Business 100 Introduction to Business Dr. Kathy Broneck

Review Management Team Financial Plan Capital Required

Preview Marketing Plan Location Analysis Manufacturing Plan

Marketing Plan Marketing Plan Overview Competitors Advertising Promotions Public Relations

Marketing Plan Marketing Plan Overview General paragraph on marketing strategies Competition Who else is in the same or similar markets? Are they “big” companies or mom-and-pop stores? Can people easily substitute your product? What effect will this have?

Marketing Plan Advertising What methods are you planning on using to advertise your product? (radio, TV, newspapers, direct mailings) Justify why this/these is/are the best way to advertise Promotions How do you plan to promote your product? Coupons, freebies, samples

Marketing Plan Public Relations Program Proactive: Holding press conferences about new products, problems you *may* encounter – “canned” positive press Reactive: In case of an emergency, how do you plan on handling bad press?

Location Analysis Where do you plan to sell your goods from? Remember to justify why you choose this spot! Demographics of Customers Where do your targeted customers live? Can they easily get to the location you are selling your wares? Internet Building

Manufacturing Plan Overview Brief description on how you are setting up shop Factory In-house Outsourcing

Manufacturing Plan Land/Building/Space Requirements Specifications of the physical space you will need for your business Machinery Requirements Do you need specialized machines to create your product? Box folders, robotic arms, etc?

Task for Today Start writing: Marketing Plan Location Analysis Manufacturing Plan