Phase II Deliverables
How Phase II Ties to Phase I & III • Phase I will provide much of the data for Phase II. You will likely do additional research at each phase, as you see fit. • This Phase II template is designed as a tool to help you create your marketing plan and most of its elements. Your deliverable is this “Blank Slide Presentation” with the data filled in. This presentation should not serve as an example of your Phase IV final presentation for the EC. It is an interim step. • This approach is used by Bain & Co. (called a blank slide deck) and McKinsey & Co. (called a ghost deck) in their case work. • The purpose for having you submit Phase II in this format is to get you comfortable thinking in slide format and working with Powerpoint.
Keep in Mind for Phase II • These slides mirror the guidelines in the EC Marketing Plan Requirements document • Don’t write a paper on each slide. If you have more bullet points and type than that on this slide, you have too much. Simplify…Focus… • Use the notes section of the slide for citing sources, providing additional information, and adding context to the slides. After reading your slide and the accompanying notes, I should understand exactly what you want me to understand. There is no limit to the size of your notes section. • You may use this style template or another of your choosing as long as you cover the topics on each slide in this blank slide deck. No style points awarded, btw. Save it for Phase III. • If you would like to insert additional slides, you may add up to 5 slides (maximum)
Team XYZ Phase II Report • Team Members: • Susie • Billy • Sam • Allen • Becky
Marketing Strategy: Marketing Objectives • This slide should tie to the Marketing Results slide near the end of this presentation • Highlights anticipated gains as a result of implementing your marketing strategy
Marketing Strategy: Financial Objectives • Ties to Financial Results slide near the end • Gets client excited about the marketing program to come by showing a limited preview of your financial results
Marketing Strategy: Target Market(s) • We will segment (young or military) entrepreneurs primarily based on: • (Geographic? Demographic? Psychographic? Behavioral?) factors including: • Factors X, Y and Z • Because (Data A, B, C) • We will (broadly? narrowly?) target the XXX segment because of Data 1, 2, 3
Marketing Strategy: Target Segment Needs, Requirements, Demands, Buying Criteria • The example below may give you some ideas on how to display this information. Citing sources is essential!
Marketing Strategy: Value Proposition • Your value proposition should be modeled after the EC’s (below), but focusing specifically on your target segment. Use class materials and templates to craft a good one. • Value Proposition of the Entrepreneur CenterWe help the Creative Class Turn their Ideas into Reality. The Entrepreneur Center serves as a gateway that fuses training, relationships, and resources to cultivate economic development and drive Nashville’s future as the epicenter of entrepreneurial endeavors”
Marketing Mix: Product/Services • The Perfect Product/Service for your Target Segment • What products/services of the EC will you highlight because they exactly meet the needs of your target segment? • What products/services should be added (or downplayed) to exactly meet the needs of your target segment?
Marketing Mix: Pricing • What changes (if any) should be made to the EC pricing to meet the needs of your target segment (and the need to capture value by the EC)?
Marketing Mix: Promotion • How will you reach your target segment? • Advertising? • Sales promotion? • Personal selling? • Public relations? • Direct marketing? • For each promotional effort you plan to use, tell us: • What specifically you plan to do • How often you will do it • What message you will communicate • How you will communicate the message
Marketing Mix: Place (Channel) • Chapter 10 in the textbook is valuable for this slide • What, if any, partnerships should the EC form to deliver value to your target segment? • Where will the services of the EC be provided to your target segment? • Office on Broadway? • Online? • Other venues?
Marketing Research • Your market research should permeate all the other slides. Be sure to cite sources completely and accurately using the guidelines I have given you. • No need for a separate slide on this topic, although it appears in the Phase II outline
Best Demonstrated Practices • Identify the 3 to 5 Major Processes to benchmark • Frameworks such as the AIDA model may be helpful
Financials • Budget of $50,000 • $10,000 for XYZ • $20,000 for LMN • Etc.
Marketing Results • Expected results • X hits on the website? • Y calls to the EC? • Z visits to the EC? • XX entrepreneurs accepted into the ABC system? • Other?
How to Think about ROI • How nonprofit organization GHJ thinks about it • What academic research says about it • Etc.