Marketing/Sales Strategy

Marketing/Sales Strategy.

You are opening a coffee shop in smithfield. The target market are professionals of Smithfield that just want coffee in a quite place, and use other facilities like printers, fax machine and so on. 4. Marketing/Sales Strategy AVOID WAFFLING. STRAIGHT TO THE POINT. << This section sets out your strategies for reaching your target market, arousing their interest in your product or service, and actually delivering the product or service to them in sales. >> Marketing Strategy << How you will position your product or service in the market and differentiate it from its competitors: Which segments of the market will be targeted first and why? How will this be developed to reach the full target market? How will you differentiate your product or service? What key benefits will be highlighted? Who will do the marketing: staff, agency, reps? >> Sales Strategy << How you will sell your product or service to the target market. Directly Retail Distributor Agent Sales rep Website Analyse for each method the costs involved, whether it will reach the intended market efficiently, the control you would retain over the pricing and positioning, the logistics, and the overall integration with your marketing strategy. State the advantages of the methods you have chosen to sell your product or service. >> Pricing << How you will set the price charged for your product or service. Considerations include: Competitors’ prices need to reference Level of competition in the market Perception of quality-price relationship by customers Production costs and overheads Suppliers and the costs to you State how each product or service will be priced? Marketing and Communications Strategy << How you will promote your product or service in the marketplace. WHIT THIS, TRY TO CAPTURE ALL THE EVENTS OF SMITHFIELD Advertising “ where, when, how, to whom Public relations Direct marketing Website and internet marketing Exhibitions and conferences Web site eCommerce You need to include the prices using referenced sources, for all of the above and if you include Word-of-Mouth then how do you get the first few customers? 5. People and Operations ONLY FEW PEOPLE IS REQUIRED TO RUN THE COFFEE SHOP << This is where you will outline the intended structure of the company in terms of management, number of employees, and the physical operational requirements to produce or supply the product or service. >> Management Organisation Chart << Include a diagram of the way in which the management of the new venture will be organised. This should show the areas of responsibility of each manager and the employees to be taken on over the next three years. >> Staffing << State what employees will be taken on over the next three years, with which skills, in which areas of the business. >> Salary must be referenced from a recruitment site(s) Remember for many of the roles they’re covered by Joint Labour Court Agreements and the hourly/weekly rate is higher than minimum wage. Also hourly paid employees work 40 hours per week. Training Plans << Outline the planned employee and management development to be undertaken in order to maintain a skilled workforce. This should also tie in with the future market developments and any new product or service developments. >> Operations << State the physical requirements of the business: Premises & rent Equipment Suppliers & costs Hours of Operation hours of operation Days of the week how will you cover vacation, sickness, training etc. 6 . Competitors Competitor profiles: List the major competitors here both in kind and not in kind. Introduce where relevant Strengths and Weaknesses of each competitor. ALSO INCLUDE (THE THIRD PLACE CAFE) THE NEW COFFEE SHOP IN SMITHFIELD Competitor position: Introduce relevant Strengths & Weaknesses. 7. Financial Projections REMEMBER THE NEW TAX RATE, PLS INCLUDE THIS IN YOUR CALCULATIONS Requirements for Preparation of Projections DETAILED DISCUSSION OF THE FINANCES OF THE BUSINESS OVER 3 YEARS 1. Sales Assumptions provided by unit, price segment 2. Expenditure categorised into Overheads and Promoters / key managers salaries key numbers MUST be referenced, i.e. rent must some a referenced source 3. Identification of monthly and cumulative company operational deficits 4. Sensitivity analysis may be done 5. Projections should identify separately Operational Cash Flow and external Cash Injections Cashflow << Attach a monthly & annual cashflow prediction tables & charts for the first three years of the company’s operations. >> Funding Requirements must be borrowed from a bank or investor at an interest rate << State here the total funding requirements of the business, and how those are intended to be provided. You will also need to state the approximate breakdown of how these funds are to be spent. Sources: Promoters’ funds Bank lending Grants or loans from agencies Investment already received Investment sought Required for: Equipment R&D Marketing Staffing >> 8. Key Assumptions << This section reviews the key assumptions used in the financial projections. It is a guide to explain how key figures in the financial projections were arrived at. Included here should be items such as: Income sources Number of employees projected for each year and their intended salaries Projected investment in equipment and materials Projected R&D costs Depreciation allowed for Expected rent and rates charges Creditor days expected and debtor days allowed Expense calculations This section should be brief and to the point. Further detail regarding these items can be placed in the Appendices. >> Action Items List the key action items that must be achieved in the next 6 to 12 months in order to ensure the success of this business 9. Appendices << This section is used to provide the detailed data on which the main text of the business plan is based, and to provide extra information of interest to the readers of the business plan. Items for inclusion in appendices vary from business to business, but normally include some of the following: Detailed financial assumptions Detailed market research findings Promotional literature Product or service information Details of company website

Marketing/Sales Strategy

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