Commercial day, Dragons Den
Notes on Marketing
Preparing a Business Plan Part 5
It’s all about Marketing!
Now you are getting close to opening you business. Remember, you have $150,000 but you will probably need to obtain more money through financing. This is the last part of your business plan and then you will be ready to put it together.
Task One: 4 P’s
You are to create a chart describing the 4 P's for your company
Product (what do you sell)
Price (what is the price range)
Place (where can customers buy)
Promotion (how will you promote your brand)
Task Two: Marketing Strategies/Plan
Write a brief overview of your marketing plan. How will you advertise, where, when? What advertising strategies will you be using? The advice your marketing professional gave you will come in handy here.
Task Three: Create an Advertisement
You are to create a advertisement for your company: For this you may use the advertisement created for you by your Marketing professional or create your own. You may also choose to do both.
Task Four: Compare your competitions Marketing Plan
You are to find at least 5 advertisements from you direct competition. What is common with the ads? What advertisings strategies are they using? What are their strengths? What are their weaknesses? Can you ‘copy’ any of their advertising strategies? What have you learned from looking at your competitors?
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