Marketing and Advertising Consulting Firm - Example

BUSINESS PLAN FOR MARKETING AND ADVERTISING CONSULTING FIRM STUDENT’S NAME: INSTITUTION: INSTRUCTOR’S NAME: DATE: Executive summary A business plan should be able to generate profits because it contains what the business strive to achieve, a business plan that does not lead an entrepreneur to achieve their objectives is not properly implemented. Pioneer is a marketing advertising and consulting firm that provides all the needed information for marketing and advertising. The clients who seek consultant advices form pioneer company are rest assured to get what they want. The company integrates the aspects such as strategic planning and tactical implementation. Situation analysis The company intends to develop a strategy to ensure that clients get their best and in this case, pioneer will provide a range of competitive choices that will benefit the small businesses who cannot afford the cost of conducting marketing services. Pioneer targets small businesses because they are able to establish a strong relationship with the customers. Customer needs According to Pioneer Company, small businesses are their main customers since they have specialized in marketing and advertizing their products and they do this through various means of creating awareness. When clients need a marketing consultant, they will contact Pioneer for their preferred services. Research shows that most small businesses fail to achieve their objectives because they do not consider the importance of appropriate business plan. Therefore pioneer company is there to help such clients to achieve their objectives through developing a business plan (SC Perry .2001). Vision and mission statement Mission; the core intention of pioneer company is to work effectively and closely with their customers to ensure they meet their goals when it comes to marketing. The company offers support, and they are committed to communicating appropriate ideas in a cost effective manner. Visions; To advocate minimal expenses on clients through the use of technical expertise in developing the business plan Forming a business team with the clients Timely development of business plans for every client Develop new strategies for clients thus proving a high-quality services. Aims and objectives Pioneer company aims at scaling the heights through efficient service provision for their clients; in that case the objectives of customer relationship and customer care will be achieved. Since the clients are the evolving small business. The company aims at nurturing their loyalty through enabling them to prepare a successful marketing and advertising plans. The company has the main objectives of making profits and expanding its business to the international level whereby it will become a big consultancy firm where all levels of companies will seek for marketing and advertising consultations. It will, therefore, achieve this through competency of its staff and new innovative ideas. Marketing, operations, financial plans and strategies Pioneer company intends to specialize on two types of marketing whereby it will focus on small business that is starting up and the existing small businesses. For the small start up businesses, the company intends to ensure that they get their marketing plans and advertising operations at an affordable price because these businesses are small, and they do not have enough capital to establish their own marketing and advertising plan. Also they lack experience and expertise. For the existing small business, the company will ensure that they achieve their targets of expansion, since such businesses often lack competence in panning for marketing new products that will lead to expansion of their business (MacMillan, 1987). The pie chart below shows the proportion of serving the two market segments. Pioneer has some strategy to concentrate on the two market segments and the table below indicates their future strategic analysis Management of Pioneer Company The company plans to have tow managers who are qualified, and they will deliver their best. Other team members will be three, and they will be selected according to their achievements and their competency in their past records of performance. Each of them will be awarded according to their post and skills. The company intends to expand its business after is achieved its objectives of providing the best to their customers. It will, therefore, ensure it meets the legislative requirements through considering the following The company will comply with the rules and regulations of any business and therefore ensuring confidentiality with their clients. The company will observe all the legal requirements provided by the legal institution basing on the business and how to operate it. The company will also ensure that their services will not affect the community as well. This involves the ability of the company to consider its reputation by not advertising and organizing for business plans for the illegal purpose. Specialist services to be required The company will ensure they have competent employees, and they will higher specialist in their field of marketing whereby their consultant services will be accomplished through research and evaluation of the past performance of the company. Also, the company will provide another extra service to attract its client such as follow up on the marketing and advertising for their clients and ensure that they have achieved their marketing goals. The company intends to partner with other stakeholders only after it has achieved its objectives of attaining international competitive status. It will, therefore, partner with stakeholders to expand its business goals. The strategies to engage in this business rely on the fact that there are many small businesses that are established every day and each business has a unique idea and hence through pioneer marketing consultation, the small businesses will be able to develop loyalty and build the company image. Other strategies include risk management whereby the company will implement risk management plans through forecasting on their future performance, analyzing the rate of small business establishment and striving to attain competitive advantage. By doing this, the company will be able to detect any risk and manage them through their risk matrix. Performance measurement will be measured four times in a year, and this will involve the development a performance measurement plan for the employees. Measuring performance of the company has to be done so as to ensure that all the strategies are implemented and also the employee performance will determine whether the companies will achieve its objectives or not ( Kaplan et al,.2009). Reference AM Hormozi, GS Sutton, RD McMinn. 2002.Business plans for new or small businesses: paving the path to success. Management .emeraldinsight.com IC MacMillan, PN Narasimha.1987.Research notes and communications: Characteristics distinguishing funded from unfunded business plans evaluated by venture capitalists. Strategic Management Journal, Wiley Online Library JE Lange, A Mollov, M Pearlmutter, S Singh .2007. Pre-start-up formal business plans and post-start-up performance: A study of 116 new ventures .Taylor & Francis SC Perry .2001. The relationship between written business plans and the failure of small businesses in the US. Journal of small business management, - Wiley Online Library SN Kaplan, BA Sensoy, P Strömberg .2009. Should investors bet on the jockey or the horse? Evidence from the evolution of firms from early business plans to public companies. The Journal of Finance, Wiley Online Library Read More