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 transcript:

SESSION 4: MARKETING

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

CONTACT DETAILS SURGERY HOURS On Request

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

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?

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?

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

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

ANY QUESTIONS?