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Confidentiality Agreement

The undersigned reader acknowledges that the information provided by


_________________________ in this marketing plan is confidential; therefore, reader agrees not
to disclose it without the express written permission of _________________________.

It is acknowledged by reader that information to be furnished in this marketing plan is in all


respects confidential in nature, other than information which is in the public domain through other
means and that any disclosure or use of same by reader, may cause serious harm or damage to
________________________.

Upon request, this document is to be immediately returned to _________________________.

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Signature

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Name (typed or printed)

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Date

This is a marketing plan. It does not imply an offering of securities.


Table Of Contents

1.0 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

2.0 Situation Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2


2.1 Market Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . .2
2.1.1 Market Demographics . . . . . . . . . . . . . . . . . . . . .3
2.1.2 Market Needs . . . . . . . . . . . . . . . . . . . . . . . . .3
2.1.3 Market Trends . . . . . . . . . . . . . . . . . . . . . . . .4
2.1.4 Market Growth . . . . . . . . . . . . . . . . . . . . . . . .5
2.2 SWOT Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
2.2.1 Strengths . . . . . . . . . . . . . . . . . . . . . . . . . .5
2.2.2 Weaknesses . . . . . . . . . . . . . . . . . . . . . . . . .6
2.2.3 Opportunities . . . . . . . . . . . . . . . . . . . . . . . . .6
2.2.4 Threats . . . . . . . . . . . . . . . . . . . . . . . . . . . .6
2.3 Competition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6
2.4 Product Offering . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
2.5 Keys to Success . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
2.6 Critical Issues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7

3.0 Marketing Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7


3.1 Mission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
3.2 Marketing Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . 8
3.3 Financial Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
3.4 Target Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
3.5 Positioning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
3.6 Strategies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
3.7 Marketing Mix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
3.8 Marketing Research . . . . . . . . . . . . . . . . . . . . . . . . . . 10

4.0 Financials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
4.1 Break-even Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . 11
4.2 Sales Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
4.3 Expense Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

5.0 Controls . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
5.1 Implementation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
5.2 Marketing Organization . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.3 Contingency Planning . . . . . . . . . . . . . . . . . . . . . . . . . 15
The Basket of Goodies

1.0 Executive Summary

The Basket of Goodies (BOG) is a premier gift basket manufacturer and retailer. BOG is
concentrating on making gourmet gift baskets out of a wide range of high quality ingredients. In
addition to having several flagship baskets, BOG will also offer the option of a custom basket,
allowing the customer to choose the ingredients themselves.

BOG will be selling to individuals as well as corporations. Initially the bulk of BOG's business will be
generated from individuals, but as time passes, a growing percentage of sales will come from
corporations .

While there are many different competitors in the market now, they are larger in size and much
less flexible. BOG will be able to meet customer demands through superior products, customer
attention, and customer product offerings.

BOG will be raising awareness of their products through the use of a brochure and a Website. Once
a customer is interested in placing an order, they can come by the office, call in the order, or order
via our secure Website. In addition to the customer being able to pick up the basket from BOG's
office, BOG can ship it to them via UPS.

Once up and running with some momentum, BOG will be steadily producing profits. It is projected
that by December BOG will be profitable. By the end of year three, it is projected that BOG will be
generating over $5,000 in income.

Annual Sales Forecast

$120,000

$100,000

$80,000

Individuals
$60,000
Corporations
$40,000

$20,000

$0
2002 2003 2004

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The Basket of Goodies

2.0 Situation Analysis

Basket of Goodies is entering its first year of operation. BOG recognizes the importance of crafting
and following a comprehensive marketing plan. BOG offers the market a high quality, gourmet gift
basket at a reasonable price. In addition to having four stock baskets, BOG will allow customers to
customize their own basket from a list of possible ingredients.

2.1 Market Summary

BOG possess good information about the market and knows a great deal about the common
characteristics of the prized customers. BOG will leverage this information to better understand
who is served, their needs, and how BOG can best communicate with them. BOG recognizes that
this is an evolving process that requires multiple intervals of attention throughout the year.

Target Markets

Individuals
Corporations

Table 2.1: Target Market Forecast

Target Market Forecast


Potential Customers Growth 2002 2003 2004 2005 2006 CAGR
Individuals 8% 14,258 15,399 16,631 17,961 19,398 8.00%
Corporations 12% 298 334 374 419 469 12.01%
Total 8.09% 14,556 15,733 17,005 18,380 19,867 8.09%

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The Basket of Goodies

2.1.1 Market Demographics

The profile for BOG's customer consists of the following geographic, demographic, and behavior
factors:

Geographics

• The immediate geographic target is the city of Stevens, TX with a population of 213,000.
• A 35-mile radius will be served.
• The total targeted population is 14,556.

Demographics

• 69% female, 31% male.


• Ages 28-65.
• Have a household income over $45,000.
• Corporate customers have between 15-85 employees.

Behavior Factors

• Purchase gifts regularly.


• Prefer to give gifts that are somewhat practical or at least will be used as opposed to being
shelved.
• Appreciate the element of presentation in gifts that they give.
• Enjoy spending some of their discretionary income on gifts for friends.
• Recognize the value of giving a gift to an employee and the invaluable goodwill that the
unsolicited/unexpected gift generates.

2.1.2 Market Needs

Bassket of Goodies is providing its customers with very attractive gourmet food baskets. These
baskets come in several standard themes as well as the option of creating a custom basket. BOG
seeks to fulfill the following benefits that are important to customers:

• Selection- BOG offers many different stock baskets as well as the opportunity for the
customer to choose the perfect ingredients for their basket.
• Price- BOG operates on a low overhead model, allowing them to generate fair margins and
competitive prices.
• Customer Service- BOG recognizes that superior customer service is needed in order to
gain market share and be competitive.

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The Basket of Goodies

2.1.3 Market Trends

The market trend for the gift basket industry has been one of consolidations and mergers with
larger companies purchasing smaller local companies. This trend can be rationalized for several
reasons:

• Economies of scale allows larger companies to generate better margins than small, local
players.
• Brand equity/recognition is powerful within the industry as many customers choose their
basket maker from popular, well-known companies, such as Hickory Farms, based on name
alone. Therefore it makes sense for larger companies to grow in number of
franchises/outlets and geographic coverage.

Market Forecast

20,000

18,000

16,000

14,000

12,000

10,000
Individuals
Corporations
8,000

6,000

4,000

2,000

0
2002 2003 2004 2005 2006

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The Basket of Goodies

2.1.4 Market Growth

In 2000, the national gift basket industry had $806 million in sales. The market is growing at a
steady 4% per year. This growth can in part be attributed to an increase in product offerings. For
years the gift baskets from most of the larger companies were fairly utilitarian and plain; some
people got fruit baskets, others got meat, cheese, and cracker baskets. Many of the companies
have tried to generate growth by offering a wider selection of baskets.

Target Market Growth

12.00%

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%
Individuals Corporations

2.2 SWOT Analysis

The following SWOT analysis captures the key strengths and weaknesses within the company, and
describes the opportunities and threats that face BOG.

2.2.1 Strengths

• Vendors who have local, high quality ingredients.


• Artistic flair that provides BOG with basket appearances that are unmatched.
• Low overhead that provides excellent margins and flexibility in manufacturing.

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The Basket of Goodies

2.2.2 Weaknesses

• As a home-based start-up, if sales really spike it might be difficult to fulfill a large increase
in orders.
• A limited marketing budget to generate awareness of BOG and its service/product offerings.
• A limited number of hours a day limits time that can be spent on sales/business
development relative to order fulfillment.

2.2.3 Opportunities

• Participation in an industry that is generally quite steady in terms of sales.


• The ability to have a marginal decrease in the spread of fixed costs relative to each basket
as sales increase.

2.2.4 Threats

• Competition from industry gorillas like Hickory Farms or substitute competitors like FTD.
• The industry is attractive, in part, because of its simplicity, creating an incentive for new
entrants into the market.

2.3 Competition

There are many different forms of competition in the gift basket business:

1. Similar gift basket type retail stores- There are several of these stores located in
Stevens. These competitors offer a wide range of gift baskets, however, none of them are
concentrating on the higher end, gourmet products lines.

2. Nut/fruit companies- There are several stores that concentrate on nuts and or fruit
baskets.

3. Bath product gift basket companies- There is currently one gift basket company that
concentrates on bath products. Bath products have a slightly smaller recipient market,
since typically women are most appreciative of bath products gifts, though more and more
men are aware that this is the gift to give.

4. Regional gift basket- There is one retailer that sells gift baskets composed of local
products. These types of baskets tend to appeal to people that are buying gifts for people
that are not from this area.

5. Candy gift baskets- There are a couple of candy stores that offer a candy gift basket as
one of their products . Similar to the bath products basket, candy typically appeals to
women a bit more than to men.

6. Florists- Flowers are a tried and true product that competes with gift baskets. Once again
flowers tend to appeal to women more so than men.

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The Basket of Goodies

2.4 Product Offering

Basket of Goodies sells gift baskets that they put together themselves. BOG's theme for the
baskets is gourmet. Their premier baskets are a smoked fish basket, a fruit basket, a pasta dinner
basket, and a picnic basket that has caviar, crackers, fruit, and smoked fish. BOG also offers a
custom basket that allows customers to pick items from a list and BOG will assemble the basket
with their custom ingredients.

For the custom baskets, BOG will provide a list of options grouped into four different categories.
The customer then chooses two items from each of the four categories and the gift basket is made
for them.

In addition to previously mentioned production baskets, BOG will typically have one or two
specials, seasonally based.

2.5 Keys to Success

The keys to success are:

• Customer service.
• Flexibility.
• Competitive or superior product offerings.

2.6 Critical Issues

BOG is still in the speculative stages as a start-up business. Its critical issues are:

• Control start-up expenses.

• Continue to take a modest fiscal approach, expanding in size only when it is no longer
possible to fulfill orders at the current headcount. It is important to do this judiciously
because if the business is expanded and demand suddenly falls, BOG could be subjected to
severe financial distress.

• Generate awareness and customer loyalty for repeat business and referrals.

3.0 Marketing Strategy

The marketing strategy will seek to use several techniques to increase awareness of Basket of
Goodies in the city of Stevens. The first method will be a Website. The second will be the use of
brochures. These two methods will target the individual customers. The corporate customers will
be targeted through a networking campaign, leveraging owner Susan Presento's contacts from her
previous employers.

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The Basket of Goodies

3.1 Mission

Basket of Goodies' mission is to create the finest gift baskets available. We exist to attract and
maintain customers. When we adhere to this maxim, everything else will fall in to place. Our
products and services will exceed the expectations of our customers.

3.2 Marketing Objectives

• Increase repeat customers by 7% per quarter.


• Increase the number of corporate clients by 6%.
• Decrease the marginal per customer acquisition costs by 8% per year.

3.3 Financial Objectives

• Profitability by the end of year one.


• Reduce the labor costs for order fulfillment by 3% a year.
• Increase sales enough to warrant hiring an employee.

3.4 Target Markets

BOG has two distinct groups of customers, individuals and corporate customers:

1. Individuals- The individuals are people who are looking to give a friend, relative,
colleague, etc., a gift basket as a gesture of goodwill. These customers typically do not
have a specific type of gift basket in mind when they look at BOG's product offerings, they
just want to give a gift.

2. Corporate- The corporate customer is typically buying the basket for a colleague at work
either as a sign of appreciation or for a special event or as a thank you for a customer. The
corporate market can be further broken down to banks, health care, employment gifts, real
estate, apartments, special events/promotions, corporate headquarters, hotels/vacation
resorts, and automobile dealerships.

3.5 Positioning

Basket of Goodies is positioning itself as an upscale manufacturer of gourmet gift baskets through
the introduction of several production baskets as well as custom options. BOG will achieve this
positioning by leveraging their competitive advantages.

The competitive advantage is based on two factors, low overhead which supports reasonable
prices, and an unrelenting desire for the highest quality product and service.

1. Overhead- BOG's overhead is particularly low because it is a home based business. Most
of BOG's competition is based in retail shopping areas. While they receive more walk by
traffic and therefore higher sales numbers, their rent is a very large monthly expense. BOG
avoids this large expense by having the business run out of owner Susan Presento's home.
Additionally, Susan will be using a modified version of JIT (just in time) inventory and
assembling. Susan's husband passes by 90% of Susan's vendors on his way home from
work so Susan is able to order inventory when she needs it and have her husband pick it up
on the way home from work. This significantly lowers shipping costs and carrying costs for

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The Basket of Goodies

inventory. BOG will have some of the standard baskets in stock for walk by orders, but will
try not to have large amounts in overhead.

2. Unrelenting desire for the highest quality product and service- Let's face it, this
market space is already crowded and a mediocre gift basket service is not going to fly, so
Basket of Goodies must have some sort of differentiating feature that lets it stand out.
Susan only uses the finest quality ingredients and can afford to because of her low
overhead. Additionally, she always follows the maxim that the customer must be 100%
satisfied. That means she is willing to loose money on an occassional order, if necessary, to
please a customer, confident that in the long run this is a wise business decision.

3.6 Strategies

The single objective is to position Basket of Goodies as a manufacturer of unique, attractive,


gourmet gift baskets for individuals as well as corporate customers. The marketing strategy will
seek to create customer awareness regarding the product offerings, develop the customer base,
and work toward building customer loyalty and referrals that will significantly decrease customer
acquisition costs.

BOG will seek to communicate the message that they offer a higher quality, gourmet alternative
for gift baskets relative to the baskets currently available. This message will be communicated
through various methods, tailored to each target market. The first method will be the use of a
Website. The Website will have product information, company information, as well as ordering
information and order taking. The site will be useful to both targeted groups, individuals as well as
corporate customers.

The second method will be brochures, primarily marketing to individuals. These brochures will be
dispersed through many different sources.

The last method of communication is networking and it is primarily for the corporate customer.
Before founding Basket of Goodies Susan worked within the Human Resource Department of
several larger corporations and has developed a large list of contacts. Susan will leverage these
personal/professional relationships to generate business for BOG. Since she has worked within the
HR departments before, she is quite familiar with the buying habits and decision making processes;
key knowledge for generating corporate sales.

3.7 Marketing Mix

BOG's marketing mix consists of the following approaches to pricing, distribution, advertising and
promotion, and customer service.

• Pricing- BOG will be charging a per basket fee for the stock production baskets. Regarding
the custom baskets, a price can be quoted once the customer decides on the ingredients
that they want.

• Distribution- While the orders for the baskets can be placed on our secure Website, by
phone, or at the office, the distribution of the product will occur from the office and can be
shipped to any continental U.S. address.

• Advertising and Promotion- A Website, brochures, and networking will be used to raise
awareness and generate sales.

• Customer Service- Following benchmark companies such as L.L. Bean, Eddie Bauer, and
Siemens, customer service will be a priority. Susan truly believes that reputation is
everything.

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The Basket of Goodies

3.8 Marketing Research

The informal market research began five years ago when Susan was purchasing a gift basket for a
friend. She did not have the time to make her own basket so she called a few different places to
get quotes. Over the next few years she purchased several more baskets from established
companies while keeping the idea in the back of her head that she might start her own basket
company. With this idea she analyzed the different vendor's offerings.

While working on the initial business plan for BOG, Susan held two focus groups, each with seven
to nine people, to determine customer preferences in regards to gift baskets. The focus groups
explored the different preferences that the people held in regards to gifts and gift baskets.
Although Susan had a list of questions already drawn up that she asked both groups, she also had
time set aside where there could be a free flow of discussion. The focus groups proved to be a very
worthwhile exercise giving Susan valuable insight into the participant's minds as well as confirming
a number of assumptions that Susan held. Overall, this market research confirmed and
strengthened the BOG business and marketing plan.

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The Basket of Goodies

4.0 Financials

This section will offer a financial overview of Basket of Goodies as it relates to the marketing
activities. Break-even analysis, sales forecasts, and expense forecasts will all be addressed.

4.1 Break-even Analysis

The Break-even Analysis indicates that $5,600 will be needed in monthly revenue to reach the
important break-even point.

Break-even Analysis

$4,000
$3,000
$2,000
$1,000
$0
($1,000)
($2,000)
($3,000)
($4,000)
$0 $1,890 $3,780 $5,670 $7,560 $9,450

Monthly break-even point

Break-even point = where line intersects with 0

Table 4.1: Break-even Analysis

Break-even Analysis:
Monthly Units Break-even 160
Monthly Sales Break-even $5,600

Assumptions:
Average Per-Unit Revenue $35.00
Average Per-Unit Variable Cost $10.00
Estimated Monthly Fixed Cost $4,000

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The Basket of Goodies

4.2 Sales Forecast

The first month will be spent setting up the business. It is unlikely that there will be much sales
activity. In addition to dealing with some legal and accounting issues, equipment will need to be
purchased, an office created, and an assembly room/inventory room set up in the basement.
Susan will also be developing a system for assembly (work flow processes) within the first month.

Susan will also be working on having the Website designed and set up. This will require a bit of
time spent with her Web designer to perfect the look and feel of the site as well as to set up BOG
as an online e-commerce merchant. Susan plans to use 1st-At-The-Top.com Internet and E-
commerce Consulting, www.1st-At-The-Top.com, to design her secure Website, and assure strong
search engine placement on the Internet.

Month two - three will begin to see some sales activity. BOG recognizes that it will take a bit of
time to really ramp up the sales. Susan will be doing a lot of networking in an attempt to spread
awareness about BOG's products and services.

Because Susan's husband will be helping out with picking up some of the materials, Susan will not
need an employee until near the end of year one.

Monthly Sales Forecast

$12,000

$10,000

$8,000

$6,000 Individuals
Corporations
$4,000

$2,000

$0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Table 4.2: Sales Forecast

Sales Forecast
Sales 2002 2003 2004
Individuals $33,640 $64,575 $78,452
Corporations $9,905 $28,744 $31,458
Total Sales $43,545 $93,319 $109,910

Direct Cost of Sales 2002 2003 2004


Individuals $11,438 $21,956 $26,674
Corporations $3,368 $9,773 $10,696
Subtotal Cost of Sales $14,805 $31,728 $37,369

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The Basket of Goodies

4.3 Expense Forecast

The marketing expenses will be budgeted to allow BOG to spend an increased amount during the
first quarter in order to raise visibility for this start-up company. The expenses will then decrease
and level off for the second and third quarter and will increase significantly during the last quarter
in anticipation for strong holiday sales.

Monthly Expense Budget

$1,400

$1,200

$1,000

$800 Website development/ maintenance


$600 Brochures

$400
Networking

$200

$0

Table 4.3: Marketing Expense Budget

Marketing Expense Budget 2002 2003 2004


Website development/ maintenance $1,510 $1,000 $1,000
Brochures $1,090 $800 $900
Networking $1,840 $1,900 $2,000
------------ ------------ ------------
Total Sales and Marketing Expenses $4,440 $3,700 $3,900
Percent of Sales 10.20% 3.96% 3.55%
Contribution Margin $24,300 $57,891 $68,641
Contribution Margin / Sales 55.80% 62.04% 62.45%

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The Basket of Goodies

5.0 Controls

The purpose of the marketing plan is to provide the organization with a long-term guide for
growing the business. The plan will also serve as a functional short-term document that
enumerates the activities that must take place. The following areas will be monitored to gauge
effectiveness:

• Marginal order fulfillment costs.


• Annual and monthly repeat business.
• The number of complaints or problems as a percentage of overall sales.

5.1 Implementation

The following milestones identify the key marketing programs. It is important to accomplish each
one on time and on budget.

Milestones

Marketing plan completion

Website development

Website maintenance

Brochure production

Brochure dissemination/ printing

Networking activities

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Table 5.1: Milestones

Milestones Plan
Milestone Start Date End Date Budget Manager Department
Marketing plan completion 1/1/02 2/1/02 $0 Susan
Website development 2/1/02 4/30/02 $600 Susan
Website maintenance 2/1/02 12/31/02 $660 Susan
Brochure production 2/1/02 2/15/02 $500 Susan
Brochure dissemination/ printing 2/15/02 12/31/02 $200 Susan
Networking activities 1/1/02 12/31/02 $1,800 Susan
Totals $3,760

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The Basket of Goodies

5.2 Marketing Organization

Susan will be responsible for all of the marketing activities. She has purchased PageMaker to
generate brochures and will outsource the Web development to 1st-At-The-Top.com Internet and E-
commerce Consulting, www.1st-At-The-Top.com.

5.3 Contingency Planning

Difficulties and risks:

• Deliberate actions by a large competitor with the express goal of driving Susan out of
business.
• Problems with vendors that create fulfillment issues.
• Problems generating visibility.

Worst case senarios may include:

• Determining that there is not sufficient business to support BOG on an ongoing basis.
• Some sort of product liability or negligence action that necessitates closure of the
operation.

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Appendix: The Basket of Goodies
Table 4.2 Sales Forecast

Sales Forecast Plan


Sales Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Individuals $0 $0 $1,245 $1,854 $1,987 $2,854 $3,254 $3,475 $3,654 $3,758 $4,014 $7,545
Corporations $0 $0 $75 $187 $421 $564 $745 $887 $998 $1,014 $1,645 $3,369
Total Sales $0 $0 $1,320 $2,041 $2,408 $3,418 $3,999 $4,362 $4,652 $4,772 $5,659 $10,914

Direct Cost of Sales Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Individuals $0 $0 $423 $630 $676 $970 $1,106 $1,182 $1,242 $1,278 $1,365 $2,565
Corporations $0 $0 $26 $64 $143 $192 $253 $302 $339 $345 $559 $1,145
Subtotal Cost of Sales $0 $0 $449 $694 $819 $1,162 $1,360 $1,483 $1,582 $1,622 $1,924 $3,711

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Appendix: The Basket of Goodies
Table 4.3 Marketing Expense Budget

Marketing Expense Budget Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Website development/ maintenance $600 $60 $60 $60 $60 $60 $60 $60 $120 $250 $60 $60
Brochures $500 $0 $0 $0 $100 $0 $0 $0 $100 $120 $130 $140
Networking $150 $150 $150 $150 $150 $150 $150 $150 $150 $160 $170 $160
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
Total Sales and Marketing Expenses $1,250 $210 $210 $210 $310 $210 $210 $210 $370 $530 $360 $360
Percent of Sales 0.00% 0.00% 15.91% 10.29% 12.87% 6.14% 5.25% 4.81% 7.95% 11.11% 6.36% 3.30%
Contribution Margin ($1,250) ($210) $661 $1,137 $1,279 $2,046 $2,429 $2,669 $2,700 $2,620 $3,375 $6,843
Contribution Margin / Sales 0.00% 0.00% 50.09% 55.71% 53.13% 59.86% 60.75% 61.19% 58.05% 54.89% 59.64% 62.70%

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