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SESSION 4: MARKETING TOPICS COVERED Participants will produce a formal business plan that will include a component of each of the following: Week 1:

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Presentation on theme: "SESSION 4: MARKETING TOPICS COVERED Participants will produce a formal business plan that will include a component of each of the following: Week 1:"— Presentation transcript:

1

2 SESSION 4: MARKETING

3 TOPICS COVERED Participants will produce a formal business plan that will include a component of each of the following: Week 1: Introduction Week 2: Entrepreneurship Week 3: Idea development Week 4: Marketing Week 5: Competitors and Organisational and legal structure Week 6: Technical developments and Risk assessment Week 7: Finance Week 8: Integrating and control Week 9: Guest speakers Week 10: Summary

4 CONTACT DETAILS SURGERY HOURS On Request

5 Mind stretcher What are the best and worst marketing campaign you have seen and why?

6 Important general questions Will the window of opportunity be open long enough to exploit the idea? Can this business idea grow over time to a big business? How big do you want this business to be?

7 Important specific questions Who will buy your product/service? What are the specific needs of these customers? What are the specific characteristics of the products/services that you will be selling to satisfy the above needs?

8 Marketing of products and services Product – what will you offer Price – what will you charge for the product/service Promotion – how to keep customers informed Place – where en how will they get hold of product

9 Exercise Select the best idea that you can implement. Define the – Specific characteristics of the product/service – The potential price of it – How you are going to communicate to your customers – Where you will sell your product/service

10 ANY QUESTIONS?

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