Asian Women In Business
Marketing Plan for Small Business
Presented by Fanny Lawren
Marketing Consultant
fannylawren@gmail.com

Presentation Outline
 What is Marketing
 A Simple Plan
 Marketing Mix: 4P’s
 Promotional Mix: A.P.S.P.
 Market Segmentation
 Target Audience
 SWOT Analysis
 Market Research
 Positioning
 Branding
 Detailed Marketing Plan
 Tracking Results

What Is Marketing?
“The process of planning and executing the conception, pricing, promotion
an distribution of ideas, goods and services to create exchanges that
satisfy individual and organizational goals.”
 Definition by American Marketing Association
“If the marketer does a good job of identifying consumer needs,
developing appropriate products, and pricing, distributing, and promoting
them effectively, these goods will sell very easily.”
 Philip Kotler stated in Principles of Marketing

Simple Marketing Plan
Sometimes, a simple yet focused plan is enough.
 Sentence 1: explains the purpose of the strategy.
 Sentence 2: explains how to achieve this purpose; it should describes the competitive
advantage and benefits.
 Sentence 3: describes the target market — or markets.
 Sentence 4: outlines the marketing weapons to be employed.
 Sentence 5: describes the niche — the positioning.
 Sentence 6: reveals the identity of the business.
 Sentence 7: states the budget, which should be expressed as a percentage of projected
gross revenues.

Marketing Mix & Promotional Mix
The 4 Ps & A.P.S.P.

Marketing Mix
The 4P’s of Marketing: Product , Price , Place , Promotion

Marketing Mix: Product
Types of Product:
 A good is something someone can touch
-Food, Clothing, Electronic, Hardware…
 A service is providing an intangible benefit to customers
-Bank, Hotel, Restaurant, Transportation, …
 An idea can include concepts or images
-Music, Story, Advertising Creative…
 or any combination of the above.
Added Values :
 brand name, packaging, labeling, trademark, warranties…
Business products & consumer products

Marketing Mix: Price
Key:
 Choose a price that will earn a fair profit, AND
that equates to the perceived value to target customers.
Elasticity of Demand:
 Elastic Demand is when consumer demand
is very sensitive to changes in price.
 Inelastic Demand is when a change in
price will not significantly affect demand.
Pricing Models:
 Markup Pricing
 Break-Even Pricing
 Profit Maximization Pricing
 Penetration Pricing
 Skim Pricing

Marketing Mix: Place
Distribution Method –
 Direct: Face-to-face / Sales rep. / Online
 Indirect: Intermediary (Wholesaler / Retailer)
Geographic –
 Local / National / Global
Logistics –
 Distribution Process
 Channel Management
 Inventory Control
 Costs

Marketing Mix: Promotion
Promotion consists of 4 elements known as the Promotional Mix
 Advertising
 Print, TV, Radio, Direct mail, Email Campaign, Internet
 Public Relations
 Press Releases, Community Outreach
 Sales Promotion
 Rebates, Contests, Sweepstakes
 Personal Selling
 Face-to-face, Sales Representative
The New Marketing
 Guerrilla Marketing
 WOM Marketing
 Freemium Marketing
 Social Media Marketing
 Viral Marketing

Market Segmentation & Target Audience
To Whom We Sell

Market Segmentation : Reasons
 Definition: “The process of dividing a market into meaningful, similar and
identifiable groups.”
Why Segmentation Is Important:
 Enables marketers to identify customers with similar needs, buying behavior.
 Allows for the tailoring of the “Marketing mix” to specific segments (also cost effective).
 Consistent with marketing concept of satisfying customer wants and needs.

Market Segmentation : B2C
Segmentations for Consumer Markets:
 Geographic
 By region, country, climate.
 Demographic
 By age, gender, income, ethnicity, education, family lifecycle.
 Psychographic
 By value, attitude, lifestyle.
 Benefit
 By the benefits customers seek.
 Usage-rate
 By the amount of product bought or consumed.

Market Segmentation :B2B
Segmentations for Business Markets:
 Company Characteristics
 By location, type of company, size of company, product use.
 Buying Processes
 By purchasing criteria such as price, quality, service.
 Customer Relationship
 By the type/significance of the relationship they have with their customer.

Target Audience

SWOT Analysis & Market Research
Understanding of the Company and Potential

SWOT Analysis
 A “snapshot” of the
company’s current internal
strengths & weaknesses
(management, personnel,
financial marketing,
manufacturing, R&D) AND
 The assessment of future
opportunities and threats
relating to all the
environments external to the
firm (technological, social,
political/legal, economic,
competitive, natural).

Market Research : Information Needed
Information Needed:
 Proof of viability of idea/market.
 Feedback on 4 Ps, including media consumption (i.e. what consumer/trade
journals are read, internet sites visited, list serve affiliations).
 Association memberships and trade show attendance.
 Buying process, duration, and decision makers.
 Competitors and market shares.
Who to Target for Research:
 Potential customers (target market) – consumers or businesses.
 Potential buyers (often different than customers or “users”).
 Potential channel members.

Market Research: Primary & Secondary
Secondary data can be obtained quicker and at lower costs.
 When collecting secondary data, evaluate it carefully to make sure that it is:
 RELEVANT
 ACCURATE
 CURRENT
 IMPARTIAL
Primary data can be very costly and time consuming to gather.
 Many ways to collect primary data.
The most common methods:
 Observational approach
 Survey approach
 Experimental approach

Positioning & Branding
Unique Selling Proposition

Positioning: Unique Selling Proposition
Positioning
 A concept to position a product in the mind of the customer. Strategy is therefore
planned in the mind, not the marketplace.
 This approach is needed because consumers are bombarded with a continuous
stream of high-volume advertising.
 The consumer's mind reacts to this high volume of advertising by accepting only
what is consistent with prior knowledge or experience.
 In an over-communicated environment, the advertiser should present a simplified
message and make that message consistent with what the consumer already
believes by focusing on the perceptions of the consumer rather than on the
reality of the product.
 It is more than just a slogan. It conveys the idea that no other company, product
or service compares.
 Highlight a feature or benefit that only your product or service contains.

Branding
Why Branding is important?
 A solid brand reverses the sales process.
 An established brand generates trust.
 A strong brand removes customer objections.
 We have moved from a selling world to a buying world.
 We are selling to the overwhelmed.
 Familiar brands are predictable and trustworthy.
What builds a brand?
 Image
 Visibility
 The Perception of Being the Best

Marketing Plan
A focused Strategy

A Simple Marketing Plan
Sometimes, a simple yet focused plan is enough.
 Sentence 1: explains the purpose of the strategy.
 Sentence 2: explains how to achieve this purpose; it should describes the
competitive advantage and benefits.
 Sentence 3: describes the target market — or markets.
 Sentence 4: outlines the marketing weapons to be employed.
 Sentence 5: describes the niche — the positioning.
 Sentence 6: reveals the identity of the business.
 Sentence 7: states the budget, which should be expressed as a percentage
of projected gross revenues.

A More Complex Plan
In some cases, a more in-depth marketing plan is needed.
This plan can be structured in the following format.
 Executive Summary
 Challenges
 Situation Analysis
 SWOT
 Market Segmentation
 Target Audience
 Selected Marketing Strategy
 4Ps / Positioning / Branding
 Short & Long-Term Projections
 Conclusion
 Appendix

Tracking
Monitoring the Results

Tracking: Monitoring the Result
“The best predictor of the future is the past!” – Judith Greer Essex
ROI:
 Return of Investments
 Sales is the ultimate tracking data
Other metrics:
 Ask the customers
 Obtain stats from web host
 Look at stats for key word campaign
 Add a squeeze page to the website
 Add a sub-domain to the ads or materials
 Use different contact numbers for each ad
 Use “Ask for” for each ad

Asian Women In Business
42 Broadway, Suite 1748
New York, New York 10004
Tel: 212.868.1368 - Fax: 877.686.6870
Email: info@awib.org