Finanancial Plan

BEC
2ND PREPARATORY/ BUSINESS PLAN PROJECT 2ND STAGE
MARKETING PLAN
The Marketing Plan section explains how you're going to get your customers to buy your products and/or services. The marketing plan, then, will include sections detailing your:
Products and/or Services/ Customer Description
* This part of the marketing plan focuses on the uniqueness of your product or service, and howthe customer will benefit from using the products or services you're offering. Use these questions to write a paragraph summarizing these aspects for your marketing plan:
1.-What are the features of your product or service? Describe the physical attributes of your product or service, and any other relevant features, such as what it does, or how your product or service differs from competitiveproducts or services.
2.-How will your product or service benefit the customer? Who are your customers, where are they, what do they need, like, etc.
3.-What is it that sets your product or service apart from all the rest?
Pricing Strategy
* The pricing strategy portion of the marketing plan involves determining how you will price your product or service; the price you charge has to becompetitive but still allow you to make a reasonable profit.
* The keyword here is "reasonable"; you can charge any price you want to, but for every product or service there's a limit to how much the consumer is willing to pay. Your pricing strategy needs to take this consumer threshold into account.
* "How do you know what price to charge?"Basically you set your pricing through a process ofcalculating your costs, estimating the benefits to consumers, and comparing your products, services, and prices to others that are similar.
Sales and Distribution Plan / Place
* Remember, the primary goal of the marketing plan is to get people to buy your products or services. The Sales and Distribution part of the marketing plan details how this is going to happen.
* How is your product orservice going to get to the customer? For instance, will you distribute your product or service through a Web site, through the mail, through sales representatives, or through retail?
* Where will the location of your business be and why.
Promotion and Advertising
* Essentially the Advertising and Promotion section of the marketing plan describes how you're going to deliver your UniqueSelling Proposition to your prospective customers.
* Advertising - The best approach to advertising is to think of it in terms of media and which media will be most effective in reaching your target market. For example: television, radio, newspapers, magazines, telephone books/directories, billboards, bench/bus/subway ads, direct mail.
* Other promotional activities such as: offering freesamples, coupons, point of purchase displays, product demonstrations
* Marketing Materials - Every business will include some of these in their promotion plans. The most common marketing material is the business card, but brochures, pamphlets and service sheets are also common.
* Publicity - Another avenue of promotion that every business should use. Describe how you plan to generatepublicity. Consider: product launches, special events, including community involvement, writing articles, getting and using testimonials.
* Your Business' Web Site, tradeshows.

Financial Plan
It's at the end of your business plan, its main characteristics are:
* It is the section that determines whether or not your business idea is viable, and is a key component in determining whether ornot your business plan is going to be able to attract any investment in your business idea.
* Basically, the financial plan section consists of three financial statements, the income statement, the cash flow projection and the balance sheet and a brief explanation/analysis of these three statements.

* You need to gather together some of the financial data you'll need to prepare these...