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Marketing Methods for Reaching out Potential Customers

University: Imperial College London

  • Unit No: 8
  • Level: Post Graduate/University
  • Pages: 9 / Words 2331
  • Paper Type: Assignment
  • Course Code: SIT716
  • Downloads: 41
Brief :
Organization Selected : N/A

Section-1 Business overview

  • Provide a summary of business
  • the aim of business

Section-2 Product and services

  • what core products and services you are going to sell
  • demonstrate USP of your business product/service
  • brief about any other product that you are going to sell

Section-3 The market

  • who is your typical customer
  • show the basis of your customers
  • what type of branding will you choose and how it will help the customers in buying your product

Section-4 Market research

  • Show your market research by using Harvard referencing style

Section-5 Competitor analysis

  • On the basis of market research, identify the competitors and show the way by which your business will compete with them.

Section-6 Marketing strategy

  • Explain your marketing strategy in context to research material and analyse the most appropriate strategies and give the reasons if its importance.

Section-7 Operation and logistics

  • Premises-
  • Equipment-

 

 

 If bought

 

Item required

Already owned?

New or second hand?

 Purchased from

Price

 

 

 

 

 

  • Mode of transport-
  • What are the legal requirements-
  • What are the insurance requirements-
  • Management and staff-
  • Additional information-

Section-8 Cost and pricing strategy

 

 

 

Product/service name

 

A

Number of units in calculation

 

B

Product/service components

 

C

Total product/service cost

 

D

Cost per unit

 

E

Price per unit

 

F

Profit margin

 

G

Profit margin(%)

 

H

Mark up(%)

 

Section-9 financial forecast

Sales and cost forecast

 

Month

1

2

3

4

6

7

8

9

10

11

12

Total

 

Sales forecast

 

 

 

 

 

 

 

 

 

 

 

 

 

A

Product/

service

 

 

 

 

 

 

 

 

 

 

 

 

 

B

Product/

service

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost forecast

 

 

 

 

 

 

 

 

 

 

 

 

 

C

Product/

service

 

 

 

 

 

 

 

 

 

 

 

 

 

D

Assumptions

 

Cost table

        Cost item

  What is included and how you worked it out

Total cost

 

 

 

 

 

 

 

 

 

Build a Business Session 3B

  1. Explain the concept of your business in less than 200 words. In your explanation provide a clear description of what business does to member of general public.
  2. Provide the aims of your business
  3. What are the product/service that you are going to sell
  4. Identify the USP of your product/service
  5. What other product/service you are going to sell

Build a Business Session 4B

You are required to provide the detailed responses of the question mentioned above

  1. Explain the market in which you are supplying your product/service
  2. Analyse the size of market and provide an insight into figures of potential customers
  3. Are your products customer centric/demographic or its like a general appeal to everyone
  4. Identify the main competitors for the same customer money
  5. Show the difference of usage between your product and competitors product
  6. Explain if the benefits provided by your product is similar to that of competitors product
  7. Manifest the top quality of your product that established customer would give chance to
  8. What are you doing to keep the cost down in order to beat the prices of customers
  9. How you make your product preferable over competitors product
  10. Elaborate the methods used by competitors to market their product
  11. Show the marketing methods that you would chose in order to make aware the customers of your product or service
  12. Provide an elevator pitch for your business.

Build a business session 4B                                         

       Marketing plan

  • what solution is provided by your product to the customer?
  • What differentiate your product solution with that of competitors?
  • Explain the emotional impact that your product has on the customer?

Promotion

  • Analyse the promotional methods for your product

What do you expect on the spending of promotion mention down below-

                 Promotion type

              Expected cost

 

 

 

 

 

  • What amount of profit is expected by you from the single sale?
  • What quantity of product you sell in order to get back the amount spent by you on promotion activity
  • What is beginning time planned for running the promotion and how will time them?

Build a business

Promotion cost-

Television Advertisements

BROADCASTER

MORNING

PRIMETIME

ITV

3000-4500

10000-30000

Channel 4

1000-2000

10000-20000

Channel 5

800-1600

2500-4500

Sky 1

150-250

650-1150

Sky sports

 

60-750

Specialist digital stations

50-150

150-300

 Billboards

Billboards average cost of advertising is around 200 per week by taking standard of 48 sheet hoarding.

Radio

Consider a campaign for a week that is of 30 second could cost anything like-

  • $500 on local station
  • $2500 on regional station
  • $10000 and above on national station

Newspapers

consider The Daily Telegraph

  • if full page colour ad than $59000
  • half page$43500
  • quarter page$22000

The Times

  • full page colour ad $27000

The Sunday Times

  • full page colour ad $97000

The Sun

  • if full page colour ad $55,502
  • half page $30526
  • quarter page$23000

Local newspapers

  • if full page colour ad $3000
  • Half page $1500
  • Quarter page$800

Magazines

  • well placed full colour ad $40800
  • regular page full colour ad $17000
  • half page $8450
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