Marketing Plan for an Existing Business - 4873 Words

Executive Summary Dragonfly Designs already offers custom-made items and now we would like to expand our product lines and offer do-it-yourself items. Our existing location can be renovated to add the space needed for this service. We would also like to build a new facility with a larger work area for the do-it-yourself projects and kilns in the back area. The back area would be large enough to hold the inventory for both store locations. To accomplish these objectives, land needs to be found and purchased for the new facility. Bank financing is necessary for the building of this new facility but not needed for the renovations at our existing location. Dragonfly Designs would also like to begin delivering our own goods locally. We†¦show more content†¦To ensure proper handling when shipping, we will start making local deliveries ourselves. We also plan to open an area in our shop to offer different art classes and do-it-yourself project options. We plan to buy some of the artwork made there by local artists and sell it in the showroom. We would like to start this service within the next 60 days. These goals will allow us to obtain the total revenue increase of 25% this year we are aiming for. Core Competency There is only one store within a 60 mile radius that handles stained glass and there is no place that handles porcelain designs locally. To be competitive on the Internet, price is key in getting customers to purchase from us. A user-friendly website also helps in increasing purchase orders. Our original designs and made-toÂâ€"order products help to ensure satisfaction. Our shipping program is a big draw for consumers. Since the shipping is included in the price of the product, many consumers choose us over the competition. Situation Analysis Internal Focus We have several strengths within our company. There are not many other businesses of our type in this area. Our pricing can be higher since our product is custom made for the individual. We have low overhead and do not need much space to manufacture our products. Our company is also able to handle repairs in our own shop. Our artists are all skilled craftsmen from various backgrounds and they bring their individual tastes toShow MoreRelatedOxfam Marketing Planning1587 Words   |  7 PagesReport on market planning Whilst making marketing decisions a business must decide their method of marketing. This will then be the way in which all future marketing activities will be planned. This is marketing planning. It has a huge number of benefits for any business. It’s influenced by the strategic plans of the business and its corporate objectives. 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