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