Interior Views LLC
This sample marketing plan was created with Marketing Plan Pro software.
Our marketing strategy is based on becoming the resource of choice for people looking for decorator fabrics, do-it-yourself, and buy-it-yourself resources to create a look in their home. Our marketing strategy is based on superior performance in the following areas:
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Interior Views LLC is a store for discerning, quality-conscious buyers of decorator fabrics and complementary home accessories and furniture. The store celebrates the home through the color and texture of fabric. The experience informs, inspires, and shows people how to transform their home into a unique and personalized expression of themselves. Interior Views seeks to encourage people to imagine what can be, and help make their vision a reality.
The target markets are separated into four segments; "Country Club Women," "Boomers in Transition," "Professional Youngsters" and "Home Builders." The primary marketing opportunity is selling to these well defined and accessible target market segments that focuses on investing discretionary income in these areas:
Country Club Women -- The most dominant segment of the four is comprised of women in the age range of 35 to 50. They are married, have a combined income of greater than $80,000, own at least one home or condominium, and are socially active at and away from home. They are members of the Boise Country Club, The Downtown Athletic Club, the Junior League of Boise, AAUW, and/or the Doctor Wives Auxiliary. They have discretionary income, and their home and how it looks is a priority. The appearance of where they live communicates who they are and what is important to them. This group represents the largest collection of "Martha Stewart Wanna Be's," with their profile echoing readers of Martha Stewart Living magazine, based on the current demographics described in the Martha Stewart Living Media Kit.
Boomers in Transition -- This group, typically ranging in age from 50 to 65, is going through a positive and planned life transition. They are changing homes (either building or moving) or remodeling due to empty nest syndrome, retirement plans, general downsizing desires, or to just get closer to the golf course. Their surprisingly high level of discretionary income is first spent on travel, with decorating their home a close second. The woman of the couple is the decision maker, and often does not always include the husband in the selection or purchase process.
Professional Youngsters -- Couples between the ages of 25 and 35 establishing their first "adult" household fall into this group. They both work, earn in excess of $50,000 annually, and now want to invest in their home. They seek to enjoy their home and communicate a "successful" image and message to their contemporaries. They buy big when they have received a promotion, a bonus, or an inheritance.
Home Builders -- People in the building process, typically ranging in age from 40 to 60, are prime candidates for Interior Views.
For the person creating a personalized and unique impression of her home, Interior Views is the best local source for selection and price points of the fabric, customer-oriented design services, and a variety of other home accessory and furniture products. Customers will be impressed with, and return for, the great in-stock selection, value-oriented pricing, and excellent customer service. Unlike JoAnn's, Warehouse Fabric, or catalogs, Interior Views is a pleasant and tasteful resource that encourages everyone in the process of decorating their home. Unlike employing an interior decorator, Interior Views allows the individual to participate in their design choices to the extent they choose, and realize greater value for the dollars they invest.
The single objective is to position Interior Views as the premier source for home decorator fabrics in the Greater Boise area, commanding a majority of the market share within three years. The marketing strategy will seek to first create customer awareness regarding the products and services offered, develop that customer base, establish connections with targeted markets and work toward building customer loyalty and referrals.
Interior Views' four main marketing strategies are:
INCREASED AWARENESS and IMAGE - Informing those not yet aware of what Interior Views offers.
LEVERAGING EXISTING CUSTOMER BASE - Our best sales in the future will come from our current customer base.
CROSS SELLING - Increasing the average dollar amount per transaction.
NEW HOME CONSTRUCTION PROMOTION - Connecting with people involved in the building process.
In brief, our marketing mix is comprised of these approaches to pricing, distribution, advertising and promotion, and customer service.
Pricing -- A keystone pricing formula plus $3.00 will be applied for most fabrics. The goal is to have price points within 5% of the list price of Calico Corners' retail prices. This insures competitive pricing and strong margins.
Distribution -- All product is distributed through the retail store. The store does receive phone orders from established customers and we will be developing a website.
Advertising and Promotion -- The most successful advertising has been through the Boise Herald and through ads on "Martha Stewart" and "Interior Motives" television shows. The quarterly newsletter has also proven to be an excellent method to connect with the existing customer base, now with a mailing list of 4,300 people.
Customer Service -- Excellent, personalized, fun, one-of-a-kind customer service is essential. This is perhaps the only attribute that cannot be duplicated by any competitor.
Our products enable our customers to experience support, gather ideas and options, and accomplish their decorating goals. They will be able to create a look that is truly unique to their home. They will not be able to do this in the same way through any other resource.
Product pricing is based on offering high value to our customers compared to most price points in the market. Value is determined based on the best quality available, convenience, and timeliness in acquiring the product. We will consistently be below the price points offered through interior designers and consistently above prices offered through the warehouse/seconds retail stores, but we will offer better quality and selection.
The most successful advertising and promotion has been through the following:
The first goal is to recognize everyone as they come into the store. If they are a repeat customer, they are referred to by name. If they are a new customer, they are asked, "How did you hear about us?" Help is always available and never invasive. The store is staffed to be able to dedicate time and energy to customers that want assistance when they need it. The store is designed so a customer can sit as long as they want to look at books, fabric samples, and review the resources in the store. Their children are also welcome, with a television, VCR, and toys available in the childrens' area in clear view of the resource center. We provide service in a way that no other competitive retail store can touch. It is one of our greatest assets and points of differentiation. Insight, ideas, inspiration, and fun is the goal. Repeat, high dollar purchases from loyal customers is the desired end product.
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