role of mentor etc. There is also a smaller section looking at how you approach building your product or service.
Practical entrepreneurship training part 2 Sales & marketingkieranm01
This is part 2 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this second part the emphasis is on how to sell, how to structure your value proposition and how to engage customers.
Practical entrepreneurship training part 1 Spotting the Opportunitykieranm01
This is part 1 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this first part the emphasis is on spotting the opportunity and then assessing/validating whether the opportunity has potential to progress with. The final section looks at idea generation with practical start-up examples from around the world.
The document provides 20 points about marketing that entrepreneurs should understand. It notes that marketing problems are solved through ideas, positioning is a measure of success, brands are valuable assets, and advertising agencies have changed. It emphasizes the importance of knowing your unique selling proposition and differentiating yourself from competitors. The document stresses that marketing is not just promotion but building a brand, and that results are not always easy to measure. It encourages learning from other successful companies and having a vision beyond focus groups.
What is social enterprise an irish perspectiveDonncha Hughes
Social enterprises are businesses that have a social mission at their core. They generate income through trading to provide essential services and address social and environmental issues in their communities. Any profits are reinvested back into the business or community to continue providing benefits. Examples from Ireland include companies providing educational apps and books for children, personal health records, and psychological services for youth. The document provides an overview of social enterprises and introduces a social enterprise startup programme to guide participants through establishing their own social enterprise.
The document provides tips for businesses to get more leads and sales, including performing a SWOT analysis; understanding clients and areas of expertise; clearly articulating why a business should be chosen; knowing competitors; giving inspiring presentations; spreading information online; and developing a referral network.
Presentation presented by Hany Sewilam AbdelHamid @Dubai Media City - Arab Business Conference - August 2017 about the marketing communication mix between the USP & 4Ps
Marketing And Social Media - Central South Manchester Nov. 09JohnKeys
This document provides an overview of marketing principles and social media basics to help attract customers to a website. It discusses defining marketing and differentiating it from sales. Key marketing concepts covered include market research, developing a marketing plan, market segmentation, analyzing competitors, and establishing a unique selling proposition. Traditional and digital marketing channels are compared, with examples of using social media like Facebook, blogs, and video sharing sites. Risks of social media are also briefly mentioned.
Attracting Customers To Your Site - Marketing and Social Networks - South Man...JohnKeys
Once you have a website you need to attract customers. The key to success is the development of a marketing plan which includes a mix of offline & online routes.
3. Attracting Customers To Your Site - Marketing and Social Networksmdda
This document provides an overview of marketing concepts and strategies for attracting customers to a website. It discusses marketing definitions, the differences between marketing and sales, marketing basics like market research and the 4 Ps (product, price, place, promotion). It also covers topics like unique selling propositions, feature/advantage/benefit, competitors, marketing segmentation, social media marketing channels and examples, characteristics of social media, and potential risks.
The document summarizes key aspects of developing a marketing plan for a small business, including conducting market research, understanding customers and competitors, creating a unique value proposition, developing marketing strategies, setting budgets, and determining pricing, location, and distribution channels. It provides tips on different types of marketing such as search engine marketing, blogging, social media, and promotion through various industry-specific sites. The overall message is that a systematic marketing plan is needed to effectively promote a business and compete in the marketplace.
This module discusses strategies for stimulating demand for food incubators. It covers developing an effective brand, communicating your message through marketing, creating a website, using social media, and the power of storytelling. Key points include profiling potential users, translating product features into benefits, developing branding with core values and vision, and telling an impactful brand story. The goal is to attract tenants and users through authentic and consistent communication across multiple channels.
This document discusses marketing strategies and communications channels. It defines a value proposition and how to communicate it effectively in an elevator pitch. It also covers the marketing mix of the 4 Ps - price, product, place and promotion. Finally, it discusses the differences between internal and external marketing and reviews traditional and digital media options, noting that the best strategy combines multiple channels.
Imagine Advertising believes marketing should be enjoyable like candy, not medicinal. For over 20 years, they have helped brands increase sales through innovative strategies and tactical execution. They provide a full range of marketing services including creative design, strategic planning, social media, partnerships, and more to interrupt, incentivize, and interact with consumers. Their goal is to outsmart competition without outspending them.
This document discusses marketing and the marketing mix model. It defines marketing and explores various elements of the marketing environment including economic, legal, political, demographic, competitive, cultural, institutional, and technological factors. It then explains the marketing mix model using the four Ps - product, price, place, and promotion. Specific questions are provided for each P to help define marketing strategies. The document also discusses tools and instruments used for tourism marketing, including various forms of advertising, public relations, trade shows, and word-of-mouth promotion.
Empowerment through Enterprise - sales and marketing, the engine and the energycaniceconsulting
This document provides guidance on branding and marketing for small businesses. It discusses developing a brand story and defining the target market. Key aspects of branding covered include coming up with a name, choosing colors, building credibility, and creating consistent branding across all marketing materials. The document also distinguishes between marketing and sales, emphasizing that marketing is long-term relationship building while sales focuses on individual transactions. It provides tips on digital marketing tools like websites, social media, and email marketing to promote small businesses.
The document discusses strategies for marketing and branding a food incubator. It emphasizes developing a clear brand identity centered around core values and messaging. Marketing should focus on translating product features into tangible benefits for customers and potential tenants. Successful branding tells an emotional story and stands out by appealing to the target demographic. The document provides examples of branding from other food incubators and suggests targeting a wide range of stakeholders through various media outlets and events.
The marketing mix, also known as the 4Ps, refers to product, price, place, and promotion - the key elements that help achieve marketing objectives. The document discusses each element in detail. It explains that product refers to the good or service, and marketers must understand the product's benefits and life cycle. Price is what customers pay, and it is important to select an accessible price that meets business goals. Place refers to where the product is sold and delivered, which should target the intended customer locations. Promotion covers advertising the product through various traditional and digital marketing strategies to spread awareness among the target market. The document provides questions under each element to help identify successful strategies.
This document provides an overview of marketing and sales strategies for entrepreneurs and startups. It discusses key concepts like the sales process, sales funnel, understanding customer behavior, and the 4Ps of marketing - product, price, place, and promotion. Specific tips covered include cold calling prospects, closing deals, asking for referrals, exhibiting at trade shows, content marketing, digital marketing tactics, and challenges of global marketing. The document also outlines what investors look for in a marketing plan such as target segments, growth rates, cost of customer acquisition, sales cycle, partnerships, and competitive landscape.
The document provides an overview of key marketing concepts including:
- Defining marketing and its objectives such as understanding customer needs.
- Identifying target customers and creating customer personas.
- Understanding the differences between features, benefits, and advantages when communicating value to customers.
- Segmenting consumer and business customers.
- The differences between marketing products and services.
- Developing a marketing communications plan covering objectives, audiences, messaging, and media.
This document summarizes a presentation on advertising and marketing strategies. It discusses elements of successful advertising campaigns, including unique selling propositions and creating a sense of urgency. It also covers the three R's of retention, cost per impression, integrating promotional products with other media like websites and mobile. Additional topics include trade show marketing, the three levels of selling, strengths of promotional products, and maximizing your online presence through websites and social media. The presentation emphasizes creating value, differentiation, and becoming an expert in order to succeed in marketing.
Marketing involves communicating the value of a product or service to customers for the purpose of promoting and selling that product or service. Key marketing processes include identifying opportunities, developing new products, attracting and retaining customers through building long-term relationships. Traditional marketing uses strategies like advertising and printed materials while online marketing uses digital strategies like social media, emails and websites. Effective marketing determines a product's unique selling proposition and uses techniques like content creation, partnerships, and social media to promote benefits and separate from competition.
From the very start of development, your business model should be at the centre of your attention, because everything – product design, team composition, PR and marketing – ties in and is determined by the business model you choose. Step by step presentation of the Business Model Canvas. Introducing a tool to digital developers build their business model.
Branding in the 21st century faces new challenges due to fast-paced technology, hypercompetition, and overwhelmed customers. Traditional branding using one-way communication is outdated, and new techniques are needed using mobile, social media, and addressing sustainability. Effective branding now requires understanding customer needs, differentiating the brand, and communicating a consistent promise to build loyalty through emotional connections rather than just selling products.
PROMOTING GREEN ENTREPRENEURSHIP AND ECO INNOVATION FOR SUSTAINABLE GROWTH.docxnehaneha293248
: This study investigates the multi-faceted relationship between entrepreneurship, innovation, and sustainability across countries at different development levels. We construct a novel dataset combining measures of entrepreneurial activity, innovation outputs, and sustainability performance indicators related to economic, social, and environmental dimensions.Using country-level panel regression analysis, we find that entrepreneurship rates and attitudes are positively associated with social sustainability factors like education, gender equality, and institutional quality. However, high entrepreneurship levels do not necessarily correlate with better environmental sustainability outcomes, suggesting entrepreneurs may prioritize economic objectives over environmental ones.The results for innovation are more mixed. Greater innovation output is linked to higher economic development, but also associated with both positive and negative sustainability factors. This implies that while innovations drive economic progress, they may come with environmental costs without complementary policies. The findings suggest that entrepreneurship supports social sustainability, but pursuing entrepreneurship and innovation alone is insufficient for achieving environmental sustainability goals. We discuss policy implications, including strengthening education and skills, improving access to financing for sustainable ventures, incentivizing green innovation, and developing sustainability reporting standards. By aligning entrepreneurship and innovation with sustainability priorities, policymakers can harness these dynamic forces to create more sustainable, inclusive, and resilient economies.
Ecofrico: Leading the Way in Sustainable Hemp BackpacksEcofrico
Explore Ecofrico's commitment to sustainability with our range of eco-friendly hemp backpacks. Discover how we combine ethical production, durable materials, and global reach to promote a greener future.
1. Entrepreneurial mind sets
This programme has been funded with support from the
European Commission
The Marketing Mix
Module 6
2. Overview of marketing
No matter how much you might love your idea,
there’s no point in taking it any further if
nobody else is going to love it.
That’s where good old marketing comes in.
3. Overview of marketing
Here are just a few of the questions that you’re
going to need to answer:
•Would your “target market” actually want this?
•What is your Unique Selling Point?
•Where will they buy from me?
•Have you thought about the price or fee you can
charge?
•Is it going to be worth your while?
•What type of marketing will work best for you?
•Where and when and how are you going to
market it?
4. What is marketing?
Identifying and satisfying your customers’ needs at a profit
Selling
Marketing Mix (4 Ps)
Market Research
MARKETINGPROCESS
5. Marketing mix - The four P’s of Marketing
Goods or services provided by a businessPRODUCT
PRICE
PROMOTION
PLACE
Where customers can buy products/services or
how products/services are distributed
Amount charged for products and services
How a business creates awareness in the market
6. Market planning is about getting the right balance
between the four marketing Ps. Different marketing
mixes can be used for different target customers.
7. Products and services must appeal to potential
customers. You have to ensure there is demand for
your product and state what is unique about it.
Factors to consider:
• Customer needs and wants
•Product mix / portfolio
•Features and benefits
•Quality
•Appearance
•Market position
•Costs
•Profit margin
•Product shelf life
PRODUCT
8. Features Benefits
Greek yogurt is nutritious and packed
with protein
Choosing Greek yogurt makes you
healthies and more satisfied
This phone case is made with layers of
carbon fibres and reinforced plastic
With this case your phone could survive
any fall
Just add to only add water, stir and cook Requires minimal kitchen time and labour
Free shipping Saves you money
Wig – made from real hair More durable
The features are great ways to define what a product is, but the
benefits speak right to the people buying your product, and
communicate how the product makes their lives better.
PRODUCT
9. USPs
The ‘Unique Selling Points’ of a product/service
states clearly the features and benefits that make
your product or service different from your
competitors. For example, is it made of better quality
materials? Is it more prestigious? Or the only one of
its kind on the market? Your product may share
certain features with similar items, for example, all
fruit drinks include fruit and are drinkable. The
unique benefit of your product may be that it’s
proven to improve your skin. This would be your USP
if it’s the only fruit drink on the market that can do
this.
PRODUCT
10. Examples of USPs:
•Unique function or feature
•Higher specification
•Unique design
•Technical feature
•Better quality
•Locally sourced materials
PRODUCT
11. Find your niche
The creative, digital and performing arts
industry has plenty of businesses offering
similar or the same product and it can be
especially hard for consumers to
differentiate between all the options.
The truth is, no matter how talented you
are and no matter how awe-inspiring your
art may be, some consumers may not be
able to tell the difference, and when faced
with a choice, they will almost always
choose the most convenient option.
PRODUCT
What niche?
12. Find your niche
This is why you need to find a niche product/service, something
that others aren’t offering, something that will make you and
your business unique and recognisable – make is stand out from
the crowd!
Maybe that means focusing on portraits if you are an
accomplished painter, or 3D designs if you are a graphic artist.
No matter what the niche is, you should try to find one. That
doesn’t mean you can’t include your other art in your business,
but you may find a much more passionate customer base if you
specialise in one type of art and become known for your ability
to create that one type of art.
PRODUCT
13. PLACE
Where will customers buy your work?
There are now many different options for you to sell your
products as a designer or maker. You can sell direct to the
public through markets, pop-ups and online shops, or you
can sell through established retailers, boutiques and
galleries.
14. Show & Sell - Ways of selling your creative products:
• Work from home
• Porta cabin
• Directly at specific events -
exhibitions, open studios, pop-
up shops, markets and catwalk
shows
• Online marketplace i.e. Etsy,
eBay, Not on the High Street
• E-commerce website
• Shop
• Wholesale via galleries, shops
or at trade shows
• Van / mobile sales
• Through re-sellers
• Rented workshop space i.e. for
workshops
• Directly to private collectors or
through commission
• Customer’s premises
• Innovation/start up hub
• Unit at a Local Enterprise
Agency
• Unit at an industrial park
PLACE
17. PRICE
It is vital that you understand the relationship between
price, cost and profit. This is outlined below:
COST PRICE PROFIT
What is costs to make
including time, materials
and overheads
What you can charge in
the market place
based on value and
cost
= Price - cost
18. PRICE
Things to consider:
•Competition - what competitors charge for similar
products or services
•Cost to produce it
•Set at a level that the market will accept
•Is it a luxury or mass market item?
Don’t undervalue
your product or your
time
19. PRICE
The dynamics of the creative sector do not necessarily
always operate in the same way as for businesses in other
sectors in the economy. The creative sector is based on
‘symbolic goods’ (films, plays, music) where value is
essentially dependent on the audience/consumer finding
value in their meanings – so value is dependent on audience
perception as much as creative content, which may or may
not translate into a commercial return.
Think profit!
The price of your product or service must include both the
costs to produce it and the additional costs associated with
selling it.
20. PROMOTION
If your business is invisible, it
can't progress, so letting your
target market know about what
your business does and how it
can benefit them is one of the
most important keys to success.
The internet is making it more
and more possible and,
importantly, less expensive, to
reach customers directly. And
there are many effective 'offline'
methods which can provide a
very valuable complement to
your online activities.
Marketing
Communications
Mix
Advertising
Sales
Promotion
Events &
Experiences
PR &
Publicity
Direct
Marketing
Interactive
Marketing
Personal
Selling
21. PROMOTION
Offline Promotional Methods
•Personal selling i.e. networking
•Free samples
•Word of mouth
•Signage
•Demonstrations
•Sales promotion i.e. BOGOF
•Advertising i.e. business cards
•Stationary i.e. Invoices, letter heads
•Publicity i.e. press releases, competitions
22. PROMOTION
Online Promotional Methods
•Social media i.e. Facebook, Twitter, Instagram and Pinterest
•Facebook competitions and promotions
•Blogs
•Videos
•Website (include gallery to showcase images of your work)
•Email marketing i.e. Mailchimp (free and easy to use)
The balance of a promotional mix will depend on the
marketing objectives, business type, target market and
promotional budget.
23. PROMOTION
Choosing a promotion method
Choosing the right method of promotion for a
business can be difficult. There are many factors to
consider such as:
•the target audience
•effectiveness
•message
•budgets and costs
•methods available
•timing
•legal issues
•graphic design ability
What? How? When? Costs?
PROMOTIONAL PLAN
24. PROMOTION
Choosing a promotion method
Be clear about the purpose of the promotion
method e.g. to create an awareness of a product
or service. Consider how competitors promote
their businesses and look for best practice
methods.
Monitor the impact of a promotional method
carefully. This can be done by asking customers
how they heard about the business and calculating
the number of sales generated by a promotional
method. promotional activity should be planned
carefully.
26. Social Media
Creative entrepreneurs can benefit from
using social networking systems such as
Flickr, YouTube, Facebook, Twitter,
Instagram and Pinterest. They are the
equivalent of the ‘small talk’ which happens
in face to face business networking and
meetings.
It is these snippets of information which help
people to bond, like each other and build
trust between them. The message must be
right for the medium and so in contrast with
business websites, the information on social
networking sites is more personal, the
atmosphere is more ‘laid back’, and the
etiquette more informal.
28. Top tips - Social Media
Social media will come naturally to young, creative
people, so use this to network and reach out to
people online.
As an artist, you can use Facebook to keep up with
other creative people and to follow mentors and
creative groups. Twitter is really useful: not for
direct selling, necessarily, but just to make contact
with people in the creative, performing and digital
arts industry.
As a designer or artist products are visual by nature.
Instagram and Pinterest are a perfect fit to display
your work and visual inspiration.
29. Top tips - Social Media
For many people, image-focused social media channels
are less time and energy draining than Twitter and
Facebook.
Social networks like Twitter, Facebook, Pinterest,
YouTube, Blogs and Instagram are cheap and potentially
effective tools to promote your work and establish a
voice as an artist. They are also a great way of keeping
people up-to-date about your projects.
Keep your personal life separate from your business
contacts i.e. create a Facebook business page for your
new creative enterprise. This allows you to post on
Facebook and interact with other users without giving
them access to your personal Facebook account.
30. Top tips
Website
A website can serve as a virtual portfolio of your work.
Add some personal information so that customers can
relate to you and become impressed by your
accomplishments.
Videos and blogging are also great ways to promote a
creative enterprise.
Build up a contact list to stay in touch with previous
clients and other creatives.
31. Top tips
Talk to people - Go out and talk to anybody, you never
know where help may come from.
Having a website, blog and online shop is so easy now
that you don’t have to invest lots of money to get
something out there.