Sample Marketing Plan 2.0 Current Market Position

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Competitors: These products are available in many places but at varied qualities. Canterbury Renovations expertise will ensure only quality materials are selected for use. Products will also include a wide range of built-in appliances such as ovens, microwaves, cook tops and dishwashers. These will be reliable products and selected to suit each individual project. Competitors: All of these products are available at many places, but Canterbury Renovations offers them as part of a service rather than as stand alone products. One renovation company in the western suburbs also offers these appliances as part of their renovations packages but they don’t service the eastern suburbs at all. Balwyn Kitchens doesn’t supply equipment to install in new kitchens. 2.2 Place To sell products and run a business, you need to have premises of some sort. It may be a home office, a mobile service, a business centre office or a shop, but it needs to be considered from the customers’ point of view. Consider whether those premises and its location appeal to customers. Compare your premises with your competitors’ premises. Think about how you premises can work to your marketing advantage. Example Canterbury Renovations will have a showroom for people to visit. This will allow some demonstration of work and products available and provide a space where projects can be discussed, planned and contracts signed. Alternatively, Canterbury Renovations staff will visit clients’ homes to discuss projects and sign contracts. This provides a level of customer service that clients like when considering such large projects and expenses. Competitors: Various kitchen renovation companies in the neighbouring areas work purely from a showroom for the sales and planning stages, so Canterbury has an advantage in service. Balwyn Kitchens also provides an in home service, but they only offer kitchen make overs compared to Canterbury’s kitchen, bathroom and laundry focus. This gives Canterbury a larger target market as well as being able to offer clients more services for their home upgrades. 2.3 Price Every business needs to set prices for products and services. A pricing strategy outlines how prices will be set and how much flexibility there will be for individual prices. It includes details such as discounts, specials, package deals and moving old stock. Check competitors’ prices and policies to ensure you are being realistic with your policies. Example Canterbury Renovations pricing policy includes: • high margin 2
• priced for traditional customers • competitively priced against competition for the quality • discounts offered when pricing three concurrent jobs at once (e.g. a kitchen, bathroom and laundry renovation) • no set prices as each job is quoted according to its requirements • progress payments offered • discount offered for prompt payments 2.4 Promotion Consider how you currently promote and market your business and what is and isn’t working. Look at what your competitors do for promotion, noting what does and doesn’t work for them as well. Example Canterbury Renovations is a new business so there are no existing marketing activities in place. There is no brand awareness in the renovation market. A graphic designer has developed a logo, business cards and letterheads ready to promote the business, and a website is underway. West Homes advertises in lifestyle magazines with some success but this is an expensive option. Canterbury Renovations can’t afford this avenue yet and isn’t sure of the returns anyway. Balwyn Kitchens sponsors a feature section in the local paper each month and uses signage and letter box drops t o promote their services. 2.5 People A business can’t operate effectively without good staff. Each business has different requirements so you will need to consider the size of your business, what service level is required and hours or operation to determine how many staff you need. It’s also important to determine what skills and experience staff require, what training they may need, how you will recruit new or replacement staff and what roles staff will be required for. Example Canterbury Renovations has collected a team of dedicated and qualified staff. The proprietors have experience in the industry but need training or experience in managing staff. They are providing training for all staff into the preferred service technique and style for the business. The priority areas for staff training will be: • building and production techniques • using new products: fittings, materials, equipment • using new machinery: outputs, operation, efficiency • marketing skills • selling 3
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Sample Marketing Plan 2.0 Current Market Position

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