Sample Marketing Plan 2.0 Current Market Position

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position your business relative to your competition. You need to develop strategies to meet those objectives. Example Market research carried out by the proprietors reveals an increase in home renovation activity among home owners in their target market. Such owner/renovators, especially in the inner suburbs, subcontract the more complex work to builders. Market research also indicates that many existing kitchen, bathroom and laundry renovators do not have a good reputation, therefore, the proprietors believe they can gain a competitive advantage through the provision of top quality products and services, access to specialty items and innovative designs. The proprietors believe the best marketing strategy combines a good network of contacts, the development of a reputation for quality and reliability and the attainment of personal referrals. This strategy will be pursued through the distribution of brochures, direct contact with home buyers in selected areas and a small display in the rented business premises. 7.2 Target market As small businesses usually only have enough resources to target market segments, it’s important to select the most relevant segment before launching a marketing plan. Before you choose, consider the following: • who are your customers and potential customers • is there a market niche which has not been catered for • are customers in this market satisfied or are they looking for a change • can you offer them something which really meets their needs • will you generate enough business in this segment to survive • alternatively, is there too much business Will you overreach yourself • how will competitors react • can you communicate to this market effectively How Example Our target market includes: • people wanting larger or more modern living environments who want to stay in the area and/or avoid moving costs • people wanting to live in area buying a property based on location not house style or condition (about one third of renovators in the area) • home owners (about half of renovators in the area) in the middle to high income bracket, with at least two sources of income per household and a higher than average disposable income, which was predominantly spent improving quality of life • people wanting to upgrade parts of their house in order to sell it for a better price 7.3 Positioning statement A strong statement outlining your approach to the market and how you will create brand awareness. Consider these questions in developing your plan: • which elements of your marketing are essential 10
• which are preferable but optional • do you have a clear understanding of your customer's needs • do you understand your strengths • how will you differentiate your product from competition Example Canterbury Renovations - quality renovations without fuss Canterbury Renovations are professionals caring for clients’ homes by improving their kitchens, bathrooms and laundries with quality materials and workmanship. Canterbury Renovations supplies and installs equipment such as ovens and dishwashers, creates an environment to suit each client and advises on colours and styles. 7.4 Branding strategy Branding will make you stand out in the marketplace so a branding strategy can be a useful marketing tool. It takes time to create a strong brand, but it involves all aspects of your business and especially all marketing activities. The brand can be for your product, product range or your business. Once you have a well established and recognised brand, you may be able to charge more for your product, have instant credibility to new customers and require less sales effort to make sales. Example Canterbury Renovations will slowly build up brand awareness for their name and logo. This will be done as part of the overall marketing strategy for the next three to five years. The branding strategy includes ensuring that any marketing or advertising materials, such as business cards and staff uniforms, are created in accordance with Canterbury Renovations corporate identity style guide. Canterbury Renovations will present its image as trustworthy and reliable. 7.5 Product strategy This section describes your long-term product strategy in detail. If you are providing a service then you should consider your service(s) as your product(s). You will need to consider: • what features and benefits do you offer • unique selling point (USP) • potential products Example Canterbury Renovations offers personalised service whereby the design is part of the project and can be done in the client’s home with discussions. This personalised service is our USP. 11
Page 1 and 2: Sample Marketing Plan The sample pl
Page 3 and 4: • priced for traditional customer
Page 5 and 6: Conduct a PEST analysis ( assess th
Page 7 and 8: • poor reputation of the industry
Page 9: 6.1 Sales Example Over the next 12
Page 13 and 14: Each time you prepare a marketing p
Page 15 and 16: 7.8.5 Sales strategy Selling by one
Page 17 and 18: 8.0 Resource requirements and budge
Page 19 and 20: 10.1 Exploratory costs Accommodatio
Page 21 and 22: Insurance payments Accounting fees
Page 23 and 24: e.g. 10% Total $28.03 Therefore, th

Sample Marketing Plan 2.0 Current Market Position

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