Section 35.2 The Marketing Plan Marketing Essentials n Chapter 35 Developing a Business Plan Section 35.2 The Marketing Plan

The Marketing Plan SECTION 35.2 What You'll Learn How to develop a business's organization plan How to provide details related to goods or services to be offered How to develop a marketing plan

The Marketing Plan SECTION 35.2 Why It's Important The organization and marketing section of the business plan outlines how you plan to organize the business. It also explains how you will use advertising and promotional activities to help your business grow and prosper in the competitive marketplace.

The Marketing Plan SECTION 35.2 job descriptions organization chart Key Terms job descriptions organization chart

The Marketing Plan SECTION 35.2 Organization and Marketing Plan This section of the business plan tells how you plan to organize the new business. It describes: Your current and anticipated staffing needs. How you plan to sell your product. How you intend to reach and satisfy customers with your product. The details of your proposed product, including your potential suppliers, manufacturing or selling methods, and inventory policies. Your marketing plan, including pricing strategies and promotional plans.

The Marketing Plan SECTION 35.2 Proposed Organization The organization part of your business plan is essentially a blueprint that lays the foundation for the structure of your proposed business. It includes: types of ownership steps in establishing your business personnel needs Slide 1 of 3

The Marketing Plan SECTION 35.2 Proposed Organization Types of Ownership Identify whether your business will be a sole proprietorship, partnership, or corporation, and your rationale for your choice. Steps in Establishing Your Business These steps will depend on your form of business organization. Slide 2 of 3

The Marketing Plan SECTION 35.2 Self-Proposed Organization Personnel Needs Identify the jobs essential for your business to run properly. Your personnel needs should include: Job descriptions that are written statements listing the requirements of a particular job. An organizational chart diagram of the various jobs and functions that are found in a company, with lines of authority clearly shown. Slide 3 of 3

The Marketing Plan SECTION 35.2 Business Functions Administration Production Marketing Operations Personnel Financial Legal Public Relations Purchasing Manufacturing Distribution Service Advertising Sales This table shows the typical functions performed in most businesses in three general categories: administration (running the business), production (making the product), and marketing (selling the product). Choose any of the above functions, such as purchasing. What are two positions you would find in this area?

The Marketing Plan SECTION 35.2 Proposed Good of Service One part of your business plan should include information on: the types of goods and services you will offer your potential suppliers manufacturing plans inventory policies

The Marketing Plan SECTION 35.2 Proposed Marketing Plan Your marketing policies describe the way you will price and promote your product. Pricing Policies Set a price high enough to make a profit, but competitive enough to attract customers. Promotional Activities Identify ways to reach the greatest number of potential customers with the most economical use of your time and money.

Reviewing Key Terms and Concepts ASSESSMENT 35.2 Reviewing Key Terms and Concepts 1. What elements should be included in the proposed organization part of the business plan? 2. Why are job descriptions important? 3. What is the purpose of an organization chart? 4. What information should be included in your proposed good or service part of the business plan? 5. What items should be covered in the marketing plan for a new business?

ASSESSMENT Thinking Critically 35.2 How could a poorly written business plan hurt a new business venture?

Marketing Essentials End of Section 35.2