MARKETING PLAN AND BUDGET

Feedback Week 3

You described the target market for your company for the most part. Your description was less about the target market and more about your cafe.  For example, "Topmark Café has an advantage over its market, giving it some benefits because the business will provide the assorted snacks to the students learning in schools and employees residing and working in the area." Is about your Cafe, not the target market.  The target market for the Cafe is the local neighborhood from students in the (elementary?High School? College?) to the employees of the (small busineses? Large Corporations? ) and the residents of the community, mostly (retired people? young professionals? working families?).  Answering the questions will give you a better description of the customers for the Cafe.  You need to go through each of the categories and identify the people, not your business.  Does this clarify the target market review?

You included a partial demographic description. You should also mention more details related to the lifestyle, psychographic, purchasing patterns, and buying sensitivities of your proposed target market. The more you know about the customers you are trying to serve, the better you can serve their needs, which can lead to an increase in sales. Check out this link with some examples of target market descriptions.  http://www.ccsfmarketing.com/sample-target-market-descriptions.html.  You will use the information about target market in Assignment 2. Check the replies in the discussions. You may find some great ideas to incorporate in the business plan.

Feedback Week 4

Please check my feedback provided as a rely to your discussion response and repost the Excel document.

There are many different ways to promote a product or a service but we need to be mindful of where our target market can see these messages based on their characteristics (lifestyle, for example) and also the budget we have as a startup. With a limited budget we need to focus on those marketing vehicles which will give us the best value (exposure vs. cost). All of the marketing expenses must be reflected in the marketing budget document.