BUS131D_Lecture9_Handout.ppt

BUS131D_Lecture9_Handout.ppt - New Venture Marketing...

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New Venture Marketing Planning Dr. Michael Merz College of Business San Jose State University
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Dr. Michael Merz College of Business, San Jose State University 2 Today’s Agenda New Venture Planning Documents New Venture Marketing Planning Building a Guerrilla Marketing Plan Pinpointing Target Markets Determining Customer Needs and Wants Building a Guerrilla Marketing Strategy Creating a Marketing Mix
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Dr. Michael Merz College of Business, San Jose State University New Venture Planning Documents Business Plan A 25-35 page narrative that describes what a new venture plans to accomplish and how it plans to accomplish it. Marketing Plan is part of a business plan. Strategic Plan Discusses the new venture’s general long-term strategic direction. Differences between Planning Documents “The business plan takes as both its starting point and its objective the business itself. The marketing plan starts with the customer and works its way round to the business” (Sir George Bull, Chairman of Sainsbury). The strategic plan fits in between, laying out the broad strategies that will guide the strategic management of all divisions and functions over a 3-5 year planning horizon. 3
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Dr. Michael Merz College of Business, San Jose State University New Venture Marketing Planning New Venture Marketing Planning The structured process of researching and analyzing the market and situation and then developing marketing objectives, strategies, and plans that are appropriate for the new venture’s resources, competencies, and mission followed by implementation, evaluation, and adjustments as needed to achieve the objectives. New Venture Marketing Plan The outcome of this structured process. A document that summarizes marketplace knowledge and the marketing strategies and specific plans to be used in achieving the new venture’s marketing and financial objectives. 4
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Dr. Michael Merz College of Business, San Jose State University Building a Guerrilla Marketing Plan Use guerilla marketing strategies to compete with larger rivals. A Guerilla Marketing Plan:
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BUS131D_Lecture9_Handout.ppt - New Venture Marketing...

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