managment

Learning Outcome:

1.Utilize strong analytical skills and tools to formulate an effective Bootstrap Marketing Plan on which a small business can build a competitive edge in the market place. (Lo 1.8).

2.Deliver and communicate marketing massages in coherent and professional manner. (Lo 4.4).

Assignment Workload:

This assignment is an individual assignment.

Start-up Business Plan

Imagine you started a new business as an entrepreneur in Saudi Arabia (In Continuation to the Assignment -1).

Please, think and share information on the following items:

4. Marketing Plan

a. Market Research- Why? (1 Mark)

b. Market Research- How? Primary or Secondary Data? (1 Mark)

c. In your marketing plan, be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all‐important sales projection. (3 Marks)

Product

  • Describe the most important features. What is special about it?
  • Describe the benefits. That is, what will the product do for the customer?
  • Customer

  • Identify your targeted customers or your ideal customer: How many of them are there? It’s important here to be specific.
  • • Demographics

  • Customer relationships: How do customers want to interact with the business?
  • Competition

  • What products and companies will compete with you?
  • How will your products or services compare with the competition? Identify the organization’s competitors and their strategies, along with ways to counter competition and gain market share.
  • How is your target market solving their problem today? Are there alternatives or substitutes in the market?
  • Investors will want to know what advantages you have over the competition and how you plan on differentiating yourself.
  • Strategy

  • Outline a marketing Strategy.
  • Promotion

  • How will you promote your Product?
  • What will be your promotional budget?
  • Distribution Channels

  • How do you sell your products or services?
  • What are the costs associated with distribution?
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