Preparing a Business Plan Part 5
It’s all about Marketing!
Now you are getting close to opening you
business. Remember, you have $150,000
but you will probably need to obtain more money through financing. This is the last part of your business plan
and then you will be ready to put it together.
Task
One: 4 P’s
You are to create a chart describing the 4 P's for your
company
Product
Price
Place
Promotion
Task
Two: Marketing
Strategies/Plan
Write a
brief overview of your marketing plan.
How will you advertise, where, when?
What advertising strategies will you be using? The advice your marketing
professional gave you will come in handy here.
Task
Three: Create an Advertisement
You are to create a advertisement
for your company: For this you may use
the advertisement created for you by your Marketing professional or create your
own. You may also choose to do
both.
Task
Four: Compare
your competitions Marketing Plan
You are to find at least 5 advertisements from
you direct competition. What is common
with the ads? What advertisings
strategies are they using? What are
their strengths? What are their weaknesses?
Can you ‘copy’ any of their advertising strategies? What have you learned from looking at your
competitors?
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