Marketing Your Business Personal Finance/Entrepreneurship – Ms. Jiracek

Objective Discuss the concept of marketing Learn how important it is to the success of a new and even existing businesses What steps you need to take to begin writing your business plan

Who Wants to Be a Millionaire?

Marketing 101 What are you offering? (Products/Services) The unique selling point is? Differentiation is the key to a great business but how will people know if you don’t market!

Demographics Who is your customer? Age, family, size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, social class…. What other differences might affect consumer purchases?

Discussion Question 1 What unique businesses can you think of that be been started locally? What makes them so unique?

Marketing Strategies Internet Marketing Create your own webpage marketing Social networking sites Online ad spaces

Marketing Strategies Cont…. Snail Mail Flyers/Postcards Coupons Printed Ad Space

What marketing methods do you think are effective today? What methods do you think are out-of-date and not worth the time or money? Discussion Question 2

Marketing Strategies Cont…. Mass Marketing Billboards Television Radio

o Tradeoffs/Trade-outs o Sponsorship o Community or Special Events o Merchandise What other methods for marketing can you you think of that might be a great way to get your business known? Other Marketing Techniques

Cost of Marketing Are there FREE marketing strategies out there? How much of my budget should go into marketing? Is the benefit worth the cost? **Ask yourself these questions before you choose your marketing strategy**

Wrap – Up What did we learn today about marketing?

Things to remember….  Most millionaires did not earn there money working for someone else!  Coming up with a great idea is only half the battle  A great idea that NO ONE knows about is not going to be easy to sell  Marketing is the key to getting your business visible and talked about

Discussion Question 3 Explain why marketing is so important to the success or failure of a new business? What is the basic principle behind a marketing strategy? (What is it’s purpose to a new and existing business owner?)

Helpful Resources on Marketing Your textbook! internet-marketing-work/ internet-marketing-work/