Marketing Plan Assignment

Marketing Plan Assignment Words: 1986

There are school store fronts in ost major cities and some medium size towns, many with large school districts or multiple school systems. The key element is to have classrooms within each store front that will enhance not only the profile of the store front, but it may increase store profits and fill a niche that has never been met. Some of these stores offer only the supply side of the teacher’s needs and some have home schooling resources.

In serving the community, this new marketing strategy will also have profound lasting achievements for the student in need, and create a leg up on market trends. The verall target is to reach out to public school teachers, college tutors, and home Marketing Plan By sleJax The “Classroom” concept will consist of those who visit store front locations whom will comprise of off-the-street customers or teachers who desire a location to meet a need in a community. Historically, store front locations offer only teacher supply, a conduit for teacher ordering difficult to get materials.

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This would be a basis to draw a segment of the population into similar settings, such as public school classrooms. The overall outcome is to fill a niche not currently met and addressed. This new oncept has a potential to expand in other markets. However there will be cost features to consider such as increasing the size of the store front, possible construction cost expand a given location, potential opportunity to have on-site certified teacher(s), and up to and including current audio-visual equipment. Much of this could result in low start-up cost.

Consider specifically addressing the following: Cost constraints Marketing budget Staffing Equipment either lease or purchase Determine charge for use of facility What is the general nature of the problem? 2. 2 SWOT Analysts However there is a plus side in this multifunction operation. By providing a venue for at risk students, or students that need extra help with tutor instruction through the help of either on-site certified teachers(s) or tutor instructors, as well as audio instruction via on-site web services to linking up with external home school academies. See diagram page 6) The Strengths are internal and can help expand its outreach to the community: Neutral setting away from distractions and takeaways’ which may cause lack of focus. Video and high speed internet access for homeschoolers’ who use external sources for off-site teaching such as Abeka Academy, or Bob Jones Academy, etc.

Full access for public school teachers and homeschool teacher/parents for use of the classroom settings for instructional learning Aside from offering the classroom setting environment an endless opportunity exists to provide state-of-the-art educational materials to teachers and parents Secure facilities Classroom reservation, pricing, teacher aide services and more The Weakness to be considered are: Since this is untested for the current market in Arkansas it will require product awareness outside of the current store front product availability The effort is to counter the above and emphasize the value-added benefits beyond a teacher supply tore. Opportunities to take advantage will be three areas: One area will be to take advantage of the Homeschool market where many of the teaching comes from parents, and online academies. The second area will be to take advantage of community outreach through teacher instruction in a much more relaxed setting.

Lastly, by providing low cost access for parents with homeschooling, on such new services and maintaining the current store front structure. These threats are considered challenges, which may impose upon execution of the service provided. Increased competition once word of mouth begins to hit the market and dvertising begins. Should competitors follow suit the pricing structure may be a force to be reckoned. Pricing will be determined by demand and if other competitors step into the arena pricing will need to be adjusted. The objective is make or break even within a five year period. 2. 3 Competition There is limited local mergence with this market to draw from other than areas that are more populated in out of state regions.

Such that “A+ Educators” located in Fenton Michigan operates not only as a supply store for teachers and college instructors, but it also has on-site classroom settings for local teachers whom want to utor for extra income. As to the local market of Hot Springs, and within other parts of the State of Arkansas, there are no such opportunities to entertain the educator. Most store fronts are strictly supply oriented. There is “Teachers Pet” and “Savid Inc. “, both of which do have competition between each other locally, however if introduced with this marketing concept it may prove to be not only tested but viable. Each are situated in a large school district of seven Independent School Districts, and one two-year College and the surrounding counties of two more four year Universities that are less than 35 miles. Arkansas has a high demand for teachers.

If one were to market to a larger segment such as Little Rock, which has a student population of 57,132 according to Data for School Year 2009-2010 by the U. S. Department of Education, U. S. Census Bureau, the Bureau of Labor and Statistics & various other external sources, it may prove to be more successful with this type of service. The competition would be limited with this form of service to the local school districts or homeschool students. 2. 4 Service Offering When approached with service offerings, “Classroom” teaching at store locations can be extended in all areas of education. Addressing additional services as mentioned service provided.

Listing of such services includes: 1) High speed internet service for streaming online homeschool classroom course work; 2) Latest in audio/visual equipment to use as teaching tools; 3) Onsite state certified teachers and provide teacher aide services; 4) Private classrooms for single to multiple student instruction; 5) Provides a testing site for all school curriculums; 6) Public teachers will have access without charge to the classroom for instructional tutoring 7) Access is neutral and central to parent – teacher conferences 2. Keys to Success Borrowing from President Bush 42 legendary phrase “no child left behind”, will be a cornerstone to the success for this new concept. It is very important to understand for the success to be lasting is to be collaborative.

Reaching beyond the borders in this cross section of public schools teaching and homeschool teaching the ultimate marker is providing a service to those who wouldn’t otherwise have access. Imagine each store front as an investor and to help bring elements of the success to bear. A recent article by A1 Ries in Ad Age makes a very interesting point, “the need and mportance of communications but they are only the tactics of a marketing program. The other half, the more important half, is strategy’ (Mintz 2011). This is insightful when it comes to the reality of what market strategy really means. Success is not Just an idea and data but is a concept.

Lucy Tesseras (2014) puts it in a different term, “Making sense of data is one thing, but knowing how to use it to enhance and elevate a marketing strategy is quite another. ” In order for success to build, it can be expected to read data when available to assess the future success of the service. 2. 6 Critical Issues The leverage point of critical issues is to determine what may impede the market strategy for the “Classroom” enhanced teacher supply store in order for it to be managed effectively. Critical issues are uniquely vital to each company or organization depending on its individual circumstances. (Buck 2014). This applies in many ways.

Below are some critical issues: 1) Finding ways to continue to market the service 2) Adapting to competition and marketing tactics 3) Getting the off the ground and running 4) Increased utility expense(s) 5) Communicating to school boards and community the need for the product service The marketing strategy should be closely connected, for the store fronts’ success and survival. In order to tackle the critical issues the vision for the service must be assessed constantly for a changing new market. 3. 0 Marketing Strategy In the marketing strategy aspect will require different types of approaches to generate interest of the general public. The idea is to develop a concept where the value is focused on service, rather than product.

The use of televised media and radio media are limited in this area whereas if the market was in the larger demographic area such as Little Rock expanding the exposure is greater. Using print media will be most advantageous because the readership area is targeted and specific to probable consumers. Partnering with local universities in the area will enhance marketing efforts. Currently, the local universities offer Associate and groups increase interest and grow business. A marketing partnership with these Universities offers a multitude of successful opportunities. The use of this strategy is simple. The demographic area is less populated, yet large enough to offer a new concept to education. The key strategy is to create optional opportunities to learning nd teaching within a set of boundaries.

This “Classroom” concept can have a profound effect on the school district and will be a partnership rather than a competitive replacement for current education facilities. 3. 1 Mission The mission is to provide a benchmark for successes and seek greater score achievements. This is accomplished by providing a setting conducive to alternative learning for teachers, home-school students, and parents. 3. 2 Marketing Objectives It is possible to reach objectives since the market segment is a smaller market with limited competition or none at all. In order to meet and maximize market share is determined by who the competitors are and determine through observation how each are marketed.

Hot Springs is a very small segment of the population yet is one of the larger cities in the State of Arkansas, meeting objectives may be a challenge. Realizing any profit will be entirely up to the teacher supply store especially in order it maximize store profits while incorporating this new concept. With this new concept, it will establish a precedence and give the community new market service. Rollout to the market stores as mentioned is limited will be brief in the upstart and hould take no more than one year to be fully implemented. 3. 3 Financial Objectives Each store front has operating expenses outside of the “classroom” concept and will operate accordingly till it is fully functional. As the need grows for the “classroom” concept so will the need to expand.

This is not a customer sales volume generated process but an added-value concept that gives and provides a service in addition to what the store has to offer. Financially, it would require some modification to existing stores with classroom additions, equipment, furniture, and the normal necessities equired to enhance classroom settings. The targeted segment being teachers and homeschool teachers it is known budgets are limited in nature. The final portion of the financial object is retaining cost effective measures. The “Classroom” concept requires minimal overhead without hitting hard on the current operational budget of the store front inventory.

The shelf-life should be endless without compromising the bottom-line. Store owners will be able to realize the profit margin perhaps outside of the second fiscal year so long as marketing is steady. The consideration to be made s a public school year is only nine months, while home school instruction has the option of year-round studies. The consequence borne from this concept attributes to seasonal up-swing. Summer months will be the downside and profits will be affected but this should be short-lived. The overall objective is to provide an educational service on an alternative platform. Can the store offer continued services to teachers during off times to offset the seasonal up-swing?

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Marketing Plan Assignment. (2020, Nov 24). Retrieved January 17, 2021, from https://anyassignment.com/art/marketing-plan-assignment-35241/