Convenience Store Marketing Plan
Keller School of Business
Marketing Management – MM522
Rush Convenience store is a brick and mortar store located at U.S 94 and Rush Rd. It is a convenience base store designed to meet the needs of local towns of Rush and Yoder.
This store is only one of three establishments in the whole town. I will be the second time a convenience store has tried to enter the market. The current establishments are a Post Office and small Café.
Our mission is:
Provide family friendly service and be able to know the customer by name. We will not settle on mediocre service, excellence is only the option. We want the customer to have a family experience when coming in. We want anyone to feel welcome and at home.
How much we are projected to make in the first year
Situational Analysis & Strategy
Rush Convenience is located on State Highway 94; it is situated 35 miles east of Colorado Springs and 53 miles west of Aroya Colorado. Hwy 94 is the main road through town and it connects these two cities. It is used by hundreds of commuters between these two cities. Colorado Springs has a population of 414,000 residents and Rush has a population of 750 residents. The closest gas station is 15 miles to the west or 30 miles to the east.
The current residence of Rush do not have a convenience store in which to buy food or gas once they hit mile mark 15 on Hwy 94. About 9% of the Hwy 94 commuters fit the demographic profile of our target customers.
Our competing product/company is a gas station named Fuel B’s located 15 miles to the west. This station does offer food products but some of their products are generic or off-brands. Their stock does not seem to rotate quickly because dust has been seen on some products. Their stock of energy drinks is very limited. You can not find the most recent submission to market or the newest flavors. They do not carry the energy drink “Spike” that is produced locally in Colorado. Most of their retail space is taken up with booths for the Café inside. This gives us more of an advantage to carry supplies that the customers do not have available to them, but want.
* Age: 18-64 - 72.4%
* Gender: 60% Men
* Average Income: $46,844
* Education: college graduate
* Employment: professionals and ranchers
There is currently a population of over 2,360 people in the outlying county with the majority of them being families’. Our primary groups of customers are those of driving age 18-64. Our goal is to offer the current community a closer location to shop and our other goal is to entice 10% of the current drivers on this highway to stop either before or after work along with those commuters heading to Kansas along Hwy 94. SWOT Analysis:
* Location of store on Hwy 94
* All employees are family members so they are financial and emotionally vested * Excellent relationship with community
* Family member marketing expert
* Brand new company, no previous convenience store experience * No other business in area in case of low supplies
* Untested market
* No previous business experience
* Lack of brand awareness
* A developing market in this area
* Cheap building rent
* Opportunity for other business growth if this goes well * Market vacated by an ineffective competitor
* Convenience store 15 miles away that sells gas
* One gas supplier willing to come out this far
* Economically slow market
* Price war with nearest competitor
* Competitor has greater access to channels of distribution
Our target market for this location encompasses a fifteen mile radius in which the approximate population is 2,360 (based on census information).
The majority of residents...