Your target market refers to the area (geographic or otherwise) that you will serve, while your target customers are the people who are most likely to purchase your product.
One of the most essential of these startup responsibilities is marketing.
Creating a marketing plan for your new business is one critical aspect in building a business that survives its first year.
Is using your product or service related to social status, everyday living, convenience or something else?
You should know and understand why a customer would choose you over a competitor. Identify Your Target Customers Target customers are different than your target market, and you should really know both.
TARGET MARKETThe Cambridge Strategy Group (CSG), L. Unlike traditional management consulting firms that focus on analyzing problems for large customers, CSG works exclusively with small business clients to develop concrete, practical, short-term action plans that will start moving their businesses in the right direction.
Prize Distribution In School Essay - Marketing Plan For Business Plan
The Cambridge Strategy Group takes advantage of the small business owners' need for marketing and management skills, the scarcity of those skills in the market, and the lack of any major competitor owning the concept of "small business consulting."MANAGEMENTThe CSG management team brings a broad range of industry experience and training from both energetic small firms and experienced industry leaders. Gordon, Executive Director: John has worked in marketing, business development, and corporate strategy for a number of small and large firms, including EMC Corporation, IBM Corporation, and Larscom, Incorporated.John's participation on the North Carolina Council for Entrepreneurial Development, plus his experience providing consulting services to small businesses, catalyzed the formation of the Cambridge Strategy Group. Kuczaj, Managing Director: Todd has worked in Internet consulting, Web design/development, financial services, and media publications for a variety of companies, including a Big Five consulting firm, Integrated Information Systems Inc., Sun America Securities Inc., and the Foothills Sentinel.Todd currently functions as an experienced analyst for a Big Five consulting firm, working with Fortune 100 and Fortune e-50 firms to solve their business and technology issues. Cordell, Managing Director: Ben has worked in business development, account management, systems engineering, marketing, and product development positions at Life Serv and ONE Co. Ben currently functions as a corporate strategy specialist at Life Serv, discovering and developing merger, acquisition and strategic partnership opportunities.As we determine how best to enlarge our operations, we will consider expanding the business as defined in our strategy.UNIQUENESS OF SERVICESThe Cambridge Strategy Group is focused specifically on helping small and emerging businesses maximize their potential for success.This would most likely need to cover at least one year's salary for each of the three managers.Additionally, funding for initial marketing projects would help to ensure that the firm could establish a claim to the "small business consulting" concept in the target market.Last year the doors to 898,000 new businesses opened in the United States for the first time.Most of these businesses were created by entrepreneurs who envisioned an opportunity to develop a new product or service, and pursued that vision in search of independence and financial reward.Any capital that the firm obtains will be used to promote the "small business focus" of the firm and cover basic operational costs.For the firm to realize its full potential, the founders would require compensation equivalent to full-time employment while pursuing initial clients and creating a backlog of work requests.