PHASE IV: Marketing Plan
The CEVC marketing plan portion will create a document and present a marketing plan on the proposed business. The following information, at a minimum, should be included in the marketing plan:
- MARKET ANALYSIS:
- Target Market:
- Define your target market by developing customer profiles.
- Market Size:
- How much is currently being spent on the product by all customers?
- Market Profile:
- Who will buy?
- Where are your customers located?
- Why will customers purchase your product/service?
- What are the buying habits of the customer?
- What will your customers expect from your business?
- COMPETITION:
- Who is your direct competition?
- Who is your indirect competition?
- SWOT Analysis of your three (3) top competitors
- Compare your business to your competitors in the area of price, quality, and service.
- PROPOSED PRODUCTOR SERVICE:
- Description of the product or service, manufacturing plans and/or potential suppliers, legal requirements in the production, promotion and distribution of the product and/or service.
- Identify your competitive advantages in the market.
- PROMOTIONAL:
- Personal Promotion: non-media sales plan, staffing and merchandising appeal.
- Non-Personal Promotion: media, basic appeal and initial promotion plan.
- PRICING:
- Costs
- Markups
- Relationship to competitors
- PRICING:
- Detailed marketing budget for the first year of operations.
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