Project 8- Marketing Plan Mr. Sherpinsky Entrepreneurship Council Rock High School North.

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Presentation transcript:

Project 8- Marketing Plan Mr. Sherpinsky Entrepreneurship Council Rock High School North

Overview Objective: To produce the Marketing Plan section of your business plan The Marketing Plan ProductPromotionPlacePrice

What is Marketing & Why Plan? Marketing is the activities of a company associated with buying and selling a product or service and includes: Advertising Selling Delivering To be successful, you MUST have a plan. Marketing plans address the 4P’s of Marketing known as: Product, Place, Price, and Promotion

4P’s of Marketing Product What products will I sell? Begin with researching your competition What do they do? What will I do? Determine what products you will be able to offer considering you are a full-time student

4P’s of Marketing Place Where will products and/or services you sell be sold?? Evaluate your ability to travel to customer’s locations Will you operate your business from your home or your client’s home? Where will the products and services you sell be delivered? Your house The customer’s house

4P’s of Marketing Price What price will I charge for the products and/or services I offer? Conduct a cost analysis to determine the selling price of your products/services Service providers need to ask how much money per hour do you need to make? Carefully study your competitor’s pricing Never be too low or too high!

4P’s of Marketing Promotion How will I promote and advertise the products and/or services? Hundreds of ways to promote yourself and your products/services Again, look at your competition Connect your offerings with your customers Examine the real cost of ads, promotional items, etc….

4P’s of Marketing Promotion How will I promote and advertise the products and/or services? Flyersprint ads Brochuresbusiness cards newsletterweb site Billboardsdirect mail

Tips List each product or services you’ll offer Figure out your actual costs to produce Complete a pricing table to justify what you want Make a complete list of potential advertising methods Build a handout/brochure to make this promotion process easier.