Its is market plan for marking || in business

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THE MARKETING PLAN IMPROVING YOUR COMPETITIVE EDGE A Marketing Plan is a written strategy for selling the products/services of a new business. It is a reflection of how serious a company is in meeting the competition head on, with strategies and plans to increase market share and attract customers. An effective Marketing Plan is backed by carefully collected market, consumer and competitor information, sometimes citing professional advice. Why Prepare a Marketing Plan? A good Marketing Plan will help you to improve your odds against more experienced competitors and newly emerging ones. The Plan enables you to recognize and take action on any trends and consumer preferences that other companies have overlooked, and to develop and expand your own select group of loyal customers now and into the future. The Plan also shows to others that you have carefully considered how to produce a product that is innovative, unique and marketable- improving your chances of stable sales and profits - reasons for investors to financially back you. CONTENTS OF A MARKETING PLAN Title Page · Include the name of the company, period of time that the contents of the marketing plan covers, and completion date. · Use a clean and professional format with examples of the company logo and product designs and packaging types. Table of Contents · List all the contents of the marketing plan in the order they appear, citing relevant page numbers. · List tables, graphs and diagrams on a separate page so that the reader can locate these presentation tools quickly. List the appendices that will be included at the end of your document. Cover Letter · This letter should form a personalized overview of the document. Highlight areas of the plan that are particularly crucial to the reader, providing an indication of how this plan will help your business attain overall success in the future. Historical Background · Give the reader an indication of where your business idea originated, citing the date you began researching into the idea, the existence of any mentors or advisors, the scope of your business (the specific of what the business "does"), and opportunities for expansion. Indicate how the future success of the business can be attributed to the strategies found in the Marketing Plan. Marketing Goals and Objectives To introduce this section, include the "mission statement" of the business; an idea of what its goals are for customers, clients, employees and the consumer, then proceed with: Sales Objectives · Compare your prospects for future sales with either past performance, or a general industry performance report. By analyzing the industry average as well as your own performance you will demonstrate to the reader that you can look "beyond your borders" to the competition to give yourself an idea of how well you are performing, or what general difficulties the whole industry may be facing. · Identify industry wide problems and create strategies to challenge them. This will also demonstrate that you have the necessary foresight to allow you to recognize problems in the future. · Set "benchmarks" for your sales objectives by using quarterly reports as a way of evaluating the success of your overall marketing approach. Indicate how much "market share" you intend to collect over the next 5 years, to show that you expect to advance your position against your competitors using your "individual" approach. Profit Objectives · Include your predictions for after tax profit for each of the next five years. Relate this profit assumption based on the contents of your operating budget's costs figures found in your Business Plan. · Indicate how you will reinvest your profit margin in specific areas of the Marketing Plans future activities, as well as countering operating and start up costs you already have. Don't neglect the future of the Marketing Plan because you have to defer the costs you already have. A sound Marketing Plan should do more than "pay for itself" and its activities. Pricing Objectives · Focus on the weaknesses of your competitors by offering better quality at a competitive price. Remember what your own attitudes are towards products you consume on a day to day basis. Remember how you react to high prices for poor or marginal quality or service. · Justifying your prices for your product or service while thinking like a customer will give you an advantage. Survey a sampling of your potential customer group and ask them directly how they feel about competitors products, services, industry prices and any areas for improvement. Product Objectives · Much like what you would be doing for your prices, focus on the wants, needs and perceptions of your consumers and the general public. Identify any problems for your industry/product. · Show how you will attract more customers while keeping the ones you have. Determine the determining factors of customer preference towards a product, like price, or social considerations such as environmental impact, product quality or convenience. · Indicate the goals you have for quality of service, level of service (speed and accuracy), customer satisfaction, and your own flexibility to support consumer demands and requests. Market Analysis · Examine whether or not your industry is growing, maturing or declining. · If it is declining, identify the problems that exist and be able to change the ones you can. Show how you can adapt to changes that you can't control. · If your industry is maturing, show how as a new company, you may be able to better adapt to external forces; better than the more mature competition. · In a newly emerging and growing market (the best scenario), differentiate yourself from new competitors. Show how you expect to become a major market share holder, using a new approach to the marketplace and utilizing the latest technology. Identify the older methods of generating your product/service being challenged by your business' approach. · Acknowledge the problems and challenges of the marketplace you are entering. Use your analysis to construct a strategy that will put you ahead of your competition. · Look to ways of prolonging the "life" of your business if you recognize that what your getting into is threatened by newly emerging technologies and business approaches. To advance your business in the new economy means finding your "niche", or, creating one of your own. · In your market analysis focus is on key areas like industry wide sales performance. Acknowledge why sales (as a whole) may be declining. Look to national and provincial averages, citing reasons for poor performance. Reasons can be both external to a particular businesses operations, or internal to the way the business operates. People called "industry analysts" have developed a way of determining the causes of business failures, focusing on the direction newly emerging business can take to realize success. Reference these professionals. · Your focus should also turn to the local scene, since local markets may or may not follow the greater industry trend for various reasons. Compare the local situation to the national and provincial averages; the trends in sales, and the estimated total market that can be reached by local companies. · Recognize the position your local competitors have taken in the local market; the clientele they serve, the product they produce, the price they expect to charge for their products and services. · Finally, relate your own businesses position to the position of others, reflecting on the maturity and experience of your business competitors. Environmental Analysis - Global Business Environment Conduct an environmental analysis to look at and comment on the world in which you will be operating. Unemployment rates for the past 2 to 5 years and the impact it has had on sales and the overall customer base is an effective way of demonstrating the effect of "external" pressures onto your business. Threats due to environmental conditions (like unemployment, layoffs, recession, high interest rates) reduce consumer activity, and should be explored in your marketing plan. Political and Legal · Identify the regulations, permits, insurance, liability, municipal zoning and taxation requirements that you must follow in order to operate your business. · The business climate of your town, village and surrounding area is an important influence on your day-to-day operations. Reflect on topics such as taxation, zoning and other factors. Demographics · Describe the population base that exists to support your product. Identify the market size for your product, and the people that make up your product/service's consumer group. Provide information about: · Where they live, What products do they buy, How much they spend on similar products each year, · Where they shop for these products, etc. Indicate whether or not your product is geared towards a specific age group, with spending patterns and consumer demands. Indicate whether this group is shrinking, expanding or yet to be tapped into. Environmental Analysis - Local Business Environment Conduct an environmental analysis that looks at and comments on your local area and your network of business contacts, competitors and customers. Suppliers · Identify your sources for direct purchasing by describing their locations, the frequency of your orders and the type and amount of supplies you will be ordering. Social/Cultural · Explain any particular client support or other specialized consumer groups that can be identified apart from the general public. Describe the spending and product requirements of these groups and the characteristics of your company that support the product and services they are demanding. Indicate whether your product is part of the day to day activities of a specific group or the general public. Identify the influence this will have on your projected sales. Identify your networking contacts in the community, and the overall atmosphere surrounding your business. Identify the influence this will have on your projected sales. Predict the receptiveness of your product concepts, and how the community perceives your business. · Describe the expected response to your advertising, and how this will boost sales. Indicate what overall market trends you will be following in order to stay current and "in touch" with the public. What special techniques will you be employing in order to match consumer demands. Competition · Identify your direct competition by naming their business, describing their facilities and operations, identifying their share of the consumer market, realizing support for their product and by reviewing the weaknesses of their approach. Consumer Analysis · Identify your target market, describing how your company will meet the needs of the consumer better than the competition does. List the expectations consumers have for your type of product. Since demands may be different, products and services will vary between competitors. Quality, price and after sales service are just some of the areas where this difference occurs. · Identify the segment of the market that will benefit from your product and area of expertise as well as your approach to selling your product or service. · Predict the sales potential that may be realized by tapping into and holding onto your target market, and attracting others through different strategies and approaches. These different approaches can be all done at the same time or be more incremental - obtaining a core audience for your product or service first, then expanding into the rest of the market. Identify the sales potential for each of these target groups. Strengths, Weaknesses, Opportunities and Threats Analysis Strengths · List the strengths of your business approach such as cost effectiveness, service quality and customer loyalty. · List other assets of your operations such as flexibility, innovativeness, response to external pressures, creativity and company stability. · Relate your experience (professionalism, duration and diversity) and the contacts you have made in all areas of your businesses operations - from suppliers to clients, government officials to business professionals. Weaknesses · Describe the areas of weakness in your company's operations, such as government policies and procedures, and management inexperience. · Capital financing, credit, loans and other financial debts should be identified, with strategies to control their effect on your business. · Recognize the limited impact of a new product on the market - its lack of recognition may be attributed to the companies inexperience in promoting. · Recognize that poor performance will mean lower than expected profits - which will result in a lot of the money going to reduce debts rather than improving business facilities, operations and expanding markets. Opportunities · Examine how proper timing, as well as other factors such as your company's innovativeness, may improve your business's chances of success. · Use tools such as customer surveys to emphasize the need for product quality and after sales service. · Relate your company's focus to a segment of the present market that is being overlooked. Threats · List the external threats to your business' success, such a existing and newly emerging competitors, performance of the overall economy, and your dependency on other businesses such as suppliers, retailers and distributors for market access and support. Marketing Focus Product or Service · Identify your product or service by what it is, who will buy it, how much they will pay for it and how much it will cost for you to produce it, why a consumer demand exists for your product, and where your product sits in comparison to similar products/services now available. · Describe the marketplace rationale for the differences between your product and a competitors. Look at quality, price, new ideas/approaches, and how your product appeals to a specific customer base - both existing customers and new customers you hope to attract to the market. · Be specific about how your product/service improves upon those already existing, your use of quality control, post purchase evaluation (and how you will obtain feedback) and the scope of service you will provide: responsibilities, liabilities and expectations. Location · Identify the location of your business, why it is located there (strategic, competitive, economic objectives), your expected methods of distribution, and timing objectives. · Different products have different shelf lives and your estimation of how long your product will remain on the shelf is an important one. Promotion · Describe the type of promotional methods you will use to spread the word about your product. Identify techniques such as word of mouth, radio and newspaper ads. · For radio, focus on a stations music format and its relationship to your products image, broadcast area, cultural focus, age focus, etc. · For newspapers and other print mediums, consider the level at which you wish to advertise (local, regional, provincial, federal, cross-national, etc.), in what mediums (trade magazines, professional, recreational, cultural, hobby, special interest, etc.), how often, and the timing of such advertisements (seasonal, special issues, etc.). · List accessible tradeshows that offer your business and opportunity to display banners and promotional literature. · Explain your use of expensive mediums such as television and billboards. Both are highly expensive, while computer based "bulletin boards" and the Internet can provide a global audience. · Promotion through associations and government support programs offer an opportunity for success stories to advertise. · In store promotions, sidewalk sales, plant tours, free samples, openhouses, "point of sale" displays, acknowledgment in government programs, agendas, brochures and calendars are other avenues for promotion. Also, gimmicks like draws for free product samples and service visits also provide you with a mailing list for future considerations. · Alliance campaigns between yourself and associated businesses (retailers, suppliers, etc.) provide you and some complementary businesses the chance to improve your market image and potential sales. Price · The prices of your products or services should reflect your overall company strategy. Pricing should be competitive as well as a reflection of the quality, costs and profit margin. · List the quality features of your product or service, as well as the associated cost component for each item or level of service. · List strategies you plan to use, such as providing a discount on some items you sell in order to increase the sales in other areas. Financial Information · Show the predicted level of sales you expect to realize with and without the strategies you have outlined in the marketing plan. Show the natural level of sales as described in your business plan, and then show the expected increase in sales as they relate to specific marketing techniques you will use. · Show the market share you will hope to attain, based on "high", "medium", and "low" estimates for the success of your marketing strategy. · Forecast the "break even point" for each of the following 5 years, in the number of sales in dollars. This will demonstrate your need to realize a certain amount of sales in order to cover your expected costs for each of the next 5 years. · Outline the areas of weakness in the financing of your business; the deficiencies that may be found in areas such as "operating capital", outstanding loans, and insufficient credit. · Provide appropriate suggestions for reducing the effect that these deficiencies will have on the successful operation of your business. Tables, Graphs, Diagrams and Pictures By presenting information in a picture format, some areas that are hard to express in words become easy to show to the reader. Here are some examples: Position Analysis · A figure that shows where your company's image lies in relation to your direct competition. Advertising Examples and Other Promotional Materials · Provide the reader with some examples of the type of artwork and advertising you hope to use to attract potential customers, and, to portray a particular image of your product/service. · Such materials can demonstrate the effectiveness of your message, successful product/service recognition and packaging design. Demographics, Consumer Statistics and Budgets · Include appropriate demographic information such as populations, age distributions, projected population growth and household sizes. · Include statistics covering family expenditures, personal income characteristics, employment figures, and spending and consumer patterns. · Provide budget sheets for advertising campaigns, sales promotions, and expenses such as uniforms, business cards, logo designs, banners, flyers, billboards, etc. · Include printing costs and expected reordering schedules. · Demographics and other statistics can be found in Statistics Canada information, available at the local library. Pricing · Relate the pricing of your products or services to your costs, profit margin, "break even point" in sales, competitor pricing schemes, consumer profiles and product/service expectations. Separate the "fixed cost" components and your "variable costs". Fixed costs are those that should remain stable over the next 5 years, while variable costs are those that adjust to external and internal pressures.
THE MARKETING PLAN IMPROVING YOUR COMPETITIVE EDGE A Marketing Plan is a written strategy for selling the products/services of a new business. It is a reflection of how serious a company is in meeting the competition head on, with strategies and plans to increase market share and attract customers. An effective Marketing Plan is backed by carefully collected market, consumer and competitor information, sometimes citing professional advice. Why Prepare a Marketing Plan? A good Marketing Plan will help you to improve your odds against more experienced competitors and newly emerging ones. The Plan enables you to recognize and take action on any trends and consumer preferences that other companies have overlooked, and to develop and expand your own select group of loyal customers now and into the future. The Plan also shows to others that you have carefully considered how to produce a product that is innovative, unique and marketable- improving your chances of stable sales and profits - reasons for investors to financially back you. CONTENTS OF A MARKETING PLAN Title Page · Include the name of the company, period of time that the contents of the marketing plan covers, and completion date. · Use a clean and professional format with examples of the company logo and product designs and packaging types. Table of Contents · List all the contents of the marketing plan in the order they appear, citing relevant page numbers. · List tables, graphs and diagrams on a separate page so that the reader can locate these presentation tools quickly. List the appendices that will be included at the end of your document. Cover Letter · This letter should form a personalized overview of the document. Highlight areas of the plan that are particularly crucial to the reader, providing an indication of how this plan will help your business attain overall success in the future. Historical Background · Give the reader an indication of where your business idea originated, citing the date you began researching into the idea, the existence of any mentors or advisors, the scope of your business (the specific of what the business "does"), and opportunities for expansion. Indicate how the future success of the business can be attributed to the strategies found in the Marketing Plan. Marketing Goals and Objectives To introduce this section, include the "mission statement" of the business; an idea of what its goals are for customers, clients, employees and the consumer, then proceed with: Sales Objectives · Compare your prospects for future sales with either past performance, or a general industry performance report. By analyzing the industry average as well as your own performance you will demonstrate to the reader that you can look "beyond your borders" to the competition to give yourself an idea of how well you are performing, or what general difficulties the whole industry may be facing. · Identify industry wide problems and create strategies to challenge them. This will also demonstrate that you have the necessary foresight to allow you to recognize problems in the future. · Set "benchmarks" for your sales objectives by using quarterly reports as a way of evaluating the success of your overall marketing approach. Indicate how much "market share" you intend to collect over the next 5 years, to show that you expect to advance your position against your competitors using your "individual" approach. Profit Objectives · Include your predictions for after tax profit for each of the next five years. Relate this profit assumption based on the contents of your operating budget's costs figures found in your Business Plan. · Indicate how you will reinvest your profit margin in specific areas of the Marketing Plans future activities, as well as countering operating and start up costs you already have. Don't neglect the future of the Marketing Plan because you have to defer the costs you already have. A sound Marketing Plan should do more than "pay for itself" and its activities. Pricing Objectives · Focus on the weaknesses of your competitors by offering better quality at a competitive price. Remember what your own attitudes are towards products you consume on a day to day basis. Remember how you react to high prices for poor or marginal quality or service. · Justifying your prices for your product or service while thinking like a customer will give you an advantage. Survey a sampling of your potential customer group and ask them directly how they feel about competitors products, services, industry prices and any areas for improvement. Product Objectives · Much like what you would be doing for your prices, focus on the wants, needs and perceptions of your consumers and the general public. Identify any problems for your industry/product. · Show how you will attract more customers while keeping the ones you have. Determine the determining factors of customer preference towards a product, like price, or social considerations such as environmental impact, product quality or convenience. · Indicate the goals you have for quality of service, level of service (speed and accuracy), customer satisfaction, and your own flexibility to support consumer demands and requests. Market Analysis · Examine whether or not your industry is growing, maturing or declining. · If it is declining, identify the problems that exist and be able to change the ones you can. Show how you can adapt to changes that you can't control. · If your industry is maturing, show how as a new company, you may be able to better adapt to external forces; better than the more mature competition. · In a newly emerging and growing market (the best scenario), differentiate yourself from new competitors. Show how you expect to become a major market share holder, using a new approach to the marketplace and utilizing the latest technology. Identify the older methods of generating your product/service being challenged by your business' approach. · Acknowledge the problems and challenges of the marketplace you are entering. Use your analysis to construct a strategy that will put you ahead of your competition. · Look to ways of prolonging the "life" of your business if you recognize that what your getting into is threatened by newly emerging technologies and business approaches. To advance your business in the new economy means finding your "niche", or, creating one of your own. · In your market analysis focus is on key areas like industry wide sales performance. Acknowledge why sales (as a whole) may be declining. Look to national and provincial averages, citing reasons for poor performance. Reasons can be both external to a particular businesses operations, or internal to the way the business operates. People called "industry analysts" have developed a way of determining the causes of business failures, focusing on the direction newly emerging business can take to realize success. Reference these professionals. · Your focus should also turn to the local scene, since local markets may or may not follow the greater industry trend for various reasons. Compare the local situation to the national and provincial averages; the trends in sales, and the estimated total market that can be reached by local companies. · Recognize the position your local competitors have taken in the local market; the clientele they serve, the product they produce, the price they expect to charge for their products and services. · Finally, relate your own businesses position to the position of others, reflecting on the maturity and experience of your business competitors. Environmental Analysis - Global Business Environment Conduct an environmental analysis to look at and comment on the world in which you will be operating. Unemployment rates for the past 2 to 5 years and the impact it has had on sales and the overall customer base is an effective way of demonstrating the effect of "external" pressures onto your business. Threats due to environmental conditions (like unemployment, layoffs, recession, high interest rates) reduce consumer activity, and should be explored in your marketing plan. Political and Legal · Identify the regulations, permits, insurance, liability, municipal zoning and taxation requirements that you must follow in order to operate your business. · The business climate of your town, village and surrounding area is an important influence on your day-to-day operations. Reflect on topics such as taxation, zoning and other factors. Demographics · Describe the population base that exists to support your product. Identify the market size for your product, and the people that make up your product/service's consumer group. Provide information about: · Where they live, What products do they buy, How much they spend on similar products each year, · Where they shop for these products, etc. Indicate whether or not your product is geared towards a specific age group, with spending patterns and consumer demands. Indicate whether this group is shrinking, expanding or yet to be tapped into. Environmental Analysis - Local Business Environment Conduct an environmental analysis that looks at and comments on your local area and your network of business contacts, competitors and customers. Suppliers · Identify your sources for direct purchasing by describing their locations, the frequency of your orders and the type and amount of supplies you will be ordering. Social/Cultural · Explain any particular client support or other specialized consumer groups that can be identified apart from the general public. Describe the spending and product requirements of these groups and the characteristics of your company that support the product and services they are demanding. Indicate whether your product is part of the day to day activities of a specific group or the general public. Identify the influence this will have on your projected sales. Identify your networking contacts in the community, and the overall atmosphere surrounding your business. Identify the influence this will have on your projected sales. Predict the receptiveness of your product concepts, and how the community perceives your business. · Describe the expected response to your advertising, and how this will boost sales. Indicate what overall market trends you will be following in order to stay current and "in touch" with the public. What special techniques will you be employing in order to match consumer demands. Competition · Identify your direct competition by naming their business, describing their facilities and operations, identifying their share of the consumer market, realizing support for their product and by reviewing the weaknesses of their approach. Consumer Analysis · Identify your target market, describing how your company will meet the needs of the consumer better than the competition does. List the expectations consumers have for your type of product. Since demands may be different, products and services will vary between competitors. Quality, price and after sales service are just some of the areas where this difference occurs. · Identify the segment of the market that will benefit from your product and area of expertise as well as your approach to selling your product or service. · Predict the sales potential that may be realized by tapping into and holding onto your target market, and attracting others through different strategies and approaches. These different approaches can be all done at the same time or be more incremental - obtaining a core audience for your product or service first, then expanding into the rest of the market. Identify the sales potential for each of these target groups. Strengths, Weaknesses, Opportunities and Threats Analysis Strengths · List the strengths of your business approach such as cost effectiveness, service quality and customer loyalty. · List other assets of your operations such as flexibility, innovativeness, response to external pressures, creativity and company stability. · Relate your experience (professionalism, duration and diversity) and the contacts you have made in all areas of your businesses operations - from suppliers to clients, government officials to business professionals. Weaknesses · Describe the areas of weakness in your company's operations, such as government policies and procedures, and management inexperience. · Capital financing, credit, loans and other financial debts should be identified, with strategies to control their effect on your business. · Recognize the limited impact of a new product on the market - its lack of recognition may be attributed to the companies inexperience in promoting. · Recognize that poor performance will mean lower than expected profits - which will result in a lot of the money going to reduce debts rather than improving business facilities, operations and expanding markets. Opportunities · Examine how proper timing, as well as other factors such as your company's innovativeness, may improve your business's chances of success. · Use tools such as customer surveys to emphasize the need for product quality and after sales service. · Relate your company's focus to a segment of the present market that is being overlooked. Threats · List the external threats to your business' success, such a existing and newly emerging competitors, performance of the overall economy, and your dependency on other businesses such as suppliers, retailers and distributors for market access and support. Marketing Focus Product or Service · Identify your product or service by what it is, who will buy it, how much they will pay for it and how much it will cost for you to produce it, why a consumer demand exists for your product, and where your product sits in comparison to similar products/services now available. · Describe the marketplace rationale for the differences between your product and a competitors. Look at quality, price, new ideas/approaches, and how your product appeals to a specific customer base - both existing customers and new customers you hope to attract to the market. · Be specific about how your product/service improves upon those already existing, your use of quality control, post purchase evaluation (and how you will obtain feedback) and the scope of service you will provide: responsibilities, liabilities and expectations. Location · Identify the location of your business, why it is located there (strategic, competitive, economic objectives), your expected methods of distribution, and timing objectives. · Different products have different shelf lives and your estimation of how long your product will remain on the shelf is an important one. Promotion · Describe the type of promotional methods you will use to spread the word about your product. Identify techniques such as word of mouth, radio and newspaper ads. · For radio, focus on a stations music format and its relationship to your products image, broadcast area, cultural focus, age focus, etc. · For newspapers and other print mediums, consider the level at which you wish to advertise (local, regional, provincial, federal, cross-national, etc.), in what mediums (trade magazines, professional, recreational, cultural, hobby, special interest, etc.), how often, and the timing of such advertisements (seasonal, special issues, etc.). · List accessible tradeshows that offer your business and opportunity to display banners and promotional literature. · Explain your use of expensive mediums such as television and billboards. Both are highly expensive, while computer based "bulletin boards" and the Internet can provide a global audience. · Promotion through associations and government support programs offer an opportunity for success stories to advertise. · In store promotions, sidewalk sales, plant tours, free samples, openhouses, "point of sale" displays, acknowledgment in government programs, agendas, brochures and calendars are other avenues for promotion. Also, gimmicks like draws for free product samples and service visits also provide you with a mailing list for future considerations. · Alliance campaigns between yourself and associated businesses (retailers, suppliers, etc.) provide you and some complementary businesses the chance to improve your market image and potential sales. Price · The prices of your products or services should reflect your overall company strategy. Pricing should be competitive as well as a reflection of the quality, costs and profit margin. · List the quality features of your product or service, as well as the associated cost component for each item or level of service. · List strategies you plan to use, such as providing a discount on some items you sell in order to increase the sales in other areas. Financial Information · Show the predicted level of sales you expect to realize with and without the strategies you have outlined in the marketing plan. Show the natural level of sales as described in your business plan, and then show the expected increase in sales as they relate to specific marketing techniques you will use. · Show the market share you will hope to attain, based on "high", "medium", and "low" estimates for the success of your marketing strategy. · Forecast the "break even point" for each of the following 5 years, in the number of sales in dollars. This will demonstrate your need to realize a certain amount of sales in order to cover your expected costs for each of the next 5 years. · Outline the areas of weakness in the financing of your business; the deficiencies that may be found in areas such as "operating capital", outstanding loans, and insufficient credit. · Provide appropriate suggestions for reducing the effect that these deficiencies will have on the successful operation of your business. Tables, Graphs, Diagrams and Pictures By presenting information in a picture format, some areas that are hard to express in words become easy to show to the reader. Here are some examples: Position Analysis · A figure that shows where your company's image lies in relation to your direct competition. Advertising Examples and Other Promotional Materials · Provide the reader with some examples of the type of artwork and advertising you hope to use to attract potential customers, and, to portray a particular image of your product/service. · Such materials can demonstrate the effectiveness of your message, successful product/service recognition and packaging design. Demographics, Consumer Statistics and Budgets · Include appropriate demographic information such as populations, age distributions, projected population growth and household sizes. · Include statistics covering family expenditures, personal income characteristics, employment figures, and spending and consumer patterns. · Provide budget sheets for advertising campaigns, sales promotions, and expenses such as uniforms, business cards, logo designs, banners, flyers, billboards, etc. · Include printing costs and expected reordering schedules. · Demographics and other statistics can be found in Statistics Canada information, available at the local library. Pricing · Relate the pricing of your products or services to your costs, profit margin, "break even point" in sales, competitor pricing schemes, consumer profiles and product/service expectations. Separate the "fixed cost" components and your "variable costs". Fixed costs are those that should remain stable over the next 5 years, while variable costs are those that adjust to external and internal pressures.
The Business s Victoria Marketing Plan Template About the template One of the most important, yet often overlooked areas for the small business owner is the development of a marketing plan. An effective marketing plan will act as a reference document to help you to execute your marketing strategy. It will also help you to develop a methodical approach to creating services and products that satisfy your customers’ needs. When writing a marketing plan you need to be clear about your marketing objectives and how you’re going to achieve them. A good marketing plan sets realistic and measurable objectives; includes budgets and action plans, and allocates responsibilities. Your marketing plan will include the following elements: · A summary of your marketing plan · Background analysis of your business and market · Marketing objectives and strategy of your business · Your marketing mix · Action plans and budgets · Organisational implications and contingencies · Evaluation and monitoring strategies · Supporting documentation Keep it up to date Planning your marketing should be an ongoing business activity. As the market conditions and your business change, you will need to revisit many of the ideas and strategies outlined in your marketing plan. By referring to your plan regularly, you will ensure that your business keeps heading in the right direction. How to use this template Prior to completing this marketing plan template, consider the following: 1. Gather together your key business documents. This includes business plans, budgets, resumes, forecasts and registration documents. Having the right information on hand will mean you can be more accurate in your forecasts and analysis as you move through the marketing plan template. 2. Take your time and consider your specific needs. Work through the template at your own pace. Start by deciding which sections are relevant for your business and set aside the sections that don’t apply. You can always go back to the other sections at a later date. 3. Decide on your audience. It’s also important to consider your audience when writing your marketing plan. Will the plan be used internally? Or will you be sharing it with others? Deciding on the purpose of the plan can help you target your answers appropriately. 4. Ask for some assistance. If you aren’t confident in completing the marketing plan template yourself, you can enlist the help of a professional (i.e. business adviser or accountant) to look through your plan and provide you with advice. To complete the template: 1. Guidance text appears throughout the document, marked by the word Guidance. Where you see a guidance note, read and then delete it. Guidance has been added to help you complete the template and should not appear in your final version. 2. Using Word's Replace function, search for {Business Name} and replace with your company name. a. In Word's Home ribbon, open the Find and Replace tool, choose Replace to open the Find and Replace tool. The Find and Replace dialog opens with the Replace tab selected. b. Enter {Business Name} in the Find what field. c. Enter your company name in the Replace with field. d. Click Replace All 3. Replace {items in curly brackets} with your own wording. 4. Once you have finished work on the template, delete this and the following page. 5. Lastly refresh the page numbers in the table of contents. a) Right mouse click on the table of contents b) In the small menu that appears, choose ‘Update Field’ then ‘Update page numbers only’. Marketing Plan This template was downloaded from HYPERLINK "http://www.business.vic.gov.au" business.vic.gov.au Page PAGE i You may like to check there for an updated version. {Insert Company Logo Here} Marketing Plan Contents Marketing Plan 4 Marketing Plan Summary 7 Your Business 8 Business name: 8 Business structure: 8 HYPERLINK \l "_Toc406652777" ABN: PAGEREF _Toc406652777 \h 8 HYPERLINK \l "_Toc406652778" ACN: PAGEREF _Toc406652778 \h 8 Business location: 8 Date established: 8 Business owner(s): 8 Owner/s experience: 9 Products or Services: 9 Market Overview 10 Target market: 10 Customer profile: 10 Competitor profile: 10 Marketing Objectives 11 Goals/objectives: 11 Marketing Strategy 12 Your strategy and marketing mix: 12 Action Steps 13 Top 10 Action Steps: 13 Background Analysis 14 Business overview 15 Business name: 15 Business structure: 15 HYPERLINK \l "_Toc406652798" ABN: PAGEREF _Toc406652798 \h 15 HYPERLINK \l "_Toc406652799" ACN: PAGEREF _Toc406652799 \h 15 Business location: 15 Date established: 16 Business owner(s): 16 Owner/s experience: 16 Vision statement: 16 Mission statement: 16 Business objectives: 16 Short Term goals: 16 Long Term goals: 17 Products: 17 Financial Analysis: 17 SWOT analysis 19 SWOT activity sheet 20 The Market Overview 21 Your Market 22 Market research and environmental/industry analysis: 22 Your Customers 23 Target customers: 23 Customer profile: 24 Your Competitors 25 Competitor analysis: 25 Competitor profile: 26 Your Marketing 27 Marketing Strategy: 29 Your PRODUCT or service 30 The PRICING of your product or service 32 Your POSITION (Place) in the marketplace 34 Sales and distribution channels 34 The PROMOTION of your product or service 36 The PEOPLE in your business (salespeople, staff etc.) 38 The PROCESS represents the buying experience 40 The PHYSICAL ENVIRONMENT where the good/services are presented 41 PRODUCTIVITY is an essential part of meeting a customer’s needs 42 Marketing Activity 43 Your Finances 45 Marketing Budget {YEAR} 45 Organisational Implications 47 Contingencies 47 Monitoring/measurement activities 48 Supporting documentation 49 Glossary 50 Marketing Plan Summary Guidance: Complete this page last. The marketing plan summary is a snapshot of your more detailed answers from your marketing plan. It should be easy to read and simple to follow. Start writing here Your Business Business name: Guidance: What’s your business registered business name? If you haven’t registered a business name, add your proposed business name here. Start writing here Business structure: Guidance: What’s the formal structure of your business? Are you a sole trader, in a partnership, a trust or company? Start writing here ABN: Guidance: What’s your registered Australian Business Number? Start writing here ACN: Guidance: What’s your registered Australian Company Number, if applicable? Start writing here Business location: Guidance: Where does your business operate from? Start writing here Date established: Guidance: When did you begin trading? Start writing here Business owner(s): Guidance: Who are the owners of the business? Start writing here Owner/s experience: Guidance: Create a brief summary of your (and other owner’s) experience in the industry and any major achievements/awards. Start writing here Products or Services: Guidance: What products and/or services do you sell? Start writing here Market Overview Target market: Guidance: In one or two sentences, summarise the key statistics for your target market. This may include the size and growth potential of your market, as well as key demographics such as age, gender, income level etc. Start writing here Customer profile: Guidance: What’s the profile of an ideal customer for your business? In one or two sentences, clearly define your ideal customer - their needs, buying patterns and motivations for buying. Start writing here Competitor profile: Guidance: What’s the profile of a typical competitor for your business? What marketing mix do they use? Have you identified any gaps in their marketing strategy?} Start writing here Marketing Objectives Goals/objectives: Guidance: In one or two sentences, summarise the key marketing objectives for your business. Your objectives may be financial, with a goal to increase sales, marketing focused to build awareness of your product or service, or online to build engagement with online customers and business networks. Start writing here Marketing Strategy Your strategy and marketing mix: Guidance: Use this section to summarise the overall strategy and marketing mix (The 7 P’s) you will use to position yourself within the market to meet your customers’ needs. Your strategy and marketing mix should take into account the activities that are relevant for your business. Remember to consider your digital strategy, which focuses on achieving your online objectives. Whatever your strategy, aim to differentiate yourself from your competitors to encourage customers to choose your business first. Start writing here Action Steps Top 10 Action Steps: Guidance: Create a list of the Top 10 action steps that will bring your theoretical objectives (your marketing strategy and objectives) to life. E.g. Finish SWOT Activity Sheet, complete marketing budget} Start writing here Background Analysis The background analysis should give a snapshot of where you are right now, where you have been and where you want to go. Undertaking this process will help you to define your business's capabilities and find opportunities within your particular market. Finally, defining your core business elements will ensure that your marketing plan and overall business strategy work together seamlessly. Start writing here Business overview Guideline (remove when done): The overview should cover the nuts and bolts of your business including: The name, structure and date of establishment Details about the owners (their names, roles and levels of experience etc.) What your business is about (your business mission, vision and values) The key business objectives you would like to achieve An outline of the main products and services sold A financial analysis of your business including sales and profitability A SWOT analysis of your business to set a line in the sand Business name: Guidance: What’s your business registered business name? If you haven’t registered a business name, add your proposed business name here. Start writing here Business structure: Guidance: What’s the formal structure of your business? Are you a sole trader, in a partnership, a trust or company? ABN: Guidance: What’s your registered Australian Business Number? ACN: Guidance: What’s your registered Australian Company Number, if applicable? Business location: Guidance: Where does your business operate from? Date established: Guidance: When did you begin trading? Business owner(s): Guidance: Who are the owners of the business? Owner/s experience: Guidance: Create a brief summary of your (and other owner’s) experience in the industry and any major achievements/awards. Vision statement: Guidance: A Vision statement should describe WHERE you want your business to be in the future. It should communicate both the PURPOSE and VALUES of your business and answer the question, 'Why are we here?' Mission statement: Guidance: A Mission statement should outline HOW you will get to where you want your business to be in the future (Your Vision). It should define the PURPOSE and PRIMARY OBJECTIVES of your business and answer the question, 'What do we do?' Business objectives: Guidance: What are your short and long term goals for your business? Short Term goals: Guidance: What are three primary short-term goals for your business (6 Months)? Goal/Objective Description By when {insert Goal/Objective name} {insert Brief goal/objective description} {insert Date of completion} Long Term goals: Guidance: What are three primary long-term goals for your business (1-3 Years)? Goal/Objective Description By when {insert Goal/Objective name} {insert Brief goal/objective description} {insert insert Date of completion} Products: Guidance: What products and/or services do you sell? Product/Service Description Price {insert Product/service name} {insert Brief product/service description} {insert Unit price including GST} Financial Analysis: Guidance: In this section provide a high level analysis of your current financial situation, specifically addressing sales and profitability. Part 1 – Sales Analysis Guidance: Use this section to summarise the current sales data for your industry (if available) and your business. The areas that you can analyse include: Sales for your overall market Sales for your business Sales for your competitors If you wish to dig deeper, you can expand the analysis to Sales by Product Categories, Sales by Distribution Channels and Sales by Geography. Start writing here Part 2 – Profitability Analysis Guidance: Use the sales numbers above to identify realised revenues rather than just projections and then breakdown marketing expenses in terms of direct (expenses directly tied to products) and indirect or proportional (general administrative or broad marketing expenses). Start writing here [Business Name] Marketing Plan [YEAR] Page 10 SWOT analysis Guidance: Use the table below to list each of your businesses Strengths, Weaknesses, Opportunities or Threats (S.W.O.T.). Strengths Weaknesses Start writing here Start writing here Opportunities Threats Start writing here Start writing here SWOT activity sheet Guidance: Outline how and when you plan to address each of the weaknesses/threats from your SWOT analysis above. SWOT weakness/ threat Activity to address weakness/threat Completion date The Market Overview Guidance: Gathering information and identifying the key characteristics of your target market will help you to find the most effective way to reach your target customers. The Market Overview should provide an analysis of the market in which your business operates, including your customers, competitors and the market as a whole. Revisit this process regularly to ensure that your strategy remains relevant and targeted. Start writing here Your Market Target market: Guidance: Summarise the key statistics for your target market. This may include the size and growth potential of your market, as well as key demographics such as age, gender, income level etc. Start writing here Market research and environmental/industry analysis: Guidance: What research have you completed to help analyse your market? Did you utilise a survey/questionnaire? If so, you may like to attach a copy of your survey/questionnaire and findings to the back of this plan. In this section, detail the results of the market research you have performed. Consider questions such as: Is the area experiencing population growth or decline? Does the region where you operate have a stable economy? Are there any seasonal variations that might affect sales? What is the size of the market? What recent trends have emerged in the market? Is there potential for growth in the market? How will you be able to capitalise on any opportunities? How will your entrance affect the market/customers? What external factors will affect your customers? HYPERLINK "http://www.business.vic.gov.au/marketing-sales-and-online/increasing-sales-through-marketing/doing-market-research" More information on DIY Market Research Start writing here [Business Name] Marketing Plan [YEAR] Page 10 Page 21 Your Customers Target customers: Guidance: Who are your target customers and how do they behave? Include specific demographics such as age, social status, education and gender. What are your customers’ lifestyles, activities, values, needs, interests or opinions? Where are they located? Please adjust the column headings as required. Customer Age Gender Ethnicity Education Location Lifestyle Values Interests {insert Target customer – choose a name} {insert Customer’s Age} {insert Customer’s Gender} {insert Customer’s ethnic background} {insert Customer’s education level} {insert Customer’s location} {insert Customer’s lifestyle} {insert Customer’s values} {insert Customer’s interests} Customer profile: Guidance: What’s the profile of an ideal customer for your business? In a paragraph or two, clearly define your ideal customer - their needs, buying patterns and motivations for buying. This process will help you to develop a mental image of your ideal customer (often referred to as a customer avatar). Your Competitors Competitor analysis: Guidance: Use the table below to analyse at least 5 competitors.} Competitor Established date Size Market share (%) Value offered to customers Strengths Weaknesses {insert Competitor’s name} {insert When was their business established?} {insert Number of staff and/or turnover} {insert Estimated percentage of market share} {insert Unique value to customers, e.g. quality, price or customer service?} {insert What are your competitor's main strengths?} {insert What are your competitor's main weaknesses?} Competitor profile: Guidance: What’s the profile of a typical competitor for your business? In a paragraph or two, clearly define a typical competitor - their size, market share, unique value proposition, strengths and weaknesses. This process will help you to develop a mental image of your typical competitor. Start writing here Your Marketing Marketing Objectives: Guidance: Summarise the key marketing objectives for your business. Your objectives may be financial, with a goal to increase sales, or marketing focused, to build awareness of your product or service. An effective (and accountable) way to define your marketing objectives is to follow the ‘SMART’ acronym (Specific, Measurable, Achievable, Realistic and Timely)[footnoteRef:1]. [1: Doran, G. T. (1981). There's a S.M.A.R.T. way to write management's goals and objectives. Management Review, Volume 70, Issue 11(AMA FORUM), pp. 35-36.] Examples of SMART marketing objectives To achieve a 20% return on capital employed by April 2014 (Profitability Objective) To gain 15% of the market for sports socks by November 2018 (Market Share Objective) To make X brand of juice the preferred brand of 21-29 year old females in Australia by August 2019 (Branding Objective) Detail your SMART marketing objectives in the table below: Objective Specific Measurable Achievable Realistic Timely {insert Your specific marketing objective} { Is your objective specific?} { Can your objective be measured?} { Is your objective achievable?} { Is your objective realistic?} { Have you set a specific date for your objective to be achieved?} Marketing Strategy: Guidance: Use this section to detail the overall strategy you will use to position yourself within the market to meet your customers’ needs. Whatever your strategy, you goal should be to differentiate yourself from your competitors to encourage customers to choose your business first. The specific elements that make up your marketing strategy are typically referred to as the marketing mix. Each element can be varied to broaden the appeal of products and services, and will therefore have a direct impact on sales. The 8 P's of marketing Your PRODUCT (or SERVICE) The PRICING of your product or service Your POSITION (place) in the marketplace The PROMOTION of your product of service The PEOPLE in your business (salespeople, staff etc.) The PROCESS represents the buying experience The PHYSICAL environment where the good/services are presented PRODUCTIVITY and Quality is an essential part of meeting customer needs Click any of the links above to find out more about a specific element and how it can be applied. Start writing here Your PRODUCT or service Guidance: Here you should describe your long-term product strategy in detail. If you are providing a service then you should consider your service(s) as your product(s). You will need to consider: What features and benefits do you offer? The unique selling position - what makes your product/service different from your competitors’? Potential spin-off products or services? Product or Service Features Benefits Unique Selling Position Support Spin Offs {What is your product or service?} {What are the features of your product or service? {What are the customer benefits of your product or service?} {What makes your product or service unique?} {What additional support do you offer? E.g. warranty, money back etc.} {Are there any potential spin-off products or services you can offer?} The PRICING of your product or service Guidance: Price is a critical component of your marketing mix. Why? Because choosing the right price for your products or services will help you to maximise profits and also build strong relationships with your customers. By pricing effectively you will also avoid the serious financial consequences that can occur if you price too low (not enough profit) or too high (not enough sales). Setting prices for your products and services might seem like a daunting task, however, it doesn’t need to be … just remember: you are in business to make a profit (and that’s ok!) most business owners underprice the value that they deliver your sales and marketing strategy should defend your prices Your overall pricing strategy will depend on your marketing, business and lifestyle objectives. So, before you start the research process spend some time defining your income (and net profit) aspirations. Also take a look at the small business expected income benchmarks on the ATO website. Product or Service Price Costs Net Profit Comp. Price Value {What is your product or service?} {What is the price of your product or service?} {What is the total cost of selling your product or service?} {What Net Profit is made from selling your product or service?} {What is your competitor’s pricing for this product or service? {What unique value does your product or service offer/deliver?} Your POSITION (Place) in the marketplace Guidance: Place refers to the channels and locations for distributing your product, related information, and support services. This is how you will position your product or service in the marketplace. This includes: the place where the product/service can be bought the distribution channel Place represents the location where a product can be purchased. It is often referred to as the distribution channel. This may include any physical store (supermarket, departmental stores) as well as virtual stores (e-markets and e-malls) on the Internet. This is crucial as this provides the place utility to the consumer, which often becomes a deciding factor for the purchase of many products across multiple product categories. Sales and distribution channels Channel type Products/services Percentage of sales (%) Channel strategy {e.g. Shopfront, internet, direct mail, export or wholesale.} {List all the products/services sold via this channel} {What percentage of overall sales do you expect to sell via this channel?} {Why have you decided to use this channel type? How and when will you use it? What is the strategy behind using this channel type for this particular product/service?} The PROMOTION of your product or service Guidance: State how you currently promote and market your business now (or intend to). Compare (where applicable) what your competitors do for promotion, noting what does and doesn’t work for them as well as yourself. Regardless of how good your business is, if you don’t promote it and tell people you exist, it’s unlikely you will make many sales. Promotion is more than selling and advertising your business. It’s about attracting the right people to use and reuse your business. There are a number of techniques to use and they can be combined in various ways to create the most cost effective strategy for your needs. Detail your promotion techniques into six categories: · online · public relations · advertising · promotion · packaging or personal selling · branding Direct marketing is often added to the marketing mix despite being part of advertising rather than marketing. Product or Service Online Public Relations Advertising Promotion Packaging Branding {What is your product or service?} {What online strategies are you using?} {What PR strategies are you using? {What advertising strategies are you using?} {What promotion strategies are you using?} {What packaging strategies are you using?} {What branding strategies are you using?} The PEOPLE in your business (salespeople, staff etc.) Guidance: Every employee in your business (if you have them) can influence the marketing of your products and services. Knowledgeable and friendly staff can contribute to creating satisfied customers, and can provide the unique selling experience that an organisation is often seeking. If an outstanding team provides a competitive advantage, then the quality of recruitment and training becomes essential to achieving your marketing objectives. Some questions to consider when assessing your team members: Are they prepared to talk with clients in detail about your products and services? Do you have training in place to drive constant improvement? Do your team understand the process for handling client interactions? Are staff members empowered to make decisions (and act) on the business’s behalf? Do they have the communication skills to be effective? Do staff members ‘live’ your brand when they are at work? Name Job Title Department Responsibilities { e.g.Mr Chris Brantley} {e.g. Marketing/ Sales Manager} {e.g. Sales} {insert the main responsibilities of this position} The PROCESS represents the buying experience Guidance: Process represents the buying experience that the customer experiences when they buy your product or service. For example, the way that a fine bottle of wine is presented and served in a restaurant, the reaction of a business to a complaint or the speed of delivery in a fast food outlet. A poor process, on the other hand, can undermine the other elements of the marketing mix. Budget airlines, for example, may offer very competitive headline prices, but if the final price is inflated by additional charges such as baggage charges and administrative fees, customers may begin to feel that they have been taken advantage of even if the final price is lower than other carriers. Product or Service The Process Key Benefits Improvements {What is your product or service?} {Outline the Process in point form} {What are the key benefits for the customer?} {What changes can you make to improve the process?} The PHYSICAL ENVIRONMENT where the good/services are presented Guidance: The physical environment where your products or services are sold and delivered can have a significant impact upon how your customers experience your business. The physical environment represents the tangible aspects of selling your products and services, such as the quality of the furnishings in your consulting rooms or the design of your reception area. Creating a positive physical environment doesn’t have to be costly – a vase full of fresh flowers can make a big difference. Use the table below to outline the physical environments that your customers experience when they buy your products or services and any improvements you might be able to make. Name Selling Environment Delivery Environment Improvements {What is your product or service?} {Where is the product or service sold?} {Where is the product or service delivered?} {What changes can you make to improve the Physical Environment?} PRODUCTIVITY is an essential part of meeting a customer’s needs Guidance: Improving productivity is an important factor in cost management; however, it also plays a key role in satisfying customer’ needs. The more effective and efficient your marketing efforts are the more satisfied customers your business will create at a lower cost. Here are some examples of strategies that could improve your marketing productivity: Improved Marketing Accounting – take time to understand where resources are being spent, customer value being created and where money is being made or lost. Marketing Alliances – share resources, ideas and opportunities with other organisations that service the same customers. Encourage Customer Involvement – increase customer satisfaction and lower costs by adding customers to the value chain e.g. ask them to write guest posts for your blog. Name Job Title Department Responsibilities { e.g.Mr Chris Brantley} {e.g. Marketing/ Sales Manager} {e.g. Sales} {What are the main responsibilities of this position?} Marketing Activity Guidance: Once you have defined your marketing mix, the next step is to detail the specific activities that you will undertake to achieve your marketing objectives. As you create these activities, keep referring back to your marketing mix – it will help you to assess which activities are worth the time and effort to implement. What steps or activities will you undertake to achieve your marketing objectives? Marketing activity/milestone Person responsible Date of expected completion Cost ($) Success indicator {Print advertising, online advertising, mail-out, giveaway, media release, event, website, blog/social media, public relations, branding and artwork, or publications and catalogues.} {Who is responsible for completing this task?} {When do you expect to complete the marketing activity?} {Estimated cost of activity.} {What indicator/ measurement result will need to be met before this activity is considered a success?} Your Finances Marketing Budget {YEAR} Guidance: To complete this marketing budget, you should rely heavily on your financial statements and projections. Double-click the table below to enter your details or attach your own budget at the back of this marketing plan. Organisational Implications Guidance: Organisational implications are often overlooked when business owners tackle a marketing plan. For example, if your goal is to increase your customer base by 15% and therefore your staff by 10% - will you be able to house them in your current offices? Could you outsource some tasks? It’s important to consider and document these decisions in your plan. Use the space below to outline any organisational implications, which you feel may affect the implementation of your marketing plan. Start writing here Contingencies Guidance: All plans in business should remain flexible (and adjustable) as you are often working with assumptions. The more planning you do, the better you will become at predicting. However, as you are learning the needs of your market - it is fair to say that some of your assumptions are going to fall short of expectation. Use the space below to outline any contingencies (alternative options) which may assist if things don’t go as planned. Start writing here Page 10 Page 47 Monitoring/measurement activities Guidance: Reviewing the impact of your marketing should be a periodic activity. List the details of each review in the table below. Marketing activity Date of review Monitoring methods Review outcomes {Print advertising, online advertising, mail-outs, giveaways, media releases, events, website, blog/social media, public relations, branding and artwork, or publications and catalogues.} {e.g. Month/Year} {What tools did you use to measure/monitor the impact of your marketing activities?} {e.g. What were the results for the promotional period? What were your sales/profit figures? How many new/repeat customers did you receive? How many customers visited your website? Etc.} Supporting documentation Guidance: Attach any supporting documentation in relation to this marketing plan. List all of your attachments here. These may include resumes, customer survey/questionnaire and/or financial documents. Start writing here Glossary Term Definition Australian Business Number (ABN) a unique identifying number used when dealing with other businesses and the Australian Tax Office. Australian Company Number (ACN) the number allocated by the Australian Securities and Investments Commission (ASIC) when you register a company under the Corporations Law. Blog a shortened word for Weblog (see Weblog). Channel a way of delivering something to its destination, whether it is a message to be communicated or a physical product to be delivered. Contract a legally enforceable agreement made between two or more parties. A contract may be a verbal contract or a written contract (or may be partly verbal and partly written). Demographics the characteristics of a population or segment of the population, commonly examined demographics include age, gender, ethnicity, knowledge of languages, employment status, mobility and geographic location. Domain name an identification string (name) that identifies an organisation's address on the internet, either a website address or an email address. Domain names are formed by the rules and procedures of the Domain Name System (DNS). Read more information about Domain Name System on Wikipedia Blog (also known as a weblog) an individual's or organisation's online website displaying a reverse-chronological list of entries (known as posts). Posts typically include thoughts, observations, promotions, links, images or videos. A Weblog is publically available and allows readers to comment on posts. Goods and Services Tax (GST) a broad-based tax of 10 per cent on the sale of most goods and services in Australia. High-end usually refers to expensive or high quality products/services. Market position refers to the position an organisation, product or service has in the market, usually in relation to its competition. Milestone a goal or objective with a target date. Mission statement a statement (usually internally facing) which outlines how a business (organisation) intends to achieve its Vision. It should define the PURPOSE and PRIMARY OBJECTIVES of the business and answer the question, 'What do we do?' Social media a group of technology including Blogs, online networks (e.g. Twitter, Facebook, Myspace, LinkedIn) and online collaboration tools often used to expand your network/market reach or collaborate on a large scale. Unique selling position a characteristic of a business or a product/service that sets it apart from the competition. Vision statement a statement (usually public facing) which outlines where a business (organisation) wants to be in the future. It should communicate both the PURPOSE and VALUES of the business and answer the question, 'Why are we here?' ItemJanFebMarAprMayJunJulAugSepOctNovDec Marketing/promotion Marketing agency Radio advertising Television advertising Print advertising Online advertising Social media Web search optimisation Mailouts Giveaways Events Branding & artwork Merchandising Publications Catalogues More… Marketing/ promotion total$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00 Other Research Travel Postage Administration Incidentals More… Other total$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00 Total$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00 Sheet1 Item Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Marketing/promotion Marketing agency Radio advertising Television advertising Print advertising Online advertising Social media Web search optimisation Mailouts Giveaways Events Branding & artwork Merchandising Publications Catalogues More… Marketing/ promotion total $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Other Research Travel Postage Administration Incidentals More… Other total $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Total $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

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