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GRADE 4 SOUK MARKETING PLAN BUSINESS NAME 1.What is the name of your business? Hint: When you think of the name of your business, make sure that it captures the spirit of the business you’re creating. DESCRIPTION OF BUSINESS 2. What will your business do? Hint: Imagine that you are explaining your business to a family member or a friend. The business should be easy to explain. Keep your description here to about 30 words or less. IDEAL CUSTOMER 3. Briefly describe your ideal customer. What are they like in terms of age, income level, and so on? Hint: You don’t have to give too much detail in this part of the plan; you’ll provide more details about customers and marketing in later parts of the plan. OUR ADVANTAGES 4. Why will customers choose to buy from your business, instead of your competition? Hint: In this section, describe what will be unique about your business. For example, is the product special, will customer service be exceptional, or will you offer the product at a lower price? GRADE 4 SOUK MARKETING PLAN MISSION STATEMENT 5. Provide a brief mission statement for your business Hint: . Be sure to include the name of your business, how you will stand out from your competition, and why a customer will buy from you. MANAGEMENT AND JOB DESCRIPTIONS 6. Create an organizational chart, briefly create a job description for each team member. Create a job specification for employee. Explain what types of raw materials and supplies will you need to run your business. How will you produce your good or service? What equipment do you need? Hint: A job description lists the duties and responsibilities of a job; its working conditions; and the tools, materials, equipment and information used to perform it. Imagine your business on a typical day. Who is working and what are each person’s responsibilities? Job Title : Insert Name Insert Name Insert Name Name your product or service. Types of raw materials and supplies you will need. PRODUCT DIFFERENTIATION 7. How will you make your product stand out in the crowd? Hint: There are many ways to stand out in the crowd, such as a unique product, outstanding service, or a great location. What makes your “great idea” special? Does it fill an unmet need in the marketplace? How will you differentiate your product to make sure that it succeeds? GRADE 4 SOUK MARKETING PLAN PRICING 8.What pricing strategy will you choose for your product, and what are the reasons for this strategy? Hint: Refer to pricing strategies and tactics. Psychological pricing, bundle pricing, Which will you choose, and why? ADVERTISING 9. How will you advertise to your target market? Why have you chosen these forms of advertisement? Hint: Marketers use several different advertising media—specific communication devices for carrying a seller’s message to potential customer. PROMOTIONS 10. What other methods of promotion will you use, and why? Hint: There’s more to promotion than simple advertising. Other methods include personal selling, sales promotions, and publicity. How to promote your product that go beyond just advertising? CUSTOMER SERVICES How will you use information technology to keep track of your customers and potential customers? Hint: Many businesses—even small businesses—use databases to keep track of their customers. Will your business require a database? What about other information systems?