Name: Date:

The Teen Entrepreneur

Project 10 Worksheet

Marketing Plan

Instructions

Using Katie's Marketing Plan as a model, apply the 4 P’s (product, place, price, and promotion) of marketing presented below to your business in order to create your Marketing Plan. Answer each of the questions below.

  1. Product

1.Research the competitors in your local area (that specialize in the same type of business as yours) to generate a list of products and services they offer. Remember to check out your competitors’ websites, social media platforms, and marketing literature such as brochures, direct mail, and promotional offers. Record a list of your competitors’ products and services below.

2.Based on the research you conducted above, what products and services will you offer through your business?

  1. Place (Location)

1.Where will the day-to-day operations of your business be conducted?

  1. Price

1.What is the estimated cost of producing each product and service offered in your product line? Fill in the table below with your answers.

Product/Service / Estimated Cost

2.In the space below, describe how you arrived at the estimated cost of each item listed above.

3.In the table below, list the products that you offer and what three of your competitors charge for each item. In the column labeled “My Price,” fill in the price that you will charge for each item.

Product/Service / Price for
Competitor #1 / Price for
Competitor #2 / Price for
Competitor #3 / My
Price
  1. Promotion

1.In the table below, list several different methods you can use to advertise your business and the cost associated with each method. To read more about advertising methods and their prices, check out your local Small Business Administration (SBA) office or research the website at .

Advertising Method / Cost
1.
2.
3.
4.
5.
6.

2.Based on the startup funds you have available, what advertising methods will you use? List them in the space below.

3.What marketing schedule will you follow for the advertising methods on the previous page? Create your marketing calendar in the space below.

  1. Social Media Tools

1.What social media tools will you use to reach your goals? Complete the table below with your answers.

Social Media Tool / How You Will Use It
  1. Social Media Execution

2.How often do you want to use social media?

3.What is your availability and how often will you be able to use social media?

4.What is your ideal editorial calendar for posts (e.g., biweekly, weekly, monthly, bimonthly, etc.)?

  1. Social Media Operation Costs

5.Using the Internet to research, determine the estimated cost of each social media tool. Complete the table below with your answers.

Social Media Tools / Estimated Cost in Dollars / Estimated Cost in Time

6.Describe how you arrived at the estimated cost of each item listed above.

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