-
Marketing Plan
-
Economics
- What is the total size of your market?
- What percent share of the market will you have?
- Current demand in target market
-
Trends in target market
- Growth trends
- trends in consumer preferences
- trends in product development
- Growth potential and opportunity for a business of your size
-
What barriers to entry do you face in entering this market with your new company?
-
High capital cost: (Yes/No)
- If yes, then what are they?
- What are strategies to overcome this barrier?
-
High production costs: (Yes/No)
- If yes, then what are they?
- What are strategies to overcome this barrier?
-
High marketing costs: (Yes/No)
- If yes, then what are they?
- What are strategies to overcome this barrier?
-
Consumer acceptance: (Yes/No)
- If yes, then what are they?
- What are strategies to overcome this barrier?
-
Brand recognition: (Yes/No)
- If yes, then what are the current brands?
- What are strategies to overcome this barrier?
-
Training and skills: (Yes/No)
- If yes, then what are they?
- What are strategies to overcome this barrier barrier?
-
Unique technology and patents: (Yes/No)
- If yes, then what are they?
- What are strategies to overcome this barrier?
-
Unions: (Yes/No)
- If yes, then what are they?
- What are the strategies to overcome this barrier?
-
Shipping costs: (Yes/No)
- If yes, then what are they?
- What are the strategies to overcome this barrier?
-
Tariff barriers and quotas: (Yes/No)
- If yes, then what are they?
- What are the strategies to overcome this barrier?
-
How could the following affect your company?
-
Change in technology
- Positive
- Negative
- What are strategies to overcome the potentail negative affects?
-
Change in government regulations
- Positive
- Negative
- What are strategies to overcome the potentail negative affects?
-
Change in the economy
- Positive
- Negative
- What are strategies to overcome the potentail negative affects?
-
Change in your industry
- Positive
- Negative
- What are strategies to overcome the potentail negative affects?
-
Products and Services
- Specifications
-
What factors will give you competitive edge?
- Quality?
- Unique?
- Proprietary features?
-
What are the ___?
- Costs
- Prices
- Fee
- Leasing structures
-
Customer Perspective
-
Features
- What is special about it?
- Advantages?
- Disadvantages?
-
Benefits
- What will the product do for the customer?
- Advantages?
- Disadvantages?
- What after-sale services will you give?
-
Target Customers
-
If retail...(be specific to your industry)
- Age
- Gender
- Location
- Income Level
- Social class
- Occupation
- Education
-
If business...(be specific to your industry)
- Industry (or portion of an industry)
- Location
- Size of firm
- Quality
- Technology
- Price preferences
-
Competition
- What products and companies will compete with you?
-
List your major competitors
- Names
- Addresses
-
Will they compete with you...?
-
Across the board: (Yes/No)
- If yes, what are their advantages?
- What strategies can you deploy to gain the advantage?
-
Just for certain products: (Yes/No)
- If yes, what products?
- What strategies are there to differentiate you?
-
Just for certain customers: (Yes/ No)
- If yes, what customers?
- What strategies are there to give you the advantage?
-
Just for certain locations: (Yes/ No)
- If yes, what locations?
- What strategies are there to give you the advantage?
-
How will you products or services compare with the competition?
-
Competitive Analysis table
- Factor
- Me
- Strength
- Weaknesses
- Competitor A
- Competitor B
- Importance to Customer
- Products
- Price
- Quality
- Selection
- Service
- Reliability
- Stability
- Expertise
- Company Reputation
- Location
- Appearance
- Sales Method
- Credit Policies
- Advertising
- Image
-
Niche
- What is it?
- Where is it in the market?
-
Strategy
-
Promotion
- How will you get the word out to customers?
-
Advertising
- What media?
- Why?
- How often?
- Why this mix?
- Identify low-cost methods to get the most out of your promotional budget?
-
What methods will you use other than paid advertising?
- trade shows
- If yes, which ones?
- Where are they?
- What is the cost?
- Catalogs
- If yes, which ones?
- Where are they circulated?
- What is the cost?
- dealer incentives
- If yes, which ones?
- Where are they?
- What is the cost?
- word of mouth
- If yes, how?
- Network of friends / professionals
- If yes, who?
- What image do you want to project?
- How do you want customers to see you?
-
What plans do you have for graphic image support?
- Logo design
- Cards
- Letterhead
- Brochures
- Signage
- Interior design
- Should you have a system to identify repeat customers and then systematically contact them?
-
Promotional Budget
- How much will you spend on the items listed above?
- Before startup?
- Ongoing?
-
Pricing
- Does your pricing strategy fit with what was revealed in your competitive analysis?
-
Compare your prices with those of the competition.
- Are they higher,lower, or the same?
- Why?
-
How important is price as a competitive factor?
- Do your intended customers really make their purchase decisions mostly on price?
- What will be your customer service and credit policies?
-
Proposed Location
-
Is your location important to your customers?
- If yes, how?
-
If customers come to your place of business:
- Is it convenient?
- Parking?
- Interior spaces?
- Not out of the way?
- is it consistent with your image?
- Is it what customers want and expect?
-
Where is the competition located?
- Is it better for you to be near them or distant?
-
Distribution Channels
-
How do you sell your products or services?
- Retail
- Direct
- Your own sales force
- Agents
- Independent representatives
- Bid on contracts
- Sales Forecast
-
Operational Plan
-
Production
-
How are your products or services produced?
- Production techniques and costs
- Quality control
- Customer service
- Inventory control
- Product development
-
Where are your products or services produced?
- Product development
- Inventory control
- Customer service
- Quality control
- Production techniques and costs
-
Location
- What qualities do you need in a location?
-
Physical requirements
- Amount of space?
- Type of building?
- Zoning?
- Power and other utilities
-
Access
- Is it important that your location be convenient to transportation or to suppliers?
- Do you need easy walk in access?
- What are your requirements for parking and proximity to freeway, airports, railroads, and shipping centers?
- Construction?
-
Cost
- Occupation expenses
- rent
- maintenance
- utilities
- insurance
- initial remodeling costs
- What will be your business hours?
-
Legal Environment
- Licensing and bonding requirements
- permits
- health, workplace, or environmental regulations
- Special regulations covering your industry or profession
- Zoning or building code requirements
- Insurance coverage
- Trademarks, copyrights, or patents
-
Personnnel
- Number of employees
- Type of labor
- Where and how will you find the right employees?
- Quality of existing staff
- Pay structure
- Training methods and requirements
- Who does which tasks?
- Do you have schedules and written procedures prepared?
- Have you drafted job descriptions for employees?
- For certain functions, will you use contract workers in addition to employees?
-
Inventory
-
What kind of inventory will you keep?
- Raw materials?
- Supplies?
- Finished goods?
- Average value in stock?
- Rate of turnover and how this compares to the industry averages?
- Seasonal buildups?
- Lead-time for ordering?
-
Suppliers
- Names and addresses
- Type and amount of inventory furnished
- Credit and delivery policies
- History and reliability
- Should you have more than one supplier for critical items?
- Do you expect shortages or short-term delivery problems?
-
Are supply costs steady or fluctuating?
- If fluctuating, how would you deal with changing costs?
-
Credit Policies
- Do you plan to sell on credit?
-
Do you really need to sell on credit?
- Is it customary in your industry and expected by your clientele?
- If yes, what policies will you have about who gets credit and how much?
- How will you check the creditworthiness of new applicants?
- What terms will you offer your customers; that is, how much credit and when is payment due?
- Will you offer prompt payment discounts?
- Do you know what it will cost you to extend credit?
- Have you built the costs into your prices?
-
Managing Your Accounts Receivables
-
Subtopic 1
-
Accounts Receivable Aging
- Subtopic 1
- Subtopic 2
- Subtopic 3
- Subtopic 4
- Subtopic 5
- Subtopic 6
-
Policies to deal with slow-paying customers
- When do you make a phone call?
- When do you send a letter?
- When do you get your attorney to threaten?
-
Managing Your Accounts Payable
- Do your proposed vendors offer prompt payment discounts?
-
Subtopic 2
-
Accounts Payable Aging
- Subtopic 1
- Subtopic 2
- Subtopic 3
- Subtopic 4
- Subtopic 5
- Subtopic 6
-
Management and Organization
- Who will manage the business on a day to day basis?
- What experience does that person bring to the business?
- What special or distinctive competencies?
- Is there a plan for continuation of the business if this person is lost or incapacitated?
-
Professional and Advisory Support
- Board of directors
- Management advisory board
- Attorney
- Accountant
- Insurance agent
- Banker
- Consultant or consultants
- Mentors and key advisors
-
Financial Plan
- Personal Financial Statement
- Startup Expenses and Capitalization
- 12-Month Profit and Loss Projection
- Four-Year Project Projection
- Projected Cash Flow
- Opening Day Balance Sheet
- Break-Even Analysis