Chapter 6

Distribution, Promotion, and Selling 6.1 The Marketing Mix─Distribution 6.2 The Marketing Mix─Promotion 6.3 Selling and Promoting

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Lesson 6.1

The Marketing Mix─Distribution Goals  Describe the four basic options of channels of distribution.  Apply channels of distribution to the specific needs of various types of businesses.  List factors to consider in the physical distribution of products. Chapter 6 Slide 2

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Supply Chain Management  supply chain management  the coordination of manufacturers, suppliers, and retailers working together to meet a customer need for a product or service

Chapter 1 Slide 3

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 distribution  involves the locations and methods that are used to make products available to customers

 channels of distribution  the routes that products and services take from the time they are produced to the time they are consumed

Chapter 6 Slide 4

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Direct and Indirect Channels  direct channel  moves product directly from the manufacturer to the consumer

 indirect channel  uses intermediaries  people or businesses that move products between the manufacturer and the consumer

Chapter 6 Slide 5

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Channel Options

Chapter 6 Slide 6

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Manufacturer to Consumer  sales methods may include:  the Internet  direct mail  television shopping channels

 no intermediaries  most cost-effective  limited sales opportunities

Chapter 6 Slide 7

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Manufacturer to Retailer to Consumer  sales force sells goods to retailers  retailers sell goods to consumers  offers more sales opportunities

Chapter 6 Slide 8

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Manufacturer to Wholesaler to Retailer to Consumer  manufacturer sells large quantities to a wholesaler  wholesaler stores and sells smaller quantities to many retailers

 lower production costs can lead to lower prices

Chapter 6 Slide 9

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Manufacturer to Agent to Wholesaler to Retailer to Consumer  The manufacturer delegates the sales function to an agent.  frequently used in international marketing

Chapter 6 Slide 10

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

If you are selling products, which distribution channel will you use? Why?

Chapter 1 Slide 11

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Distribute Goods and Services  Distribution channels will vary based on business needs.  market size  type of product or service  customer needs and wants Multi-Channel Distribution Tactics - M&M's Chapter 6 Slide 12

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Retail Businesses  Retail businesses can distribute products in a variety of ways.  offer the product at a convenient location during convenient times  use advertising to reach customers  allow for phone or fax ordering

 develop a website for online purchases Chapter 6 Slide 13

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Service Businesses  Most service businesses sell directly to customers.  production and consumption of the service happens at the same time  the service needs to be provided to the customer when the customer needs it  some service providers sell through retail stores Chapter 6 Slide 14

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Manufacturing Businesses  Manufacturers usually sell products to other businesses.  The other businesses sell to the final consumer.

Chapter 6 Slide 15

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Physical Distribution  Physical distribution    

Chapter 6 Slide 16

transportation storage handling packaging

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Transportation  The best and most cost efficient transportation method should be determined.  The type of product and the destination of the product will help guide the decision-making process.

Chapter 6 Slide 17

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Product Storage and Handling  Benefits of efficient storage include:  balancing supply and demand of products

 Other considerations of storage include:  adds to the cost of products  increases the risk of damage or theft

Chapter 6 Slide 18

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Packaging  The purpose of packaging is to protect the product from the time between production and consumption.  Effective packaging provides value by minimizing product damage.

Chapter 6 Slide 19

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Receiving Goods to Sell  All types of businesses must receive goods from suppliers.  Sources that can be consulted to find suppliers include:  The American Wholesalers and Distributors Directory  The ThomasNet website  Trade magazines Chapter 6 Slide 20

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

1. Go to ThomasNet.com and find suppliers for your business (click on Supplier Discovery on top)

2. Add Distribution to your Marketing Plan!

Chapter 1 Slide 21

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Lesson 6.2

The Marketing Mix─Promotion Goals  List the many forms of advertising and discuss advantages and disadvantages of each.  Define publicity and describe ways to use publicity as a promotional tool. Chapter 6 Slide 22

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Promotion Strategies  promotional mix    

Chapter 6 Slide 23

advertising publicity personal selling sales promotion

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Advertising  advertising  a paid form of communication sent out by a business about a product or service

 Advertising is very important for small and/or new businesses.  Advertising should clearly communicate your message and image. Chapter 6 Slide 24

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Draw a Chart: Media

Advantages

Disadvantage

Online Television Radio Newspaper Telephone directory Direct-mail Magazine Outdoor Transit Chapter 1 Slide 25

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Online Advertising  Online advertising has increased as Internet usage has grown.  Online technology lets businesses interact with consumers via  chat rooms  blogs  e-newsletters Chapter 6 Slide 26

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Common types of online advertising include the following:      

Chapter 6 Slide 27

Banner Ad Floating Ad Wallpaper Ad (changes background of page) Trick Banner (looks like error or alert message) Pop-Up Ad Pop-Under Ad

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 As it is easier to determine the effectiveness of online advertising than traditional advertising, new methods to charge for online advertising have been developed.

Chapter 6 Slide 28

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Three common ways to charge for online advertising include:  Cost per Mil (CPM)  the advertiser is charged based on the exposure of the message to a specific audience  priced per thousand viewers reached with the message

Chapter 6 Slide 29

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Cost per Click (CPC)  the advertiser is charged based on the number of user clicks on the advertisement  viewers respond to the ad by clicking on the hyperlink within the ad

 Cost per Action (CPA)  the advertiser is charged when a user takes an action that leads to a sale  the publisher of the ad assumes all the risk in running this type of ad  advertisers prefer this type of charge for banner ads Chapter 6 Slide 30

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Disadvantages of Online Advertising  In an effort to combat excessive spamming, many Internet users now utilize software that blocks promotions from reaching their computers.

Chapter 6 Slide 31

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Television Advertising  commercials  last less than a minute

 infomercials  last a half hour or more  provide in-depth coverage about a specific product

Chapter 6 Slide 32

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Fees associated with television advertising include:  the fee paid to the station for airing the commercial  based on the length of time the commercial plays

 the costs of producing the commercial

Chapter 6 Slide 33

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Disadvantages of television advertising include:  it is very expensive  the audience is too broad to be effective for most businesses

Chapter 6 Slide 34

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Radio Advertising  less expensive than television advertising  listener demographics are more specific than television  easier to reach target audience

 pay for air time  pay for production costs Chapter 6 Slide 35

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Disadvantages of radio advertising include:  the message is purely audio  a visual of the product is not shown

 listeners may forget what they hear  listeners may “surf the airways” during commercials

Chapter 6 Slide 36

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Newspaper Advertising  Historically, newspapers were the single largest form of advertising in the U.S.  Advantages of newspaper advertising include:  relatively inexpensive  targets a limited geographic area  reaches a large number of people Chapter 6 Slide 37

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Disadvantages of newspaper advertising include:  Many people in the audience may not be interested in your business.  Targets an older market. Many people go to the web for news.  Your ad faces a lot of competition from many other ads in the newspaper.

Chapter 6 Slide 38

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Telephone Directory Advertising  Consumers use telephone directories repeatedly.  Ads usually appear close to the listing and phone number of the business placing the ad.

Chapter 6 Slide 39

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Disadvantages of telephone directory advertising include:  People only look in the directory when they are already seeking a specific business.  It is hard to persuade a potential customer to use your business instead of your competitor’s business.

Chapter 6 Slide 40

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Direct-Mail Advertising  promotional materials sent to target customers through the mail  Companies that specialize in maintaining targeted mailing lists can provide almost any type of list needed.

Chapter 6 Slide 41

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Disadvantages of direct-mail advertising include:  Direct-mail is often considered to be “junk mail.”  It often gets discarded without being read.

Chapter 6 Slide 42

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Magazine Advertising  Magazines are an excellent way to aim products and services at specific markets.  Local magazines that target a limited geographic area are often the best choice for small businesses.

Chapter 6 Slide 43

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Disadvantages of magazine advertising include:  National distribution can make some magazines an inappropriate way to advertise a local business.

Chapter 6 Slide 44

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Outdoor Advertising  billboards and signs  can be effective as the name of your business is located where many people can see it

Chapter 6 Slide 45

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Disadvantages of outdoor advertising include:  limited information can be included  may not project the image you wish to convey

Chapter 6 Slide 46

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Transit Advertising  signs on public transportation  can provide more information than a billboard  effective if your target market includes consumers who use mass transit

Chapter 6 Slide 47

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Social Networking Sites  Business owners are using social networking sites for business promotion.      Chapter 1 Slide 48

Twitter LinkedIn YouTube Facebook Blogging Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Budgeting for Promotion  Obtain cost estimates for all advertising that is under consideration.  Calculate a projected budget.  Determine whether your advertising budget, as a percent of sales, is in line with industry averages.

Chapter 6 Slide 49

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Create three ads for your business using Publisher:  Online ad  Direct mail  Newspaper/magazine ad  Telephone directory  Outdoor or transit ad

Chapter 1 Slide 50

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Publicity  publicity  a nonpaid form of communication that calls attention to your business through media coverage  can be positive or negative  Publicity is free.  Staging the events that generate publicity is usually not free. Chapter 6 Slide 51

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 press release  a written statement meant to inform the media of an event or product

Chapter 6 Slide 52

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Public Relations  public relations  the act of establishing a positive relationship with customers and the general public

Chapter 6 Slide 53

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Ways to support your community include:  sponsoring a sports team  donating to local charities  supporting work-based programs at local educational institutions  supporting Big Brothers or Big Sisters  organizing community programs

Chapter 6 Slide 54

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Self-Promotion  Self-promotion is a way to keep the name of your business visible and in the forefront of people’s minds.  Self-promotion methods include the distribution of goods with your company’s identifying information on it.  t-shirts  office supplies Chapter 6 Slide 55

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Using page 169 as a guide, create a press release announcing the grand opening of your business.

 Minimum of three paragraphs.  Pay attention to formatting, grammar, and spelling.  Print for grade today Chapter 1 Slide 56

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Add to your Marketing Plan: Promotion 1. Ways you plan on advertising 2. Public relations and self promotions you plan on using

Chapter 1 Slide 57

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Lesson 6.3

Selling and Promoting Goals  Explain the role of selling in a business.  Determine how to meet customer needs and wants.  Discuss other types of promotional activities.  Evaluate the effectiveness of promotional categories. Chapter 6 Slide 58

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Selling  Entrepreneurs need selling skills for many reasons.  It is necessary to sell business ideas to potential investors when selling a business.  For many customers, the salesperson is the business.  a positive image should be conveyed Chapter 6 Slide 59

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 personal selling  a direct communication between a buyer and a sales person  the sales person tries to influence the prospective buyer’s purchasing decision

Chapter 6 Slide 60

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Product Knowledge  features  the physical characteristics or capabilities of the product or service

 benefits  the advantages that could result from the use of those features

Chapter 6 Slide 61

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Determine Customer Needs and Wants  A salesperson must determine what need the customer is seeking to satisfy.  lower-level needs usually do not require personal selling  upper-level needs often require better selling skills

Chapter 6 Slide 62

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Needs Assessment  need satisfying  fulfilling the needs of a customer who knows exactly what they want

 problem resolution  helping the customer find products or services when they are not quite sure what they want Chapter 6 Slide 63

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Buying Decisions  rational buying decisions  based on the logical reasoning of customers  customers evaluate alternatives  purchase after careful thought

Chapter 6 Slide 64

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 emotional buying decisions  based on the desire to have a specific product or service  little time or thought is used when making the buying decision

Chapter 6 Slide 65

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Customer Decision-Making Process  A problem-solving approach for helping customers includes the following steps:  define the problem  gather information

Chapter 6 Slide 66

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

    

Chapter 6 Slide 67

identify various solutions evaluate alternatives select the best option take action evaluate the action

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Other Types of Promotion  sales promotion  an incentive offered to customers in order to increase sales

 rebate  a refund offered to people who buy a product

Chapter 6 Slide 68

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Telemarketing  telemarketing  using the phone to market your product or service

Chapter 1 Slide 69

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Visual Marketing  visual marketing  the use of visual media to promote, sell, and distribute a product or service to a targeted audience      Chapter 1 Slide 70

logo signage promotional tools company vehicles uniforms Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Evaluation Strategies of Promotional Plan 1. Is the volume of sales increasing? 2. How are you getting new customers? 3. Does your advertising and/or promotional activity produce direct responses?

Chapter 1 Slide 71

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

4. Do your networking activities create new opportunities for you? 5. Do your marketing tactics make it easier to sell your services? 6. What is your sales conversion rate? 7. Does your plan have a positive return on investment (ROI)?

Chapter 6 Slide 72

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 Complete your Marketing Plan  Make sure each part is labeled and in order  Refer to your Marketing Plan outline  Proof read!!!  Print for Project Grade  10 points off every day it is late

Chapter 1 Slide 73

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.