Marketing Plan (Project about product) Essay Example | Topics and Well Written Essays - 500 words

Marketing Plan (Project about product) - Essay Example This would be done by live demos as well as online advertisement. Besides, this, we are including a depreciation cost of $5000 which includes depreciation of equipment as well as that of patents and copyrights. We also need to provide after-sales support to our clients to help them use the software and troubleshoot any bugs that arise. To start the business, we are aiming to acquire funding of $500,000. As shown in the balance sheet, apart from the usual assets in the business, the major assets of the business shall be patents and copyrights on our software and the software in the inventory. It is assumed that we shall keep a ready stock of 20 ready-to-deploy software copies in our stock. Also, we are assuming that 20% of the sales will be on credit as well as 20% of the expenses will be payable by us. At the first stage, we need to define the marketing goals for our business. For our software product, we have defined specific goals that we plan to achieve from our marketing program. Since we are just starting the business, as an overall marketing goal, we want to become the pioneers of producing and selling social CRM software for manufacturers of outdoor gears. Specifically, we would like to achieve the sales figure mentioned in the financial projection in terms of both sales amount and sales units. Further, since we are launching a unique product, we do not have any existing competition. However, we can set a target for ourselves to convince at least 10% of the existing outdoor gear manufacturers in using our software. If we achieve this target, we shall be able to meet our sales projection goals. As a further step for product awareness and publicity, we would want that at least 60% of our target market is aware of our product. Once we have established these goals, we need to define measures to evaluate our performance and identify the gaps. As a further step, we need to find out the causes of these gaps. To evaluate our