Marketing Plan Business Plan

Business plan software is something that often gets overlooked and is not considered to be a necessity for some reason. In my opinion, business plan software is essential, it is not a luxury. I am a huge advocate of business planning. When people ask me if they need a business plan, my response is, “Absolutely!” You see, starting a business without a business plan is akin to starting college without a degree plan. If you don’t know where you are going, you will not know how to get there. You will waste your time and your money if you are not following a plan. It’s really that simple! XXBR2 So, you know you need a business plan, but what about business plan software? For business planning, there are really three alternatives: 1) crafting your own business plan from scratch; 2) hiring a business plan writer or business planning consultant; or 3) using business plan software to write your own business plan. Each of these alternatives has its own advantages and disadvantages. XXBR2 Writing your own business plan from scratch is certainly a possibility. Doing so gives you the freedom to format and arrange the plan in any way that you see fit. On the other hand, doing financial projections, which are necessary for the purpose of budgeting and financial planning, can be difficult to do without a business plan program, or at least financial projection software or spreadsheets. XXBR2 Hiring a business plan writer makes sense for some people. A business plan writer is generally well-versed in business planning and will have insight that will assist you in preparing a comprehensive business plan that takes everything into account. The disadvantages to having your business plan professionally written are the expense associated with the initial plan, and the limitations that exist in regard to changing it as your business evolves, which is something that business plan software empowers you to do. XXBR2 Business plan software is relatively inexpensive when compared to hiring a professional business plan writer or consultant. However, when compared to doing your own plan from scratch, it may seem like an unnecessary expense. Business plan software does have many advantages. A good business plan software package, like Business Plan Pro by Palo Alto, has the headings and categories for a business plan already set up for you. It also has guidance throughout the business planning process that explains what to include in each part of your business plan. XXBR2 What I really love about Business Plan Pro is that it is so easy to do financial projections using the business plan software, whether or not you understand accounting. The main financial sections include a section for start-up costs, one for income projections, one for a proforma balance sheet, and one for a projected cash flow statement. Information that input into one of the financial forms automatically transfers calculations to the other financial statement forms making the process of projecting your financial plan a breeze. XXBR2 Another huge advantage I see in regard to business plan software is that when you use business plan software to create your own business plan, you can make changes to it anytime you need to. It doesn’t become a stale document that sits on the shelf and collects dust. A business plan should be always evolving. You should update your business plan frequently including new goals, objectives and milestones. You should also adjust your financial projections regularly for the purpose of budgeting. Business plan software makes it easy to do. XXBR2 If you choose not to use business software, and to create your own business plan from scratch, you will need some guidance unless you are a professional business planner yourself. The Small Business Administration at sba.gov has some excellent resources and guides about business planning. If you choose to hire a professional business plan writer, do review their qualifications and references and make certain that you understand exactly what is included in the business planning services they are offering. XXBR2


Definition Of Business Management

Definition of business has changed a lot during past few years. It has already come out from the conventional barrier of board room or conference room. Seminars are replaced with business networking event. People prefer to making good and honest rapport with each other instead of trying to convince each other about certain business deal.Discussing about choices or exchanging critical views in casual manner is more acceptable in comparison with serious statements on some products or services. This is a fact that such serious kind of statements is nothing much but some theatrical information. People prepare them to show their talent or may be not to feel embarrassed in front of other people of the same trade. It does not bring out the exact potentiality of an individual whereas any discussion on any casual topic in a very unfamiliar manner can be more effective. This can bring out the core knowledge and analytical power of a person. XXBR2 Business networking event in the conventional manner makes a person more confided. It brings a number of rules and regulations along with the very concept. A person even can feel a little bit of uncomfortable while presenting his or her own thoughts in front of so many collar-suited people. Specifically for a fresher this can be a very tough time. On the contrary, casual business networking events in this era is not so formal in kind. One can discuss about their specific trade while taking a sip of beer and there is no need to wear an ironed suit or a tie. Rather jeans can bring out more in-depth knowledge while analyzing some issue. XXBR2 People prepare them before attending such event with critical and theoretical knowledge in the conventional definition of it. They take some time to know more about certain core business factors to avoid many embarrassing situations. Even they try to give best impression on the tycoons of the industry for future prospect and this is the reason why they mug up some bookish knowledge. When a member of such a group gets the invitation of attending an event, the person starts to prepare that may be for knowledgeable level or may be for formal outfit. Whatever the reason may be but they feel the requirement of preparation before attending such an event. This is quite understandable also. Not only that, but there are a huge number of business networking organizations that are entitled to arrange such events. XXBR2 Business networking event has some kind of norms to maintain the conventional way. There are certain rules and regulation that has to be maintained. For an instance, an invitee must reach the place a little earlier with proper and formal dress. Some etiquette are very important to maintain as there are some people who run the business world and it is not a good thing to give a very causal impression for future prospect. Polite and soft spoken are two other criteria for attending such an event. This shows the seriousness of an individual according to the conventional manner. XXBR2


Business To Business Marketing Ideas

Good for you, you have decided to open up a home business. Who knew that you could actually get it started and that you would be able to follow through with it well you have! Give yourself a pat on the back, and take a breather. But only a quick one, because one you have started up a home business, the hard part isn’t any place near finished. XXBR2 As soon as you have started up your home business, you need to begin to market it. This is something that you might not have even thought of, but it is something that needs to be done right away because this is where you’re going to get your key clients from. Remember that this isn’t as hard as you might think it is. XXBR2 In fact, marketing your home business can be a snap, if you follow some key ideas. You need to determine whoever your key audience is. Happen to be going to be marketing to kids, to adults, or to another age bracket? Happen to be going to market more to men or women or both? Could there be anything else about your clientele that separates them from the world at large? XXBR2 Once you have decided whoever you’re going to be targeting, you can begin to market. There are several ways to do this. If your business is based in a big city or somewhere that has a lot of traffic, you can do other kinds or marketing like flyers, signs, and other print media. XXBR2 However, if you’re running a business that is mostly online, and you hope that most of your clients will come from the internet, there are several things that you should do to make sure that marketing is a success. Firstly, you should place adds on web pages that you know will get seen by your key demographic. Find some popular sites for the group of people that you have to target and try to get some advertising on those sites. XXBR2 Also look for pages that everyone will see, and try to get as many links out there as possible that have your name and your businesses name on them. You are also going to want to make sure that you’re posting blogs and other articles all over the web that somehow relate back to you. XXBR2 Get your name out there, do some surfing of your own. If you’re in a certain type of business, go to some boards that deal with that business, and post on them with your web address in your signature. The more advertising that you can do, the more people are going to see your website and hopefully click on the link to visit your page. XXBR2 Advertising your home base web business isn’t as hard as it sounds. As a matter of fact, more and more savvy methods of advertising are cropping up that help entrepreneurs to not only get the word out about their home base web business, but to provide useful services to the community while doing so. Sure, in the early days of web marketing it was customary to design banner ads that were full of neon colors and moving characters. XXBR2 Webmasters soon discovered that customers did not appreciate this type of advertising and soon eliminated much of it from their pages. This left those with a home base web business scrambling for new solutions. During times when banner ads are still around, they have undergone a great change. XXBR2 They are now tastefully designed with an eye to wittiness rather than shock value. Additionally, generous affiliate programs ensure that many webmasters are once again working hard to spread the word of a home base web business that is willing to share a bit of the profit. XXBR2 Yet there are also other modes of advertising your home base web business within your own community. As an example, if you own a doggie biscuit business that relies on web orders, why not pass out fliers in your community with the web address? Additionally, you will be able to attend pet shows and spread the word there. XXBR2 Print ads in major dog fancier magazines will target an audience most likely to purchase your product, while sponsorship of local events such as toy drives during the holidays will not only benefit your community but also your business! If you have a family that is very supportive of your efforts, you may even get the kids involved a little dress up fun in a nice costume is a definite perk handing out samples of your doggie biscuits. XXBR2


Marketing Plan Marketing Mix

Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing affects all individuals, all organizations, all industries, and all countries. (Kerin, 2006, p.22) In this paper I will explain the value of three pieces of marketing research, the components of marketing mix for Kudler new catering service, far as their product, place, price, and promotions. I will also explain how Kudler should determine the products it wants to offer and how they will determine how they will price their products to be relative to other catering companies. I will also explain what term place means, how Kudler will go about promoting their catering service and describe how technology will be used by Kudler in their market, lastly I will explain if Kudler decide to go with catering how that mesh with their decision to contract with organic growers. XXBR2 Marketing research is an important part of understanding the market and where there is a need for a service. The product and service will have to be targeted to the right people who are in need of the service. The three pieces of market research allow you to specify, identify, and determine the current market. The three pieces of market research are: Specifying Constraints- The constraints in a decision are the restrictions placed on potential solutions to a problem. Identifying data needed for marketing action- Often marketing research studies wind up collecting a lot of that are interesting but irrelevant for marketing decisions that result into marketing actions. The data should be able to provide manager with information that allows them to make clear choice of action to take for their product. Determine how to collect data- Determining how to collect useful marketing research data is often as important as actually collecting the data. The two key elements in deciding how to collect data are concept and method. Concepts are ideas about a product or service. To find out about consumer reaction to a potential new product, marketing researchers frequently developed a new product concept, that is, a picture or verbal description of a product or service the firm might offer for sale. Methods are the approaches that can be used to collect to solve all or part of a problem.” (Kerin, 2006, p.22) XXBR2 Kudler has a new idea of starting a catering service but before they can start they will have to research the market to determine the right course of action. Kudler will have to define the marketing problem and the opportunity for increased customer satisfaction. The company will have to develop an organized plan to determine the effectiveness of their decision. People today are looking to eat healthier and stay in shape. Consumers have become interest in the quality of their health with today’s 54 percent of Americans is considered overweight. ( http://www.fit4free.org/musdevArticle.htm) As people begin to look into other foods the diet of many consumers are now change to foods that are healthier such as organic. This type of change in consumer’s diet has allowed companies like Kudler to provide these several kinds of food options. Before starting the catering service Kudler had decide to contract with local farmers for organic produce. The organic and gourmet food market in the United State has soured through the sky. There are more cooking show and more people cooking healthy than ever before. With this type of increasing market Kudler can began to advertise and market their organic product to their consumers. As organic continue to gain popularity with consumers the sales potential will continue to increase. XXBR2 To ensure that their decision will be the best action to take for Kudler, the company will have to do research were they provide an atmosphere for customers to try their products and receive feed back. One method that Kudler could use is allowing customers to try their organic produce for free by providing samples. This can give Kudler a chance to introduce their new product and service to gain more customer loyalty. Customer loyalty is what drives a business to be successful, when customers are satisfy they return because of the product and service. Kudler will need to decide what food item and recipes will be their main attraction. The way that Kudler can determine their most popular products is by using there inventory process to track what items are being purchased frequently and more than others. According to what customers are buying, by tracking items in their inventory will tell them what products are doing well and the ones that are not, with this information Kudlers is able to determine what items would be put on their menu to entice customers. XXBR2 The way that Kudler can determine its price is by knowing the community, competition, the cost of start-up, employees and preparation of meals. Unfortunately, with the quality of product that Kudler is providing the price for their food will be higher than their competition, but if Kudler can appeal to customers about their great quality and began to build loyal customers then they will pay the price because of the great quality. To be competitive in the market Kudler must be aware of the competition and the items and prices of their products and services. One of Kudler’s successful strategies is the focus on customer needs; these needs are met by offering an open menu with possible adjustments based on customer requests. With no set menu Kudler will be competitive in the market because they will cater specifically to each customer’s needs and their willingness to alter their menu keeps customers happy and coming back for future services. As a part of Kudler’s advertising strategy they need to focus on the customer satisfaction aspect and the openness to meeting and exceeding the customer requests received. XXBR2 Promotion is the key to starting a new business and the right decisions must be made to be successful. Promoting communicate messages to potential customers and clients. Kudler already has a clientele base of customers due to their existing business that willcost them little to no money to advertise to them. With the use of existing customers Kudler will be able to get word out that they have started their catering business. When customers are satisfied with a service or product they will not only come back but began to recommend the services to their friends or anyone they come in contact with. Finding out the needs of potential customers and adding this key message to advertising will draw business. For specific forms of promotion Kudler should use newspapers, in-store fliers, direct mailers to current loyal customers, and advertising over the intercom at each store location. Technology will allow Kudler to be more efficiency, cut cost and labor. Kudler right now is not using technology to its full potential but as business begin to increase this will become important as the business grows and the clientele grows to an unmanageable amount. Organic growers will mesh well with the catering service because of the increasing interest in organic foods. XXBR2 As Kudler continue to grow they must remember that the most important thing is to continue to satisfy their customers and meeting their needs. As the business grows they will need to upgrade on technology to cut down cost and labor to be more efficient. Kudler can also utilize their existing customer base to advertise their product as well, as customers continue to love the services offered the existing customers will recommend the services to their friends and so on. Marketing is essential for success, research and planning must be done in order to know what course of action to take. After the implementation phase Kudler can review and look back to see what results were achieved and were the processes was most beneficial for the company overall. XXBR2 References XXBR2 Kerin, R.A., Hartley, S.W., Berkowitz, E.N., Rudelius, W. (2006) Marketing. [University XXBR1 Of Phoenix Custom Edition e-Text].New York: The McGraw-Hill Companies. XXBR1 Kudler Intranet. (2005). July 5, 2008, from XXBR1 https://ecampus.phoenix.edu/secure/aapd/CIST/VOP/Business/Kudler/KudlerHome002.htm XXBR1 Gomez-Mejia, L.R. & Balkin, D. B. (2002) Management [University of Phoenix XXBR1 Custom Edition e-Text] New York: The McGraw-Hill Companies XXBR2