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Manage Finance

Finance Companies – Tips on How to Select the Best

Finance companies are designed to provide leasing or hire purchase contract to many business owners. They are there to help you achieve your business or investment opportunities. There are many things that you need to put into consideration when you are looking for one that will provide you with the services that you need. You will need to do research since there are many finance companies that have come up in the market, making it competitive. Some of them provide funding with the aim of marketing their products and/or services.

Others are part of major banks while there are those who are members of financing and leasing associations. Since there are many finance companies out there, it is only advisable that you search for one that has a reputable background. A good reputation and the fact that the company is a member of the finance and leasing association is the kind of company you want to deal with.

When you settle for a particular finance company it is also vital that you fully comprehend the contract you have with them. It should be in agreement with any verbal or written quotation. They should openly inform you of any penalties that may be incurred in every situation of the agreement. You should avoid companies that have hidden prepayment penalties. It is important that you are aware and understand the terms and conditions of the company before you sign on the dotted line.

If you are leasing equipment from the company, ensure that it is new or in superb condition. Be aware that once you select a finance company that you are in a long term agreement. It is advisable that you go for a company that can give you the flexibility to change between the fixed and floating rates without charging you extra.

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Manage Finance

Car Finance – The Business Funding Kind When Buying Any Car

Presently there is a business funding alternative that significantly rewards car purchasers. This kind of sort associated with business finance is referred to as the car finance. Not simply is it advantageous for these customers who would like to obtain automobiles, but in addition, it advantages many finance organizations and even the vehicle producers and dealers.

Through vehicle finance, the latter are provided the possibility of having more clients buying their cars. In the situation of financing companies, they tend to be able to make significantly more in revenue by acting as middlemen in between the auto manufacturers and the customers.

There are generally 3 alternatives that a consumer may consider when purchasing by means of car financing. A prospective customer has to discuss to a funding manager whom will explain to him all the available car financing options and aid him in choosing the most suitable choice for his automobile purchasing desires.

Auto rental is the very first automobile finance choice, wherein the funding supervisor and customer agree to the terms and conditions within the deal for instance just how to utilize the automobile. With this type of alternative, the financing supervisor would be the someone to purchase the car, which means it will likely be below his name. The agreement stipulates how the purchaser is provided the total rights on the use of the car for that decided period of time, during which, he can pay the necessary vehicle rent on a monthly basis.

Second vehicle funding option is the hire purchase deal, wherein that the buyer must pay for the decided monthly installments along with other active costs and charges. The name of the purchaser will probably be placed within the title, but simply after he has settled entirely for the automobile, including all corresponding expenses. The purchaser should be aware that during the time period that he is still paying for the monthly fees, the automobile business funding company will have the ownership of the vehicle.

Finally, the 3rd alternative is the Chattel mortgage. Using this type of vehicle funding, the customer has to produce collateral to be able to have the correct quantity of loan for that vehicle of his choice. The guarantee must be movable such as bank notes, jewelry pieces along with other related non-permanent properties. Providing guarantee ensures the funding manager that the customer is not going to renege on his payments and that he will pay until total amount of the car has been given. When the consumer has fully paid, the guarantee will be provided back to him.

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Manage Finance

Financing a Business Startup? Details Matter

If you are counting on outside investors to capitalize your start up idea, the details matter. Whether you are seeking an SBA loan, talking to venture capitalists, borrowing from friends or family, or entering yourself into Shark Tank, you absolutely have to know what you are talking about before you go for the capital.

Plan the Business

Simply filling in the spaces of a business plan template doesn’t cut it. It is critical to actually plan the business. That means applying the fundamentals of business to every aspect of your business idea. You must do the homework to ensure the idea is viable, the market has room for another competitor, and that your business model will actually turn a profit. No guessing is allowed, and any assumptions must be fully explained and justifiable. The details matter — they are what separates a good idea that is tossed around for years and a growing, profitable venture.

Know the Numbers

If you are going to talk to a potential investor, you had better know the numbers inside and out. Back-of-the-napkin estimates of sales and expenses are not enough. You need to know the standard ratios for your industry and how your projections compare. You need to know the break-even point under a variety of conditions and how the variable expenses will be affected under those conditions. You must have a reasonable target for how much it costs to gain a new customer…and your explanation must make sense. Throwing around ballpark figures is usually unacceptable. You must be able to discuss and explain the details of your financial projections.

Know the Competition

You also need to do your homework on the competition and market. Know the details of who they are, what they do, and how you are going to compete. If you can’t come up with a single direct or indirect competitor, you either have not done your homework or there is no market for your product. If you are entering a crowded industry, look for unexploited niches to fill and work through the details of how and why that will work. Study the target market to find out what they do, where they go, and what else they spend their money on.

Plan the Marketing

You will need a well-developed marketing plan for how you are going to get your customers to buy. Simply placing ads in the most convenient places doesn’t usually work. Rather, consumers are so inundated with advertising that you will need to find marketing opportunities that are targeted to exactly the right people. You will need details on the reach, expected response, and cost per sale of your planned marketing activities. You should have a plan for the initial wave of marketing and how it will be evaluated as well as some back up ideas in case the results are less than stellar.

The Details are Essential

If you are planning to approach outsiders for help in funding your startup, know the details before you ask. In fact, even those using their own resources to fund a startup would benefit from digging into the details before they launch…the failure rate would drop precipitously. But going in front of potential investors raises the stakes. Smart investors will expect you to know your idea top to bottom, inside and out. Get into the details — you will have a better chance of securing financing and a better chance to succeed.

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Manage Finance

PUSH FACTORS INCREASING ROLE OF FINANCIAL INSTITUTIONS

here are several factors driving the increasing role of financial institutions (Rose & Fraser, 1988: 13), namely:

1) The increase in the income of the middle class families and individuals with incomes sufficient, especially among the middle and has a number of income for savings each year. Financial institutions provide the means favorable to their savings.

2) The rapid development of industry and technology: Financial institutions have demonstrated and have the ability to meet all the needs of capital and the industrial sector funds are usually sourced in bulk and savers.

3) The amount denominated financial instruments make it difficult to gain access to small savers. There are some interesting types of securities and loans in the money market can not be entered or acquired small savers due to such a large denomination. However, by collecting funds and many depositors, financial institutions can provide opportunities for small savers to acquire financial instruments interest.

4) Economies of scale and scope in the production and distribution of financial services By combining resources in producing various kinds of financial services in large numbers, the service cost per unit can be reduced as low as possible, which gives financial institutions a competitive edge against other parties that offer financial services

5) Financial institutions sell services unique liquidity, reducing the cost of liquidity for its customers. Uncertainty of cash flows the company’s business units and individuals, will jeopardize their condition when not in a liquid state when the cash is needed, so it can be subject to fines (penalty cost). To meet the needs of financial institutions selling liquidity services, such as deposits.

6) Long-term Benefits Financial institutions can obtain funding or borrow money and depositors with interest rates relatively lower then utilized loan with a higher interest rate for a longer period of time to the debtor, gains or spread between the cost of funds on the one hand and loan interest rates tend to move together, up or down..

7) the risks of a smaller: Supervision and regulation of the government and the insurance programs cause risks on deposits at financial institutions become smaller and other investments.

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Manage Finance

Quick Guide On Financing Your Business

Even the most attractive and lucrative business opportunity can be unsuccessful if you have insufficient business financing to continue on with the deal. This is really important in business acquisition since unique opportunities do not come very often. Therefore, finding business purchase financing on time is the key to scoring on such business deals. It is important to be adequately prepared when planning to buy a business establishment.

Finding funding for your prospect business Business acquisition financing generally comes in two methods:

1. Debt financing – You will rely on an outside source to acquire financing for your business.

2. Equity financing – You will sell shares or stocks of your business to some investors.

It is difficult to get approved on business acquisition financing through either method because credit market conditions are tight and investors are wary about providing financing. However, if you were a knowledgeable entrepreneur, it would be a lot easier for you to get past this ordeal.

There are few key aspects that you need to know if you want to use the first method to borrow a certain amount of money. In this approach, you will demonstrate your business skills and knowledge to prospective banks and lenders. The bank or the lender will most likely ask for detailed information on the business you intend to purchase, your collateral for the loan, and the means for you to pay the money back.

In securing business acquisition financing, there are some things you need to remember. One is to have a backup plan. It is better if you get approved by as many banks and lenders as possible, for these will be handy in situations when one backs out. Another consideration is to acquire adequate business purchase financing that covers operating costs. It is highly recommended to have a plan B in case the profit decreases. Lastly, see to it that you have a detailed business plan. Remember that this is one of the many bases of banks and lenders in approving your business financing loan.

The second option is equity financing, wherein you would agree to sell shares of your business to other investors. In choosing this option, you don’t have to worry about the risks in repaying debt, but you would be giving up partial ownership and control of your business.

Keys to successful business acquisition financing The most helpful way to secure business financing is to become inventive. You may try the easiest approach of all, which is to secure seller financing. In this deal, the seller will have to wait for a certain period of time to be fully paid off. The seller will also most likely offer assistance in ensuring your business’s profitability. However, not all sellers are willing to offer this type of setup. Even if you do find a willing seller, the asking price can go as high as 5 to 25 percent.

If a bank denies your loan request, you can try to apply for a small business administration loan or SBA loan. This type of loan offers good terms and requirements, but you won’t be getting additional funds from any other source.

There are many other possibilities to explore in securing financing for your business. Try asking for help from your family and friends to fund your business. You may also opt to draw money from your 401(k) plan. Contacting franchise financing companies is also another possible option. With a lot of choices available for you, acquiring financing for business is not difficult after all, don’t you agree?

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Manage Finance

Financing Your Business When You Are Out of Options

One of the worst nightmares for a business owner is not being able to get the financing they need for their business. For many owners, the need for financing occurs when they have a cash flow emergency. Unfortunately, trying to get business financing during a cash flow emergency is very difficult.

Most cash flow emergencies happen due to the difference in timing between income and expenses. Often, expenses happen first. Income then follows. Due to this, companies need to have a cash reserve to handle expenses. However, business owners sometimes overextend themselves and get into trouble.

For example, most companies sell their products/services to other businesses on credit because large clients demand it. So companies give their client 30, 40 or 60 days to pay their invoices. However, the company itself must still meet its obligations while it waits to get paid. It has to pay suppliers. It has to pay rent. And most importantly, it must meet payroll. Sooner or later, the company may face an unexpected expense and run into trouble. It won’t be able to wait until an invoice gets paid. That is when the problems start.

Asking clients to pay sooner seldom works. Few, if any, will agree. Most clients pay their invoices in 30 to 60 days because that is how they keep their own cash flow healthy. An alternative is to look for business financing. Most business owners will focus on trying to get a business loan. The problem is that business loans are hard to get – especially if the business is in trouble. The lending institution will usually need to see audited financial statements, strong assets and excellent growth prospects. Few companies with cash flow problems meet this criteria.

A better alternative may be invoice financing. Invoice financing is specifically designed to strengthen cash flow by providing interim financing until invoices are paid. It provides the financing quickly, usually a few days after invoicing, enabling you to cover your operating expenses.

One important advantage of invoice financing is that the financing company uses the commercial credit of your client (who is paying the invoice) as part of their decision process. This makes it a viable solution for companies whose major strength is that they work with creditworthy clients. Additionally, most invoice financing lines can be setup in around a week, making it an ideal situation for companies that need funding quickly to cover an emergency.

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Manage Finance

Is The Wrong Type of Equipment Finance Company Bad For (Business) Health?

They are all the same, aren’t they? Absolutely, positively… not! We are of course talking about the equipment finance company industry in Canada and how your selection of the right partner can determine which advantages and disadvantages you can enjoy… or suffer with. We prefer positive advantages that your business can benefit with, not Canadian business financing decisions that you will suffer via the wrong choice of a lease partner for your specific needs.

Ok, so what in the heck are we talking about? Essentially there are four types of asset finance partners in the equipment leasing industry in Canada. And you thought that a lease finance company was a lease finance company!

The first type of partner is the ‘captive’ – no you are not the captive! The term refers simply to finance companies that are owned and literally situated within various manufacturing firms. When clients ask us about lease finance options and they mention specific equipment we are always reminding them to ensure they determine if the manufacturer captive finance firm offers asset financing. If they do we can assure you it is probably the best financial terms you will be able to come up with, as well as a better chance for overall approval re rate, structure and other general terms. Why is that?

It’s to do with motivation – the captive finance firm is motivated to finance and promote the sale of products using financial options such as leasing to get the products out to the marketplace. Want to know a secret that should surprise most business owners and financial managers? It’s simply that captive finance firms in a competing industry will finance their competitor’s products, often at better rates, terms and structures. That is simply because the financial transaction will probably give the competing mfr a foothold into your business to promote and sell their own products. So don’t think that a great firm such as IBM CREDIT CORP. is the only firm that will finance your products you purchase through them. Others will also!

The second main group of asset finance firms in Canada is our chartered banks – Two major banks have leasing arms that are very significant, others employ lease finance to varying degrees. Our real only comment here is that the credit bar is high and more often than not you have to be a customer of the bank to enjoy the great lease and finance structures they offer.

The third main category of the Canadian equipment leasing company market is actually the largest and most robust. It also requires the maximum amount of knowledge and navigation by Canadian business owners and financial managers. This is the Independent lease finance market, where there are tens of firms that offer lease financing based on various criteria of asset size, credit quality, geographical preference, industry specialization, etc, etc, etc.

You have a great choice with our category 3 partners, the independent finance companies. You can spend tens or hundreds of hours determining their credit criteria, additional collateral they require, the size of deals they do, the different lease structures they offer, or… alternatively.. use our final category for lease provider, the independent lease finance advisor who are knowledgeable intermediaries who know the market, have a strong reputation with lease providers, and can match the advantages you seek in an equipment finance transaction to the right provider. Subtle nuances in your overall lease structure, depending on the size of your transaction, can save you thousands of dollars and untold grief at the end of the term of your lease.

So that’s your Canadian lease market overview. Speak to a trusted, credible and experienced Canadian business financing advisor who can successful guide you through the asset finance maze.

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Entrepreneurs Manage Finance

Entrepreneurial Management – How to Create Your Favorable Financial State and Influence

An entrepreneur is one who is successful in business. To lead the kind of life you want you should command a favorable financial state and you can do this through entrepreneurial management; the ability to create a business and be your own boss. The more people own their own business in a country, the better and safer the country will be; people who have a stake in their nation and community are its best citizens. A well-run business can generate unbelievable profits, outperform any other source of gaining wealth and surely bring you fame. Build a solid foundation for a business in order to build great investment for your future.

Entrepreneurial management demands you bring to stage your wits and wisdom to make things happen in exceptional ways. Before you start your journey to riches, you must take inventory of your current situation. The goal in wealth building is to do things far beyond your current demands you motivate yourself, go outside your comfort zone to maximize your abilities and potentials. In order to succeed in what you do, you need to expand your thinking outside your reality zone and aspire for greater heights. This is an ageless and timeless concept that I discovered in the life of all successful entrepreneurs. They strengthened their ability to manage and lead the affairs of life.

Are you ready to take absolute control of things and bring yourself to a focus with the rightful state you desire? Build assurance through concentration, affirmation and harnessing your skills in line with what you aspire for. Plant the seed of greatness in your mind and fertilize it. What is the degree of your idea power? Idea is the life blood of entrepreneurship. Fill your mind with reliance and also fill it with positive thoughts that paint your passion and produces productivity. Take a detailed look at your current reality and form a clear picture of where you would like yourself and your business to be in future. Define your niche, be smart, identify your customers and give them the best of services.

 

The secret of successful entrepreneurial management is to love what you do. The entrepreneurship lifestyle is for those who have the great mind to stand tall even in difficult situations. To make things easier for you, raise people and mentor/coach them to run the business and you have time for other things. Establish a good relationship with people. Once you are making a lot of money from your business, use the income realized to invest in additional assets in order t make more passive income. If you are in a paid job, I advice you not to quit your job when you are just starting your journey towards your entrepreneurship dream. You need that salary to help leverage your way to success in your entrepreneur goal. Synergy is the sagacity you need to make things happen faster and in a greater way. Partner with like-minded visionaries. Re passionate about the business you are in. this creates motivation and keeps going even in front of difficulties. Establish your entrepreneurial management capacity and create your favorable financial state to be a person of influence in this day and age.

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Manage Finance

Financial Advisors and How to Choose Them

Don’t know stocks from bonds? Not sure how mutual funds compare to ETFs? Money can be confusing, but you can’t afford to stay confused.

When in doubt many people turn to a professional advisor. There is certainly no shortage of people willing to tell you what to do with your money, financial advice is one of the growth professions of the new millennium, though its reputation often fails to inspire confidence. This article helps you make the most of the mass of advice available.

There are various types of advisor.

Tied advisors work for a particular institution and only advise on that institution’s products. Tied advisors will not necessarily advise on the best deals available (unless they just happen to be provided by their employing institution). If (and it’s a big if) you use tied advisors, be sure to compare quotes from 3, 4 or however many you have time to go to.

 

Independent advisors advise across the whole spectrum of available products. They should find the very best deal for your needs.

Independent advisors are paid in 2 ways:

  • Commission based – advisor earns commission from products they recommend
  • Fee based – client pays advisor’s fee, advisor refunds part/all commission to client

Commission based advisors charge nothing for their time, but they may have ulterior motives (ie higher commissions) for recommendations.

Important points in making your choice:

  • Is the advisor licensed?
  • Does s/he belong to the relevant professional bodies?
  • Is s/he bound by any code of practice?
  • How long has he/she been in business?
  • Has he/she been recommended by trusted friends/associates?
  • Can he/she provide references?

Ask around. The effectiveness of a financial advisor is difficult to gauge until some time after their advice is given. Do your friends recommend a particular advisor? Why?

Advisors can assist in the financial planning and investment process, but always remember it’s YOUR money at stake. The best advice is not to delegate your money management decisions to a (disinterested) 3rd party. Instead make just a little time and effort to acquaint yourself with the available choices. And – should you choose to use one – do this BEFORE consulting a financial advisor, ie you should have a pretty good idea of what you’re looking for before the meeting. Ask your advisor difficult questions – and lots of them.

Avoid signing up for anything there and then. Always sleep on decisions, even if that means the opportunity is lost. There are few opportunities so golden that they won’t exist next morning.

Some advisors are guilty of “blinding with science.” Don’t invest in anything you don’t understand. The advisor’s job is to advise. Your job is to listen carefully and then make YOUR decision.

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Manage Finance

Financing Your Business Acquisition Should Be the Least of Your Concerns – Think About Choosing One

At this point in the article, you should feel confident about getting into a new business without using any of your own cash. Then there’s the obvious question: “Where am I going to get the money for the rest of the purchase price?” Coming up with a way to cover the $100,000 down payment on a $500,000 deal seems relatively easy once you know all your options and opportunities. However, getting the remaining $400,000 can be a more difficult task to accomplish. To your big surprise, it is not. Like the process of arranging no cash down, the methods of paying for the rest should not be a concern. Let’s begin with this simple thought: if you think of money as a commodity, or product, you’ll have an easier time finding it, asking for it, and getting it from those who can afford to lend it. Many people have these resources to lend to you. All you need to know is how to ask for it the right way.

Question: Whose door should I knock on first?

Answer: You may already have your foot inside that door. That’s because, as I’ve mentioned before, the most likely source could be the seller. In fact, before you consider any other funding source, discuss the prospect with the seller. (Later, a few other avenues of financing will be discussed, in the event that the seller is not cooperative with your pitch techniques.) Borrowing from sellers typically offers some key advantages:

1) Sellers are not fanatical about earning interest. Their objective is actually to sell their business at a price they feel most acceptable. The seller wants to get rid of their business for a reason, whatever that might be. This may be to get rid of a financial burden, and for you, an opportunity to put into practice your management expertise to transform the same business into a towering mountain of profit.
2) Sellers can be far more understanding than banks. Let’s say your new business has a slow couple of months, and cash flow has become more like a cash trickle. So now you’re forced to miss a payment, or even two. Which lender is more likely to penalize you-the bank, or the person with whom you’ve formed a solid relationship and who can empathize with your business problems? I am sure that you and I share the same answer.
3) And no, sellers won’t take away your personal assets. Whereas most banks are obsessed with collateral, sellers rarely demand the same. Yes, they may want you to put security interest on the business, but beyond that, a handshake will often close the deal.

Question: If seller financing can’t be worked out, should I simply go to my bank?

Answer: Actually, the ideal bank may be the one the business is already using. They know the business and if the seller can introduce you to his or her long-time banker, it could facilitate the transition of ownership. However, you can also apply at any commercial bank for a business acquisition loan. As you might imagine, though, there’s much more required of this kind of transaction than filling out an application like you would for a car loan. They want to know a lot more about you and your chances of success before they approve the loan; and of course, that depends on your credit history and management skills. One thing you must remember is not to beg. You should never go into any financial institution, “hat in hand”, to plead for a loan. As intimidating as banks can be, they’re really just money supermarkets with shelves full of a commodity they want you to buy.

They need you as much as you need them. If you have a deal that makes reasonable sense, they’ll go along with it and make plenty of money from you. If you come into the bank with an idea for a start-up company, a good business plan is required as well. Solid projections will also be needed as part of the package. Using the business plan, the bank can analyze the feasibility of the venture and will decide accordingly.

Question: You mentioned “business plan” early in the article”. What kind of information can I submit to the banker that can be relevant to what he’s looking for?

Answer: Here’s what you can find in a business plan that will help you gather the necessary information for the banker.

Elements of a Business Plan: cover sheet, statement of purpose, table of contents, description of the business, marketing, competition, operating procedures, personnel business insurance, financial data, loan applications, capital equipment and supply list, balance sheet, breakeven analysis, pro-forma income projections (profit & loss statements), three-year summary, detail by month, first year, detail by quarters, second and third years, assumptions upon which projections were based, and pro-forma cash flow.

It is also necessary to present supporting documents to the business plan. A banker will need to see them before even considering you for a loan.

Some supporting documents are: your tax returns for last three years, your personal financial statement (all banks have these forms), in the case of a franchised business, a copy of franchise contract and all supporting documents provided by the franchisor, a copy of the proposed lease or purchase agreement for building space, copies of licenses and other legal documents, copies of resumes of all principals, and copies of letters of intent from suppliers.

Question: Is there a difference between a marketing plan and a business plan?

Answer: Marketing plays a vital role in successful business ventures. How well you market you business, along with a few other considerations, will ultimately determine your degree of success or failure. The key element of a successful marketing plan is to know your customers-their likes, dislikes, expectations. By identifying these factors, you can develop a marketing
strategy that will allow you to arouse and fulfill their needs. Identify your customers by their age, sex, income/educational level, and residence. At first, target only those customers who are more likely to purchase your product or service. As your customer base expands, you may need to consider modifying the marketing plan to include other customers. In report # 8, a sample of a marketing plan is included to give a more detailed idea of its components.

The business and marketing plans are both necessary tools to help you obtain a good idea of how you should pursue your future business. However, if you are looking for a loan at the bank, the business plan should be enough. The marketing plan can be useful when presenting it to business brokers, venture capitalist suppliers and of course, the seller. Since many businesses are seller’s finance, he will be curious to see what are your ideas that will enhance the sales of the business. By doing so, his shares of the business will increase in value and will be comfortable when you’ll take over.

Question: Can you describe in more detail some elements found in the marketing plan?

Answer: My pleasure. A marketing plan is necessary to direct your new business in the path of success. Consider it like your bible. It will help you target the market, or as we said previously, carve your niche. The marketing plan will help you answer the following questions: How you can position yourself with your competitors? How is your product perceived by the consumers? How should you establish a price for your product? Who will distribute your product? How will you promote the product to the public?

In your strategic situation summary, you should summarize the key points from your situation analysis (market analysis, segments, industry, and competition) in order to recount the major events and provide information to better understand the strategies outlined in the marketing plan.
The second section of the marketing plan should include the targets and objectives. This section explains how to define the market demographically- geographically in social and economic terms. Each market target should have needs and wants that differ, to some degree, from other targets. These differences may be with respect to types of products purchased and the frequency of purchase. Objectives should include the following program components:

1) Product
2) Price
3) Distribution
4) Promotion (or sales force)
5) Technical services

As for the third section of the marketing plan, here you will provide the position statements that will help you describe how you want each market target to perceive each product relative to competition. State the core concept used to position your product (brand) in the eyes and mind of the targeted buyer. The position statements should describe:

1) What criteria or benefits the customer considers when buying your product along with the level of importance.
2) What you offer that differentiates your product from competition.
3) The limitations of competitive products.

All these details gave you a general idea on the content of a marketing plan. The most important segments are as follow:

Product strategy:

o You’ll need to identify how each of your products fits the market target. Other issues that may be addressed would be new product suggestions and adjustments in the mix of existing products.
Price strategy:
o The overall pricing strategy should be identified along with the cost/benefit analysis. Identify what role you want price to play, increase share, maintenance etc…
Distribution strategy:
o Describe specific distribution strategies for each market target. Issues to be addressed are intensity of distribution, how distribution will be accomplished, and the assistance provided to distributors.

Promotion strategy:

o Promotion strategy is used to initiate and maintain a flow of communication between the company and the market target. To assist in developing the communication program, the attributes or benefits of your product should be identified for each market target.
Marketing research:
o Describe the market research problem and the kind of information needed. Include a statement that addresses why this information is needed.