Financial Budgeting
“If you fail to plan, then you plan to fail”
Marketing Plan Example
Analyse customers according to age, sex, occupation,
income and location
Example:
Wedding Photography Business
Age of customers: 20-35
Sex: Male & female
Income Varies from low to high
Location: Near outer suburbs growth areas
Marketing Plan Example
Wedding Photography Business
How to we promote the business?
1. Direct mail?
2. Radio?
3. Leaflets in shops in local shopping centres?
4. Presentations?
5. Telephone contact?
6. Yellow pages?
Cost each one & consider what impact they may
have on reaching your sales targets
Marketing Plan Example
1. Direct mail?
2. Radio?
3. Leaflets in shops in local shopping centres?
4. Presentations?
5. Telephone contact?
6. Yellow pages?
Some can be trialed to establish their value.
Spending big money on promotion or advertising
doesn’t necessarily equate to more customers.
For example:
A Yellow Pages listing with internet listing may cost
$20,000 for 12 months. What return can you get from
this?
Conclusions 1
Conclude your Marketing Plan with a
plan that summarises your market analysis
and proposed methods of promotion.
For example:
“I will spend 10% of my income on advertising”
“I will leaflet drop 2000 local houses in this area in the
next 12 months.”
“I will focus on 23-35 year old professional people by
advertising on radio”
SWOT Analysis 1
For example:
Strengths:
1. Excellent skill & knowledge in photography
2. Own good equipment
3. Have secured and excellent location for the studio
4. Already have a customer base
Weaknesses:
Seasonal fluctuation in sales, pressure on cash flow
Need more training in lighting on location
Don’t have and need a home base/studio
Need to upgrade to Apple OS 10.5, Photoshop CS3 and Adobe
Lightroom
SWOT Analysis 2
For example:
Opportunities
1. Invitation to join member group to share information
2. Growing interest in wedding photography based on
research
3. Improve your web site for clients to book & pay onlline
Threats:
Competitor offers a similar product or service at
cheaper rates
Studio lease is only 12 months, non renewable
May not be able to secure insurance