Marketing Essentials

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

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SECTION 35.2
The Marketing Plan
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.
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SECTION 35.2
The Marketing Plan
Key Terms

• job descriptions
• organization chart

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SECTION 35.2
The Marketing Plan
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.

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SECTION 35.2
The Marketing Plan
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
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SECTION 35.2
The Marketing Plan
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
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SECTION 35.2
The Marketing Plan
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
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SECTION 35.2
The Marketing Plan
Business Functions
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?
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SECTION 35.2
The Marketing Plan
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

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SECTION 35.2
The Marketing Plan
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.
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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?
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ASSESSMENT
35.2
Thinking Critically
How could a poorly written business plan hurt a
new business venture?
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Marketing Essentials
End of Section 35.2