I’ve attached assignments 1 & 2 to be used to gather some of the content needed. My SWOT Analysis. PLEASE FOLLOW ALL INSTRUCTIONS AND QUESTIONS UTILIZING ALL ATTACHMENTS FOR THE INFORMATION NEEDED TO DO THE ASSIGNMENT.***************My Business Plan is for ENTREPRENEUR Use OPTION B***************
The Four P’s:
PRODUCT
- What does the customer want from the product/service?
- What needs does it satisfy?
- What features does it have to
meet these needs?
- Are there any features
you’ve missed out?
- Are you including costly
features that the customer
won’t actually use?
- How and where will the customer
use it?
- What does it look like? How will
customers experience it?
- What size(s), color(s), and so on,
should it be?
- What is it to be called?
- How is it branded?
- How is it differentiated versus your
competitors?
- What is the most it can cost to
provide and still be sold sufficiently profitably?
PLACE
• Where do buyers look for your product or service? • If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Or online? Or direct, via a catalog? • How can you access the right distribution channels? • Do you need to use a sales force? Or attend trade fairs? Or make online submissions? Or send samples to catalog companies? • What do your competitors do, and how can you learn from that and/or differentiate?
PRICE
- What is the value of the product or service to the buyer?
- Are there established price points
for products or services in this
area?
- Is the customer price sensitive?
Will a small decrease in price gain
you extra market share? Or will a
small increase be indiscernible,
and so gain you extra profit
margin?
- What discounts should be offered
to trade customers, or to other
specific segments of your market?
- How will your price compare with
your competitors?
PROMOTION
- Where and when can you get your
marketing messages across to your
target market?
- Will you reach your audience by
advertising online, in the press, on
TV, on radio, or on billboards? By
using direct marketing mailshots?
Through PR? On the internet?
- When is the best time to promote?
Is there seasonality in the market?
Are there any wider environmental
issues that suggest or dictate the
timing of your market launch or
subsequent promotions?
- How do your competitors do their
promotions? And how does that
influence your choice of
promotional activity?
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