Marketing Plan Guide



Samantha Jo Wood OwnerFeelin’ Crumby1111 Drury Lane Bakersville, PA 17046Feelin’ CrumbyMarketing PlanPrepared: 12 May 2016Table of Contents TOC \b Part2 \o "3-3" \t "Heading 2,1,Heading 3,2" Marketing Plan Summary PAGEREF _Toc358019299 \h 3The Business PAGEREF _Toc358019300 \h 3The Future PAGEREF _Toc358019301 \h 3The Market PAGEREF _Toc358019302 \h 3The Finances PAGEREF _Toc358019303 \h 4The Business5Business overview5S.W.O.T. analysis5S.W.O.T. activity sheet5Products/services6Sales/marketing personnel7The Future PAGEREF _Toc358019310 \h 7Vision statement PAGEREF _Toc358019311 \h 7Mission statement PAGEREF _Toc358019312 \h 7Goals/objectives PAGEREF _Toc358019313 \h 7The Market8Unique selling position8Your customers/clients8Your competitors9Market research PAGEREF _Toc358019318 \h 9Market targets10Environmental/industry analysis10Marketing strategy PAGEREF _Toc358019321 \h 11Advertising & sales PAGEREF _Toc358019322 \h 11The Finances PAGEREF _Toc358019323 \h 13Price PAGEREF _Toc358019324 \h 13Expected sales PAGEREF _Toc358019325 \h 13Marketing budget 201614Monitoring/measurement activities15Marketing Plan SummaryFeelin’ Crumby is a small, single person-owned business in its first year of operation. Feelin’ Crumby sells unique flavored cupcakes and a wide variety of global coffees. The bakeries employees face challenges through the minimal manning used in the infancy of the business and the influx of business over the past few months. The greatest demand is during the hours of 7-10a.m. During other hours of the day, employees are less task saturated. A major challenge facing Feelin’ Crumby is how to increase profits and more adequately fill the hours the business is not teeming with customers. An evaluation of the strengths, weaknesses, opportunities, and threats served as a groundwork for the marketing plan and strategic analysis within. The plan highlight’s the company’s growth strategy, to include a focus on developing new partnerships.The BusinessBusiness name: Feelin’ CrumbyBusiness structure: CompanyBusiness location: 1111 Drury Lane Bakersville, PA 17046Date established: 12 May 2016Business owner(s): Samantha Jo WoodThe FutureVision statement:We intend to provide our patrons with the best dining experience from start to finish, with kind, personable, and knowledgeable service.Mission statement:Feelin’ Crumby is a small locally owned business committed to providing top-quality desserts in an inviting venue for customers who seek a fun and unique bakery experience. We intend to generate enough profit for continued growth and development in both our bakeries and our products. We also uphold a welcoming, ethical, and innovative work atmosphere, which values diversity, original ideas, and diligence. Goals/objectives:Increase its profits by 3% over the next 6 months and at least 5% over the next year Increase sales to at least 1,000 cupcakes dailyDevelop new partnerships to increase customer interest and foot traffic by at least 45 customers per day by year 2Increase its website hits by 19% over the next year.Hold prices for coffee 5% lower than coffee chains in the area.Establish one satellite location by 2017The MarketTarget market: Feelin’ Crumby’s target market are consumers interested in coffee and baked goods. The bakery also caters to those interested in exploring their global palette as the flavors of both the baked goods and coffees are unique. The bakery appeals to all types of consumers from the everyday coffee drinker to the very specific consumerMarketing strategy:Feelin’ Crumby has been in the market for 1.5 years. After a slow increase in customer interest and sales, a need for partnerships has become evident. In order to boost sales and increase interest in the bakery, near partnerships must come to fruition. Marketing during peak hours in grocery stores with free samples and flyers will help attract consumers. Additionally, adding advertisements and coupons to local newspapers and magazines insead of relying entirely on social media marketing. The FinancesFeelin’ Crumby is currently $45,000 in debt. Ideally, the bakery needs to be out of debt in the next 2 years. The bakery will need an additional $50,000 in order to develop a new location. The bakery will not be seeking any additional loans for marketing efforts. Beyond the $50,000 dollar loan the bakery has already been approved for, all marketing efforts will be paid for by company profit. The BusinessBusiness overviewSamantha Jo Wood is the current sole business owner. She manages the bakery and its finances, as well as the internet marketing campaign. Feelin’ Crumby is a business dedicated to the sales of affordable gourmet baked goods and coffee. The intent is to distribute products that would complement an international palette and allow consumers to try new and unique tastes. The introduction of many African based beans into the coffee line has proven to be a great success. Additionally, the partnership with local farms has added interest in the bakery. As the bakery supports local small businesses, more visibility is given to the bakery. The bakery has been established for 1year to date and is growing in size. Currently, the bakery is 800 square feet and serves nearly 600 customers a day, primarily during the hours of 7-10a.m.S.W.O.T. analysisStrengthsWeaknessesHigh traffic locationCheap rental costsCentral to two collegesLoved atmosphereProducts are perishableFinancingOpportunitiesThreatsExpansion of product lineNew partnershipsChain coffee competitorsGrowing concern for healthS.W.O.T. activity sheetS.W.O.T weakness/ threatActivity to address weakness/threatActivity completion dateProducts are perishableOfficially track all sales and restrict baking to +/- 50 of any product sold.1 August 2016FinancingCut debt in half through increased profits1 Jan 2017Chain coffee competitorsContinue to price coffee 5% below the competitors price30 May 2016Growing concern for healthIntorduce healthier items to the menu to include a gluten free menu.1 Juy 2016Products/servicesProduct/ServiceDescriptionPriceCoffeeRegular brewed coffee2.90Speciality CoffeeLattes, Breves, Americanos, and Flat’s4.00CakesAny full size cake: 10”13.00CroissantsFilled with chocolate or fuit filling3.00CupcakesCupcakes of all varieties sold individually2.00? Dozen CupcakesCupcakes sold by the ? dozen15.00BrowniesBrownies with assorted toppings3.00Market position: Feelin’ Crumby’s products are both competitive and high end. The coffee is imported from all over the glove, giving it a high-end taste. However, the coffee is always priced below competitors. Baked goods are competitively priced with local grocer’s. Unique selling position: Feelin’ Crumby’s competitive advantage is its unique global flavors not offered by competitors, making a trip to the bakery more of an experience than a menial daily task.Anticipated demand: The average consumer is expected to purchase at least $70 worth of coffee a month and $16 of baked goods. Pricing strategy: Coffee is priced to be competitive with local chain coffee shops, but still remain profitable. Baked goods are priced competitively with local grocer’s, but are inflated by a small percentage to maximize profits. The quality and unique flavors of the baked goods allows for the price fluctuation.Value to customer: All of the products offered are luxuries to consumers, however, many consumers thrive on one cup of coffee a day. In that reagard, Feelin’ Crumby is a necessity. Convieniently located between two colleges and near a downtown business district, the bakery provides an easy stop on the way to work and the convienience of not having to brew or bake at home.Growth potential: Feelin’ Crumby can expect a 4% growth over the next year based on increased interest in the bakery. Additioanlly, the acquisition of new partnerships will increase profits.Sales/marketing personnelJob TitleNameResponsibilitiesOwner/Marketing/Sales ManagerSamantha WoodManage finances, the bakery, develop future plans, and manage marketingBakery LeadWill FrostingManage how many of each product are baked and oversee the processSales LeadSally FondantPitch sales to local businesses interested in satellite bakeries in their storesThe FutureVision statementWe intend to provide our patrons with the best dining experience from start to finish, with kind, personable, and knowledgeable service.Mission statementFeelin’ Crumby is a small locally owned business committed to providing top-quality desserts in an inviting venue for customers who seek a fun and unique bakery experience. We intend to generate enough profit for continued growth and development in both our bakeries and our products. We also uphold a welcoming, ethical, and innovative work atmosphere, which values diversity, original ideas, and diligence. Goals/objectivesIncrease its profits by 3% over the next 6 months and at least 5% over the next year Increase sales to at least 1,000 cupcakes dailyDevelop new partnerships to increase customer interest and foot traffic by at least 45 customers per day by year 2Increase its website hits by 19% over the next year.Hold prices for coffee 5% lower than coffee chains in the area.The MarketUnique selling positionUnlike many other bakeries or chain coffee shops in the area, there is a focus on quality products. Along with the quality produts come unique flavors from multiple global vendors. Additionally, Feelin’ Crumby has emphasized providing an fashionable atomosphere. Your customers/clientsCustomer demographicsThe ideal customer for Feelin’ Crumby is willing to take the extra time and money to visit a bakery in the morning. He or she may be too busy to bake their own desserts or brew their own coffee. At the same time, they understand the difference between a baked good from a grocery store and one carefully crafted at a bakery. The customer is also willing to try new and unique flavors. The ideal customer would be a weekday regular for coffee and occasionally a sweet treat. The customer will likely commute through or live near the bakery. They will likely have either a professional job or be a student, both between the ages of 18-40. Key customersFeelin’ Crumby’s key customers are those between the ages of 18-25. Because the bakery is located between two colleges, students are what drive the business. Prices have to stay reasonable in order to appeal to them. Additionally, the bakery will utilize special offers to draw interest from the student body and professors.Customer managementFeelin’ Crumby’s customer management is imperative to its success. The bakery does not participate in any business to business ventures, which puts a significant stress on the need for good customer relationships. All employees in the bakery will be trained bi-annually on their customer service. They are expected to be courteous to patrons and if any issues arise, speak with management. Bi-monthly the bakery will have secret shoppers to test the relationships with consumers. Finally, the store will have open feedback in onine forms such as Facebook and Urbanspoon. At least one employee will be required to respond to any feedback listed on the sites.Your competitorsCompetitor detailsCompetitorEstablished dateSizeValue to customersStrengthsWeaknessesStarbucks1971Large ChainQualityBrand LoyaltyBrand RecognitionExpensiveDunkin’ Donuts1950Large ChainPriceBrand LoyaltyBrand RecognitionAffordabilityInconsistent QualityKrispy Kreme1937Large ChainQuality PriceBrand LoyaltyBrand RecognitionHealth Conscious Market TrendsMarket research Survey’s were used to gather information from consumers in the target market area. The survey discussed how often they drink coffee, how often they eat baked goods, and what varieities of each they liked. One open ended question asked the consumers to discuss whether or not they would try a variety of new flavors.Market targetsFeelin’ Crumby’s aim is to meet the following sales projections monthly:Coffee: $25,000Baked Goods: $60,000Environmental/industry analysisFeelin’ Crumby is in a stable environment. The company thrives on college students and professionals so there is often a lull in business after 10 a.m. There is also a slow decline of sales during holidays and summer off months for the colleges. The market, however, is steady. Resident students and professionals keep sales up during the low periods.Marketing strategyFeelin’ Crumby has previously placed a lot of emphasis on social media marketing. The bakery is planning on shifting some focus to a traditional website that is easier to navigate. Additioanlly, the bakery is going to seek space in local newspapers, magazines, and the college newsletters.Marketing activity/milestonePerson responsibleDate of expected completionCost ($)Success indicatorCollege 1 NewsletterSamantha Wood1 July 2016$50/per monthAdvertisement and coupon printed in monthly newsletterCollege 2 NewsletterSamantha Wood1 July 2016$50/per monthAdvertisement and coupon printed in monthly newsletterWebsiteSamantha Wood30 May 2016$20/per monthWebsite completed and all links functioningSocial media Samantha Wood20 May 2016FreeAble to review the business onlineAdvertising & salesAdvertising and promotional strategy Planned promotion /advertising typePromotional strategyExpected business improvementCost ($)Target dateSocial Media Campaign The campaign will allow social media users to pick a featured flavor for the month. The users will be able to use the voting function on Facebook. One random user will be selected from those who voted. The winner gets the choose the name of the cupcake and receive a $20.00 gift card.This campaign will not only improve interest in the company, but will also help to develop customer relationships. $20 July 2016GiveawayStarting in October, the bakery will give away free coffee to any small business for their morning breakfat as well as provide them with a tray of brownies. The giveaway will be announced on the local radio station. It is also open to college students to apply for their classes.This will increase interest and show that the bakery can accomdate large groups of people.$100Oct 2016EventThe bakery will hold a holiday party during December. The event will have a cookie decorating contest that patrons can participate in.Invites patrons into the business on a more social and casual level to develop customer relationships.$2,500Dec 2016Social media strategySocial media will be managed internally through the bakery manager. Social media, specifically Facebook, will be used to announce events and other interesting news from the bakery. The bakery will strive to post at least once per day to keep the consumers involved. Additionally, it will be used to host social media campaigns. Sales strategySales are all completed through the store. The bakery will do free samples at other locations to peak interest. The sales lead is responsible for managing and finding new outlets for sales. Ideally, Feelin’ Crumby can begin to develop satellite locations in larger businesses to expand to more locations through 2017.Sales and distribution channelsChannel typeProducts/servicesPercentage of sales (%)Distribution strategyShopfrontAll products100%Most logical distribution strategy for a start up bakery and it allows the consumers to get face time with the owners and managers. The FinancesPrice Prices are as follows:Product/ServiceDescriptionPriceCoffeeRegular brewed coffee2.90Speciality CoffeeLattes, Breves, Americanos, and Flat’s4.00CakesAny full size cake: 10”13.00CroissantsFilled with chocolate or fuit filling3.00CupcakesCupcakes of all varieties sold individually2.00? Dozen CupcakesCupcakes sold by the ? dozen15.00BrowniesBrownies with assorted toppings3.00All costs for goods needed to make the products are stable year round. Prices are set to remain competitive, yet affordable. The bakery will not raise its prices during the summer or holidays. Based on the current debt to income ratio, the bakery will be able to pay off its loan’s in 2 years, while still seeing growth and development.Expected sales Expected sales total $85,000 monthly. However, those sales can flex as low as $70,000 during periods of peak travel.Marketing budget 2016Monitoring/measurement activitiesMarketing activityDate of reviewMonitoring methodsReview outcomesEventJune 2015Measured by increase in profits after the eventThe grand opening, one month after opening allowed for the business to meet with potential new customers. The bakery opened it’s doors all day to tours, free tastings, and disucssions on coffee baked good pairings. After the event, sales and traffic were monitored. Sales increased by 5% and the bakery saw at least 15 more customers per day. BrandingDec 2015SurveysThe bakery began to put its logo on to-go cups, mugs, napkins, bags, and other items to promote the brand. After one month of implementation, consumers were surveyed on how they liked the logo and if the logo made others ask about the bakery or reminded them of the bakery. An overwhelming 90% of respondents liked or loved the logo and 79% of survey respondents answered “yes the logo improved Feelin’ Crumby’s recognition”. ................
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