Unit 4: Going To Market On Your Own

Introduction

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:

Section One: Defining Your Marketing Objectives

Section Two: Product Strategies

Section Three: Pricing Strategies

Section Four: Distribution Strategy

Section Five: Promotion

Learning Outcomes

After reviewing this module you should be able to:

1. Understand the importance of marketing to your business success.
2. Define your marketing objectives.
3. Describe your product or service.
4. Describe the marketing tools you will use to promote your product or service.
5. Describe the methods of distribution you will use to get your product or service to your market.
6. Determine the costs of producing your product or service.
7. Determine your minimum selling price.
8. Describe direct and indirect competitors.
9. Prepare a list of marketing objectives.
10. Outline your pricing strategy for your product or service.
11. Outline your distribution strategy for your business.
12. Describe any value added service you will offer to your customers.
13. Develop a marketing and promotional plan for your business.