Transcript business plans - GoZips.uakron.edu

BUSINESS PLANS
MARKETING YOURSELF
MARKETING
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Defines your product
Defines groups most likely to
use product
Educates groups on product’s
features and benefits
BUSINESS PLANNING
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Business idea statement
Determine target market
Marketing mix
Statements of action and
achievement
Key operating indicators
Customer service
Financial information
Budgets
IDEA STATEMENT
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What business do you want to
be in
What needs to you wish to serve
What clients do you wish to
serve
How will you offer services or
product
TARGET MARKET
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Through market research
Done to determine feasibility of
business idea
MARKET RESEARCH
INVESTIGATION
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Define objectives
Conduct situational analysis
Conduct informal investigation
Determine if further investigation
is needed
Formal investigation
Analyze and interpret data
Prepare written report
MARKETING MIX
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Product
Place
Price
Promotion
PRICE
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Competitive pricing
Cost of operation
Pricing strategy
Premium pricing
Market pricing
Introductory pricing
COMPETITIVE PRICING
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Know what the competitors are
charging
Packaging components such as
nutrition consult and exercise
session
COSTS OF OPERATION
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Personnel
Operations
Marketing
PRICING STRATEGY
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Discuss with administration
Define if your own business
3 strategies – premium, market,
bargain (not the same as
introductory pricing)
PROMOTION
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Paid advertising
Public relations
What are target market
Who are your customers
Where do they seek information
Mix and level changes during
product life cycle
MARKETING PLANNER
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Plan time and resources on
calendar
Promotions on calendar
particularly if they have a
seasonal cycle
STATEMENT OF ACTION
AND ACHIEVEMENT
DEFINITIONS –HEALTH
CARE WORLD
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Goal: a sweeping, open-ended
statement of what you want your
business to achieve
Objectives: specific, measurable
activities, name resources, time
frames, and projected results
Mission statement: what business
you are in, whom you will serve, how
you will fulfill clients’ needs
KEY OPERATING
INDICATORS
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Ongoing evaluation strategies
monitored at regular intervals
Identify and correct problem
areas
Establish key operating
indicators in marketing, product
quality, operations, finance
Often expressed as ratios
Documentation
CUSTOMER SERVICE
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Service received will determine
if customers return
FINANCIAL INFORMATION
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Break-even point
Income statement – revenue,
expenses, and income for
several scenarios
Budget plan – target revenue
and costs in a monthly and
whole-year format
BUDGETS
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Revenue budget
Personnel budget
Marketing budget