Thursday, January 2, 2020

Marketing Plan - 2689 Words

Mark D. Imhoff MM522 (Marketing Management) Marketing Plan Suspension Beds Sunday, September 18, 2011 ------------------------------------------------- Executive Summary Suspension beds is a revolutionary product of which is very attractive to expanding families, kids, students, and trend-setters. The product utilizes wasted overhead space in bedrooms for the purpose of freeing up the entire square footage of the room to use as one so desires. The product and company has little direct completion, the benefits are immeasurable and the growth potential for the company is enormous. The product leverages cost savings when it comes to customers needing more space, and conversational topics for those who have no space or financial†¦show more content†¦There will be segmentation of the target market using home pricing, not home sizes, as home price will be adequate in this area. The primary targets will be as follows: Lower to Middle Income, Expanding Families; Within this demographic â€Å"space† requirements are continually challenged by the availability of funds to acquire it, particularly when speaking of home renovations and expansions. This will be the largest of the three identified Target Markets, consisting of approximately 1/2 of the overall TM. Geographically, this target market is located throughout the valley, in the middle-income neighborhoods which is approximately $30k to $62.5k household income (US Census Bureau, 2006 – Appendix A). The slogan â€Å"the cheapest way to add a room to your home† will be a key marketing tool for this particular segment of the target market. With the economic conditions and growing families, space is desired but not always an option due to cost so this will be a key focal point. This particular market makes up 52% of the total available market, more than 128,000 homes. (U.S. Census Summary File 3, Profile of Selected Housing Characteristics: 2000) Higher Income Market; In this demographic the strategy will focus more on the â€Å"wow factor† than space savings or financial viability. The company will also utilize standard ads, flyers, mailers, etc. The geographical areas of this demographic will beShow MoreRelatedA Marketing Plan For A New Marketing Strategy966 Words   |  4 Pagesthe governmental legal requirements and, on the other hand, defines the organization’s policy administration. For a triumphant marketing plan, understanding the government legal approaches allows for efficient operation and inter-relationship with other organization. Similarly, internal legal policies allow the company to uphold its operation in a set manner. 4.0: Marketing Audit A market audit process is a tool that can never be neglected despite the situation. However, very few companies carryRead MoreMarketing Plan For A Small Business2998 Words   |  12 Pagesin detail. †¢ The benefits of TQM when implementing the strategic plan to meet goals or increasing profit within a small business. †¢ The economy’s motivation of small businesses stability as compared to large businesses that are well established, also the financial assistance of other organization including the government. †¢ Different categories of a company and the importance of CRM to any size business. †¢ To compare the marketing plan of a small business and a large business where it reflects theRead MoreMarketing Plan827 Words   |  4 Pagesï » ¿Marketing Business Environment Marketing Planning: An Overview of Marketing 6 main questions to ask in order to create your marketing plan: 1. Where are we now? (Business Mission, Marketing audit, SWOT analysis) 2. How did we get here? (Business Mission, Marketing audit, SWOT analysis) 3. Where are we heading? 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The trips have been well received, and marketing is now critical to its continued success and future profitability. Blaze Mountain travels and tours offer concepts like ecotourism and sustainable tourism to older tourists and hard adventure trips to the student tourists. This target market appreciatesRead MoreMarketing Plan3688 Words   |  15 PagesSITUATION ANALYSIS The marketing environment for LIMCOMA represents overwhelming opportunities. It also contains some challenges that the firm believes it can meet successfully. An illustration below shows a SWOT analysis of the company to highlight LIMCOMA’s strengths, weaknesses, opportunities, and threats. Strengths LIMCOMA’S dedicated founders understand the target market and products. LIMCOMA has achieved distribution in several markets with quick acceptance The firm has a very littleRead MoreMarketing Plan3847 Words   |  16 PagesA marketing plan is a comprehensive blueprint which outlines an organization s overall marketing efforts. A marketing process can be realized by the marketing mix, which is outlined in step 4. The last step in the process is the marketing controlling. The marketing plan can function from two points: strategy and tactics (P. Kotler, K.L. Keller). In most organizations, strategic planning is an annual process, typically covering just the year ahead. Occasionally, a few organizations may look atRead MoreMarketing Planning : The Marketing Plan Essay1545 Words   |  7 PagesTo attract mixed segment ther is need to marketing planning is indeed the key to the whole marketing process. The marketing objectives state just where the company intends to be; at some specific time in the future. James Quinn succinctly defined objectives in general as: Goals state what is to be achieved and when results are to be accomplished, but they do not state how the results are to be achieved. They typically relate to what products will be where in what market. They are essentiallyRead MoreMarketing Plan For Subway Marketing1516 Words   |  7 PagesExecutive summary The marketing plan has close ties with the overall financial and business plan. This plan contents a strategy for success, and breaks it down into coherent, actionable components that will aid The Sub Shop to implement marketing activities to provide a firm return on investment. The following areas will help explain how the company plans to differentiate the business and product offering from the competition, and define the strategy that will drive its business forward. The aimRead MoreMarketing Plan1891 Words   |  8 Pagesa breakeven point in the second year after opening the store and become profitable in the third year of being in this business. In the first year, our profits will be low, due to low sales and high distribution, inventory, marketing and advertising and sales expenses. Marketing expenses will be very high in the first year. We have to inform the customers about this new product and get the consumers to try out this new concept. It will take â€Å"Just passin’ Thru† some time to build up the customer base

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