November 28, 2011
K-MIC KTV Marketing Plan
I. EXECUTIVE SUMMARY
K-MIC is a small KTV store. KTV means karaoke TV, which is a place where young people can sing songs they like. Feng (2008) has said, "KTV, is the rage in China. The rage started back in the 1990s and since then, a great many KTV stores have sprung up on both sides of the Straits — both on the mainland and in Taiwan" (para. 2). K-MIC KTV store is located in Xinzheng and next to SIAS International University. There are three floors in total. And it has mini room, small room, medium room and big room four kinds of rooms. K-MIC is a new brand market and is during the growth stage. Now, K-MIC is facing some challenges. The scale of K-MIC needs to be extended; the lack of staff and the quality of service are also the aspects that should be improved. The marketing plan is trying to help K-MIC to focus on the target market, young people, by analyzing the current, future and competitors. Then the plan would work on the S.W.O.T analysis and set a specific marketing objective so that the store would know how many market share they can get. What's more, good marketing strategies could guide the store in a right direction. The most important is how it works. Effective marketing implementation would assist K-MIC to attract more young people through market mix (product, price, place, promotion).
II. ENVIRONMENTAL ANALYSIS
To be a KTV store, K-MIC offers consumers a comfortable place to sing and have fun. It would like to build a long-term relationship with consumers who are college students and the other young and fashionable people. It turns out to K-MIC is going to be a successful store in this area. In the future, it maybe will be more successful.
A. Marketing Environment
1. Competitive forces. K-MIC has been here for almost two years and they often put up advertisement in SIAS campus. However, in this limited area, there are...