VI. Marketing Plan
This Section's Contents
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
[Company Name] seeks to position itself as the convenient source for high protein and healthy hot dog options. Customers can expect to receive the best hot dogs in [location] at moderate price points.
The [Company Name] Brand
The [Company Name] brand will focus on the Company’s unique value proposition:
- Offering a variety of hot dog products to serve a range of tastes and preferences
- Convenient location
- Moderate price point
- Providing exceptional customer service
Promotions Strategy
[Company Name] expects its target market to be consumers within a 15-mile radius of its location. The Company’s promotion strategy to reach these customers includes:
Social Media
[Company Name] will be active on social media and use targeted social media advertising to attract its most likely customers. The Company will frequently post upcoming specials and featured flavors. [Company Name] will also post pictures and reviews of its customers on its social media platforms to increase audience awareness and loyalty.
Sampling
Before officially opening for business, [Company Name] will initially give free hot dog samples to passersby to enable them to taste the quality of hot dogs and learn about the company.
Local Publications
Advertisements in print publications like newspapers, magazines, etc., are an excellent way for businesses to connect with their audience. The Company will advertise its products in local magazines and news dailies.
Word of Mouth Marketing
[Company name] will encourage word-of-mouth marketing from loyal and satisfied customers. The Company will use recommendations and word-of-mouth marketing to grow the customer base through the network of its existing customers. The Company will incentivize its existing customer base to encourage their friends to come and try the hot dogs for the first time.
Website
[Company Name] will have an informative and attractive website that will feature professional photos of the hot dog cart, its products, hours, menu, address, and contact information. It will also use SEO to constantly stay at the top of search engines for anyone searching for hot dog vendors near them.
Special Offers
Offers and incentives are an excellent approach to assisting businesses in replenishing the churn in their customer base that they lose each year. The Company will introduce special offers to attract new consumers and encourage repeat purchases, which will be quite advantageous in the long run.
Partnerships with Local Schools
[Company Name] will partner with the local schools and hand out coupons to all of its students to entice them and their families to purchase the hot dogs. The Company will also provide fundraising options to benefit the school as well as provide advertising for the [Company Name].
Partnerships with Local Businesses
[Company Name] will partner with neighboring local businesses and request they hand out coupons for the hot dogs at their place of business in exchange for discounts for their employees.
Direct Mail
The Company will use a direct mail campaign to promote its brand and draw customers, as well. The campaign will blanket specific neighborhoods with simple, effective mail advertisements.
Pricing Strategy
[Company Name]’s pricing will be moderate so consumers feel they receive value when purchasing the hot dogs. The customer can expect to receive higher quality hot dogs at a comparable price point to other moderately priced competitors.
