Anticipated demand What is the anticipated quantity of products/services your customers are likely to purchase? For example, how much will an individual customer buy in 6 months or 12 months? — Pricing strategy Do you have a particular pricing strategy? Why have you chosen this strategy? To help you develop your pricing strategy, you could refer to your customer research, market position, anticipated demand and costs/expenses to get an idea. Whatever strategy you use when setting your price, you will also need to adhere to any relevant fair trading legislation or codes of conduct. Visit our page for your state fair trading office contact details. Value to customer How do your customers value your products/services? Are they a necessity, luxury or something in between? — Growth potential What is the anticipated percentage growth of the product in the future? What will drive this growth? To help you determine this growth potential, you could refer to your region/industry research to get an idea of any industry/regional growth that could affect your business in a positive way. You could also look up any social trends that may have a positive affect on your business. Download the series from the Australian Bureau of Statistics website.
Question Explanation More information Price What price have you determined for your products/services? Does this price take into account all your costs including personal, start-up, operational, cash flow and working capital? Have you also allocated a profit margin in your costing? What price will your target market bear? Do your prices take into account any seasonal variation to your suppliers’ costs? — Expected sales What are your expected sales? When do you hope to achieve these figures? Are there seasonal influences? — Marketing budget [YEAR] table Using the table The marketing budget table example contains a list of suggested marketing items a typical business may use. Please note: The table assumes all figures are GST inclusive. Attach your own If you have your own marketing budget or your accountant has already prepared one, please attach it here. If it is a large sheet, you can always attach it to the back of the plan and make reference to it from this section. —
Key customers [Identify your key customers. (These can be large consumers of your products/services or individuals whose satisfaction is key to the success of your business.) How will you target your products/services to them? How will you deliver your products/services to them?] Customer management [How will you maintain a good relationship with your customers? What techniques will you use? How will you keep your customers coming back? Have you introduced customer service standards? Do you follow any particular code of practice? Your competitors [How do you rate against your competitors? How can your business improve on what they offer?] Competitor details [List at least 5 competitors in the table below.] Competitor Established date Size Market share (%) Value to customers Strengths Weaknesses [Competitor name] [When were they established?] [Number of staff and/or turnover] [Estimated percentage of market share] [Unique value to customers, e.g. convenience, quality, price or service?] [What are your competitor's main strengths?] [What are your competitor's main weaknesses?] [Competitor name] [When were they established?] [Number of staff and/or turnover] [Estimated percentage of market share] [Unique value to customers, e.g. convenience, quality, price or service?] [What are your competitor's main strengths?] [What are your competitor's main weaknesses?] [Competitor name] [When were they established?] [Number of staff and/or turnover] [Estimated percentage of market share] [Unique value to customers, e.g. convenience, quality, price or service?] [What are your competitor's main strengths?] [What are your competitor's main weaknesses?]
[Competitor name] [When were they established?] [Number of staff and/or turnover] [Estimated percentage of market share] [Unique value to customers, e.g. convenience, quality, price or service?] [What are your competitor's main strengths?] [What are your competitor's main weaknesses?] [Competitor name] [When were they established?] [Number of staff and/or turnover] [Estimated percentage of market share] [Unique value to customers, e.g. convenience, quality, price or service?] [What are your competitor's main strengths?] [What are your competitor's main weaknesses?] Market research [What research have you completed to help you analyse your market? Did you use a survey/questionnaire? If so, you may like to attach a copy of your survey/questionnaire and findings to the back of this plan.] Market targets [Outline your planned sales targets. What quantity of your products/services do you plan to sell in a planned timeframe? Are they monthly or yearly targets?] Environmental/industry analysis [Detail the results of the market research you have performed. Is the area experiencing population growth? Are there long-term employers in the area? Is the region's economy stable? Are there seasonal variations? What is the size of the market? What recent trends have emerged in the market? What growth potential is available and where do you fit in? How will the market/customers change when you enter the market? What external factors will affect your customers?] Marketing strategy [What is your overall marketing strategy? What steps or activities will you undertake to achieve your goals/objectives?]
Marketing activity/milestone Person responsible Date of expected completion Cost ($) Success indicator [Print advertising, online advertising, mail-out, giveaway, media release, event, website, blog/social media, public relations, branding and artwork, or publications and catalogues.] [Who is responsible for completing this task?] [When do you expect to complete the marketing activity?] [Estimated cost of activity.] [What indicator/ measurement result will need to be met before this activity is considered a success?] [Print advertising, online advertising, mail-out, giveaway, media release, event, website, blog/social media, public relations, branding and artwork, or publications and catalogues.] [Who is responsible for completing this task?] [When do you expect to complete the marketing activity?] [Estimated cost of activity.] [What indicator/ measurement result will need to be met before this activity is considered a success?] [Print advertising, online advertising, mail-out, giveaway, media release, event, website, blog/social media, public relations, branding and artwork, or publications and catalogues.] [Who is responsible for completing this task?] [When do you expect to complete the marketing activity?] [Estimated cost of activity.] [What indicator/ measurement result will need to be met before this activity is considered a success?] [Print advertising, online advertising, mail-out, giveaway, media release, event, website, blog/social media, public relations, branding and artwork, or publications and catalogues.] [Who is responsible for completing this task?] [When do you expect to complete the marketing activity?] [Estimated cost of activity.] [What indicator/ measurement result will need to be met before this activity is considered a success?] Advertising & sales Advertising and promotional strategy Planned promotion /advertising type Promotional strategy Expected business improvement Cost ($) Target date [Print media advertising, online advertising, SMS, mail-out, giveaway, media release, social media campaign or event.] [Why have you decided to use this promotion/advertising type? How and when will you use it? What is your strategy behind this? Who will upkeep your social media presence?] [How do you expect it will improve your business success?] cost of activity.] [e.g. Dec 09]