Mktg 485

Only available on StudyMode
  • Download(s) : 21
  • Published : February 25, 2013
Open Document
Text Preview
CORPORATE OBJECTIVES, TACTICS & IMPLEMENTATION STRATEGY
XYZ Cupcakes is an amateur business, assimilating a wealth of competitive strategies fixated on commercial adaptability and agility for actualizing a loyal consumer base in Towson, MD. We specialize in providing ornamental cupcakes, manifested in a casual atmosphere. We expect to be profitable within our first year of operating in order to reinvest in the company, and expand retail locations by year three. At that time, we anticipate establishing individual partnerships with appointed head chef’s, who will personally invest in their location and be rewarded for profitability. Our forecast for procurement predicts total sales in the summer months will be slightly higher, as more people will be having BBQs and picnics; and highest in November and December, due to the wealth of food-oriented holidays, and desired gift packages. While emphasis in the first year will be on advertising to establish our presence in the area, our company attempts to fulfill two milestones in our retail store within the first three years: * Outdoor Cafe Seating

* Integrating a Full-Service Coffee & Tea Bar

Our corporate objectives substantially prepare to simultaneously meet financial plan requirements, in addition to area tapestry segments, through: 1. Within 3 Months of Opening: Establish a working storefront & vending truck. 2. Every 6 Months: Update menu offerings which uniquely and innovatively differentiate brand. 3. By End of Year 2: Expand sources of revenue by integrating catering events which may be capitalized upon by our mobile truck; escalating entry into beverage product breadths, and market-developing through cupcake price line extensions. 4. Within 3 Months of Opening: Overall sales capture 30% of established target audience. 5. Within 6 Months of Opening: Possess minimum of 85% positive feedback rate; monitored through incremental marketing metrics (CPM). 6. By End of Year 2: Accumulate 6,000+ followers on Facebook, in addition to 3,200 on Twitter. 7. Once Every 3 Months: Combining strategic planning and forecasting analyses to ensure profitability; supervise market trends; and configure business developments for ultimate pushpull strategy renovations. 8. Once Per Month: Implement human-capital training, adapted to efficiency of progress. 9. End of Year 3: Open additional retail location within Baltimore city. 10. Beginning of Year 4: Purchase, and operate 3 vending trucks; extending locations to Baltimore city, and other counties not yet pursued. 11. Continuously develop strong presence in the community needed to support sales goals.

While the summation of our marketing will be through education, subsequent word of mouth, and media outlets, it will be a continuous process of value development created through meeting the defined needs of our customers (ref. promotion section). We explicitly expect working with local print advertisers, universities, and elderly care homes to continuously stimulate awareness accordingly. The proposed location is a focal point of convenience, and executes a vital role in our marketing and promotion. Our enterprise will utilize a dual-distribution stratagem; including a bricks-and-mortar retail location and vending truck in the foot-traffic friendly vicinity of Towson. In order to protect these channels from internal cannibalization of sales, and to capture our leading tapestry segments, the two entities will posses singular product line prices, and hours of operation, specifically:

I. Retail Store: Located at 1900 East Joppa Road, Baltimore, MD 21234
Hours of Operation will be Monday-Friday, 9:30 a.m. to 9:00 p.m.
II. Vending Truck: Daytime Hours will be Monday-Friday
Two intervals to meet high-volume times-12:30 to 2:00 p.m. (lunch time)
4:30 p.m. to 6:00 p.m. (majority of students/faculty end of day) Monday, Wednesday, Friday’s on Goucher...
tracking img