Swatch and Fossil have strong manufacturing and distribution skills, while guess? And Anne Kline have less extensive distribution networks but strong name recognition in fashion. Fossil and Swatch are strong at the lower price lines. Branded fashion watches are a relatively new product category. Although pioneered by Swatch, there is considerable opportunity for new entrants as demonstrated by fossil and guess? Company Analysis General currently distributes products through channels accounting for 75 percent of watch sales.
Marketing plan summary and introduction
Watch attributes that we consider most important include watch egypt and band design, packaging, price, and durability. Distribution and display are very important in this market and can encourage impulse purchases for both personal use and as gifts. Consumers are reached through five types of outlets. We currently have access to four of these channels, representing 75 percent of watch sales. Channel development is necessary to reach the total watch market. A majority of branded fashion watches are currently purchased at department stores. We will take advantage of our strong distribution through department, discount, and drug stores to assure widespread availability of Spree watches. Jewelry store channel development will be deferred until we are established in our traditional retail channels. Competitive analysis Although there are fourteen competitors in this market, there is substantial concentration. Swatch, fossil, guess?, and Anne Kline are strong competitors, holding 70 percent of the market.
Young females 18-24 years of age are expected to be intense purchasers. This group is likely to be very styling conscious. Women in the 25 to 34 age group will be our second significant segment, expected to buy more watches than any other age-sex segment. Consumer purchases of branded fashion watches also vary by region as shown in Table. An index of relative watch sales by regions shows that sales are above average in the east north central, west north central, north central, and midatlantic states. Product introduction is likely to be more successful in the states in these regions. Table 2: Watch Sales by region region watch sales population index of watch sales enc 20.33 sa 16.94 ma 15.15 west 15.71 wsc 10.00 wnc 8.14 ne 6.20 esc. Brand switching and experimentation by consumers is easy for low essay priced watches, assuming availability. Consumers are very design oriented when buying branded fashion watches.
Sales growth has slowed to a current level of 5 percent annually. Growth in current markets is expected to be limited. The Spree watch is one of several projects with the potential to improve general's growth rate. Market Analysis The Spree watch will compete directly with several other branded fashion watches. The market size for branded fashion watches is forecast to be 524 million retail dollars in 1998, growing to 721 million by 2002. Annual market growth is expected to exceed six percent through 2002, exceeding our current annual sales growth. Market Segments Table 1: Market Segments by Age feasibility age percent of watch buyers percent of population over 17 relative purchase index.45 Those under 35 years statement of age purchase slightly over 50 percent of all branded fashion watches as shown in the table. The highest purchase prevalence is those from 25 to 34 who purchase 74 percent more watches per capita than those the average consumer. Purchase behavior is expected to differ among age segments and by gender.
This and television advertising will be scheduled two-thirds in the first six months of the campaign. To achieve consumer awareness in the first year, our advertising voice share will be considerably higher than that of the four market leaders. Financial analysis and expected results, we expect first year sales.5 million dollars and project break-even for the project in the first year. If the competition increases advertising or our sales are less than expected, we are prepared to add as much 500,000 to our advertising budget. Spree - the, market, plan, situation analysis, general's core business is industrial timing devices and consumer clocks, based on skills in manufacturing high quality timing movements and plastic casings. This market plan is based on providing consumers with a high quality, innovative watch. It will be offered in a variety of styles for both men and women. The casing and movement has other potential applications not discussed in this plan. Our 1995 profits of 30 million dollars represent.5 percent of total sales.
Final Summary for a marketing Plan
Seventy percent of the market is concentrated with strong competition from Swatch, fossil, guess?, book and Anne Kline. We have extensive experience in the manufacture of innovative, high quality, precision plastics and timing devices permitting pdf us to offer the consumer value in a branded fashion watch. Additionally, we have experience distributing products into 75 percent of the outlets for branded fashion watches. Objectives, the combination of a unique, cost-effective design allows us to establish a three percent market share in the first year. The Spree watch project will break-even in 1998.
Strategies, general will introduce a new product, the innovative spree watch, using penetration pricing, extensive advertising, and expanded distribution in order to increase our revenues and growth rate. Action, plan, the Spree watch has strong product benefits compared to current market offerings. To achieve our objectives we will offer our unique watch in a variety of designs at a suggested retail price. Our current distribution covers 75 percent of the market. At this time we will not expand our distribution to access the jewelry store retail channel. We will increase our sales force by 5 persons and add a sales trainer to support for our market plan. Advertising of one million dollars will emphasis the unique design of the watch and is weighted toward print and point-of-purchase displays.
In the world of small business, this is particularly true. With 898,000 small businesses starting each year, there is a significant opportunity for a consulting firm such as Cambridge Strategy Group to become the "first" consulting firm dedicated exclusively to small businesses in the minds of a number of these potential clients. 1.2 Objectives, the firm has very small capital requirements. Any capital that the firm obtains will be used to promote the "small business focus" of the firm and cover basic operational costs. For the firm to realize its full potential, the founders would require compensation equivalent to full-time employment while pursuing initial clients and creating a backlog of work requests. This would most likely need to cover at least one year's salary for each of the three managers.
Additionally, funding for initial marketing projects would help to ensure that the firm could establish a claim to the "small business consulting" concept in the target market. In exchange for the funding, csg would provide an equity stake to the funding company. Ideally, we would like to work with the funding company to help its other clients succeed. An example of a, marketing, plan, spree watch. Marketing, plan, summary, based on an evaluation of the watch market and our strengths, general will introduce the Spree watch. Situation analysis, half the buyers of branded fashion watches are between 18 and 34 years of age. This group, which purchases more watches per capita than those older, is our primary market segment. Watch purchases are more likely by consumers in the northeast and Midwest. Many purchases are expected to be impulse, requiring strong point-of-purchase support.
Marketing Strategy business Plan Sample - market Analysis Bplans
Cost-effective personal interaction essay with local consultant presence. Personal interaction provides small businesses with a level of comfort not available with remote consultants. There may be many occasions where the small business founders may ask the consultant to simply "stop by to react to a new development, or to answer a question. While this local presence and personal interaction is highly valued, business owners are often unable to afford the cost associated with bringing consultants to them from other areas. A diverse network of consultants and alliance partners. Solving the unique problems that face small businesses today demands a wide range of skills and experiences. By relying on a nationally distributed talent base coordinated to work together remotely, cambridge Strategy Group will be able to bring together the skills required by a particular client without incurring the expense of physically bringing all of the individuals together. In the book, 22 Immutable laws of, marketing, authors Al ries and Jack Trout note that being first in the customer's mind is more important than being the overall leader.
plan.1 keys to success, uniqueness of services. The cambridge Strategy Group is focused specifically on helping small and emerging businesses maximize their potential for success. We combine Blue chip training with small business experience and local presence. We differentiate ourselves in the following ways: Focus on small business. We place our best people on small business customers. Our mission is to help small businesses of today become the leading corporations of tomorrow. Cambridge Strategy Group will attempt to own the words "small business" in the minds of our potential clients.
Gordon, Executive director: John has worked in marketing, business development, ions and corporate strategy for a number of small and large firms, including emc corporation, ibm corporation, and Larscom, Incorporated. John's participation on the north Carolina council for Entrepreneurial development, plus his experience providing consulting services to small businesses, catalyzed the formation of the cambridge Strategy Group. Kuczaj, managing Director: Todd has worked in Internet consulting, web design/development, financial services, and media publications for a variety of companies, including a big five consulting firm, Integrated Information Systems Inc., sunAmerica securities Inc., and the foothills Sentinel. Todd currently functions as an experienced analyst for a big five consulting firm, working with Fortune 100 and Fortune e-50 firms to solve their business and technology issues. Cordell, managing Director: Ben has worked in business development, account management, systems engineering, marketing, and product development positions at LifeServ and one. Ben currently functions as a corporate strategy specialist at LifeServ, discovering and developing merger, acquisition and strategic partnership opportunities. Financial, summary, the market for Cambridge Strategy Group's services is enormous. Initially, the three founding members intend to work part-time on this venture while maintaining full-time positions with other corporations.
Write a marketing plan - info entrepreneurs
Last year the doors to 898,000 new businesses opened in the United States for the first time. Most of these businesses were created by entrepreneurs who envisioned an opportunity to develop a new product or service, and pursued that vision in search of independence and financial reward. While these visionaries started with solid ideas to form the foundation of their new ventures, most do not have many of the skills necessary to transform their ideas into reality. Additionally, the scarcity of talent in today's market makes it extremely difficult for small business owners to attract and retain those skills. Target, market, the cambridge Strategy Group (csg. is dedicated to providing marketing and management consulting services to small and emerging businesses looking for opportunities to increase their potential for success. Unlike traditional management consulting firms that focus on analyzing problems for large customers, csg works exclusively with small business clients to develop concrete, practical, short-term action plans that will start moving their businesses in the right direction. The cambridge Strategy Group takes advantage of the small business owners' need for marketing and management skills, the scarcity of those skills in the market, and the lack of any major competitor owning the concept of "small slogan business consulting.". Management, the csg management team brings a broad range of industry experience and training from both energetic small firms and experienced industry leaders.