Senior Care Plus
Keller Graduate School of Management
1.0 Executive Summary 3
2.0. Situation Analysis Overview 4
2.1. Market Summary 4
2.2. SWOT Analysis 8
2.2.1. Strengths: 8
2.2.2. Weaknesses: 8
2.2.3. Opportunities: 9
2.2.4. Threats: 9
2.3. Competition 9
2.4. Product Offering 10
2.5. Keys to Success 10
2.6. Critical Issues 10
3.0. Marketing Strategy Overview 11
3.1. Mission Statement 11
3.2. Marketing Objectives 12
3.2.1. Brand Identity 12
3.2.2. Value Proposition 13
3.2.3. Estimated Unit Sales 14
3.3. Financial Objectives 15
3.4. Target Markets 15
3.5 ...view middle of the document...
Undaunted, it has strategized its efforts to, initially, build brand awareness in the market. Slowly but surely, its efforts will be focused on increasing its customer base and market share. Its ultimate goal is to be the go-to store for this particular market segment in Northern Nevada. SCP has an integrated marketing communications program in place, components of which include advertising, public relations, internet, and sales promotions.
It is likewise aware that the road to success will not be easy. It does not expect to make money until the second half of the first year of its operations as most of its financial resources will be funneled into its marketing efforts. Until then, sales will start to be on the upswing and continue that trend with the onset of the holiday season.
Positioning and pricing strategies have been likewise formulated. SCP will be headed by a General Manager, whose administrative functions will be fulfilled by an Executive Assistant. There will be three Sales Representatives who will specialize in each of the broad product lines that it will handle. An Online Content Assistant (OCA) will take care of all the concerns related to establishing an online presence as SCP aims to sell online as well. A Web Developer will work closely with the OCA who will take care of the technical details.
2.0. Situation Analysis Overview
This section starts out with a detailed study of the target market with Senior Care Plus being a newcomer in the market. This is so because this will serve as the basis of an integrated marketing program which it should be able to carefully craft if it were to build brand awareness in the local community and thereby, grow its customer base.
2.1. Market Summary
Senior Care Plus is a start-up business for a brick and mortar store that will sell care supplies and health products for seniors – wholesale and retail. It will locate itself in the Nevada state capital of Carson City; with Carson, Washoe and Douglas Counties as its primary market; Lyon and Story Counties as its secondary market.
As of 2010 census, the total estimated population of the aforesaid counties was placed at almost 580,000 by the U.S. Census Bureau which is estimated to grow by a total of close to three-quarters of a percentage point. The breakdown is as follows:
Table 1. Target Market Population Estimates
Note. Adapted from “Community Facts: Profile of General Population and Housing Characteristics” by U.S. Census Bureau.
Retrieved from http://factfinder2.census.gov/faces/nav/jsf/pages/community_facts.xhtml
Data shown above is graphically represented in Figure 2 on the next page. It will be seen that almost three-quarters of the market to be served is concentrated in the Washoe county area, with the least population in Storey county. The other three counties’ population average is at about 51,000 – less than nine percent of the total target market population.
While this may not be a rosy picture...