BSBMKG542 Establish and Monitor the Marketing Mix: Reduce Environmental Impacts

Question:

Consider what you want your business to accomplish in the long term. What are your ultimate goals? Be passionate, powerful and inspiring.]

Our hopes, dreams and where we aim to go.

Example: To be the go-to supplier of high quality, sustainable coffee in Australia and reduce environmental impacts through promoting sustainable shopping practices.]

[Consider the purpose of your business and define what it does for your customers. What do you do, how do you do it and why do you do it?]

Who we are and why we exist.

Example: We supply high quality, sustainably produced coffee for all coffee lovers to enjoy while minimising their environmental impact.] How much of our product/service we expect customers will want to buy over the next year.Our business strengths, weaknesses, opportunities and threats.

[Attach a copy of your research and findings to this plan. Visit our How to research your market page for more information. Market research can help you to get an understanding of problems customers face and opportunities in the market.]

Research we’ve done to analyse the market.

Example: We sent a questionnaire to 30 retail coffee shops, suppliers and other potential customers to assess demand, gaps and issues in the market. We found that the large number of coffee brands and blends is generally confusing for customers.]

[What issues do your potential customers face in the current market? Is there a lack of your service type in a particular suburb? Is the product supplied by other businesses expensive?]

The market problem/s that we aim to solve for customers.

Example: There’s an overwhelming choice of coffee blends in the market. It’s hard for customers to know what they’re buying.]

How our business solves the problem – our unique selling point. This is how we’ll succeed in the market.

[Example: Intrinsic Coffee sells a small range of high-quality coffee. We don’t use fancy names for our blends, so people know what they’re buying.]

[Not everyone will want your product or service, so make sure you research the market and have a clear picture of who you’re targeting. This helps focus your marketing efforts and improve your chances of success. Describe your targeted customers for example by gender, age, income, location or education.]

The group of customers that we aim to sell our products or services to.

[Example: Our products are targeted at adults over 30 with a medium to high disposable income

The top 3 businesses we’re competing against, what they do well and not so well. What we’ll do differently to succeed in the market.

[Try to make your goals SMART:  specific, measurable, achievable, relevant and time-bound. For example, increase online coffee sales by 10% over the next 12 months.]

[Read our marketing page to learn about the 5 ‘P’s’ of marketing – the product, price, place, people and promotion.] Where our products/services fit in the market. What makes them different from our competitors’ products/services.

[Explain your pricing strategy and why you chose it. Does the price cover all costs such as staff, production and operations? Have you added a profit margin? What price will your target market bear? Do your prices account for any seasonal variations in costs?]

How we set the prices for our products/services.

Example: Our coffee beans are sold at cost of production and distribution plus a mark-up of 50%. This ensures we remain competitive and make a profit.]

[How will you deliver your product or service to customers? Think about your target audience when you decide on distribution channels.]

[How will you maintain good relationships with your customers and keep them coming back? Will you have customer service standards? Check our Customers topic for more information.]

[List your existing or required sales and marketing staff.]

[Choose channels that suit your target market. For example, social media use varies across different age groups. Learn about choosing the best channels to communicate with your customers.]

The channels we’ll use to promote and advertise to our target customers.

[Describe how you’ll regularly review the impact of your planned marketing activities. What were the results for the promotional period? What were your sales figures? How many new/repeat customers did you receive? How many visitors to your website?]

[Use your financial statements and forecasts to complete this section. For help with start-up costing, balance sheet, profit/loss and cash flow check our financial templates.]

[Describe your expected sales figures and any seasonal influences.]

Our expected sales for the next year.[You can base your budget on the example below, use your own budget or ask your accountant for help. Figures include GST.]

Attached documents (where relevant):

☐ Balance sheet forecast (including assumptions)

☐ Cash flow statement forecast (including any assumptions)

☐ Market research

☐ Profit and loss forecast sheets (including any assumptions)

☐ Staff resume/s.

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