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Unit 4

Business Plan
and
Entrepreneurial Marketing
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Business Plan

A business plan is a formal written document containing business

goals, the methods on how these goals can be attained, and the time
frame within which these goals need to be achieved. In simple terms,
a business plan increases entrepreneurs' chances of success.

Scope refers to the combined objectives and requirements needed to

complete a project. scope management such an important part
of business—it saves both time and money.
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Business Plan vs Business Canvas

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Contents of Business Plan

 Business Plan Template

Here is a basic template that any business can use when developing its business plan:
 
 Section 1: Executive Summary
Present the company’s mission.
Describe the company’s product and/or service offerings.
Give a summary of the target market and its demographics.
Summarize the industry competition and how the company will capture a share of the available market.
Give a summary of the operational plan, such as inventory, office and labor, and equipment requirements.
 Section 2: Industry Overview
Describe the company’s position in the industry.
Describe the existing competition and the major players in the industry.
Provide information about the industry that the business will operate in, estimated revenues, industry trends, government influences, as well
as the demographics of the target market.
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Contents of Business Plan

 Section 3: Market Analysis and Competition

Define your target market, their needs, and their geographical location.
Describe the size of the market, the units of the company’s products that potential customers may buy, and the market
changes that may occur due to overall economic changes.
Give an overview of the estimated sales volume vis-à-vis what competitors sell.
Give a plan on how the company plans to combat the existing competition to gain and retain market share.
 Section 4: Sales and Marketing Plan
Describe the products that the company will offer for sale and its unique selling proposition (USP).
List the different advertising platforms that the business will use to get its message to customers.
Describe how the business plans to price its products in a way that allows it to make a profit.
Give details on how the company’s products will be distributed to the target market and the shipping method.
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Contents of Business Plan
 Section 5: Management Plan
Describe the organizational structure of the company.
List the owners of the company and their ownership percentages.
List the key executives, their roles, and remuneration.
List any internal and external professionals that the company plans to hire, and how they will be compensated.
Include a list of the members of the advisory board, if available.
 Section 6: Operating Plan
Describe the location of the business, including office and warehouse requirements.
Describe the labor requirement of the company. Outline the number of staff that the company needs, their roles, skills training needed, and
employee tenures (full-time or part-time).
Describe the manufacturing process, and the time it will take to produce one unit of a product.
Describe the equipment and machinery requirements, and if the company will lease or purchase equipment and machinery, and the related
costs that the company estimates it will incur.
Provide a list of raw material requirements, how they will be sourced, and the main suppliers that will supply the required inputs.
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Contents of Business Plan
 Section 7: Financial Plan
Describe the financial projections of the company, by including the projected income statement, projected cash flow
statement, and the balance sheet projection.
 Section 8: Appendices and Exhibits
Quotes of building and machinery leases
Proposed office and warehouse plan
Market research and a summary of the target market
Credit information of the owners
List of product and/or services
Business Plan Template- CANVA
https://www.canva.com/templates/EADapHldeWk-green-business-plan-business-presentation/
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Marketing Concepts, Strategy and Plan

Topics
 Marketing Definition
 Marketing Concepts
 Marketing Strategies
 Types of Marketing Strategies
 Marketing Strategies Steps
 Marketing Plan
 Marketing Planning Process
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Marketing Definition

Marketing refers to activities a company undertakes to

promote the buying or selling of a product or
service. Marketing includes advertising, selling, and
delivering products to consumers (B2C) or other
businesses (B2B). Some marketing is done by affiliates
on behalf of a company
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 Identify your customers for your business

 What marketing ways will you propose for your
business
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Marketing Concept

The marketing concept is the use of marketing data

to focus on the needs and wants of customers in
order to develop marketing strategies that not only
satisfy the needs of the consumers/customers but
also the accomplish the goals of the organization.
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Marketing Concept
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Marketing Strategy

A marketing strategy refers to a business's overall game

plan for reaching prospective consumers and turning them
into customers of the products or services the business
provides. A marketing strategy contains the company’s value
proposition, key brand messaging, data on target
customer demographics, and other high-level elements.
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Types of Marketing Strategies
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Marketing Strategy Steps
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 Marketing Mix (4Ps):

Product
Price
Promotion
Place
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Marketing Plan

A marketing plan may be part of an overall business

plan. Solid marketing strategy is the foundation of a
well-written marketing plan so that goals may be
achieved. While a marketing plan contains a list of
actions, without a sound strategic foundation, it is of
little use to a business.
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Case study:

 For your business design a marketing plan:

A) Design Marketing mix (4Ps of your business)
Product, price, promotion and place
B) What will be the steps of doing marketing for your business?
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Practice Questions

Q1. Discuss need and importance of Marketing.

Q2. Discuss core marketing concepts.

Q3. Discuss different steps of Marketing strategy.

Q4. Write short note on different types of Marketing strategies.

Q5. Explain Marketing Planning Process.

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Market Research

Topics
 Market Research Definition
 Market Research Steps
 Market Research Methods
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Market Research Definition

The process of gathering, analysing and interpreting

information about a market, about a product or
service to be offered for sale in that market, and
about the past, present and potential customers for
the product or service.
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Market Research Steps
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Market Research Methods
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Primary & Secondary Research
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 Happiness:
I am:
Extremely happy- 7
Very happy-6
Happy-5
Neither happy or unhappy- 4
Unhappy-3
Very Unhappy-2
Extremely Unhappy-1
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Quantitative & Qualitative Research
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Descriptive Research
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Exploratory & Casual Research
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Practice Questions

Q1. Define Market Research.

Q2. Discuss different steps of Market Research.

Q3. Discuss different Research Methods .

Q4. Differentiate between Primary Research and Secondary Research.

Q5. Discuss Qualitative Research and Quantitative Research..

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Marketing Tools

Topics
 Marketing Tool Definition
 Marketing Tools
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Marketing Tool Definition

The techniques and materials used by those who

are involved in the promotion of goods and services.
Most business that need to sell their goods or
services to the public will make extensive use of
various marketing tools, such as market research
and advertising to help further their success.
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Marketing Tools
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Marketing Tools
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Event Marketing

Event marketing is a strategy marketers use to promote

their brand, product, or service with an in-person or real-
time engagement. These events can be online or offline,
and companies can participate as hosts, participants or
sponsors. Marketers use both inbound and outbound
event marketing strategies for promotional purposes.
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Search Engine Optimization (SEO)

Search engine optimization is the process of growing

the quality and quantity of website traffic by
increasing the visibility of a website or a web page to
users of a web search engine.
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Surveys

A survey is a research method used for collecting data

from a predefined group of respondents to gain
information and insights into various topics of interest.
Google Analytics is a web analytics service offered by
Google that tracks and reports website traffic, currently
as a platform inside the Google Marketing Platform
brand.
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Advertising

Advertising is a marketing communication that

employs an openly sponsored, non-personal message
to promote or sell a product, service or idea.
Sponsors of advertising are typically businesses
wishing to promote their products or services.
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Direct Mail

Direct mail is a form of marketing that involves sending

a physical piece of promotional material. Some of the
most common forms of direct mail include Brochures,
Letters, Flyers, Newsletters, Catalogs, Postcards,
Coupon envelopes and Packages.
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Lead Generation

​ ead generation is the process of identifying potential

L
customers for your business’s products or services.
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Practice Questions

Q1. Discuss various Marketing Tools.

Q2. Discuss different steps of SEO.

Q3. Discuss the use of Google Analytics.

Q4. Discuss the common forms of Direct Mail.

Q5. Discuss the need and importance of Advertising.