THE MARKETING PLAN SMALL BUSINESS DEVELOPMENT AND ENTREPRENEURSHIP
TEAM MEMBERS:1. Syed Abdul Basit Shah (13PWMEC-3541)2. Basit Nazir (13PWMEC-3540)3. Kashif Riaz (13PWMEC-3538)4. Hamood Ur Rahman (13PWMEC-3539)5. Umar Ayub Afridi (13PWMEC-3563)
Contents:
1.Overview of all plans2.What is Market?3.What is Marketing plan?4.Why do we need marketing plan?5.Research and Analysis6.Outline of Marketing Plan7.What is “Marketing mix”?8.Practical Application or Idea of Marketing
Plan
1) BUSINESS PLAN2) FINANCIAL PLAN3) PRODUCTION PLAN4) ORGANIZATIONAL PLAN5) OPERATIONAL PLAN
Over View of Other plans
Primary concern is WISH , Satisfaction and need of customer
Quality , Quantity , Price and Time are secondary
What is Market?
Background
Example
What is Marketing Plan?
What is its importance?
Less profit
Risk of failure
Achieving the target
Need of Marketing Plan
Marketing Analysis
Ups and downs of the product. Achieved by SWOT analysis. For a product place industry person Identifying the internal and external factors that are favorable
and unfavorable to achieve that objective.
SWOT Analysis
SWOT Analysis
Competitor Analysis
Marketing research for the new venture
It involves gathering of data in order to determine Who will buy the product or services? What is the size of potential market? What price should be charged? What is the most appropriate channel? What is the most effective promotion strategy to
inform and reach potential customers?
Steps in Marketing Research
1. Defining the purpose or objectivesAsk People about your product
QualityPriceAdvertisement
Steps in marketing research (Continued)
2. Gathering data from secondary sources:
Old informationInternet NewspaperTrade magazines etc.
Steps in marketing research (Continued)
3. Gathering data from primary sources:
New informationObservationNetworking InterviewingExperimentations
Steps in marketing research (Continued)
4. Analyzing and interpreting the Results
Analyzing the situation
Background Considering strength and weakness Available opportunities and expected threats Competitor analysis
Marketing objectives and goals
Promotion of product Defining time interval Determining rate of success
Marketing Strategy
Launching of product Determining the influencing factors External factors Internal factors
External Factors
Culture Economy Technology Demand
Internal Factors
Financial Management Suppliers
Flexibility
Room for remodeling i.e change in some factors according to the situation
Achieving Goals
Growth and development of business
Analyzing the situation
Marketing objectives and goals
FlexibilityMarketing Strategy
Achieving Goals
Marketing Strategy and Action Programs
Marketing Strategy and Action decisions respond to the following question:
How do we get there?
The question can be best answered by marketing mix. Marketing Mix: It is combination of;1. Product or service2. Price 3. Distribution 4. and Promotion
Product or Service
Indicates a description of the product or service to be marketed in the venture
Product or service definition should be considered more than the physical characteristics
It involves packaging, price, warranty, image, service, delivery time, new features, style and even the website that will be seen by most customers.
Pricing
Prior to setting the price, following three important elements should be considered:
1. Costs (Cost of material used, labor salary and overhead)
2. Margins or Markups3. Competition: Update the product and install new
features or reduce the price little bit from the competitor's price.
Distribution
Distribution provides utility to the consumer i.e. it makes a product convenient to purchase when it is needed.
Products to be distributed in outlets that have a quality image. Channel distribution strategy considerations are summarized in
table given on next slide.
Degree Of Directness
• Market Conditions --- Concerned whether end users are concentrated (direct) or dispersed (indirect) in market.
• Product Attributes --- Concerned with whether product is large (direct) or small (indirect), bulky (direct), perishable (direct), hazardous (direct), expensive (direct)
• Cost Benefits --- Considers the cost benefits in selection of channel members; many benefits (indirect), minimal or no benefits (direct)
• Venture Attributes --- Considers financial strength, size, channel experience and marketing strategy of venture.
Promotion It is necessary to inform potential consumers about the
product’s availability or to educate the consumer using advertising media.
It is achieved through the following methods: 1. Advertisement in Newspapers and Magazines 2. Radio3. Television 4. Advertisement Boards5. Through Social Media
Innovative idea
Stallions Den
Executive Summary
Getting Horses Reproduction__ Breeding Training
Target Customers
Spectators of four cattle shows in Pakistan; DI Khan, Lahore Fort, Sindh and Baluchistan.
Armored Core Division(Cavalary) of Pakistan Army Derby (Horse Racing) Polo festival in Shandoor
Selling Proposition
Reasonable Price Free Delivery with in Pakistan Well Trained
Pricing
Investment + Costs on Transporting + Overhead + Profit
Distribution
Once the deal is done, the package will be delivered to the destination customer wish for.
Promotion
Visiting cattle shows Through Pamphlets Arranging my own show Short Paid Documentary Televised Sometimes free control riding for untrained people to
motivate them. Visiting the foreign countries
Questions?
Thanks for Listening!
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