Quick Win Marketing

Q5How do we get a logo?
A logo is a symbol of the organization’s name and should last for some time. It should represent the company’s values (professional, expert, creative, etc).
In terms of style, logos can be a form of the company name, like Slideshare, the business media site for sharing presentations, documents and pdfs.

To develop your business name:
Take a blank sheet of paper and divide it into four boxes.
In each box, write one of these words: Values, Image, Uniqueness, Services.
In values, list down all the things that are important to you, what really matters – e.g. personal service, efficiency, attention to detail, expertise.
In image, list all the words you would like people to say when describing your business.
In uniqueness, think about why you will be different – e.g. 24 hour service.
In service, list what you will offer, all the variations of your products or service.
Based on these words, find some friends and brainstorm to generate various names.
Look at the names in lowercase and UPPERCASE.
Check with your Companies Registration Office to see if the name is available.
Go online to see whether a suitable website address is available.
Say the name out loud and check whether it sounds good.
Put the names onto a wall in your office and leave them there for a few days and then decide which is preferred or which name grows on you!

Company names are often based on people or places. Companies based on family names include Ford Motor Company and Cadbury’s chocolate. Businesses named after their location include 3M (originally known as Minnesota Mining and Manufacturing Company) or Armitage Shanks sanitaryware from the Staffordshire village in England.

Q3What market research do we need?
To start a new business, the critical question is whether there is a real opportunity. You may believe there is an opportunity but, before you start spending money, it’s worth undertaking some research.
You need to know:
What is the market size?
Who are the main suppliers?
Who are your future competitors?
What is the value of the current market?
Who are the key customers?
What trends are taking place in the market?
What is the best ‘route to market’?
Spending money on research before starting a new business will save time and money in the months ahead – and may help you to avoid disaster.

Q2How do we take an idea and turn it into a business?
The best way to make something happen is to make a plan.
Start by looking at the timescale you are working towards. Do you want the product or service available in three, six or 12 months? Is there an exhibition or other event taking place where it could be launched? Does it need to be available before Christmas or some other key date?
Do you have the finances to support the idea for the first six to 12 months? If not, there are many different ways to generate funds. When the timescale and funding has been decided, list all the steps involved.
This checklist is adapted from the ‘7Ps of marketing’:
Area Checklist Action Product or Service
Is the product ready to sell?
Finalize product development.
Pricing or Fees
Has pricing been agreed?
Does it cover overhead and profit contributions as well as cost of sales?
Agree pricing.
Look at delivery costs.
Route to market
Will the product be sold directly to the end users or indirectly through another company (distributors)?
Develop website.
Identify distributors.
Engage sales team.
Promotion
How do you envisage the product being promoted?
What is the budget for promotion?
Create a promotion plan (linked to sales targets).
Set a budget.

Q1We’ve got a great idea, will it work?
It often takes 100 great ideas to produce one that truly works – Linus Paul, the originator of the Linux computer operating system, said, ‘The best way to have good ideas is to have lots of ideas’.
But a great idea that becomes a product or service needs more than just your courage. To see whether your idea will work, you need to answer these questions:
Does this product / service replace or improve an existing item or is it a completely new idea?
What are the alternatives? Don’t forget that DIY is often an alternative for services.
If it is not a new idea, what is its uniqueness? What makes it special?
Why is it needed now?
Although you can see the need for the product, will people outside your friends and family buy it?
Is the idea time limited (i.e., will it only last for a couple of months or years, or has it a longer life)?
What will it cost to produce?
How can it be delivered (i.e., by post, in person, online)?