7. Company Overview
Introduction (1 paragraph)
Name, location, organization
Slogan
Mission Statement
History and Current Status (1 paragraph)
Markets and Products
Objectives
Length: about 1 page
8. Slogan
Pithy 4 to 10 word statement of
company purpose
Use in business plan, advertising,
descriptions of business, business
cards, …
10. Mission Statement
Semiconductor Equipment
[Semiconductor Equipment] will
become a world leader in supplying
lithography automation and
productivity enhancement products
for the semi-conductor industry
through innovative design and
unique customer insights.
11. Mission Statement
Website Management Co
The mission of [Website
Management Technologies] is to
help businesses engaging in e-
commerce achieve their sales and
customer service objectives by
enabling a better understanding of
Web site visitors’ behavior.
12. Mission Statement
Tech Support Company
[Tech Support Company] exists to provide outstanding
technical support service and technical training to its
customers. The Company’s target customers are
developers of computer applications, companies with high
demands for technical service and support, and retail
consumers of computer products. We are committed to
becoming the premier provider of technical help desk
solutions and professional training for IT personnel.
Towards this end, our management has affirmed that it
will adhere to the qualities of integrity, challenge,
innovation, enjoyment, shared leadership and customer
satisfaction.
14. Mission Statements
Fast Food Industry
To make, distribute and sell the finest quality
all-natural ice cream and related products in
The Entrepreneurial
a wide variety of innovative flavors made from
Environment:
Vermont dairy products.
Ben & Jerry‘s
To satisfy the world's appetite for good food,
well served, at a price people can afford.
McDonald’s
15. Mission Statement
LL Bean
Sell good merchandise at a
reasonable price;
Treat your customers as you would
your friends.
Leon Bean, 1911
Collins and Lazier, Managing the Small to Mid-sized Company
16. Mission Statement
General Electric
Become #1 or #2 in every market we
serve and revolutionize this company
to have the agility of a small
enterprise.
Jack Welch, 1983
Collins and Lazier, Managing the Small to Mid-sized Company
17. Mission Statement
Shipbuilding
We will always build good ships.
At a profit if we can,
At a loss if we must,
But always good ships.
Bath Ship Works
18. Mission Statement
Great Britain – WWII
Our whole people and empire have vowed
themselves to the single task of cleansing
Europe of the Nazi pestilence and saving
the world from the new dark ages. We
seek to beat the life and soul of Hitler and
Hitlerism. That alone. That all the time.
That to the end.
Winston Churchill, 1941
Collins and Lazier, Managing the Small to Mid-sized Company
19. Mission Statements
What makes a good mission
statement?
Compelling
Inspiring
Clear, measurable objectives
Concise
21. Marketing Plan Objectives
Most important piece of your plan
Build on industry and marketplace analysis –
define your niche
Identify your customers
Demonstrate how you will solve problems for
customers
Describe how you will reach customers –
advertising sales
Convince reader that there is an eager market
for your product or service
22. Marketing Plan Outline
Introduction
Target Market
Product/Service Strategy
Pricing Strategy
Distribution Strategy
Advertising and Promotion
Sales Strategy
Sales and Marketing Forecasts
23. Introduction
Seven sentence introduction
1. The first sentence tells the purpose of the marketing
strategy.
2. The second tells how you’ll achieve this purpose,
focusing upon your benefits.
3. The third tells your target market – or markets.
4. The fourth, the longest sentence, tells the marketing
weapons you’ll employ.
5. The fifth tells your niche.
6. The sixth tells your identity.
7. The seventh tells your budget, expressed as a
percentage of your projected gross revenues.
24. Introduction – Example
The purpose of Prosper Press is to sell the maximum number of
books at the lowest possible selling cost per book. This will be
accomplished by positioning the books as being so valuable to free-
lancers that they are guaranteed to be worth more to the reader
than their selling price. The target market will be people who can
or do engage in free-lance earning activities. Marketing tools to be
utilized will be a combination of classified advertising in magazines
and newspapers, direct mail, sales at seminars, publicity in
newspapers and on radio and television, direct sales calls to
bookstores, and mail-order display ads in magazines. The niche to
be occupied is one that stands valuable information that helps free-
lancers succeed, the ultimate authority for free-lancers. Our
identity will be one of expertise, readability, and quick response to
customer requests. Thirty percent of sales will be allocated to
marketing.
25. Target Market Strategy
Identify the market niche you will
serve
Be as specific as possible
Better to be too specific
Benefits to target market
What problems do you solve?
What needs do you fulfill?
26. Two Types of Benefits
Emotional
Hope, fear, love guilt, greed,
convenience
Financial
Increased profit, value pricing, save
money, payback period
27. Talk to Your Customers
Imperative that you talk with customers!
Casual conversations
Interviews
Surveys
Focus groups
Identify needs
Listen!
NOTE: see “The New Market Research”
(online INC article)
28. Target Market Questions
What buy now? How get service?
Would you be interested in …?
Demographics
Newspapers, magazines, TV
Would you buy?
Where would you expect us to advertise?
Who do you consider our competition?
Other comments?
Levinson, “Guerrilla Marketing” 3rd edition
29. Creating New Market Space
HBR, Kim & Mauborgne
Reduce
What factors might be reduced well below industry standards?
Eliminate Create
What factors might be New What factors might be
eliminated that the created that the
industry has taken for
Market industry has never
granted? Space offered?
What factors might be raised well beyond industry standards?
Raise
30. Product/Service Strategy
Describe how the design of your product/service
fulfills unmet marketplace needs
Differentiate your product/service from the
competition
Explain why and how customers will switch to
your product or service
Describe how you will defend your product or
service from competition
32. Pricing Strategy
Describe and justify your pricing
strategy
Provide evidence that your target
market will accept your price
Position your strategy relative to
current and potential competition
NOTE: Low price often (usually) is NOT
a good strategy for a startup!
33. Advertising/Promotion
Describe how you will communicate with
current and potential customers
Advertising
Public relations
Personal selling
Printed materials
Other means of promotion
Explain why this be strategy is most effective in
reaching your target market
Note: See Guerrilla Marketing
34. Distribution Strategy
Explain how you will deliver your product
or service to your customers
How will your customers acquire your product
or service
Describe and justify the distribution
channels you will use
Describe how you will gain access to your
planned distribution channels
35. Sales Strategy
Describe to whom you must sell your
product or service (not always obvious)
Explain how you will “sell”
An internal sales force
Manufacturer's representatives
Telephone solicitors
Describe how you will support your sales
effort
internal staff
service operations
36. Goals for Marketing Plan
Compelling “story” that there is a need in
the market
Need flows logically from industry analysis
Product/service designed to fulfill market
needs
Advertising, price, distribution, and sales
all flow logically, convincingly from
characteristics of the market
“WOW! What a great idea! I wish I had
thought of that…”
Notas del editor
Who has written a mission statement? Why does organization exist? What do differently? How create value?
What think?
Who has written a mission statement? Why does organization exist? What do differently? How create value?
"We love warehouses and trucks" distribution company CCG: "Fastest graphics in the world" Dudley Moore in Arthur "race cars, play tennis and chase women" Courtesy of Gary Bloomer Gets people excited
Direct & Indirect Related businesses Competitors Channel Goal: next 3 weeks: everyday, each team member talk to one Become experts on your customers Identify their needs: convenience, security, love, cost savings, ambition, approval, status
20 questions Modify as you go Internet: special issue Can't talk to directly Chat rooms On-line surveys