In unit 2 – concept development – you completed market research to identify potential customers and build your business profile.
The information you discovered in unit 2 will assist you in developing your own marketing plan.
As an entrepreneur, you think there are many potential customers out there. This unit help you develop a strategy to market your product or service to your customers.
What You Will Learn
This module is divided into the following sections:
After reviewing this module you should be able to:
- Understand the importance of marketing to your business success.
- Define your marketing objectives.
- Describe your product or service.
- Describe the marketing tools you will use to promote your product or service.
- Describe the methods of distribution you will use to get your product or service to your market.
- Determine the costs of producing your product or service.
- Determine your minimum selling price.
- Describe direct and indirect competitors.
- Prepare a list of marketing objectives.
- Outline your pricing strategy for your product or service.
- Outline your distribution strategy for your business.
- Describe any value added service you will offer to your customers.
- Develop a marketing and promotional plan for your business.