Lecture notes
business development marketing plan
- Module
- Business development
- Institution
- Nottingham Trent University (NTU)
building a marketing plan
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Lecture 5 building a marketing planIdentifying the people we really want to communicate with and then listening to them
when we do.
Visible evidence of a marketing strategy - facebook marketing campaign. Facebook cafes
inside independent coffee shops for a period, will enable people to get free coffees if they
complete a ‘privacy check-up’. This is linked to the privacy scandal they had earlier this year.
They have taken that was negative for marketing.
Marketing strategy and plan is part of the larger business plan.
Marketing - the development and use of strategies for getting a product or service to a
customer and generating interest.
● The process of creating and delivering desired goods and services to customers.
, ● Involves all of the activities associated with winning and retaining loyal customers.
A solid business plan needs to contain both a financial plan and marketing plan.
Marketing is not just advertising and selling. It includes everything that organizations
do to satisfy customers needs:
● Coming up with a good product, defining its features and benefits
● Setting its price
● Identifying its target market
● Making potential customers aware of it
● Getting people to buy it
● Delivering it to people who buy it
● Managing relationships with customers after also.
Bootstrap marketing strategies
Unconventional, low-cost and creative marketing techniques that allow a small to get a
greater return from its marketing investments that larger rivals do.
You don’t need large amounts of money just creativity, small business can still have their
edge over large companies.
How to build a competitive edge?
1. Find a niche and fill it - you can more easily attract attention of your customers this
way, also use the element of having them on an emotional level better, and other
elements like entertain, community and identity etc.
2. Use the power of publicity - raise the companies visability and then sales. Get
peoples attention by sponsoring an event, or write an article about or around the
product that will intrest potential customers, and make current ones loyal.
3. Don't just sell - but entertain, they might stay longer, increase sales. People get
bored when they are buying, make your part of the trip fun, and memberable. All their
sense are trying to be reached, often in the same way, stand out do something
different and catch their eye.
4. Strive to be unique - have something creative and interesting, USP and create
good brand image
5. Build a community with customers
6. Connect with customers on an emotional level - build trust and define a USP.
not just brand loyalty, but passionate ambassitors.
7. Create an identity for your business through branding. - strong brand,
something that customers can aline themselves with.
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