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Business 100: Marketing Plan

BUSINESS PLAN WRITING ASSIGNMENT:

  • Market Segment: Define the market segment that your product will serve (e.g. adults, children, aged, etc.) Information on market size is available via government data (Census) and also from some private research firms (Mintel)
  • Product: Describe the key product attributes that you plan to sell to consumers.  Include both tangible (fresh breath, whiter teeth) and intangible attributes (safety, etc.)
  • Place: Describe the purchasing patterns of your consumers. Where do they typically buy your products? Where will your company sell or distribute your products?
  • Price: Describe your pricing strategy (is this price above or below market price for the product)?  See text for pricing strategy.
  • Promotion: Discuss your promotional strategy.  How do you plan to see your products (personal selling, advertising, Internet)?  See text for various options to promote your product.

Mintel

NO ALUMNI USE ALLOWED!  ALWAYS LOGOUT WHEN YOU ARE FINISHED AS WE HAVE A LIMITED NUMBER OF CONCURRENT USERS ALLOWED FROM LA SALLE UNIVERSITY.

If you wish to use Mintel's collaboration features, like saved searches and email alerts, then you must register or login to a personal profile.  You must use your La Salle email to create a personal profile! At the top right hand corner of the Mintel homepage, click on Hello Guest and go down to

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My account and meet the team. Click on the yellow Update your Details link, then go down to Register or login to a personal profile.  Use your La Salle email and a password of your own choosing.  

 

MarketLine Advantage

 

Market Segment

Here’s a hint – you can find the projected population estimates for a region by using the Data.Census.gov website.  Search for Annual Population Estimates – then click Filter. Filter by Geography.  Choose the region or regions you want. When you have chosen them click the hide button – top right  to bring up the tables.  You can also view the results on a map.  You can download any of the tables.

 

Data Tools and Apps

Find information using interactive applications to get statistics from multiple surveys.

There is an Economic Census every five years

https://www.census.gov/econ/

    

Here are some site from the Small Business Administration, which give guidance on using government data

https://www.sba.gov/blogs/free-sources-market-data-and-how-use-data-business-planning

https://www.sba.gov/blogs/conducting-market-research-here-are-5-official-sources-free-data-can-help

Promotion