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This sample marketing plan was created with Marketing Plan Pro software.

The marketing strategy will consist of several activities used to increase visibility for the organization and disseminate information about Grizzly.

The owner, Meghan, will be offering public seminars on estate planning and financial planning in Minneapolis once or twice a month. These workshops will have subsidized rates and encourage people to attend and learn as much as possible. These seminars will typically take place in a public building and offer a general discussion on the subject.

Meghan will caution people against solely using this information to make decisions. Instead they will be encouraged to see a professional individually so they can better assess the customer's needs. The seminars will attempt to get these people to start thinking about their financial future. These seminars are a very good and efficient way of introducing Meghan to clients who would otherwise not at all be familiar with her.

Meghan will also be doing a lot of networking to drum up business. One outstanding source of networking is with her friends from her MBA program. While everyone that went through the MBA program has a good educational foundation for financial management, most people do not do their own planning but are assisted by a specialist.

Meghan will be contacting her colleagues through social occasions, keeping in touch with them, and offering her services if they are in need. These two methods will accurately target the segmented populations and allow Meghan to build her client list. Lastly, Grizzly Bear will be using advertisements to help communicate its message.

Mission

Grizzly Bear Financial Managers' mission is to provide comprehensive financial planning services for our customers. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.

Marketing Objectives

  • Increase referral customers by 7% a quarter.
  • Increase the number of seminars by two each year.
  • Increase sales revenue each month for at least the first two years.

Financial Objectives

  • Increase profits, as a percentage of revenue, by 1% every two quarters.
  • Hold marketing expenses, as a percentage of sales, to a 2% increase after year two.
  • Decrease costs associated with serving a client by 3% a year for the first three years.

Target Marketing

Grizzly Bear Financial Managers has chosen these two groups because they both have money to invest and most need assistance in determining how to invest or how to structure their estate.

These groups will be targeted through two methods. The first is old-fashioned networking. Meghan made a lot of contacts in her pursuit for her MBA. In addition to networking her contacts from school, Meghan will also network using her social contacts.

Meghan will also be targeting groups through the production of public seminars on estate planning and investing. These seminars typically take place in a public area such as a library hall. The seminars provide a basic level of knowledge.

The seminar is not meant to supplant Meghan's services, they are meant to whet people's appetites for more information. The real reason for these however is to get a diverse crowd of people interested in Meghan and the services she offers, creating new business.

Positioning

Grizzly Bear Financial Managers will position itself as a comprehensive financial consultancy for financial and estate planning in the Minneapolis metropolitan area. The following competitive edge will be leveraged to achieve the desired positioning.

Grizzly Bear Financial Managers' competitive advantage is its comprehensive approach to research and services provided. It is Meghan's philosophy that she can develop more value for her customers by investing time up front while researching different options. Most planning firms will do adequate research in terms of looking into different options. Certainly enough to meet due diligence requirements. While this is sufficient for some, Meghan adheres to the philosophy that it is better to invest the time upfront in support of the customers. This will then pay off in the future by developing long-lasting relationships. This attention to detail and thoroughness will certainly be appreciated by clients who in essence are trusting their financial future to Meghan.

Strategy Pyramids

The single objective is to position Grizzly Bear Financial Managers as a well-respected financial and estate planning consultancy serving two distinct market segments. The marketing strategy will seek to first create customer awareness regarding the services offered, develop the customer base, and work toward building customer loyalty and referrals.

The message that Grizzly seeks to communicate is that it offers a comprehensive financial and estate planning service. This message will be communicated through several different methods. The first method is through public seminars used to introduce prospective customers to Grizzly and its high level of expertise.

Another method of communication will be strategic networking. The networking will be a concerted, steady effort to leverage the personal and professional relationships that Meghan has developed over the years. The last method will be with the use of advertisements.

Marketing Mix

Grizzly's marketing mix is comprised of the following approaches to pricing, distribution, advertising and promotion, and customer service.

  • Pricing: The pricing scheme will be at a middle of the road price point.
  • Distribution: The offered services will be distributed from Grizzly's office space.
  • Advertising and Promotion: Public seminars, targeted networking, and advertising will be the methods used.
  • Customer Service: A customer-centric focus has been integrated into the culture of the organization. This will ensure that customer's expectations are exceeded.

Marketing Research

Two forms of primary research will be used for marketing activities. The first type was a focus group that was held several months prior to the writing of the marketing plan. The focus group was a small group of people brought together with a facilitator leading the discussion. The first part of the focus group was structured, with already established questions. The second part of the focus group was a free flow discussion that allowed participants to discuss things that were on their mind.

The second form of primary research was a customer survey. The survey was given to potential customers and inquired into their preferences and needs. Both forms of primary market research were very insightful and provided this marketing plan with a large amount of information that would have been otherwise difficult to collect.

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