Business Memo Practice

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  • Topic: Marketing, Marketing strategy, Home
  • Pages : 2 (384 words )
  • Download(s) : 99
  • Published : January 24, 2013
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To: John Wayne President, CP Rochester
From: VP Marketing
Date: January 24, 2013
Re: Plan/Funding readiness
After carefully reviewing the service business expansion plan of Home for Life Renovations (HFLR) and the research survey results presented by Ignition Consulting, I would like to make my recommendation on marketing strategy that can maximize penetration based on the limited marketing budgets. As the service business expansion plan states, “the ‘Baby Boomer’ generation continues to age.” Under this demographic background, aging people tend to remain in their own homes, and this trend is supported by the statistic that 100% respondents of the survey regard aging in home as important. As the foundation of a successful marketing strategy, the great market potential of HFLR indicates its profitability in the long run. Over 15 years, CP Rochester has been an expert in home modifications for individuals with physical and developmental disabilities. Based on the survey data, “51% of homes support a senior citizen, 48% of homes support someone with a disability and 18% of homes support someone who is medically frail.” HFLR can take full advantage of CP Rochester’s original target customers, expertise and reputation. This provides a great chance for HFLR to effectively utilize testimonials as its major marketing tool. Regarding information sources of renovation services, the survey results demonstrate that 36.4% of respondents will look for social service agencies and 58% of respondents will seek information from a specific nonprofit. Senior centers exactly belong to one of information sources above and thus can be effective referral partners or co-branders of HFLR. Finally, the acquired zip codes of Fairport, Webster, Pittsford and Henrietta from the survey match the affluent areas in the Greater Rochester Area. This helps to locate our profitable customers and thus decide where is the first to launch marketing campaigns, including promoting...
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