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Entrepreneurship and Commerce in IT - 05 - Marketing, Technology and Marketing, CRM, Twitter, Facebook, Foursquare, LinkedIn, Organizational Plan, Financial Plan
The document outlines essential concepts in marketing, including the marketing process, SWOT analysis, and the importance of technology, particularly CRM and social media marketing, in reaching customers. It suggests that an organizational plan is crucial for providing direction, while financial planning is necessary for predicting future financial states and assessing the viability of business objectives. The text emphasizes structured planning in a business context, covering marketing strategies, financial forecasts, and operational considerations.
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Entrepreneurship and Commerce in IT - 05 - Marketing, Technology and Marketing, CRM, Twitter, Facebook, Foursquare, LinkedIn, Organizational Plan, Financial Plan
- 1. Entrepreneurship & Commerce inIT 05 Sachintha Gunasena MBCS http://lk.linkedin.com/in/sachinthadtg
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- 3. Marketing • The managementprocess through which goods and services move from concept to the customer.
- 4. 4 P’s ofMarketing • Product • Price • Place • Promotion
- 5. Goals / Plans •Goals • specify future ends. • Plans • specify today's means of achieving Goals.
- 6. Marketing Planning Process whereare wewhere are we nownow where are wewhere are we nownow where do wewhere do we want to gowant to go where do wewhere do we want to gowant to godid we get theredid we get theredid we get theredid we get there how do wehow do we ensure arrivalensure arrival how do wehow do we ensure arrivalensure arrival how do we gethow do we get therethere how do we gethow do we get therethere
- 7. SWOT • Strengths • Weaknesses •Opportunities • Threats
- 8. Situational Analysis • Internal •S/W • External • O/T
- 9. Objectives • S MA R T • Smart • Measurable • Achievable • Relavant • Time Framed
- 10. STP • Segmenting • Targeting •Positioning
- 11. Tactical Marketing Mix(7 P’s) • Product • Price • Place • Promotion • People • Process • Physical Evidence • https://www.business.qld.gov.au/business/running/marketing/marketing- basics/seven-ps-marketing
- 12. Marketing P’s -Internal / External • Internal • Product • Price • Place • Promotion • External • People • Process • Physical Evidence
- 13. Marketing Control Process MarketingStrategyMarketing StrategyMarketing StrategyMarketing Strategy Annual Marketing PlanAnnual Marketing PlanAnnual Marketing PlanAnnual Marketing Plan ImplementationImplementationImplementationImplementation Evaluation: CollectEvaluation: Collect Actual Data andActual Data and Compare with PlanCompare with Plan Evaluation: CollectEvaluation: Collect Actual Data andActual Data and Compare with PlanCompare with Plan If Deviations areIf Deviations are Found, MakeFound, Make AdjustmentsAdjustments If Deviations areIf Deviations are Found, MakeFound, Make AdjustmentsAdjustments
- 14. Technology and Marketing •A wave of new technologies exists today to aid marketers in reaching and researching existing and prospective customers. • Even tools thought of as "new" a decade ago, such as internet advertising, e-mails, and text messaging, are now seen as the norm or even antiquated. • Newer technologies, including GPS, DVR's, social media and smart phone applications, are becoming increasingly important. • Two major tools being used today are customer relationship management systems (CRMs) and social media marketing. • Source: Boundless. “Use of New Technologies in Marketing and Research.” Boundless Marketing. Boundless, 21 Jul. 2015. Retrieved 25 Aug. 2015 from https://www.boundless.com/marketing/textbooks/boundless-marketing- textbook/the-marketing-environment-3/technology-32/use-of-new-technologies-in- marketing-and-research-171-4044/
- 15. CRM • Customer relationshipmanagement systems use technology to organise, synchronise, and automate business practices. • CRM systems for marketing help the enterprise identify and target potential clients and generate leads for the sales team. • A key marketing capability is the ability to track and measure multichannel campaigns, including email, search, social media, telephone, and direct mail. Metrics monitored include clicks, responses, leads, deals, and revenue. • In a web-focused marketing CRM solution, organizations create and track specific web activities that help develop the client relationship. These activities may include such activities as free downloads, online video content, and online web presentations.
- 16. CRM Cont.d • Acertain amount of marketing information is being gathered all the time by companies as they engage in their daily operations. • When a sale is made and recorded, this is marketing information that's being gathered. • When a sales representative records the shipping preferences of a customer in a firm's CRM system, this is also marketing information that's being collected. • When a firm gets a customer complaint and records it, this too is information that should be put to use. • All this data can be used to generate consumer insight. • However, truly understanding customers involves not just collecting quantitative data (numbers) related to them but qualitative data, such as comments about what they think.
- 17. Social Media Marketing •Social media marketing refers to the process of gaining website traffic or attention through social media sites. • Social media marketing involves using peer recommendations, building brand personality, and addressing the market as a heterogeneous group of individuals. • It also uniquely encourages customers to create their own content and buzz around a product. • In other words, programs usually centre on efforts to create content that attracts attention and encourages readers to share it with their social networks. Hence, this form of marketing is driven by word-of- mouth; this means it generates results in earned media rather than paid media.
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- 19. Example Cont.d • UsingSocial Media for Event Promotion • This graphic lists possible uses for social media sites when putting on a business marketing event.
- 20. How to Writea Better Marketing Plan • http://marketingland.com/8-marketing-plan- differentiators-will-make-strategy-pop-127671
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- 22. Twitter • Twitter allowscompanies to promote products on an individual level. • The use of a product can be explained in short messages that followers are more likely to read. • Messages can link to the product's website, Facebook profile, photos, videos, et cetera. • This link gives followers the opportunity to spend more time interacting with the product online. • This interaction can create a loyal connection between product and individual and can also lead to larger advertising opportunities.
- 23. Facebook • Facebook profilesare more detailed than Twitter. • They allow a product to provide videos, photos, and longer descriptions. • These also can include testimonials, as other followers can comment on the product pages for others to see.
- 24. Foursquare • Foursquare isa location-based social networking website where users can check into locations via their smartphones. • Foursquare allows businesses to create a page or create a new venue or claim an existing one. • A good marketing strategy for businesses to increase footfall or retain loyal customers includes offering incentives like discounts or free food/beverages for people checking in to their location, or provides special privileges for the mayor of that location.
- 25. LinkedIn • LinkedIn, beinga professional business-related networking site, allows companies to create professional profiles for themselves as well as allowing their business to network and meet others. • Through the use of widgets, members can promote their various social networking activities, such as Twitter stream or blog entries of their product pages, on their LinkedIn profile page. • LinkedIn provides its members the opportunity to generate sales leads and business partners.
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- 27. Definition • The endresult of the process of setting medium and long term objectives for an organization and then developing a strategy to accomplish those goals. Producing a coherent organizational plan is one of the most important tasks of senior business management since it provides consistent guidance and an action plan for the rest of the company to follow. • Read more: http://www.businessdictionary.com/definition/organizati onal-plan.html#ixzz3jrI3RYso
- 28. What’s an Organisational Plan? •a “to do” list for an organization. • It lists out the plan of work, programs, and organisational growth over a period of time - i.e. six months, a year, a five years. • Planning helps an organization chart a course for the achievement of its goals.
- 29. Use of OrganisationalPlan • Set priorities for your work • Make sure tasks get done on time • Focus on one thing at a time • Share work among staff, board members and volunteers • Make your goals clear to funders • Get a handle on big projects by breaking them down into smaller tasks
- 30. Parts of OrganisationalPlan • Company Structure • Management Hierarchy • Action Plan
- 31. how to plan •Decide on Categories • Set Goals • Set Tasks • Plan a Schedule • Choose Responsibility • Support • Follow Through • Plan Evaluation
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- 33. Definition • A comprehensiveevaluation of an investor's current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans. • Most individuals work in conjunction with an investment or tax professional and use current net worth, tax liabilities, asset allocation, and future retirement and estate plans in developing the plan. These will be used along with estimates of asset growth to determine if a person's financial goals can be met in the future, or what steps need to be taken to ensure that they are. • Read more: Financial Plan Definition | Investopedia http://www.investopedia.com/terms/f/financial_plan.asp#ixzz3jrLMi wRk
- 34. What’s a FinancialPlan? • Financial planning for a business is the task of determining how the organization will afford to achieve its strategic goals. Usually, an organization creates a financial plan immediately after the vision and objectives have been determined. • The financial plan describes each of the activities, resources, equipment, and materials that are needed to achieve an organisation's objectives as well as the timeframe.
- 35. What’s the use? •It will tell whether the business will be viable or whether it will be a wasting of time and/or money.
- 36. Components of aFinancial Plan • Sales forecast • Expenses budget • Cash-flow statement • Income projections • Assets and liabilities • Breakeven analysis
- 37. Sales Forecast • Spreadsheetprojecting the sales over the course of three years. • Set up different sections for different lines of sales and columns for every month for the first year and either on a monthly or quarterly basis for the second and third years.
- 38. Expenses Budget • Understandhow much it's going to cost to actually make the sales that have been forecasted. • fixed costs/ variable costs
- 39. Cash-Flow Statement • Physicalmoney moving in and out of the business. • Base this partly on sales forecasts, balance sheet items, and other assumptions.
- 40. Income Projections • Profitand Loss statement • details forecasts for the business for the coming three years • Use the numbers that were put in the sales forecast, expense projections, and cash flow statement.
- 41. Assets and Liabilities •Projected balance sheet • deal with assets and liabilities that aren't in the profits and loss statement and project the net worth of the business at the end of the fiscal year. • start with assets, and estimate what you'll have on hand, month by month for cash, accounts receivable (money owed to you), inventory if you have it, and substantial assets like land, buildings, and equipment.
- 42. Assists and LiabilitiesCont.d • Then figure out what you have as liabilities-- meaning debts. • That's money you owe because you haven't paid bills (which is called accounts payable) and the debts you have because of outstanding loans.
- 43. Breakeven Analysis • BreakevenPoint is when the Business’ Expenses match the Sales or Service Volume • The three-year income projection will enable to undertake this analysis. • If the business is viable, at a certain period of time the overall revenue will exceed the overall expenses, including interest. • This is an important analysis for potential investors, who want to know that they are investing in a fast-growing business with an exit strategy.
- 44. Budgets Description Notes Year1 Year 2 Year 3 Sales units 1 Sales amount 2 Manufacturing cost 3 Administrative cost 4 Distribution cost 5 Financial cost 6 Other cost 7 Net profit 8 Tax 9 ROI 10 Break even point 11
- 45. References • Financial PlanReferences: • http://www.inc.com/guides/business-plan- financial-section.html • http://www.managementstudyguide.com/financia l-planning.htm
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- 47. Business Plan • TitlePage and Table of Contents • Executive Summary • summarize the vision for the company • General Company Description • provide an overview of the company and the service it provides to its market • Products and Services • describe, in detail, the unique product or service • Marketing Plan • describe how the company will bring its product to its consumers
- 48. Business Plan Cont.d •Management and Organization Plan • describe the structure of the organization and the philosophy that governs it • Operational Plan • describe how the business will be operated on a day-to-day basis • Financial Plan • illustrate the working model for finances and the need from investors
- 49. Next Up • Financinga Venture • Resource Optimisation
- 50. Thank you. Sachintha GunasenaMBCS http://lk.linkedin.com/in/sachinthadtg