Marketing Plan
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Marketing Plan

Hi. I wanted to talk to you just a little
bit about your marketing plan topics. The first thing to know about your
marketing plan topic is your marketing plan or your client, in this case, can be
a real business or a fictitious business. It can be an existing business that
you work for or one you might like to work for. Or it can be a business that
doesn’t exist something that you might like to open one day, or something
that you just think there is a need for. So it does not have to be a real
business. Ifyou do choose a real business, however (and you certainly may) let me give you a word of caution. For a real business you are not reporting on what that company currently has as their marketing plan You are writing, creating,
an original marketing plan. I had a I had a student in the summer who was going to do a marketing plan on her family’s restaurant. I thought “great.” she’ll come up with some new strategies. It will be helpful. she knows a lot about that restaurant business, and it’ll be a great experience. I really looked forward to
her marketing plan. However, when she presented it she was merely telling me
what the restaurant is already doing. That is not creative strategy. You are
spending time learning marketing so you can do original marketing thinking — not
report on what a business is already doing. So if it’s an existing business
you are creating original strategy. If it is an existing business I would
encourage you to not take a huge business. A lot of people want to do
Walmart or HEB or Nike and those are certainly successful companies. However –two words of caution –you are creating an original strategy so you
have to do things different than Walmart’s doing it; different than Nike
is doing it; different than HEB is doing. And that becomes a little hard to
manage because once you change it, it’s no longer the same business. Also
these huge businesses have very complex marketing plans. And while I’m not going
to stop you, the marketing plan for a nationwide business is beyond the scope
of what most students want to do. A marketing plan
for a single unit business, a business if it’s a retail business,one
location in one town, doesn’t have to be Waco is a great start for
marketing plan. Even Walmart, the biggest retail business in the world, started in Bentonville, Arkansas with just one store. So I
would encourage you to not have a huge business but something more manageable, an easier plan to write. Finally, if it is a fictitious business
this business could be something that you would like to start someday. It could
be something that you just know something about, something you’re
interested in. For instance I am a quilter. I could do a marketing plan for
a quilt shop and I would enjoy that. I’ve been to lots of quilting shops and I
could think of strategies that they might employ for product, price, place and promotion that would make what I think would be a really successful business, a
quilting business. So I never plan to open a quilt shop, but that is something
I know a bit about and would be of interest to me. If it’s something that
interests you, you’re more likely to enjoy the process and get into it and
enjoy it more and probably do better as well. If you have any questions about
your topic, please send me a message. I’d be glad to visit with you about
specifics or just generalities. So begin thinking because in unit 4 when we discuss chapters 4 and 5 I’m going to ask you to commit by giving me the topic
for your marketing plan. You have a great day. Bye-bye

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