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Colloquy Grog Shop
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Colloquy Grog Shop's strategy will be based on communicating Grog Shop's value to the targeted segments. This will be done through a variety of methods. The first method will be strategically placed advertisements. One place that will be used for advertisements is the Willamette Weekly, the liberal arts magazine that details all of the entertainment in Portland. This will be the main source of advertisements because the demographics of their readership are fairly similar to Colloquy Grog Shop's demographics.
Another source of marketing will be done with strategic relationships with companies that have similar customer demographics. One prime example is the Multnomah Athletic Club. While the club's patrons are not necessarily overwhelmingly single, the rest of the demographics match up. The MAC is a fairly exclusive downtown athletic club that by virtue of the membership costs, attracts professionals. The strategic relationship with be mutually beneficial where both organizations will develop visibility for each other.
The other form of advertising will be using "grassroots" methods where customers will be given coupons for their friends to try Colloquy Grog Shop for the first time. The coupon will be an economic incentive for the newcomer to try Colloquy Grog Shop. The coupon also has the added force of a referral from a friend.
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Colloquy Grog Shop's mission is to provide a neighborhood bar/coffee shop where single people can meet. 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.
Colloquy Grog Shop's customers can be broken down into two groups, singles, and non-singles. The non-singles groups are smaller than the singles groups by virtue of the fact that if you are meeting someone whom you already know, the two of you can come up with the topic of conversation yourself, therefore, Grog Shop offers this group less value. The demographics for the non-singles is similar to the singles, to be listed below. The larger group then is the singles. The demographics of the singles are:
The Colloquy Grog Shop will position itself as a reasonably priced tapas/bar/coffee house that has an innovative, effective system for allowing single to meet each other.
The Colloquy Grog Shop's positioning will leverage their competitive edge:
The single objective is to position the Colloquy Grog Shop as the premier place for young professional singles to meet like-minded individuals. The marketing strategy will seek to first create customer awareness regarding their services offered, develop that customer base, and work toward building customer loyalty and referrals.
The message Colloquy Grog Shop will seek to communicate is that The Grog Shop is THE place to meet intelligent singles. This message will be communicated through a variety of methods. The first method will be advertisements. The bulk of the advertisements will be in the Willamette Weekly, a weekly entertainment guide in Portland that has impressive readership numbers for the desired target population.
Another method will be through establishing strategic relationships with companies that have similar demographics such as the Multnomah Athletic Club. Establishing a mutually beneficial relationship will allow both organizations to develop visibility for each other.
The other form of advertising will be using "grassroots" methods where customers will be given coupons for their friends to try Colloquy Grog Shop for the first time. The coupon will be an economic incentive for the newcomer to try Colloquy Grog Shop. The coupon also has the added force of a referral from a friend.
Colloquy Grog Shop's marketing mix is comprised of these following approaches to pricing, distribution, advertising and promotion, and customer service.
During the initial phases of the marketing plan development, several focus groups were held to gain insight into a variety of likely customers. These focus groups provided useful insight into the decision making process of these consumers.
An additional source of dynamic market research is a feedback system based on a suggestion card system. The suggestion card has several statements that patrons are asked to rate in terms of a given scale. There are also several open ended questions that allow the customer to freely offer constructive criticism or praise. The Grog Shop will work hard to implement reasonable suggestions in order to improve their service offerings as well as show their committment to the customer that their suggestions are valued.
The last source of market research will be competitive analysis. This will be done by regularly visiting competitors and analyzing their service offerings.
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