1. Identify and Meet a Market Need4
Identify and Meet a Market Need
4.1 Identify Your Market
4.2 How to do Research
4.3 Identify Competition
4.4 The Marketing Mix
4.5 Promotion and Goals

2. Promotion Advertising Types of Advertising
Choosing your message – targeting and clarity
Types of Advertising
Media: Television, Radio
Print: Newspaper, Magazine, Telephone Book, Direct-Mail
Online
Chapter 4

3. Promotion Other forms of advertising Publicity – free promotion
Billboards
Transit
Public school and local publications
Restaurant placemats
Publicity – free promotion
Media coverage
Press release
Chapter 4

4. Promotion Other forms of promotion Sales promotion / incentives
Contests, free samples, coupons, rebates, frequent purchaser programs, gifts, and special events.
Personal selling
Telemarketing
Chapter 4

5. Promotion Other forms of promotion
Public Relations – establishing a favorable relationship with customers and the public
Advertising and promotions are both public relations activities
Community involvement, donations, and being personable are also PR activities
Chapter 4

6. Establishing Your Goals
Short-term goals – one year; number of customers, sales, profits
Medium-term goals – two to five years; Market share – percentage of market owned by a business
Long-term goals – five, ten, twenty years; mail order division, web site, larger storefront
Chapter 4

7. Write Your Marketing Plan
Do this after you have determined all your strategies and goals.
May be needed to obtain financing.
Quick guide to creating a marketing plan for your small business (2:19)
Chapter 4

8. 4P’s
Product
Price
Place
Promotion
Chapter 4

9. SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
Chapter 4

10. PETS
Political
Economic
Social
Technological factors
Chapter 4