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MARKETINGYOURBUSINESSFORSUCCESS
WORKSHOPINTRODUCTION
MARKETINGYOURBUSINESSFORSUCCESS
WORKBOOK
TrainingModule-3
WorkshopObjectives
Bytheendofthisworkshop,youshouldbeableto:
*Determinethepurposeofthemarketingplan
-Identifystrategiesforconductingmarketresearch
-Identifyadvantagesofmarketresearch
*Determinewhatthemarketingplancontains
-Targetmarket
-Competition
-Product/service
-Marketingbudget
-Location
-Pricingstrategy
-Promotionalstrategy
*List
-advantagesofdevelopingamarketingplan
-disadvantagesofdevelopingamarketingplan
*Prepareamarketingplanoutline
*Developaneffectivemarketingstrategy
-Advertisingstrategy
-Promotionalstrategy
MARKETINGYOURBUSINESSFORSUCCESS-THEMARKETINGPLAN-
UNDERSTANDINGTHEMARKETPLACE
Marketingplaysavitalroleinsuccessfulbusinessventures.How
welltheplanyoudevelopmarketsyourbusiness,alongwiththe
managementandfinancialmanagementplans,willultimately
determineyourdegreeofsuccessorfailure.Thekeyelementsof
asuccessfulmarketingplanareto1)knowyourcustomers--
theirlikes,dislikesandexpectations,and2)toknowyour
competitors--theirstrengthsandweaknesses.Byidentifying
thesefactors,youcandevelopamarketingstrategythatwill
allowyoutoarouseandfulfillcustomersneeds,better
understandcompetitorsandidentifychangesinthemarketplace
thatcanaffectyourbottomline.
Thepurposeofthemarketingplanistodefineyourmarket,i.e.,
identifyyourcustomersandcompetitors,tooutlineastrategy
forattractingandkeepingcustomersandtoidentifyand
anticipatechange.Yourbusinesswillnotsucceedsimplybecause
youwantittosucceed.Ittakescarefulplanningandathorough
understandingofthemarketplacetodevelopastrategythatwill
ensuresuccess.
UnderstandingtheMarketplace
Generally,thefirstandmostimportantstepinunderstandingthe
marketistostudyitthroughmarketresearch.Inthecaseofa
franchise,thefranchisorhasdevelopedamarketingprogram,so
youwillneedtoreviewtheprogramheorshehasprovided.Look
overtheplantodeterminewhatproduct/serviceyouwilloffer
andwriteadescriptionofit.Eventhoughafranchisorhas
describedyourproductorservice,itisagoodideatodevelop
andwriteyourowndescriptionbecausethisprocesshelpsyouto
knowyourproductorservice--akeyvariableinanysuccessful
marketingplan.Whendescribingyourproductorserviceoutline
whatyoufeelareitsuniqueaspects,andexplainhoworwhy
theseaspectswillappealtocustomers.Emphasizethespecial
featuresthatyoufeelareitssellingpoints.Thesefeaturesare
whatyouwillusetoconvincecustomerstopurchaseyourproduct
orservice.
Nextgooversalesprojections,determiningifthereisademand
fortheproductorservice.Inthecaseofafranchise,the
franchisorwillhavedevelopedtheprojections.Studythisdata
toseehowheorshearrivedattheseprojections.Thiswillhelp
youtobetterunderstandhowthemarketplaceoperatesrelativeto
yourproduct/service,anditcanhelpyoudeveloptheskills
necessarytoidentifyandanticipatechangesinthemarketplace.
Startyourownfileonmarketplacetrends.Periodicallyreview
yourdata,lookingforshiftsinthemarket.Ifchangesare
occurring,youshouldmodifythemarketingplantocoincidewith
thesechanges.Infranchiseoperations,itiscustomaryforthe
franchisortoupdatethemarketingplanperiodicallytoreflect
changesinthemarketplaceandtokeepthemarketingprogram
current.
Amarketingplanshouldanswerthesequestions:
*Isthisproductorserviceinconstantdemand?
*Howmanycompetitorsprovidethesameproductorservice?
*Canyoucreateademandforyourserviceorproduct?
*Canyoueffectivelycompleteinprice,qualityand
delivery?
*Ifafranchise,willthefranchisorpricetheproductor
servicetogiveyoutheprojectedprofit?
Reviewyourprogramtoensurethatitanswersthesequestions.If
yourplandoesn'tanswerthequestions,itwillneedtobe
modified,oryouwillneedtodeviseastrategythatwillprovide
ameansforansweringthem.Whenyouaresatisfiedthatyou
understandtheprogram,howthemarketoperatesandhowto
identifymarketshiftsandtrends,startwritingthemarketing
sectionofyourbusinessplan.
Evenifyouadoptamarketingprogramthathasbeendeveloped
elsewhere,itisyourresponsibilitytopromoteyourproductor
servicebycultivatingthemarketplace,i.e.,attractingand
keepingcustomers.Youcanaccomplishthisaimbyknowingyour
market,yourcustomers,yourcompetitorsandyourproduct/
service.Don'trelysolelyontheprogramprovidedbya
franchisororothers,gatherandassessyourowndatausingthe
techniquesoutlinedinyourplan.Bygatheringandanalyzingthis
information,youwillbebetterabletodetermineifyourprogram
isinlinewithyourcompetitors,ifitisinlinewithindustry
averagesandwhatadjustmentsyoucanmaketoimproveyour
overallcompetitiveness.
Asample"MarketingPlan"isattachedaspartofAppendixI.
Studyitcarefully,thentrytodevelopasimilarprogramfor
yourbusinessplan.
MARKETRESEARCH
StrategiesforResearchingtheMarket
Researchingyourmarketisperhapstheeasiestwaytoassessit.
Marketresearchdoesnothavetobecostly,nordoesithaveto
beacomplexprocess.Itcanbeassimpleandaseasyas
surveyingacross-sectionofyourconsumers(focusgroup)toget
theiropinionsabouttheproductorserviceyouwillbeoffering,
orconductingatelephoneormailsurvey.Thedisadvantagesof
usingthetelephoneormailsurveymethodaretheindividualsyou
contactmaynotbeinterestedinrespondingtoasurvey.Other
marketresearchtechniquesincludeanalyzingdemographicdata,
suchaspopulationgrowth/declinerate;agerange,sex,
income/educationallevel;brainstormingwithfamilyandfriends,
focusgroupinterviews.Whatevermethodyouuse,yourfocus
shouldbeongatheringenoughinformationtodeterminewhoyour
potentialcustomersare--theirneeds,wantsandexpectations;if
thereisademandforyourproductorservice;whoyour
competitorsareandhowwelltheyaredoing.
Marketresearchshouldanswerquestionssuchas:
*Whoareyourcustomersandpotentialcustomers?
*Whatkindofpeoplearethey?
*Wheredotheylive?
*Canandwilltheybuytheproductorserviceyou're
offering?
*Areyouofferingthekindsofgoodsorservicestheywant
--atthebestplace,thebesttimeandbestamounts?
*Areyourpricesconsistentwithwhatthebuyersviewasthe
products'values?
*Areyouapplyingthepromotionalprogramsinawaythat
willbringaboutsuccess?
*Whatdocustomersthinkofyourfranchise?
*Whoareyourcompetitors?
*Ifafranchise,howdoesyouroperationcomparewiththe
competition?
Whiletherearesomedisadvantagestomarketresearch--it'sa
costly,time-consumingprocess,buildsinbiasesthatdistort
information,ignoresanswersorletsarroganceorhostilitycut
offcommunicationsatsomepointinthemarketingprocess--the
advantages,however,outweighthedisadvantages.Don'tforego
thisprocessorstophalfwaybecauseyouarenotgettingthe
desiredresults.Thismaybeanindicationthatyouaregoing
intothewrongbusinessorthatthereisn'tamarketforyour
productorservice.Don'tbediscouraged.Yousimplymayneedto
modifyyouroriginalplan.
Afewofthebenefitsofmarketresearchareoutlinedbelow.
*Learningwhoyourcustomersareandwhattheywant.
*Learninghowtoreachyourcustomerandhowfrequentlyyou
shouldtrytocommunicatewiththem.
*Learningwhichappealsaremosteffectiveandwhichones
aren't.
*Learningtherelativesuccessesofdifferentmarketing
strategiesinrelationtotheirreturnoninvestment.
Whilemarketresearchmayappeartobeatedious,time-consuming
process,itisnecessaryifyouwanttobesuccessful.Thinkof
marketresearchassimplyamethodoffindingoutwhatcatches
customers'attentionbyobservingtheiractionsanddrawing
conclusionsfromwhatyouseeandasanorganizedwayoffinding
objectiveanswerstoquestionseverybusinessownerandmanager
mustanswerinordertosucceed.Marketresearchfocusesand
organizesmarketinginformation,ensuringthatitistimelyand
thatitprovideswhatyouneedto:
*reducebusinessrisks,
*spotproblemsandpotentialproblemsinyourcurrent
market,
*identifyandprofitfromsalesopportunities,and
*getbasicfactsaboutyourmarketstohelpyoumakebetter
decisionsandsetupplansofaction.
Ifviewedfromthisstandpoint,marketresearchisaninvaluable
toolthatcansaveyoutime,effortandmoney.
_________________________________________________________________
SELF-PACEDACTIVITY
Duringthisactivityyouwillanswerthefollowingquestions:
*Doyouhaveamarketingplan?Yes___No___
*Ifyes,whichelementsdescribedinpages1-5didyouNOT
include?
*Haveyouconductedanymarketingresearch?
*Ifyes,howandwhatmethodsdidyouuse?
*Ifno,why?
MARKETINGYOURBUSINESSFORSUCCESS-WHATDOESAMARKETINGPLANCONTAIN?
Manyfirst-timebusinessownersthinkthatbysimplyplacingan
adinalocalnewspaperoracommercialonaradioora
televisionstation,customerswillautomaticallyflockto
purchasetheirproductorservice.Thisistruetoacertain
extent.Somepeoplearelikelytolearnaboutyourproductor
serviceandtryit,justoutofcuriosity.Buthundreds,even
thousands,ofotherpotentialcustomersmayneverlearnofyour
business.Justthinkofthemoneyyou'lllose,simplybecauseyou
didn'tdevelopanadequatemarketingprogram!
Marketingisanessentialpartofbusinessoperations.And,it
oftentimesdetermineshowsuccessfulyourbusinesswillbe.What
youasapotentialbusinessownermustdoismaintainathorough
understandingofthemarketingprogram,anduseittoextract
advantagesfromthemarketplace.Gooverthestrategiesand
techniquesuntilyouunderstandhowtoapplythemtogetthe
resultsyoudesire.Remember,youraimisnotonlytoattractand
keepasteadygroupofloyalcustomers,butalsotoexpandyour
customerbasebyidentifyingandattracting,newcustomersandto
reducerisksbyanticipatingmarketshiftsthatcanaffectyour
bottomline.
Tohelpyouaccomplishthisaim,yourmarketingplanshould
includestrategiestypicalofanymarketingplan.Theplanshould
especiallyincludewhatmarketeersdubasthe4P'sofMarketing
(PRODUCT/SERVICE,PRICE,PLACEANDPROMOTION).Reviewyourplan.
Makecertainitcontainsthestrategieslistedbelow,then
determinehowthesestrategiesareapplied.Includeabrief
explanationforeachstrategy.
*Describethetargetmarketby
-age
-sex
-profession/career
-incomelevel
-educationallevel
-residence
Identifyanddescribeyourcustomers(targetmarket)bytheir
age,sex,income/educationallevels,profession/careerand
residence.Knowyourcustomersbetterthanyouknowanyone--their
likes,dislikes,expectations.Sinceyouwillhavelimited
resourcestargetonlythosecustomerswhoaremorelikelyto
purchaseyourproductorservice.Asyourfranchisegrowsand
yourcustomerbaseexpands,then,youmayneedtoconsider
modifyingthissectionofthemarketingplantoincludeother
customers.
*IdentifyCompetition
-marketresearchdata
-demandforproductorservice
-nearestdirectandindirectcompetitors
-strengthsandweaknessesofcompetitors
-assessmentofhowcompetitorsbusinessesaredoing
-descriptionoftheuniquefeaturesofyourproductor
service
-similaritiesanddissimilaritiesbetweenyourproduct
orserviceandcompetitor's
-pricingstrategyforandcomparisonofyoursandthe
competition's
Identifythefivenearestdirectcompetitorsandtheindirect
competitors.Startafileoneachidentifyingtheirweaknesses
andstrengths.Keepfilesontheiradvertisingandpromotional
materialsandtheirpricingstrategies.Reviewthesefiles
periodicallydeterminingwhenandhowoftentheyadvertise,
sponsorpromotionsandoffersales.
*DescribeProduct/Service
-describeyourproductorservice
Trytodescribethebenefitsofyourgoodsorservicesfromyour
customer'sperspective.Emphasizeitsspecialfeatures--i.e.,the
sellingpoints.Successfulbusinessownersknoworatleasthave
anideaofwhattheircustomerswhatorexpectfromthem.This
typeofanticipationcanbehelpfulinbuildingcustomer
satisfactionandloyalty.
*DevelopMarketingBudget
-advertisingandpromotionalplan
-costsallocatedforadvertisingandpromotions
-advertisingandpromotionalmaterials
-listofadvertisingmediatobeused
Operatinganeffectivemarketingplanrequiresmoney,soyouwill
havetoallocatefundsfromyouroperatingbudgettocover
advertising,promotionalandallothercostsassociatedwith
marketing.Developamarketingbudgetbasedonthecostforthe
mediayouwilluse,andthecostforcollectingresearchdataand
monitoringshiftsinthemarketplace.
*DescribeLocation(Place)
-descriptionofthelocation
-advantagesanddisadvantagesoflocation
Again,trytodescribethelocationofyourbusinessfromyour
customer'sperspective.Describeitsassets--i.e.,the
convenience,whetherornotpublictransportationisaccessible,
thesafetyaspects--streetlighting,welllitparkinglotor
facility,decor,etc.Yourlocationshouldbebuiltaroundyour
customers,itshouldbeaccessibleandshouldprovideasenseof
security.Anadvantageofpurchasingafranchiseisthe
franchisoroftentimesassistinsiteselectionanddecorating.
*DevelopPricingstrategy
-pricingtechniquesandbriefdescriptionofthese
techniques
-retailcostingandpricing
-competitiveposition
-pricingbelowcompetition
-pricingabovecompetition
-pricelining
-multiplepricing
-servicecostsandpricing(forservicebusinesses
only)
-servicecomponents
-materialcosts
-laborcosts
-overheadcosts
Althoughyourpricingstrategymaybebasedonthestrategy
devisedbyothers,youshouldstudythisplanandthestrategies
usedbycompetitors.Thatwayyouwillacquireathorough
understandingofhowtopriceyourproductorservice,andyou
candetermineifyourpricesareinlinewithcompetitors,if
theyareinlinewithindustryaveragesandwhatadjustmentsyou
canmaketobringtheminline.
Thekeytosuccessistohaveanwell-plannedstrategy,to
establishyourpoliciesandtoconstantlymonitorpricesand
operatingcoststoensureprofits.Keepabreastofchangesinthe
marketplacebecausethesechangescanaffectyourbottomline.
*DevelopaneffectivePromotionalStrategy
-advertisingmedia
-printmedia(newspaper,magazine,classifiedads,
YellowPagesadvertising,brochure)
-radio
-television
-networking
-businesscards
-teeshirts,hats,buttons,pens
Developapromotionalstrategythatusesvariousmediafor
promotingyourbusiness.Monitorthedifferentmediaidentifying
thosethatmosteffectivelypromoteyourbusiness.Concentrateon
developingmaterialfortheseformatsthatclearlyidentifies
yourgoodsorservices,itslocationandprice.
Sincefinancialinstitutionsweighthesoundnessofyour
marketingplanwhendecidingwhetheryourbusinessisagoodrisk
fortheirmoney,itisimportantthatyouprepareandpresent
crediblemarketdatathatshowsthereisaneedinthecommunity
foryourbusinessandthatdemonstratesyourabilitytocompete
successfully.
_________________________________________________________________
SELF-PACEDACTIVITY
Duringthisactivityyouwill:
*Makeanoutlineoftheinformationamarketingplan
shouldcontain.
MARKETINGYOURBUSINESSFORSUCCESS-THEMARKETINGPLAN:ITSADVANTAGES
ANDDISADVANTAGES
Awell-written,comprehensivemarketingplanisthefocalpoint
ofallbusinessventuresbecauseitdescribeshowyouplanto
attractandretaincustomers--themostcrucialaspectofa
business.Andwhyarecustomerssoimportant?Theansweris
simple.Theyultimatelyarethemeansbywhichyouwillgenerate
theincomeneededfordailyoperations,torepaydebtsandto
turnaprofit.Inessence,thecustomersareyourlifelineand
themarketingplanisthepipelinethatallowsyouaccesstothem
--i.e.,tofulfilltheirneedsandexpectations.
Themarketingplanisessentialtoanysuccessfulbusiness.Itis
theheartofthebusiness,thebasisfromwhichallother
operationalandmanagementplansarederived.Marketingoffers
youawealthofinformationthatifappliedcorrectlyvirtually
canensureyoursuccess.
Therefore,itisimportantthatyou,asafirst-timebusiness
owner,developacomprehensive,effectivemarketingplan.Ifyou
needassistanceinaccomplishingthistask,contactyourlocal
SBAoffice.Consultthelocaltelephonedirectoryunder"U.S.
Government"forthetelephonenumberandaddressoftheoffice
nearestyou.
Advantages/DisadvantagesofDevelopingaMarketingPlan
Aneffectivemarketingplanwillcertainlyboostyoursalesand
increaseyourprofitmargins,whichisthegoalofeverybusiness
owner.Itisamilepostdowntheroadtosuccessand,assuch,
careandtimeshouldbeputintoitsdevelopment.Youmustbe
abletoconvincecustomersthatyouhavethebestproductor
serviceforthematthebestpossibleprice.Ifyoucannot
convincepotentialcustomersofthis,thenyouarewastingyour
timeandmoney.Thisiswherethemarketingplancomesintoplay,
andthisiswhyitissoimportant.
Therearenumerousadvantagesyoucanextractfromthe
marketplaceifyouknowhow.Andthemarketingplanisan
excellenttoolforidentifyinganddevelopingstrategiesfor
extractingtheseadvantages.
Afewoftheadvantagesareoutlinedbelow.Theplan:
*identifiesneedsandwantsofconsumers
*determinesdemandforproductorservice
*aidsindesignofproducts/servicesthatfulfill
consumersneeds
*outlinesmeasuresforgeneratingthecashfordaily
operation,torepaydebtsandtoturnaprofit
*identifiescompetitorsandanalyzesyourfirm's
competitiveadvantage
*identifiesnewproduct/serviceareas
*identifiesnewand/orpotentialcustomers
*allowsfortesttoseeifstrategiesaregivingthe
desiredresults.
Someofthedisadvantagesofthemarketplanare:
*identifiesweaknessesinyourbusinessskills
*leadstofaultymarketingdecisionsbasedon
improperlyanalyzeddata
*createsunrealisticfinancialprojectionsif
informationisinterpretedincorrectly
*identifiesweaknessesinyouroverallbusinessplan
Themarketingplanoffersnumerousadvantages;however,asyou
cansee,therecanbedrawbacks.Remember,however,the
advantagesoutweighthedrawbacks,soseekprofessional
assistancewhenyouaredevelopingthemarketingsectionofyour
businessplan.Itwillbeworththeinvestment.
__________________________________________________________________
SELF-PACEDACTIVITY
Duringthisactivityyouwill:
*Identifyandlisttheadvantagesanddisadvantagesof
developingamarketingplan.
MARKETINGYOURBUSINESSFORSUCCESS-OUTLINEFORAMARKETINGPLAN
ElementsofaMarketingPlan
I.DescriptionoftheTargetMarket
-age
-sex
-profession
-incomelevel
-educationallevel
-residence
II.DescriptionofCompetitors
-marketresearchdata
-demandforproductorservice
-nearestdirectandindirectcompetitors
-strengthsandweaknessesofcompetitors
-assessmentofhowcompetitorsbusinessesaredoing
-descriptionoftheuniquefeaturesofyourproduct
orservice
-similaritiesanddissimilaritiesbetweenyour
productorserviceandcompetitors
III.DescriptionofProductorService
-describeyourproductorservice
-emphasizespecialfeatures,i.e.,thesellingpoints
IV.MarketingBudget
-advertisingandpromotionalplan
-costsallocatedforadvertisingandpromotions
-advertisingandpromotionalmaterials
-listofadvertisingmediatobeusedandanestimate
ofcostforeachmedium
V.DescriptionofLocation
-descriptionofthelocation
-advantagesanddisadvantagesoflocation
VI.PricingStrategy
-pricingtechniquesandbriefdescriptionofthese
techniques
-retailcostingandpricing
-competitiveposition
-pricingbelowcompetition
-pricingabovethecompetition
-pricelining
-multiplepricing(forservicebusinessesonly)
-servicecomponents
-materialcosts
-laborcosts
-overheadcosts
MARKETINGYOURBUSINESSFORSUCCESS-DEVELOPINGANEFFECTIVE
MARKETINGSTRATEGY
Anadvantageofpurchasingafranchiseisthatthemarketingplan
isprovidedbythefranchisor.Whilethissavesyouthetimeand
energyittakesputtingtogetheramarketingprogram,itdoesn't,
however,ensurethatyouwillattractcustomerstoyour
franchise.Howwellyouradvertisementsandpromotionsdraw
customerswillultimatelydeterminehoweffectiveyourmarketing
strategyis.
Whileareputablefranchisorwillnotsellyouafranchiseina
territorywherethereisnotamarket,orwherethemarketis
declining,itisyourresponsibilitytocultivateyourdesignated
market.Whetheryouareindependentorafranchise,oneofthe
easiestwaystodothisisthroughadvertisingandpromotions.
Remembertheaimoftheadvertisingandpromotionalstrategyis
tocreateawarenessofyourproductorservice,toarouse
customers'needsandexpectationstothepointofconsumptionand
tocreatealoyalstreamofsatisfiedcustomerswhocontinueto
patronizeyourbusiness.
EffectiveAdvertisingandPromotionsTechniques
Perhaps,thefirststepindevelopinganeffectiveadvertising
andpromotionalstrategyistounderstandthedifferencebetween
thetwoconcepts.Mostpeoplethinkthatadvertisingand
promotionsareoneinthesame;thereis,however,adistinction
betweenthetwo.Whilebothadvertisingandpromotionsusethe
differentmediaformats--print,radioandtelevision--asawayof
conveyingamessage,promotionencompassesmuchmore.Itisthe
methodofadvertisingandcanentailcommunityinvolvement.This
couldmeansponsoringaBoyorGirlScouttroop,allowingnon-
profitorganizationstouseyourfacility,suchas,lettingthe
highschooldramaclubuseyourparkinglotforacarwashfund
raiser,sendinganunderprivilegedchildtodaycampor
involvementinanytypeofpositivecommunityactivitythatwill
bringattentiontoyourbusiness.
Whileadvertisingisawayofkeepingyourbusinessisthe
public'seye,promotionsareawayofsignalingthatyouare
concernedandcommittedtothewelfareofthecommunityandits
residents.Thiscommitmentmaybeoneofthemosteffective
techniquesforbuildingcustomerloyalty.Peopletendtobemore
supportiveofbusinessesandorganizationsthatgivesomethingto
thecommunityratherthanthosethatjusttakefromthe
community,nevergivinganythinginreturn.
Now,let'slookathowtodevelopaneffectiveadvertising
programandpromotionalprogramforyourbusiness.
TheKeytoaSuccessfulAdvertisingandPromotionalPlan
Advertising
Advertisingplaysanimportantroleinsuccessfulbusiness
ventures.Itentailsidentifyingandselectingthemediathat
providethegreatestamountofexposureforyourbusinessand
developingeffective,yetappropriatematerialsforeachmedium.
Itismorethanrunninganadinalocalnewspaper,onaradioor
televisionstationorjustsimplyhangingasignoutsideyour
businessandwaitingforthecustomerstopurchaseyourproduct
orservice.Itrequiresthatyouknowyourproductorservice--
thatis,thesellingpoints--andthatyoudevelopliterature
thatcanarousethecustomers'consciousnesslevelstothepoint
thattheyarecuriousenoughtoinvestigateit,andthenraises
theirneedordesirelevelstothepointthattheyarewillingto
purchaseit.
Advertisingkeepsyourproductorserviceinthepublic'seyeby
creatingasenseofawareness.Yetthisawarenessalonewillnot
ensurethesuccessofyourbusiness.Thus,advertisingnotonly
hastobeeffective,italsohastobeacontinuousprocess.
Whendevelopinganeffectiveadvertisingstrategyfora
franchise,reviewthenationaladvertisingmaterialsthe
franchisorhasdevelopedanddetermineiftheycanbeapplied
regionallyorlocally.Iftheycan,selectthemediathatwill
providethegreatestamountofexposureandthemosteffective
meansforpromotingyourfranchise.Ifthenationalmaterialsare
inappropriate,youmayneedtomodifyordevelopyourown
materials.Remember,however,thatyoumayhavetogetthe
franchisor'sapprovaltousethesematerials.Asacourtesy,
regardlessoftheadvertisingpoliciesinthefranchise
agreement,allowthefranchisortoreviewthesematerials.
Onceyouaresatisfiedwiththeadvertisingmaterials,selectthe
mediathatwillbestmarketyourbusiness.Sinceadvertisingcan
becostly,trytouseamediumthatiscosteffective,yetwill
effectivelymarketyourbusiness.Ifthisisnotpossible,then
bepreparedtospendwhatisnecessarytopromoteyourbusiness
effectively--theoutcomewillbeworththeinvestment.
Itmaybeagoodideatomixthedifferentmediaformatsthat
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