MarketLinked - Skills Transfer - Workshop 2

Workshop Two will be a structured, two-day exercise. The output will be a realistic Marketing Plan for each participant that can guide its development for up to a three year period, incorporating the MarketLinked integrated company development programme.

The Workshop will build on the Company Report Form completed by each participant after Workshop One, which constitutes a detailed company self-analysis exercise. Satisfactory completion of this will have led management of each participating company to recognise its relationship with existing markets and outlined the competitive and operational challenges to be addressed to enable it grow satisfactorily.

Market Research and Workshop Two

Each company will receive both a written and verbal briefing on the market research undertaken in Step Three. A general report will be provided and specific feedback given to each individual company.

The research findings will provide a sharp, market based perspective against which to test the conclusions of the Company Report Form and re-adjust the focus of the identified challenges. This market perspective takes the exercise from relatively subjective analysis to an actual and objectively verifiable market focus.

Structure of Workshop Two

As in the previous skills transfer exercise, the methodology in Workshop Two will include:

* Formal training sessions on specific aspects of Marketing Plans.

* Peer group interaction and group sessions.

* Structured learning exercises and case studies.

One to one advice.

Marketing Plans

No specific marketing plan format is projected. It will evolve for each participant in interaction between the faculty and company principals, informed by the Company Report Form and the market feed back. The plans will, however, be relatively simple and pragmatic. A complex “Harvard Business School” type document is unlikely to be appropriate for the participating SMEs which operate in markets that are both less structured and less over-supplied than their European or North American counterparts.

Plan preparation would address key elements of any such document, which include:

* Target markets, including an outline description of the proposed market initiative.

* Industry trends that will affect business growth and development.

* Goals of the marketing effort. The goals expressed should be both specific and measurable.

* Strategies to achieve the goals.

* Budget. The marketing budget should be specified so as company principals know how much they have to spend. It must be realistic and informed by accurate analysis.

* Marketing tools, based on the elements of the marketing mix, i.e. product, price, distribution and promotion.

* Competition. Drawing on the analysis of competition undertaken in Workshop One and the Company Report Form, the plan should accurately describe a number of the top competitors.

* Key assumptions.

* Strengths and weaknesses of the company.

* An implementation schedule, or work plan. This will clearly state what tasks will be undertaken, at what time and who will be responsible.

Preparation for the sales mission

One session will be specifically dedicated to preparation for the sales mission. This will emphasise the importance of being prepared in terms of having samples, prices, knowledge of sanitary and other regulations, logistical options, brochures and promotional materials. Appropriate advice and assistance can be given to participants.