Strategic Marketing Plan

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  • Topic: Marketing, Bachelor party, Bachelorette party
  • Pages : 27 (8306 words )
  • Download(s) : 439
  • Published : July 24, 2007
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Table of Contents

Executive Summary...........................................................................................................3 Product Profile……………...............................................................................................4 Business Review….............................................................................................................6 Key Issues/Key Learnings……….....................................................................................9 Planning Conclusions…..................................................................................................11 Marketing Strategy & Objectives……….…..................................................................16 Key Strategic Marketing Initiatives................……………………….………………..18 Marketing Programs………….…….……………………………………………….....22 Calendar of Events…………….......................................................................................25 Brand Economics.........................................…………...……………………………….26 Risks..................................................................................................................................27 Financials………………………………………………………………………………..$$ References…………………………………………………………………………….....28 Appendix A - J ….......................................................................................................29-37

Executive Summary

Montreal VIP currently offers an unlimited variety of services, ranging from writing business proposals to organizing fundraising events, to strip clubs outings for the guys / girls. Although this gives them great versatility to serve almost everyone for almost any type of event, it has impacted them financially resulting in a decrease of net income before taxes by $17,500 from 2005 to 2006). Therefore, Montreal VIP must redefine its target market and service offerings if it wishes to increase its profitability and ensure its place within this industry.

Montreal VIP has three main options which can help it attain its ultimate goal of achieving an increase in profitability from 2006 fiscal year and carve out a piece of the market within its industry. The first is to focus on the female market, the second is to go after the corporate market, and the last is to stay with its core strategy, the male market.

With a potential of 8,000 bachelor parties per year in Montreal and only 20% of this being accounted for, over $4,500,000 in sales is being left untouched on a yearly basis. This opportunity can easily be taken advantage of by Montreal VIP through the simple use of streamlining its services and targeting the right target market.

With its strong image as the best male party planners in Montreal and the supplier connections to back it up, Montreal VIP has developed an expertise within this market segment and has the positive word-of-mouth promotions to back it up. By effectively targeting this market, Montreal VIP can realistically assume an increase in sales by 50% and a net income before tax of $53,000 compared to $3,900 in 2006.

Product Profile
Product Description
Montreal VIP is an organization which offers primarily event planning services, such as parties, fundraisers, corporate events and weekend getaways, all while promoting the best of the Montreal nightlife. The concept is to offer not only entertainment, but also convenience and ease of mind to the individuals who are organizing an event as well as to those who are attending it. Montreal VIP can organize an entire evening or weekend where guests will not have to worry about where to go, how they will get there, waiting in line-ups or making reservations; all is planned out based on their specific needs and requests to ensure guests can fully enjoy themselves and have the best of time, hassle-free.

Product Vision/Positioning
Marketing VIP positions itself as a leader in the party and event planning industry. The organization would like to be...
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