business plans marketing yourself. marketing defines your product defines your product defines...

BUSINESS PLANSBUSINESS PLANS

MARKETING YOURSELFMARKETING YOURSELF

MARKETINGMARKETING

Defines your productDefines your product Defines groups most likely to Defines groups most likely to

use productuse product Educates groups on product’s Educates groups on product’s

features and benefitsfeatures and benefits

BUSINESS PLANNINGBUSINESS PLANNING

Business idea statementBusiness idea statement Determine target marketDetermine target market Marketing mixMarketing mix Statements of action and Statements of action and

achievementachievement Key operating indicatorsKey operating indicators Customer serviceCustomer service Financial informationFinancial information Budgets Budgets

IDEA STATEMENTIDEA STATEMENT

What business do you want to What business do you want to be inbe in

What needs to you wish to serveWhat needs to you wish to serve What clients do you wish to What clients do you wish to

serveserve How will you offer services or How will you offer services or

productproduct

TARGET MARKETTARGET MARKET

Through market researchThrough market research Done to determine feasibility of Done to determine feasibility of

business ideabusiness idea

MARKET RESEARCH MARKET RESEARCH INVESTIGATIONINVESTIGATION Define objectivesDefine objectives Conduct situational analysisConduct situational analysis Conduct informal investigationConduct informal investigation Determine if further investigation Determine if further investigation

is neededis needed Formal investigationFormal investigation Analyze and interpret dataAnalyze and interpret data Prepare written reportPrepare written report

MARKETING MIXMARKETING MIX

ProductProduct PlacePlace PricePrice PromotionPromotion

PRICEPRICE

Competitive pricingCompetitive pricing Cost of operationCost of operation Pricing strategyPricing strategy Premium pricingPremium pricing Market pricingMarket pricing Introductory pricingIntroductory pricing

COMPETITIVE PRICINGCOMPETITIVE PRICING

Know what the competitors are Know what the competitors are chargingcharging

Packaging components such as Packaging components such as nutrition consult and exercise nutrition consult and exercise sessionsession

COSTS OF OPERATIONCOSTS OF OPERATION

PersonnelPersonnel OperationsOperations Marketing Marketing

PRICING STRATEGYPRICING STRATEGY

Discuss with administrationDiscuss with administration Define if your own businessDefine if your own business 3 strategies – premium, market, 3 strategies – premium, market,

bargain (not the same as bargain (not the same as introductory pricing)introductory pricing)

PROMOTIONPROMOTION

Paid advertisingPaid advertising Public relationsPublic relations What are target marketWhat are target market Who are your customersWho are your customers Where do they seek informationWhere do they seek information Mix and level changes during Mix and level changes during

product life cycleproduct life cycle

MARKETING PLANNERMARKETING PLANNER

Plan time and resources on Plan time and resources on calendarcalendar

Promotions on calendar Promotions on calendar particularly if they have a particularly if they have a seasonal cycleseasonal cycle

STATEMENT OF ACTION STATEMENT OF ACTION AND ACHIEVEMENTAND ACHIEVEMENT

DEFINITIONS –HEALTH DEFINITIONS –HEALTH CARE WORLDCARE WORLD Goal: a sweeping, open-ended Goal: a sweeping, open-ended

statement of what you want your statement of what you want your business to achievebusiness to achieve

Objectives: specific, measurable Objectives: specific, measurable activities, name resources, time activities, name resources, time frames, and projected resultsframes, and projected results

Mission statement: what business Mission statement: what business you are in, whom you will serve, how you are in, whom you will serve, how you will fulfill clients’ needsyou will fulfill clients’ needs

KEY OPERATING KEY OPERATING INDICATORSINDICATORS Ongoing evaluation strategies Ongoing evaluation strategies

monitored at regular intervalsmonitored at regular intervals Identify and correct problem Identify and correct problem

areasareas Establish key operating Establish key operating

indicators in marketing, product indicators in marketing, product quality, operations, financequality, operations, finance

Often expressed as ratiosOften expressed as ratios Documentation Documentation

CUSTOMER SERVICECUSTOMER SERVICE

Service received will determine Service received will determine if customers returnif customers return

FINANCIAL INFORMATIONFINANCIAL INFORMATION

Break-even pointBreak-even point Income statement – revenue, Income statement – revenue,

expenses, and income for expenses, and income for several scenariosseveral scenarios

Budget plan – target revenue Budget plan – target revenue and costs in a monthly and and costs in a monthly and whole-year formatwhole-year format

BUDGETSBUDGETS

Revenue budgetRevenue budget Personnel budgetPersonnel budget Marketing budgetMarketing budget