VI. Marketing Plan
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
The [Company Name] Brand
[Company name] seeks to position itself as a respectable, upper-middle-market competitor in the local vape shop landscape. Customers can expect to receive the most popular vapes and accessories for a price somewhere between discount chains and luxury establishments.
The [Company Name] brand will focus on the company’s unique value proposition:
- Offering a wide collection of vapes
- Convenient location
- Comfortable, customer-focused environment
- Moderate price point
[Company Name]’s target market are residents living within a 10-mile radius of the location. The Company’s promotions strategy to reach the audience includes:
Before opening, [Company Name] will organize pre-opening events designed for prospective customers and press contacts. These events will create buzz, and awareness for [Company Name] in the area.
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 popular magazines and news dailies. Obtaining relevant placements in industry magazines and journals will also help in increasing brand visibility.
[Company name] will announce its opening several weeks in advance through publicity pieces in multiple local newspapers and publications. It will run regular advertisements to maintain exposure to relevant markets. Community newspapers, college publications, fashion programs, and similar channels will be a major promotion effort.
Social Media Marketing
Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. The Company will use social media to develop engaging content in terms of vaping benefits and customer reviews that will increase audience awareness and loyalty. Engaging with prospective clients and business partners on social media platforms like Facebook, Instagram, Twitter, and LinkedIn will also help understand changing customer needs.
Word of Mouth Marketing
[Company name] will encourage word-of-mouth marketing from loyal and satisfied clients. 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 be incentivizing its existing customer base to encourage their friends to come and try their service for the first time.
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.
[Company Name]’s pricing will be moderate, so that customers feel they receive great value when availing of the products and services. The customer can expect to receive good quality vaping products at a more affordable price than what they pay at an ultra-premium vape shop.