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Marketing Plan Essay

1879 words - 8 pages

Introduction stage: “Just Passin’ Thru” is a new concept, this is something new that is introduced to the market, therefore, it will take some time for the customers to take used to this new concept. Our goal will be to achieve a 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 “Just passin’ Thru” ...view middle of the document...

That is why we expect our sales to keep on growing at a healthy pace in years to come. In the growth stage we expect the prices to remain where they are or fall slightly. We expect to cut the promotion spending to 50% of the introductory stage level. We will use that money to improve distribution channels, focus on product improvement, open stores in other towns and employee training. We feel that we need to offer a superior customer service because 80% of our customer base will be repeat customers. In order to keep them coming back to our store we have to make their shopping experience satisfactory and pleasurable. In doing so, however, we will forego our maximum profit, because we will keep on reinvesting our profits into the above-mentioned activities which we expect to pay off in the next stage of our business.
Maturity stage: At a certain point in time, our product sales growth will slow down and our store will enter its maturity stage. We expect this stage to last for a very long time and this is where we expect our company to make the most of its profits. Most products and industries are at this stage and therefore most of the marketing management deals with the mature products. We expect major retail grocery chains to all have a certain representation in this market niche. We know that the level of competition will be much greater than in the introductory and growth stage. We expect our prices to drop somewhat because of the increase in competition; however, due to the brand name recognition, positioning, and successful differentiation strategy, we expect profits to increase due to increase in sales volume and the advantage of the economies of scale at that point. In the maturity stage, weaker competitors will drop out of the market and only well established successful competitors will remain in this market at this stage. The industry will consolidate, some of the successful competitors will buy the less successful ones, and we forecast the oligopolistic competition at that point.
S.W.O.T. analysis
Strengths:
This idea is new, fresh, and innovative. There are no competitors in this market yet. Therefore, “just passin’ thru” will have first mover advantages. We will determine the strategy, the pricing, and the target market. There are no big grocery chains competing in this segment, making it hard for our company to keep up with them. Another advantage that we will have is a low capital investment to start up. This is due to the fact that we will only have low levels of inventory to satisfy the daily demand. We will operate an efficient “just in time’ inventory systems which will ensure that all our products will have the always fresh guarantee and that our perishable products will not go bad due to a lack of demand for that perishable product. Another strength is the size of our market. Just like fast food chains like Mc Donalds, Burger King, Taco Bell, Subway, Quizno’s, etc. we have a huge target market potential. There...

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