Transcript 3 April Business Plans Marketing

3 April
Business Plans
Marketing
Business Plan
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Title Page
Executive Summary
Industry Analysis
Customer Analysis
Competitor Analysis
Company and Product Description
Marketing Plan
Development & Operations Plans
Team
Critical Risks
Financial Plan
Title Page
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Company name and logo
Tagline
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Just Do It!
Others that have survived?
Contact
Date
(Controls)
Executive Summary
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Write it last
Tell the story
Excite the reader
Elaborate your tag line
Industry Analysis
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3 Ms
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What’s hot? What’s not?
What is happening in the market in general
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Market demand
Market size
Market analysis
Is it a growing?
Local market conditions
Customer Analysis
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Who is your customer?
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The more specific the better
How does this customer behave?
Competitor Analysis
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Who are they?
How do you position yourself?
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BROAD view of your competitors
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Related businesses
Businesses or behaviors that eliminate your
market
Free alternatives
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Company and Product
Description
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(Company)
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How you are organized
What you have accomplished
Product or service description
Customer value proposition
What differentiates it from others?
Growth plan
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How do you start?
Where do you grow from here?
Marketing Plan
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Target Market and Product Strategy
Service Strategy
Pricing Strategy
Distribution Strategy
Advertising and Promotion
Sales Strategy
Marketing
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Marketing vs. sales
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Marketing: advertising, promotions
Public relations and publicity
Sales
Focus groups
Target Market & Product Strategy
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Dimensions on which you need to sell
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Relate to your competitors
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What dimensions do people buying a car
consider?
What dimensions will your customer deliver?
Are you more focused or more general?
Are you going for atmosphere or bare bones?
Justification of your assessment
Service Strategy
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Physical product
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Software
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Warranty
Upgrades
Customer support
Pricing Strategy
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Two models
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Cost-plus
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Market-demand
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Much harder to evaluate
Look at current market and determine where you
should fall (above, average or below)
Goal is not to lose money
Distribution Strategy
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Options
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Mail
Trucking
Delivery
Pick-up
Consider
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Weight
Fragility
Set up
Where your customers are
Advertising and Promotion
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How will you reach your target group?
Advertising
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Television
Radio
Newspapers
Magazines
Internet
Grass Roots
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Flyers
Press
Publicity
Sales Strategy
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Who will sell for you?
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Dedicated sales force
Other stores
Internet
Sales and Marketing Forecasts
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Comparable – derive from competitors
Build up – based on what you expect to sell, profit
per unit, sales per day, …
Development & Operations Plans
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Development
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What needs to be done before you’re “in
business”
Operations
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Ongoing activity
Cash flow: it’s possible to fail even with sales
Outsourcing: control your competitive advantage
Operations Plan
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Ongoing activity
Cash flow
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It’s possible to fail even with sales
What you will do yourself and what will you
outsource
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Control your competitive advantage
Team: Company
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As important as the idea
If your life depended on a particular piece of
software, what would you want to know about
it?
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Writer “highly intelligent and possessed by an
extremely rigorous, almost fanatical desire to
make their program work the way it should.”
Bollinger (2001)
Compensation
Team: Advisory Board
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Mentoring
Formal or informal
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Real board of directors
Personal board of directors
People with different skills
People with influence
Co-opt people that you need
Critical Risks
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Creates credibility
Include
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Critical assumptions
Factors that need to happen for success
Typical risks
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Market
Competitors
Development cost
Operating expenses
Financing