Law Firm Marketing Plan - PDF

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                                Table Of Contents


1.0   Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

2.0   Situation Analysis . . . . . . . . . . .              .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .1
         2.1    Market Summary . . . . . . .                .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .2
                    2.1.1 Market Demographics               .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .3
                    2.1.2 Market Needs . . . .              .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .3
                    2.1.3 Market Trends . . .               .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .4
                    2.1.4 Market Growth . . .               .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .5
         2.2    SWOT Analysis . . . . . . . .               .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .5
                    2.2.1 Strengths . . . . .               .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .6
                    2.2.2 Weaknesses . . . .                .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .6
                    2.2.3 Opportunities . . . .             .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .6
                    2.2.4 Threats . . . . . . .             .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .6
         2.3    Competition . . . . . . . . .               .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .7
         2.4    Services . . . . . . . . . . .              .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .7
         2.5    Keys to Success . . . . . . . .             .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .8
         2.6    Critical Issues . . . . . . . . .           .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .   .8

3.0   Marketing Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
        3.1    Mission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
        3.2    Marketing Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . 9
        3.3    Financial Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
        3.4    Target Marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
        3.5    Positioning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
        3.6    Strategy Pyramids . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
        3.7    Marketing Mix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
        3.8    Marketing Research . . . . . . . . . . . . . . . . . . . . . . . . . . 11

4.0   Financials, Budgets, and Forecasts          .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    . 12
         4.1    Break-even Analysis . . . .        .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    . 12
         4.2    Sales Forecast . . . . . . .       .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    . 13
         4.3    Expense Forecast . . . . .         .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    . 14

5.0   Controls    . . . . . . . . . . . . .   .   .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    . 15
         5.1     Implementation Milestones    .   .    .    .    .    .    .    .    .    .    .    .    .    .    .     .    .    .    .    .    .    .    . 15
         5.2     Marketing Organization . .   .   .    .    .    .    .     .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    . 16
         5.3     Contingency Planning . .     .   .    .    .    .    .    .    .    .    .    .    .    .    .    .     .    .    .    .    .    .    .    . 16
                                        Wy'East Law Firm


1.0 Executive Summary

   Wy'East Law Firm (Wy'East) is a boutique technology law firm located in Boston, MA. Wy'East will
   be lead by Richard Bloom, a seasoned attorney previously with (name omitted)'s e-group. Wy'East
   will service all legal needs generated by technology firms, with specialization on mergers and
   acquisitions and qualified stock option plans. Wy'East handles both start-up and established
   companies.

   In addition to Wy'East's technology practice, they will offer public interest legal work at subsidized
   rates. The technology practice will allow Wy'East to be able to provide public interest organizations
   legal help at the cost of overhead. All marketing efforts will be concentrated on the high technology
   customers. Because Wy'East will be providing public interest work at below market prices, there
   will never be a demand question nor a need to market the Wy'East to the public interest groups.

   Wy'East will appeal to many high technology companies because of the level of experience and
   attention that they offer. Having spent three years practicing at a larger firm, Richard has quickly
   become an expert in most issues facing a high tech company. By opening his own firm, Richard will
   be able to offer a high quality service with a level of attention that the larger firms are unable to
   offer by virtue of their size. Additionally, because Wy'East is a smaller firm, their overhead is
   smaller than the larger firms. This cost savings is then passed on to the customer.

   These different values that are offered to clients will help Wy'East quickly gain market share in this
   niche market.



2.0 Situation Analysis

   Wy'East Law Firm is entering their first year of operation. A cohesive marketing plan is required to
   ensure future profitability. The basic market need is for an attentive, knowledgeable, specialized
   high technology law firm. Wy'East will meet this market need by creating a boutique law firm that
   specializes in the issues high tech firms face.




                                                                                                   Page 1
                                                  Wy'East Law Firm


2.1 Market Summary

  Wy'East has gathered a fair amount of information about the common attributes of their prized
  customers. Wy'East will leverage this information to better understand who is served, their specific
  needs, and how Wy'East can better communicate with them.




                                                  Target Markets




                                                                            Technology companies
                                                                            Public interest organizations




     Table 2.1: Target Market Forecast

      Target Market Forecast
      Potential Customers                Growth       2002    2003   2004           2005         2006        CAGR
      Technology companies                  9%         345     376    410            447          487        9.00%
      Public interest organizations         8%         278     300    324            350          378        7.98%
      Total                              8.55%         623     676    734            797          865        8.55%




                                                                                                            Page 2
                                                      Wy'East Law Firm


2.1.1 Market Demographics

  The profile for Wy'East Law Firm's customer consists of the following geographic, demographic, and
  behavior factors.

  Geographic

      • The immediate geographic target is the city of Boston with a population of 2.1 million.
      • A 50 mile geographic area is in need of the services.
      • The total targeted population is 623 companies.

  Demographic

      •   Technology companies.
      •   The companies range from two months to 10 years old.
      •   Some companies are Internet based start-ups, some are established high tech companies.
      •   Revenues range from $0 (angel and venture funded start-ups) to $30 million in revenue.

  Behavior Factors

      • Have special needs and seek out service providers that can address these special needs.
      • Their businesses are moving at light speed and their partners need to be able to operate at
        a fast pace.
      • Are willing to pay top shelf prices for top shelf services.



     Table 2.1.1: Target Market Analysis

      Target Market Analysis
      Market Segments                      Characteristic        Characteristic   Characteristic     Characteristic    Characteristic
      Technology companies                 Deep Pockets           Many Needs             Local     New or Ongoing Wy'East Markets for
                                                                                                                             Clients
      Public interest organizations        Cash Strapped    Single Issue Needs            Local    New or Ongoing      No Marketing
                                                                                                                          Necessary




2.1.2 Market Needs

  The Wy'East Law Firm will be providing its customers with high quality legal services and
  consultations for any issue a high tech company might face. Wy'East Law Firm seeks to fulfill the
  f
				
DOCUMENT INFO
Description: This marketing plan is for Wy'East Law Firm, which provides legal services to technology firms and specializes in mergers, acquisitions, and stock option plans.
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