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Tutorial - Help With Assignment Two

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24 views20 pages

Tutorial - Help With Assignment Two

Uploaded by

Aneziwe Shange
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Introduction to Entrepreneurship

Silindile Mkize
Chapter 10
The Business Plan
Objectives of this session

• Discuss assignment two:

Marketing strategy
Human resource strategy
Assignment two

For your assignment two (2), you must


cover the following areas of your business
plan.

1. Marketing strategy
2. Financial strategy inclusive of cash flow
projections and expenditure plan on each
sale.
3. Human resource strategy
Marketing strategy

 Objectives of marketing
 Analysis of marketing
 Target market
 4Ps Marketing strategies
Objectives of marketing

 Outline how a company will promote and sell its products or


services to its target audience inorder to achieve its business
objectives
 Understanding the Target market
 Positioning and Differentiation
 Market Research
 Marketing Mix (4Ps):
Target market

 Identify and define the target market or audience for the


products or services. This involves understanding their
demographics, preferences, needs, and behaviors.

E.g Chicken dust in townships


young adults, single, small families who want a quick meal, a bite
for a night of partying.
Positioning

 Market Positioning refers to the ability to influence


consumer perception regarding a brand or product
relative to competitors. The objective of market
positioning is to establish the image or identity of a
brand or product so that consumers perceive it in a
certain way
 Example umgxabhiso wase-17
Positioning and
differentiation
Differentiation:
Setting yourself apart from the competition, is one of the
most important and effective marketing tools available to
small business owners
Making a Business Stand Out from Its Competitors
Positioning and
differentiation
 Different ways to differentiate:
Quality, service, price, distribution, perceived customer
value, durability, convenience, warranty, financing, range of
products/services offered, accessibility
Positioning and
differentiation
 E.g Moja Chicken founder Letlhogonolo Motseeng on
positioning and differentiating his chicken dust
“I took chicken dust – township-style – and gave it flavours. This
is what I sell at Moja Chicken,” he explains.
The marketing mix
Product
 Tangible item/intangible services
 Manufactured /produced
 Certain number of units with the purpose of being
sold
 Decisions about products
 Product differentiation
 Product life cycle
- Pricing strategy
- Manually or automated
The marketing mix

Price
Amount that a customer pays for a product
depends on:
 Quality of product
 Brand name
 Market competition
 Market condition
 Product life cycle
 Profit margins
The marketing mix
The marketing mix (Cont..)

 Place
 The channel of distribution (or place) that serves as the
medium of getting products to end customers
 Functions: logistical, facilitative, transactional
 Decisions regarding distribution location:
 Channel member selection
 Logistics
 Market coverage
 Levels of services
 Inventory management
 Warehousing, transportation
 Order processing
Financial strategy

 Fund raising (details on start-up capital)


 cash flow projections
 Projected income statements including balance sheet.
 Projected cash budgets
Human resource strategy

Roles and Responsibilities


 Job Descriptions
 Job specialization vs multidisciplinary skill
 Machine Training
 Systems Learning
 Transparency
 Top-down-Top Relationships
 Peer comradeship
 Alignment to layout Strategy
 Alignment to Process Strategy
 Alignment to Location Strategy
HUMAN RESOURCE
ORGANOGRAM
HUMAN RESOURCE
ORGANOGRAM
Managing
Director
Mathes

Personal
Assistant
9. Ntokozwini

Operations
Manager
15.Lukhozi

Projects
Manager
15. Xaba

Moderator Assessor
(Contractual) Smith

Accounts Accounts
Manager I Manager II
Simonson Ngimane

Facilitator Facilitator Facilitator Facililator Facilitator Facilitator


(Contractual) (Contractual) (Contractual) (Contractual) (Contractual) (Contractual)
.

THE
END

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