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 woodwork market. Customers can expect a high-quality and best woodworking designing experience.
The [Company Name] brand will focus on the Company’s unique value proposition:
- Offering a wide collection of high-quality woodworking products
- Convenient location
- Comfortable, customer-focused environment
- Moderate price point
- Providing excellent customer service
[Company Name] expects its target market to be residents living within a 10-mile radius of the location. The Company’s promotions strategy to reach the audience includes:
Before opening the woodworking company, [Company Name] will organize pre-opening events designed for prospective customers, the local community, 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 company offerings in popular magazines and news dailies. Obtaining relevant placements in industry magazines and journals will also help in increasing brand visibility.
[Company Name] will hire an experienced PR agency/professional(s) to formulate a compelling PR campaign to boost its brand visibility among the target audience. It will look to garner stories about the company and its products in various media outlets like podcasts, television stations, radio shows, etc.
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 various forms and technologies of woodworking and post customer reviews that will increase audience awareness and loyalty.
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 products 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.
Pricing strategy is one of the most important functions that any business can plan for attracting customers. Prices are a foundational element of a company’s revenues—if managed carefully, they can generate high profits.
[Company Name]’s pricing will be moderate, so customers feel they receive great value when availing of the woodworking products. The customer can expect to receive quality woodworking products at a more affordable price than what they pay at an ultra-premium woodworking company.