Planning is the Key to Business through Advertisement

 

The Key Elements of Any Business Plan :

— Company Description

—  Management Team and Organization

—  Product &Services  Market and Competition

—  Marketing and Sales

—  Development and Production

—  Procurement and Logistics

—  Finance

Business philosophy:

—What is important to the business?

— Marketing target for Product?

—   target market?  Industry Relevance.

—  Growth industry?

—  Short term and long term Changes?

—  Company Advantages of Situation?

Customers is the core of any plan and hence Identify the target customer, their characteristics, and their geographic locations; i.e., demographics.

The description will be completely different depending on whether the plan to sell to other businesses or directly to consumers. Sales of a consumer product, through a channel of distributors, wholesalers and retailers, then important to carefully analyze both the end consumer and the middlemen businesses

There may be more than one customer group and hence Identify the most important groups. Then, for each consumer group, construct what is called a demographic profile: Age Gender Location Income level Social class/occupation Education and based on that advertisement has to be customized as we are targeting separately.

For business customers, the demographic factors might be: Industry (or portion of an industry) Location Size of firm Quality/technology/price preferences .After systematically analyzed the industry, the product, the customers and the competition, should have a strategic fit and niche what is unique to the company and the plan.

Competition What products and companies will compete with you? List the major competitors: Names & addresses Will they compete with in across the board, or just for certain products, certain customers, or in certain locations? Will there be important indirect competitors?

Advertising: How do we sell the product is best understood by the advertising strategy that has to be planned. What media, why, and how often? Why this mix and not some other? low cost methods to get the most out of the promotional budget? methods to be used other than paid advertising, such as trade shows, catalogs, dealer incentives, word of mouth (stimulation trigger), network of friends or professionals? What image to be projected? In addition to advertising, what plans do you have for graphic image support? This includes things like logo design and brand for the different buyer guide and catalogue, cards and letterhead, brochures, signage, and interior design. Fairs and public relation campaigns. Design in many form like leaflet and flyer design, pamphlet design. Digital Marketing and specially through Facebook/Digital banners is also very important and the sales and marketing presentation of product and also Repeat customer tracking and contact mechanism in Offline/Online Avenues.

Promotional Budget How much will you spend on the different promotional activities with the start up budget and the operational budget.

Proposed Location Analyze the location criteria as they will affect the customers. The convenience and competition based on that the location is key to footfall and sales thus can be used for further advertisement and display advertisement in these target geo locations.

Distribution Channels  Method of Sales of products/services? Retail Direct (mail order, web, catalog) Wholesaler, own sales force Agents Independent reps ,Bid on contracts

Sales Forecast Number crunching is important for sales forecast and  based upon historical sales, the marketing strategies, market research, and industry data.1) a “best guess”, which is optimistic  2) a “worst case” low estimate that is a pessimistic guess.

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