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Business Plan Development! !

Key Criteria of a Successful Biz Plan

Marketing & Sales Plan with Market Analysis! Executive Summary

!

James Rushing



Farm Coordinator

Hawaii Community College

Office of Continuing Education and Training

[email protected]



Marketing & Sales Plan



Profitable?

“This presentation is made possible by the generous support of the American people through the United States Agency for International Development (USAID). The contents are the responsibility of the University of Hawaii and Southern Christian College and do not necessarily reflect the views of USAID, the United States Government, or Higher Education for Development (HED).”



Financial Plan



Production Plan

Business Model & Management Team



Target Market- Main Goal

No Market...No Sales

Identify Your Market Before Production

“The Purpose of a Business is to Create a Customer”

Peter Drucker

Derek Kurisu

KTA Superstores

“Get Feedback From Your Buyers”

How to Have a Successful Marketing Plan

• Does Your Product/Service Stands Out in the Market?

• Do You Have a Strong Marketing Campaign?

Marketing Plan

• Do You Have a Dynamic Sales Force?

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Marketing = Biz Backbone

Role of a Marketing Plan

Biz Survival = REVENUE

Revenue = Price & Sales

A Simple Marketing Goal Can Increase Sales

Biz

Plan

Production Plan

Mktg. Campaign

• Strategies &

Actions to Sales

• Deployment of Methods

Financial Plan

Marketing Plan

Your Marketing

Your Market and

Are Dependent On...

Strategies

Customers

Strategies in Context

Adapting Marketing Strategies



Business Strategy

Your Approach to

Ensure Biz Success



Marketing Strategy

Right Message to Right

People Via Right Methods

Demand

Marketing Plan

Strategies and Actions to Increase Sales



4. Overcome Maturation



SHAKE OUT!



5. Prevent Decline



3. Promote Growth

Find a Need and Fill it



Product Strategy

Convert Prospects Into

Customers Successfully

Sales Strategy

Incubation: Marketing Strategies

Phase 1

• Testing of Biz Idea



• Prepare Marketing Plan

Strategies?

SWOT - Focus on Strengths and Opportunities



CLOSE! 2. Generate Customers



Time

Market Analysis

Industry Overview

• Market Analysis

Find Market Need and Fill It



1. Mkt. Research

Ex: Ag or Tourism

• Competitors: History, Products, Performance

• Social Trends: Technology, Adoption, Use, Change

• Projections

• Regulatory Issues

Ex: Is It Unique?

Market Overview

• Desirable Target Market

• Current Buying Patterns and Market Trends

• How Competitive Is Your Product?

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Introduction: Marketing Strategies

Phase 1I

• Not Many People Know About the Product

Branding

Brain Tattoos

Provide a Solution to a Problem That Customers Are Willing To Pay to Solve

• Sales Usually Low

Strategies?



Intensive

Promotion



Educate

Potential

Buyers



Branding

Growth: Marketing Strategies

Phase III

Keep Message Simple & Single-Focused

Purple Cow (Word of Mouth)

High Quality

Product/Service

• Develop Momentum

• Customers ‘Caught On’

• Benefits of Using Product or Service

• Sales , Generating Profits

Strategies?

Compete With Newcomers

Word of Mouth

‘Purple Cow’

Create WOM

“Sneezers ”

Customer

Experience Mgt.

Customer

Relationship Mgt.

Purple Cow Strategies

• Give People More Than Their

Money’s Worth (Perception?)



• Go the Extra Mile in Service



• Don’t Expect Instant Results This Process Can Be Painfully Slow

Customer Experience Mgt Guidelines

Create Memorable Touch Points

• Identify Needs - Advertise & Reach Potentials

• Create Value for Customers

• Free to Try

• Make a Difference in Their Lives

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Customer Relation Mgt Guidelines

Good Price,

Relevant to Needs

More Products to Fewer People

Focus on 10-20% Most Loyal Customers

Tracking Records,

Get Feedback

One Customer at a Time- Relationship Building

Customer

Satisfaction Program

One Customer at a Time- Relationship Building

Learning,

Collaborating

Mutants Mgt (Evolution)

Embrace Change as You Go

• Test Your Products



• Modify & Test...Again...& Again



• Test Until it Works



• Once it Works...Modify & Test...

Again....& Again

Mutant Management Guidelines

Blue Elephant

People Don’t Know

What They Want...

Test 3-5

Products or

Service

CHANGE!

Non-Stop

Measure:

Which

One Sells?

They Know They Want

It Once They Have

Tried It

Implement

Create a Range

of Products

Test Them With a Wide

Range of Potential

Customers

Identify Their

Mindsets

Adapting Marketing Strategies

Demand

Blue Elephant Guidelines



4. Overcome Maturation



SHAKE OUT!



5. Prevent Decline



3. Promote Growth



1. Mkt. Research



CLOSE! 2. Generate Customers



Time

Create Target

Optimized Products

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SHAKE OUT!

Sales Significantly Lower

Coffee Break!

Customers Saturated

They Already Are Buying as

Much Product As They Need

Over Capacity

Competitors Entered the Market

Maturation: Marketing Strategies

Phase IV

Decline: Marketing Strategies

Phase V

• Slow Growth

• Competitors “Share” the Market

• Declining Sales

• Happens To All Products

Strategies?

Strategies?

Open New Markets

Win Over Customers

Innovate

Lower Prices

Bottom Line

Replace Product

To Invigorate Sales

Styles of Marketing

Goal

Marketing Strategies

IV

V



I

II

III

New Products/ Services

Conventional

Big Budget, Expected, Press Releases, Max Results With Max Resources

Sales

Methods

‘Guerrilla’

Time, Energy, Unique, Imagination, Engaging, Interactive, Unexpected, Generates Buzz,Viral, Min Resources

Strategies

• Made to Stick; Purple Cow; Blue Ocean; Cust Exp. Mgt; ...Must Fit the Stage of Your Business

Branding; Blue Elephant; Cust Rel. Mgt; Mutants Mgt

• Etc.

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Guerrilla Marketing

Test Various Marketing ‘Weapons’

Create a Marketing Calendar

Deployment Options

Use Marketing Options Skillfully

• Fliers

• Brochures

• Postcards

• Biz Cards

• Direct Mail

• TV/Radio

• Website

• Facebook

• Twitter

• Newspaper

• W.O.M.

• Referrals

• Collaboration

Systematically Launch Marketing Plan

Get Your Biz Online- Free

Target Market

www.GYBO.com/Hawaii

Focus & Flourish by Gaining a Tiny Slice of the Market

• 68% of Small Businesses Do Not Have a Website

• 97% of Internet Users Look Online For Local Products

Your Niche

and Services

Define Your Target Market

• Age Group

• Sex

• Income

• Location

Also Free- Facebook, Twitter, Blogs

Create a Marketing Plan

For Your Biz Plan...

• Choose 3-4 Strategies Based on Your Product

Brand Most What do you do best?

Competitive Edge

What do you stand for?

Convert

Powerful Marketing Message

Message

Deliver

Target Right Prospects

Market

Type and Life Cycle Phase

• Choose 5-8 Delivery “Weapons” Based on Your Resources, Target Market

• Assign Time Frames to All

• Create a Calendar

• Draft a Marketing Plan

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