Homework: Marketing and Sales
Introduction: If an entrepreneur understands who their ideal customer is and who the main target market will be, this sets the foundation to build upon later, when it is time to forecast sales, estimate expenses, and decide the best method to communicate to those potential customers.
In the "Execution" section of LivePlan, address only the marketing and sales section (you will complete the operations and other parts of execution in Units 3 and 4) by completing the checklist items.
Checklist: Marketing and Sales portions of the plan:
o Describe the kind of marketing activities will you use to attract customers.
o Explain the unique value proposition or selling point.
o Explain how your value proposition positions you relative to your competitors.
o Using Michael Porter's concepts in Generic Strategies, what approach do you plan to use?
o Describe your distribution and pricing plans.
o How will your customers buy your products or services?
o How will you turn your potential customers who express interest into paying customers?
o Discuss the essential elements of the sales process (i.e., staffing, commissions, and quotas.)
o Describe any key sales activities that you will use to build and maintain your sales pipeline.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.