Sample Marketing Plan
The sample plan in this document is provided as a guide only. Please apply your ideas to this guide, and use all applicable segments to construct your marketing plan. Please refer to the assignment sheet posted in blackboard for more specific instructions on this assignment.
This is a sample marketing plan for a small business, Canterbury Renovations. It’s a guide to how you can prepare a marketing plan for your business. Your plan may require more or less information than this sample marketing plan.
As you work through the plan, conduct the appropriate research and planning for your business to ensure your plan results in effective marketing.
1.1 Mission Statement
The core activity of Canterbury Renovations will be the renovation of kitchens, bathrooms and laundries. The business will provide a complete service, including free designs and quotes, supply and installation of equipment and fittings, all associated building services, after sales maintenance and a seven-year guarantee covering workmanship.
2.0 Current Market Position
It’s important to understand the current position for your business before deciding on how to market it further. Marketing analysis and research (done in later sections of your plan) form the basis for identifying your current position.
External and internal business factors need to be considered and planned for.
Canterbury Renovations is a new business and has no existing clients, projects or history to account for. However, the proprietors are experienced in the industry and have the financial capacity to conduct business successfully.
Although it seems obvious, it’s important to identify your products and services in the plan. You need to consider each product or service in terms of existing competition and for how the market perceives it. You will need to market new products differently to those well established in the market.
Canterbury Renovations provides materials such as timber, tiles, paint and plaster as part of their renovations services. All of the materials selected will be of the best available quality suitable for the purpose.
Competitors: These products are available in many places but at varied qualities. Canterbury Renovations expertise will ensure only quality materials are selected for use.
Products will also include a wide range of built-in appliances such as ovens, microwaves, cook tops and dishwashers. These will be reliable products and selected to suit each individual project.
Competitors: All of these products are available at many places, but Canterbury Renovations offers them as part of a service rather than as stand alone products. One renovation company in the western suburbs also offers these appliances as part of their renovations packages but they don’t service the eastern suburbs at all. Balwyn Kitchens doesn’t supply equipment to install in new kitchens.
To sell products and run a business, you need to have premises of some sort. It may be a home office, a mobile service, a business centre office or a shop, but it needs to be considered from the customers’ point of view. Consider whether those premises and its location appeal to customers. Compare your premises with your competitors’ premises. Think about how you premises can work to your marketing advantage.
Canterbury Renovations will have a showroom for people to visit. This will allow some demonstration of work and products available and provide a space where projects can be discussed, planned and contracts signed.
Alternatively, Canterbury Renovations staff will visit clients’ homes to discuss projects and sign contracts. This provides a level of customer service that clients like when considering such large projects and expenses.
Competitors: Various kitchen renovation companies in the neighbouring areas work purely from a showroom for the sales and planning stages, so...